Oklahoma Life and Health - Exam Question with 100 % correct answers | Verified | updated

A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies the types of health care services that are covered. All of the following health care services are typically covered EXCEPT for Experimental and investigative services A deliberate lie by an insurer to obtain a lower premium is an example of Fraud A Guaranteed Renewable provision allows Premiums which can only be increased per rate class A health insurer MUST provide a proof of loss form Within 15 days of receipt of the notice of loss A licensed producer is prohibited from giving a gift of more than _______ in value to a client as an inducement to purchase insurance. $100 A licensee MUST notify the Commissioner of an address change within _______ days of the change. 30 A life insurance policy becomes incontestable after it has been in force for 2 years A life insurance policy that includes a return of premium rider will pay the beneficiary how much upon the insured's death? Total premiums paid plus the policy face amount A medical fee schedule shows the amount an insurer will pay for a given procedure. This amount is considered to be the Highest amount payable A MET third-party administrator may NOT perform which of the following functions? Marketing the planA policyowner has a life insurance policy where she had listed her age on the application as 5 years younger than her actual age. If she dies and the insurer discovers the misstatement of age, how much will the insurance company pay? Less than the face amount A producer's license has been suspended due to non-renewal. The license may be reinstated within the ____ month period following the date when the license should have been renewed. 12 A(n) __________ insurance company is one that was formed under the laws of another country outside of the US Alien After an insurance application has been originated, the producer normally Is the major personal contact to the insured All individual and group health insurance policies that provide coverage for a newborn child require that the insurer be notified of a child's birth. Any additional premium due must then be paid within ____ days of the child's birth 31 All life insurance illustration showing future premiums being paid out of nonguaranteed values must disclose that the policy owner may need to resume premium payments depending on actual results All of these are duties that a producer may be required to perform when delivering an insurance policy EXCEPT Leave a conditional receipt with client All of these may be an Unfair Claims Practice EXCEPT Refusing to pay persons bringing false or fraudulent claims All of these statements concerning group credit life insurance are false EXCEPT The face amount is determined by the outstanding loan balance An accident and health insurance policy's premium requirements are set forth in which of the following provisions? Consideration clauseAn accident and health insurer has just received written proof of loss from one of its insureds. The insured must now wait 60 days before Bringing legal action against the insurer An advantage of owning a flexible premium life insurance policy would be The Policyowner can make policy changes without difficulty