OKLAHOMA LIFE & HEALTH FINAL EXAM QUESTIONS & ANSWERS SCORED A+ TO PASS

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 - Answer-Experimental and investigative services A deliberate lie by an insurer to obtain a lower premium is an example of - Answer-Fraud A Guaranteed Renewable provision allows - Answer-Premiums which can only be increased per rate class A health insurer MUST provide a proof of loss form - Answer-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. - Answer-$100 A licensee MUST notify the Commissioner of an address change within _______ days of the change. - Answer-30 A life insurance policy becomes incontestable after it has been in force for - Answer-2 years A life insurance policy that includes a return of premium rider will pay the beneficiary how much upon the insured's death? - Answer-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 - Answer-Highest amount payable A MET third-party administrator may NOT perform which of the following functions? - Answer-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? - Answer-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. - Answer-12 A(n) __________ insurance company is one that was formed under the laws of another country outside of the US - Answer-Alien