Oklahoma Life and Health Xcel Final
Exam | Newest 2024/25
How long does one premium payment cover in a premium whole life policy - Full life of
the policy
The owner of a single premium deferred annuity (SPDA) - Makes only one premium
payment
Scott has a life insurance policy in which the dividends are left with the insurance
company. This particular policy may be paid up when the cash value plus accumulated
dividends - equal the net single premium for the same face amount at the insured's
attained age
Which statement concerning the Entire Contract provision in an individual accident and
health insurance policy is true - The agent doesn't have the authority to change the
policy or waive its provisions
Who normally pays the premiums for group credit life insurance? - borrower
Upon reaching age___, Medicare supplement coverage is offered on a guaranteed-
issued basis during the open enrollment period - 65
Which of these is NOT a true statement of the war exclusion? - Civil insurrections
apply
A license is NOT required when you are - providing referrals
An insurance producer is BEST defined as - a person who has a contract with an
insurance company to represent it
Which of the following actions by a producer would NOT result in a license suspension
or revocation - Producing an inadequate amount of new premium
A small employer in Oklahoma may NOT consist of more than___ eligible employees -
50
Which of the following is NOT true of participants in multiple-employer trusts -
Participants must purchase all coverages the trust offers
Periodic health claim payments MUST be made at least - Monthly
What happens to death benefit of a life insurance policy if the insured elects a partial
payment from the accelerated (living) benefit provision? - Reduced
, The standard provision of an accident and health insurance policy require that the -
Policy, endorsement, and attached papers constitute the "entire contract"
Dan has a major medical expense policy with a $200 deductible and an 80/20
coinsurance provision. He incurs covered medical expenses of $100 in November and
$400 in January. Under the carryover provision, what will the insurer pay? - $240
The promise of a discount in premium as an inducement to purchase insurance is
known as - Rebating
A characteristic of preferred provider organizations (PPO) is - If service is obtained
outside the PPO, benefits are reduced and costs increase
Which of these is a valid reason for an insurer's cancellation of a Medicare supplement
policy - Non-payment of premium
When does the producer give a premium receipt for a life insurance application? -
When the initial premium has been paid with the application
What is the face amount of a $50,000 graded death benefit life insurance policy when
the policy is issued? - Under $50,000, but increases annually until fully insured
Which of the following is considered a limited accident and health plan - Cancer plan
Which of the following is true regarding a person receiving a waiver of premium benefit
- The insured must be disabled for a period of time
How long must a life insurance policy be in effect before the policyowner may use the
nonforfeiture provision? - 3 years
All parts of the Medicare program (except for public information and enrollment) are
administered by which federal agency? - Centers for Medicare and Medicaid Services
An accident and health insurance policy's premium requirements are set forth in which
of the following provisions? - Consideration clause
Proceeds payable under a life insurance contract to a policyowner in anticipation of
death are called - Accelerated benefits
James is covered with health insurance by two different insurers. The "insurance with
other insurers" provision in an individual health insurance policy allows an insurer to pay
benefits to the insured on a pro-rata basis when - The insurer was not notified prior to
the claim that the insured has other health coverage
Exam | Newest 2024/25
How long does one premium payment cover in a premium whole life policy - Full life of
the policy
The owner of a single premium deferred annuity (SPDA) - Makes only one premium
payment
Scott has a life insurance policy in which the dividends are left with the insurance
company. This particular policy may be paid up when the cash value plus accumulated
dividends - equal the net single premium for the same face amount at the insured's
attained age
Which statement concerning the Entire Contract provision in an individual accident and
health insurance policy is true - The agent doesn't have the authority to change the
policy or waive its provisions
Who normally pays the premiums for group credit life insurance? - borrower
Upon reaching age___, Medicare supplement coverage is offered on a guaranteed-
issued basis during the open enrollment period - 65
Which of these is NOT a true statement of the war exclusion? - Civil insurrections
apply
A license is NOT required when you are - providing referrals
An insurance producer is BEST defined as - a person who has a contract with an
insurance company to represent it
Which of the following actions by a producer would NOT result in a license suspension
or revocation - Producing an inadequate amount of new premium
A small employer in Oklahoma may NOT consist of more than___ eligible employees -
50
Which of the following is NOT true of participants in multiple-employer trusts -
Participants must purchase all coverages the trust offers
Periodic health claim payments MUST be made at least - Monthly
What happens to death benefit of a life insurance policy if the insured elects a partial
payment from the accelerated (living) benefit provision? - Reduced
, The standard provision of an accident and health insurance policy require that the -
Policy, endorsement, and attached papers constitute the "entire contract"
Dan has a major medical expense policy with a $200 deductible and an 80/20
coinsurance provision. He incurs covered medical expenses of $100 in November and
$400 in January. Under the carryover provision, what will the insurer pay? - $240
The promise of a discount in premium as an inducement to purchase insurance is
known as - Rebating
A characteristic of preferred provider organizations (PPO) is - If service is obtained
outside the PPO, benefits are reduced and costs increase
Which of these is a valid reason for an insurer's cancellation of a Medicare supplement
policy - Non-payment of premium
When does the producer give a premium receipt for a life insurance application? -
When the initial premium has been paid with the application
What is the face amount of a $50,000 graded death benefit life insurance policy when
the policy is issued? - Under $50,000, but increases annually until fully insured
Which of the following is considered a limited accident and health plan - Cancer plan
Which of the following is true regarding a person receiving a waiver of premium benefit
- The insured must be disabled for a period of time
How long must a life insurance policy be in effect before the policyowner may use the
nonforfeiture provision? - 3 years
All parts of the Medicare program (except for public information and enrollment) are
administered by which federal agency? - Centers for Medicare and Medicaid Services
An accident and health insurance policy's premium requirements are set forth in which
of the following provisions? - Consideration clause
Proceeds payable under a life insurance contract to a policyowner in anticipation of
death are called - Accelerated benefits
James is covered with health insurance by two different insurers. The "insurance with
other insurers" provision in an individual health insurance policy allows an insurer to pay
benefits to the insured on a pro-rata basis when - The insurer was not notified prior to
the claim that the insured has other health coverage
