Oklahoma Life Insurance Exam With
100% Correct And Verified Answers
WhichiofitheseiisiNOTianiUnfairiClaimsiSettlementiPr
actice?i-iCorrectiAnswer-
Providingiclaimipaymentsitoitheiinsuredsiunderitheig
uidelinesiofitheiinsuranceicontract
AilicenseeiMUSTinotifyitheicommissioneriofianiaddre
ssichangeiwithini___idaysiofitheichange.i-
iCorrectiAnswer-30
Whichiisianiaccurateidescriptionsiofitheipremiumiinia
igradedipremiumilifeiinsuranceipolicy?i-
iCorrectiAnswer-
Annualiincreasesiinipremiumiforiaistatedinumberiofiy
earsitheniremainsilevel
UnderiHIPAAi(HealthiInsuranceiPortabilityiandiAcco
untability)irequiresiguaranteeiissueiofiinsuranceiasil
ongiasithereihasinotibeenimoreithaniai___idayigapiinico
verage.i-iCorrectiAnswer-63
WhichiofitheseiwouldiNOTibeiaivalidireasonitoiaddithe
iwaiveriofipremiumirideritoiailifeiinsuranceipolicy?i-
iCorrectiAnswer-
Itiallowsiaipolicyiloanitoicoveripremiumipaymentsiifit
heipolicyowneribecomesitotallyidisabled
Ailifeiinsuranceipolicy'siwaiveriofipremiumiriderihasit
heiabilityitoi-iCorrectiAnswer-
relieveitheiinsurediofipremiumipaymentsifollowingia
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,niinitialiwaitingiperiodiafteritheiinsuredibecomesitot
allyidisabled
Whichistatementiconcerningiaidecreasingitermilifeip
olicyiisiaccurate?i-iCorrectiAnswer-
FaceiamountiDECREASESioveritheipolicyiperiod
Whatiminimumipercentageiofiallieligibleiemployeesi
mustiparticipateiiniaigroupilifeiinsuranceiplaniifitheip
remiumsiareicompletelyipaidiforibyitheiemployer?i-
iCorrectiAnswer-100%
Whoiisirequireditoinotifyitheiproduceriinitheieveniofia
ppointmentitermination?i-iCorrectiAnswer-Insurer
Howidoesitheicostiforiaisurvivorshipilifeipolicyicompa
reitoitheicostioficombiningitwoiseparateiindividualilif
eiinsuranceipolicies?i-iCorrectiAnswer-
Survivorshipilifeipolicyiisilower
Whichilifeiinsuranceipolicyiprovisioniallowsiaipolicyo
wneritoicancelitheipolicyiandireceiveiaifullirefundiwit
hiniailimiteditimeiperiodiafteripolicyidelivery?i-
iCorrectiAnswer-Freeilookiperiod
IfiaiTexasicompanyiproposes,iand/
orimakesianiinsuranceicontractibyimailiforianiOklaho
mairesident,ithisiisiconsidered:i-iCorrectiAnswer-
businessiinitheistateiofiOklahoma
Whenianiapplicantiappliesiforiailargeiamountiofilifeiin
suranceicoverage,iwhichiofitheifollowingiwouldilikelyi
NOTibeianiunderwritingirequirement?i-
iCorrectiAnswer-Eyeiexamination
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, Aisourceiofisupplementaliincomeiforiailifeiinsurancei
policyownericanibeiderivedifromithei-
iCorrectiAnswer-Cashivalue
Whenitheidisclosureiofianiinsured'sinonpubliciinform
ationiisiinvolved,iwhatiisitheiinsureriobligateditoido?i-
iCorrectiAnswer-
Giveinotice,iexplain,iandiallowioptingiout
WhichiofitheseiisiNOTianiunderwritingiresponsibilityi
ofiailifeiinsuranceiagenti?i-iCorrectiAnswer-
Determiningitheifinalirateiclassification
Whichiofitheseistatementsiregardingitheiextendedite
rmiinsuranceinonforfeitureioptioniiniailifeipolicyiisiac
curatei?i-iCorrectiAnswer-
Theipremiumitoipurchaseitheicoverageicomesifromith
eipolicy'sicashivalue
Theideathiproceedsiofiaicreditilifeiinsuranceipolicyiar
eitypicallyipaiditoithei-iCorrectiAnswer-Lender
Howilongicanianiinsurerilegallyideferipayingitheicashi
valueiofiaisurrenderedilifeiinsuranceipolicy?i-
iCorrectiAnswer-6imonths
Whatieffecticaniailongitermicareibenefitiriderihaveioni
ailifeiinsuranceipolicy?i-iCorrectiAnswer-
Reducedideathibenefit
WhichiofitheifollowingiactionsibyiaiproduceriwouldiN
OTiresultiiniailicenseisuspensioniorirevocation?i-
iCorrectiAnswer-Misdemeanoriconviction
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
100% Correct And Verified Answers
WhichiofitheseiisiNOTianiUnfairiClaimsiSettlementiPr
actice?i-iCorrectiAnswer-
Providingiclaimipaymentsitoitheiinsuredsiunderitheig
uidelinesiofitheiinsuranceicontract
AilicenseeiMUSTinotifyitheicommissioneriofianiaddre
ssichangeiwithini___idaysiofitheichange.i-
iCorrectiAnswer-30
Whichiisianiaccurateidescriptionsiofitheipremiumiinia
igradedipremiumilifeiinsuranceipolicy?i-
iCorrectiAnswer-
Annualiincreasesiinipremiumiforiaistatedinumberiofiy
earsitheniremainsilevel
UnderiHIPAAi(HealthiInsuranceiPortabilityiandiAcco
untability)irequiresiguaranteeiissueiofiinsuranceiasil
ongiasithereihasinotibeenimoreithaniai___idayigapiinico
verage.i-iCorrectiAnswer-63
WhichiofitheseiwouldiNOTibeiaivalidireasonitoiaddithe
iwaiveriofipremiumirideritoiailifeiinsuranceipolicy?i-
iCorrectiAnswer-
Itiallowsiaipolicyiloanitoicoveripremiumipaymentsiifit
heipolicyowneribecomesitotallyidisabled
Ailifeiinsuranceipolicy'siwaiveriofipremiumiriderihasit
heiabilityitoi-iCorrectiAnswer-
relieveitheiinsurediofipremiumipaymentsifollowingia
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
,niinitialiwaitingiperiodiafteritheiinsuredibecomesitot
allyidisabled
Whichistatementiconcerningiaidecreasingitermilifeip
olicyiisiaccurate?i-iCorrectiAnswer-
FaceiamountiDECREASESioveritheipolicyiperiod
Whatiminimumipercentageiofiallieligibleiemployeesi
mustiparticipateiiniaigroupilifeiinsuranceiplaniifitheip
remiumsiareicompletelyipaidiforibyitheiemployer?i-
iCorrectiAnswer-100%
Whoiisirequireditoinotifyitheiproduceriinitheieveniofia
ppointmentitermination?i-iCorrectiAnswer-Insurer
Howidoesitheicostiforiaisurvivorshipilifeipolicyicompa
reitoitheicostioficombiningitwoiseparateiindividualilif
eiinsuranceipolicies?i-iCorrectiAnswer-
Survivorshipilifeipolicyiisilower
Whichilifeiinsuranceipolicyiprovisioniallowsiaipolicyo
wneritoicancelitheipolicyiandireceiveiaifullirefundiwit
hiniailimiteditimeiperiodiafteripolicyidelivery?i-
iCorrectiAnswer-Freeilookiperiod
IfiaiTexasicompanyiproposes,iand/
orimakesianiinsuranceicontractibyimailiforianiOklaho
mairesident,ithisiisiconsidered:i-iCorrectiAnswer-
businessiinitheistateiofiOklahoma
Whenianiapplicantiappliesiforiailargeiamountiofilifeiin
suranceicoverage,iwhichiofitheifollowingiwouldilikelyi
NOTibeianiunderwritingirequirement?i-
iCorrectiAnswer-Eyeiexamination
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
, Aisourceiofisupplementaliincomeiforiailifeiinsurancei
policyownericanibeiderivedifromithei-
iCorrectiAnswer-Cashivalue
Whenitheidisclosureiofianiinsured'sinonpubliciinform
ationiisiinvolved,iwhatiisitheiinsureriobligateditoido?i-
iCorrectiAnswer-
Giveinotice,iexplain,iandiallowioptingiout
WhichiofitheseiisiNOTianiunderwritingiresponsibilityi
ofiailifeiinsuranceiagenti?i-iCorrectiAnswer-
Determiningitheifinalirateiclassification
Whichiofitheseistatementsiregardingitheiextendedite
rmiinsuranceinonforfeitureioptioniiniailifeipolicyiisiac
curatei?i-iCorrectiAnswer-
Theipremiumitoipurchaseitheicoverageicomesifromith
eipolicy'sicashivalue
Theideathiproceedsiofiaicreditilifeiinsuranceipolicyiar
eitypicallyipaiditoithei-iCorrectiAnswer-Lender
Howilongicanianiinsurerilegallyideferipayingitheicashi
valueiofiaisurrenderedilifeiinsuranceipolicy?i-
iCorrectiAnswer-6imonths
Whatieffecticaniailongitermicareibenefitiriderihaveioni
ailifeiinsuranceipolicy?i-iCorrectiAnswer-
Reducedideathibenefit
WhichiofitheifollowingiactionsibyiaiproduceriwouldiN
OTiresultiiniailicenseisuspensioniorirevocation?i-
iCorrectiAnswer-Misdemeanoriconviction
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol