Oklahoma Life and Health Insurance Exam
Questions with Detailed Verified Answers (100%
Correct Answers) /Already Graded A+
All of the following are included as part of a contract in the entire contract
provision EXCEPT the Answer: changes made by the producer
Health insurance involves two perils, accident and ____. Answer: sickness
All of the following riders can increase the death benefit amount EXCEPT
Answer: Waiver of Premium
Of the following dividend options, which of these is taxable? Answer:
Accumulation at interest
Insurance that is designed to pay the balance of a loan if the insured dies
before the loan has been repaid in full is Answer: credit life
A temporary producer's license issued by the Insurance Commissioner without
examination is valid for a period of no longer than Answer: 180 days
How do interest earnings accumulate in a deferred annuity? Answer: On a tax-
deferred basis
Tom has a home health care benefit and is confined to his home. Which of
these benefits is NOT typically covered? Answer: Full-time nursing care
A beneficiary has just received a claim payment for a life insurance policy.
Which of the following is TRUE regarding the federal income tax liability owed?
Answer: No federal income tax is owed on life insurance proceeds
Medicare Supplement coverage permits an open enrollment period on a
guaranteed issue basis upon reaching Answer: age 65
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, Group and Individual Health Insurance Policies for Women Answer: Cover
annual mammography screenings for women aged 40 and older
Out-of-Pocket Payment Requirement Answer: Deductible
Forms of Inducement in Oklahoma Answer: Gift whose value is under $100
Group Health Policy Renewal Denial under HIPAA Answer: When contribution
or participation rules have been violated
Renewable Term Life Insurance Policy Renewal Answer: At a predetermined
date or age, regardless of the insured's health
Maternity Benefits Inpatient Care Duration Answer: 48 hours for vaginal birth
or 96 hours for caesarean section
Hospitalization Daily Payment Coverage Answer: Hospital Indemnity
Reasons for Cancelling a Medicare Supplement Policy Answer: Non-payment of
premium
Producer Disciplinary Action Answer: Misappropriation of premium funds
Extended Term Insurance Option Outcome Answer: The protection ends
Disability Income plans which require that the insurer can NEVER change or
alter premium rates are usually considered Answer: Noncancellable
In contrast to a guaranteed renewable policy, a noncancellable policy Answer:
may never raise premiums
What does the word 'level' in Level Term describe? Answer: The face amount
All of these are considered key factors in underwriting life insurance EXCEPT
Answer: Marital status
© 2025 Get it right Stuvia US All rights reserved
Questions with Detailed Verified Answers (100%
Correct Answers) /Already Graded A+
All of the following are included as part of a contract in the entire contract
provision EXCEPT the Answer: changes made by the producer
Health insurance involves two perils, accident and ____. Answer: sickness
All of the following riders can increase the death benefit amount EXCEPT
Answer: Waiver of Premium
Of the following dividend options, which of these is taxable? Answer:
Accumulation at interest
Insurance that is designed to pay the balance of a loan if the insured dies
before the loan has been repaid in full is Answer: credit life
A temporary producer's license issued by the Insurance Commissioner without
examination is valid for a period of no longer than Answer: 180 days
How do interest earnings accumulate in a deferred annuity? Answer: On a tax-
deferred basis
Tom has a home health care benefit and is confined to his home. Which of
these benefits is NOT typically covered? Answer: Full-time nursing care
A beneficiary has just received a claim payment for a life insurance policy.
Which of the following is TRUE regarding the federal income tax liability owed?
Answer: No federal income tax is owed on life insurance proceeds
Medicare Supplement coverage permits an open enrollment period on a
guaranteed issue basis upon reaching Answer: age 65
© 2025 Get it right Stuvia US All rights reserved
, Group and Individual Health Insurance Policies for Women Answer: Cover
annual mammography screenings for women aged 40 and older
Out-of-Pocket Payment Requirement Answer: Deductible
Forms of Inducement in Oklahoma Answer: Gift whose value is under $100
Group Health Policy Renewal Denial under HIPAA Answer: When contribution
or participation rules have been violated
Renewable Term Life Insurance Policy Renewal Answer: At a predetermined
date or age, regardless of the insured's health
Maternity Benefits Inpatient Care Duration Answer: 48 hours for vaginal birth
or 96 hours for caesarean section
Hospitalization Daily Payment Coverage Answer: Hospital Indemnity
Reasons for Cancelling a Medicare Supplement Policy Answer: Non-payment of
premium
Producer Disciplinary Action Answer: Misappropriation of premium funds
Extended Term Insurance Option Outcome Answer: The protection ends
Disability Income plans which require that the insurer can NEVER change or
alter premium rates are usually considered Answer: Noncancellable
In contrast to a guaranteed renewable policy, a noncancellable policy Answer:
may never raise premiums
What does the word 'level' in Level Term describe? Answer: The face amount
All of these are considered key factors in underwriting life insurance EXCEPT
Answer: Marital status
© 2025 Get it right Stuvia US All rights reserved
