OKLAHOMA LIFE HEALTH INSURANCE SET
PRACTICE EXAM QUESTIONS AND ANSWERS SURE
A+
✔✔Which of the following health insurance plans charges a premium that cannot be
increased? - ✔✔Noncancelable
✔✔Barry offers Chris his mountain cabin for the weekend to secure his order for his
insurance business. This is an example of - ✔✔rebating
✔✔The insured's consideration given for a health insurance policy is - ✔✔the first
premium payment and the application
✔✔Who is protected with the "other insurance with this insurer" provision? -
✔✔Insurance company
✔✔What typically changes at the re-entry option date found in some term life policies? -
✔✔premium
✔✔The reason for backdating a policy is - ✔✔to obtain a premium rate based on an
earlier age
,✔✔Which of the following is NOT a condition that must be met for an accidental death
benefit to be paid? - ✔✔Cause of death must be from a job-related injury
✔✔What is the name of the period of time during which a new employee is ineligible for
group Health insurance coverage? - ✔✔Probationary period
✔✔An individual whose producer's license had been suspended continues to perform
insurance transactions illegally. This individual could be charged with a felony and fined
up to - ✔✔$5,000
✔✔When dealing with long-term care coverage, which of the following are classified as
ADLs? - ✔✔Eating, bathing, dressing, and mobility
✔✔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 be paid within how many days of the child's birth. - ✔✔31
✔✔What effect can a long-term care benefit rider have on a life insurance policy? -
✔✔reduced death benefit
✔✔K is an agent who takes an application for individual life insurance and accepts a
check from the client. He submits the application and check to the insurance company,
however the check was never signed by the applicant. If the application is approved,
when will coverage be effective? - ✔✔the date the agent delivered the policy, collected
the initial premium, and obtained a good health statement from the insured
✔✔How long do most states allow an insurance company to delay the payment of a
cash surrender under the Delayed Payment provision? - ✔✔6 months
✔✔Larry has a Major Medical Expense policy for his family with a $1,000 per family/per
year deductible and an 80/20 coinsurance provision. If Larry's family files four claims of
$400, $800, $100, and $700 in one year, how much will the insurance company pay? -
✔✔$800
✔✔The Change of Occupation provision in a Disability Income policy states that, in the
event the insured changes to a less hazardous occupation, which of the following may
apply? - ✔✔benefits can be increased in the event of a covered claim
✔✔If an employee loses employment, how long does the employee have to apply for
COBRA (continuation of coverage)? - ✔✔60 days
, ✔✔What does the rehabilitation benefit cover in a disability income policy? - ✔✔covers
the approved cost of the rehabilitation necessary to help a disabled insured return to
work
✔✔Which of these statement is NOT true regarding a cash value loan against a life
insurance policy? - ✔✔interest payments made by policyowner are deductible
✔✔Which of the following does a Medicare Advantage enrollee typically pay for? -
✔✔Small co-pay per visit or per service
✔✔In Oklahoma, how many hours of impatient care must be provided for an insured
mother and her newborn following delivery? - ✔✔48 hours for vaginal birth; 96 hours for
caesarean section
✔✔In the event of employment termination, a person covered by a group life policy also
has the right to convert such coverage to an individual policy within how many days
without proving insurability. - ✔✔31
✔✔How is the insured protected if a payor benefit rider is attached to the life insurance
policy? - ✔✔Premium payments are waived in the event the premium payor dies or
becomes disabled
✔✔The promise of a discount in premium as an inducement to purchase insurance is
known as - ✔✔rebating
✔✔A life insurance illustration showing future premiums being paid out of
nonguaranteed values must disclose that - ✔✔the policyowner may need to resume
premium payments depending on actual results
✔✔If a Texas company proposes, and/or makes an insurance contract by mail for an
Oklahoma resident, this is considered: - ✔✔business in the state of Oklahoma
✔✔Straight whole life insurance can be accurately described in all of these statements
EXCEPT - ✔✔policy protection normally expires at age 65
✔✔After an applicant reads and signs an insurance application, he/she should be
conscious of the fact that - ✔✔a false statement could lead to loss of coverage
✔✔If an individual would like to enroll in Medicare or seek public information about
Medicare, which federal agency handles this? - ✔✔Social Security Administration
✔✔How long does protection normally extend to under a limited pay whole life policy? -
✔✔Until age 100
PRACTICE EXAM QUESTIONS AND ANSWERS SURE
A+
✔✔Which of the following health insurance plans charges a premium that cannot be
increased? - ✔✔Noncancelable
✔✔Barry offers Chris his mountain cabin for the weekend to secure his order for his
insurance business. This is an example of - ✔✔rebating
✔✔The insured's consideration given for a health insurance policy is - ✔✔the first
premium payment and the application
✔✔Who is protected with the "other insurance with this insurer" provision? -
✔✔Insurance company
✔✔What typically changes at the re-entry option date found in some term life policies? -
✔✔premium
✔✔The reason for backdating a policy is - ✔✔to obtain a premium rate based on an
earlier age
,✔✔Which of the following is NOT a condition that must be met for an accidental death
benefit to be paid? - ✔✔Cause of death must be from a job-related injury
✔✔What is the name of the period of time during which a new employee is ineligible for
group Health insurance coverage? - ✔✔Probationary period
✔✔An individual whose producer's license had been suspended continues to perform
insurance transactions illegally. This individual could be charged with a felony and fined
up to - ✔✔$5,000
✔✔When dealing with long-term care coverage, which of the following are classified as
ADLs? - ✔✔Eating, bathing, dressing, and mobility
✔✔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 be paid within how many days of the child's birth. - ✔✔31
✔✔What effect can a long-term care benefit rider have on a life insurance policy? -
✔✔reduced death benefit
✔✔K is an agent who takes an application for individual life insurance and accepts a
check from the client. He submits the application and check to the insurance company,
however the check was never signed by the applicant. If the application is approved,
when will coverage be effective? - ✔✔the date the agent delivered the policy, collected
the initial premium, and obtained a good health statement from the insured
✔✔How long do most states allow an insurance company to delay the payment of a
cash surrender under the Delayed Payment provision? - ✔✔6 months
✔✔Larry has a Major Medical Expense policy for his family with a $1,000 per family/per
year deductible and an 80/20 coinsurance provision. If Larry's family files four claims of
$400, $800, $100, and $700 in one year, how much will the insurance company pay? -
✔✔$800
✔✔The Change of Occupation provision in a Disability Income policy states that, in the
event the insured changes to a less hazardous occupation, which of the following may
apply? - ✔✔benefits can be increased in the event of a covered claim
✔✔If an employee loses employment, how long does the employee have to apply for
COBRA (continuation of coverage)? - ✔✔60 days
, ✔✔What does the rehabilitation benefit cover in a disability income policy? - ✔✔covers
the approved cost of the rehabilitation necessary to help a disabled insured return to
work
✔✔Which of these statement is NOT true regarding a cash value loan against a life
insurance policy? - ✔✔interest payments made by policyowner are deductible
✔✔Which of the following does a Medicare Advantage enrollee typically pay for? -
✔✔Small co-pay per visit or per service
✔✔In Oklahoma, how many hours of impatient care must be provided for an insured
mother and her newborn following delivery? - ✔✔48 hours for vaginal birth; 96 hours for
caesarean section
✔✔In the event of employment termination, a person covered by a group life policy also
has the right to convert such coverage to an individual policy within how many days
without proving insurability. - ✔✔31
✔✔How is the insured protected if a payor benefit rider is attached to the life insurance
policy? - ✔✔Premium payments are waived in the event the premium payor dies or
becomes disabled
✔✔The promise of a discount in premium as an inducement to purchase insurance is
known as - ✔✔rebating
✔✔A life insurance illustration showing future premiums being paid out of
nonguaranteed values must disclose that - ✔✔the policyowner may need to resume
premium payments depending on actual results
✔✔If a Texas company proposes, and/or makes an insurance contract by mail for an
Oklahoma resident, this is considered: - ✔✔business in the state of Oklahoma
✔✔Straight whole life insurance can be accurately described in all of these statements
EXCEPT - ✔✔policy protection normally expires at age 65
✔✔After an applicant reads and signs an insurance application, he/she should be
conscious of the fact that - ✔✔a false statement could lead to loss of coverage
✔✔If an individual would like to enroll in Medicare or seek public information about
Medicare, which federal agency handles this? - ✔✔Social Security Administration
✔✔How long does protection normally extend to under a limited pay whole life policy? -
✔✔Until age 100
