OKLAHOMA LIFE HEALTH INSURANCE UPDATED
EXAMS SCRIPT QUESTIONS AND ANSWERS SURE A+
✔✔Tim is covered by an accident and health insurance policy that may not be changed
in any way by the insurer up to a stated age, as long as the premiums are paid. What
type of policy is this? - ✔✔Noncancelable
✔✔How long does one premium payment cover in a single premium whole life policy? -
✔✔full life of the policy
✔✔The interest credited to the cash values of personally-owned non-qualified annuities
is considered - ✔✔tax-deferred
✔✔Which of the following statements accurately describes the "time limit on certain
defenses"? - ✔✔After a stated period of time, claims cannot be denied due to material
misrepresentation on the application
✔✔Producers must complete how many hours of continuing education biannually. -
✔✔24
✔✔Who may terminate coverage under a cancelable health insurance policy? - ✔✔the
insurer or the insured
,✔✔The amount of a covered loss to be paid by the insured before a major medical
expense policy begins to pay is called the - ✔✔deductible amount
✔✔What could be the potential result of taking out a cash value loan under a life
insurance policy? - ✔✔Reduces the amount receivable upon surrender of the contract
✔✔Which of these statements regarding the extended term insurance nonforfeiture
option in a life policy is accurate? - ✔✔The premium to purchase the coverage comes
from the policy's cash value
✔✔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
✔✔What must be given to a life insurance applicant when the agent receives an
application and the initial premium? - ✔✔Conditional receipt
✔✔A medical expense health plan claim may be denied due to material
misrepresentation within how many years of issue. - ✔✔two
✔✔A preferred provider plan and an indemnity plan are similar in what way? - ✔✔Both
pay on a fee-for-service basis
✔✔Who is required to notify the producer in the event of appointment termination? -
✔✔Insurer
✔✔What kind of arrangement gives the policyowner the right to change the beneficiary?
- ✔✔Revocable designation
✔✔Proceeds payable under a life insurance contract to a policyowner in anticipation of
death are called - ✔✔accelerated benefits
✔✔The automatic premium loan provision can be accurately described as a -
✔✔provision that provides a policy loan to pay any premiums by the end of the grace
period
✔✔Which statement concerning a decreasing term life policy is accurate? - ✔✔face
amount decreases over the policy period
✔✔Which of the following is NOT a qualification to be licensed as a producer? -
✔✔High school diploma
, ✔✔An insured may be required to sign which document at policy delivery to ensure
there has not been any adverse medical conditions since the time of the application? -
✔✔Good health statement
✔✔An insured must notify an insurer of a medical claim within how many days after an
accident? - ✔✔20
✔✔When would evidence of insurability be required for a person already covered with a
variable universal life policy? - ✔✔When the death benefit is increased
✔✔On issuance of an emergency cease and desist, how must the Commissioner
deliver notice to the person affected? - ✔✔by certified mail
✔✔An individual who purchases a modified life insurance policy expects - ✔✔an
improvement in future income
✔✔When does the producer give a premium receipt for a life insurance application? -
✔✔When the initial premium has been paid with the application
✔✔A single-life annuity only has ONE - ✔✔annuitant
✔✔Which statement about group life insurance is INCORRECT? - ✔✔Each participant
requires evidence of insurability
✔✔Jerry is a resident producer who has moved to another city in Oklahoma. How long
does he have to notify the Insurance Commissioner of the change of address? - ✔✔30
days
✔✔Omar is covered by a disability income policy. He is hurt while performing an
occupation more hazardous than the occupation listed in his policy. The policy's change
of occupation provision will have what effect? - ✔✔reduce the benefit level
✔✔Peter, age 50, surrenders his modified endowment contract (MEC). How is the gain
treated in terms of federal income taxes? - ✔✔The gain is treated as taxable income
and a penalty tax is imposed on the gain.
✔✔Before emailing a client an insurance document during a transaction, what must the
client provide before the producer can send the document? - ✔✔consent to receive the
email
✔✔Some standard Medicare Supplement policies include which benefit? - ✔✔Hospice
care
EXAMS SCRIPT QUESTIONS AND ANSWERS SURE A+
✔✔Tim is covered by an accident and health insurance policy that may not be changed
in any way by the insurer up to a stated age, as long as the premiums are paid. What
type of policy is this? - ✔✔Noncancelable
✔✔How long does one premium payment cover in a single premium whole life policy? -
✔✔full life of the policy
✔✔The interest credited to the cash values of personally-owned non-qualified annuities
is considered - ✔✔tax-deferred
✔✔Which of the following statements accurately describes the "time limit on certain
defenses"? - ✔✔After a stated period of time, claims cannot be denied due to material
misrepresentation on the application
✔✔Producers must complete how many hours of continuing education biannually. -
✔✔24
✔✔Who may terminate coverage under a cancelable health insurance policy? - ✔✔the
insurer or the insured
,✔✔The amount of a covered loss to be paid by the insured before a major medical
expense policy begins to pay is called the - ✔✔deductible amount
✔✔What could be the potential result of taking out a cash value loan under a life
insurance policy? - ✔✔Reduces the amount receivable upon surrender of the contract
✔✔Which of these statements regarding the extended term insurance nonforfeiture
option in a life policy is accurate? - ✔✔The premium to purchase the coverage comes
from the policy's cash value
✔✔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
✔✔What must be given to a life insurance applicant when the agent receives an
application and the initial premium? - ✔✔Conditional receipt
✔✔A medical expense health plan claim may be denied due to material
misrepresentation within how many years of issue. - ✔✔two
✔✔A preferred provider plan and an indemnity plan are similar in what way? - ✔✔Both
pay on a fee-for-service basis
✔✔Who is required to notify the producer in the event of appointment termination? -
✔✔Insurer
✔✔What kind of arrangement gives the policyowner the right to change the beneficiary?
- ✔✔Revocable designation
✔✔Proceeds payable under a life insurance contract to a policyowner in anticipation of
death are called - ✔✔accelerated benefits
✔✔The automatic premium loan provision can be accurately described as a -
✔✔provision that provides a policy loan to pay any premiums by the end of the grace
period
✔✔Which statement concerning a decreasing term life policy is accurate? - ✔✔face
amount decreases over the policy period
✔✔Which of the following is NOT a qualification to be licensed as a producer? -
✔✔High school diploma
, ✔✔An insured may be required to sign which document at policy delivery to ensure
there has not been any adverse medical conditions since the time of the application? -
✔✔Good health statement
✔✔An insured must notify an insurer of a medical claim within how many days after an
accident? - ✔✔20
✔✔When would evidence of insurability be required for a person already covered with a
variable universal life policy? - ✔✔When the death benefit is increased
✔✔On issuance of an emergency cease and desist, how must the Commissioner
deliver notice to the person affected? - ✔✔by certified mail
✔✔An individual who purchases a modified life insurance policy expects - ✔✔an
improvement in future income
✔✔When does the producer give a premium receipt for a life insurance application? -
✔✔When the initial premium has been paid with the application
✔✔A single-life annuity only has ONE - ✔✔annuitant
✔✔Which statement about group life insurance is INCORRECT? - ✔✔Each participant
requires evidence of insurability
✔✔Jerry is a resident producer who has moved to another city in Oklahoma. How long
does he have to notify the Insurance Commissioner of the change of address? - ✔✔30
days
✔✔Omar is covered by a disability income policy. He is hurt while performing an
occupation more hazardous than the occupation listed in his policy. The policy's change
of occupation provision will have what effect? - ✔✔reduce the benefit level
✔✔Peter, age 50, surrenders his modified endowment contract (MEC). How is the gain
treated in terms of federal income taxes? - ✔✔The gain is treated as taxable income
and a penalty tax is imposed on the gain.
✔✔Before emailing a client an insurance document during a transaction, what must the
client provide before the producer can send the document? - ✔✔consent to receive the
✔✔Some standard Medicare Supplement policies include which benefit? - ✔✔Hospice
care
