Oklahoma Life & Health Insurance Exam Questions and Answers 100% Correct(SCORED A+)

In Oklahoma, a life insurance policy loan may NOT exceed an interest rate of - ANSWER-8% Under HIPAA requirements, eligibility for the pre-existing conditions exclusion waiver under new coverage is lost if - ANSWER-there is a break in coverage of more than 63 days Which of the following health insurance provisions requires that the application becomes part of the policy? - ANSWER-Entire Contract clause impatient psychiatric care is covered under Part A Medicare for 190 days per - ANSWER-lifetime What happens when a policyowner borrows against the cash value of his life insurance policy? - ANSWER-The policy proceeds would be reduced by the outstanding loan balance ABC Corporation purchases and is beneficiary of an individual disability income insurance policy on a key employee. Which of the following statements is true? - ANSWER-Benefits are received tax-free by the company All parts of the Medicare program (except for public information and enrollment) are administered by which federal agency? - ANSWER-The Centers of Medicare and Medicaid Services Which of the following is NOT an intended use of an annuity? - ANSWER-Create new fund