Oklahoma Life and Health Final Exam Questions and Answers 100% Solved

Oklahoma Life and Health Final Exam Questions and Answers 100% Solved Which of the following covers the Part A deductible of Medicare? Medicare supplement core benefits Taxable income may be the result from all of these modified endowment contract (MEC) transactions EXCEPT for The policy is surrendered for less than what was paid into it What is considered a valid reason for an insurer's refusal to pay policy proceeds directly to an minor? Minors are normally not capable of handling money in a reasonable manner The Insurance Information and Privacy Protection Act is designed to limit or direct the information collection activities of all the following, EXCEPT: COBRA representatives Which health policy clause specifies the amount of benefits to be paid? Insuring An insured files for an accident and health insurance policy claim eight days after the premium due date. The benefit payable is $500 and the overdue premium is $200. Assuming that the policy pays on a first-dollar basis and contains the unpaid premium provision, how much will the insurer pay? $300 A producer may be disciplined by the Commissioner for which of the following actions? Misappropriation of premium funds When would evidence of insurability be required for a person already covered with a variable universal life policy? When the death benefit is increased Which of the following provisions allows an insured or the insurer to terminate the policy? Cancelable provision How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? 3 years Under an adjustable life insurance policy, which of the following may NOT be changed without further underwriting? The person insured James is covered with health insurance by two different insurers. The "insurance with other insurers" provision in an individual health insurance policy allows an insurer to pay benefits to the insured on a pro-rata basis when The insurer was not notified prior to the claim that the insured has other health coverage What is guaranteed cash value of a whole life insurance policy when the insured turns 65 years old? Less than the policy's face amount An annuity's accumulation period may Continues after the purchase payments stop Which statement is NOT true regarding health insurance policies that provide limited benefits? Only persons under the age of 65 are eligible If a new policy is replacing an existing one the insured is given the right to return for a full refund of at least ____ days after policy delivery 20 After the initial enrollment period for Medicare Part B has expired, when may an individual purchase again? January through March of each year