Oklahoma Life and Health State Exam
Simulator With complete solution
A false written or oral statement made by a producer for the purpose of replacing an
existing policy to the detriment of the insured is - twisting
How long must a life insurance policy be in effect before the policyowner may use the
nonforfeiture provision? - 3 years
The PRIMARY purpose of the Fair Credit and Reporting Act is to - protect consumers
with guidelines regarding credit reporting and distribution
Which of the following would be the advantage of replacing an existing health
insurance policy with a new one? - The existing policy no longer meets the needs of
the insured
A Fraternal Benefit Society has each of the following characteristics EXCEPT - Exists
For profit
To legally receive a sales commission from an insurance company, an individual MUST
- hold the appropriate license
A transaction in which a new life insurance policy is purchased and an existing life
insurance policy is surrendered is called - replacement
A life insurance policy becomes incontestable after it has been in force for - 2 years
A form of an accelerated death benefit is a - terminal illness settlement benefit
Proceeds payable under a life insurance contract to a policyowner in anticipation of
death or upon the occurrence of specified life-threatening conditions as defined by the
policy are best described as: - Accelerated benefits
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
In Oklahoma, a small employer may not consist of more than how many eligible
employees? - 50 employees
Which of the following plans require a replacement disclosure notice be given to the
applicant in the event of policy replacement? - Individual Major Medical Expense policy
Simulator With complete solution
A false written or oral statement made by a producer for the purpose of replacing an
existing policy to the detriment of the insured is - twisting
How long must a life insurance policy be in effect before the policyowner may use the
nonforfeiture provision? - 3 years
The PRIMARY purpose of the Fair Credit and Reporting Act is to - protect consumers
with guidelines regarding credit reporting and distribution
Which of the following would be the advantage of replacing an existing health
insurance policy with a new one? - The existing policy no longer meets the needs of
the insured
A Fraternal Benefit Society has each of the following characteristics EXCEPT - Exists
For profit
To legally receive a sales commission from an insurance company, an individual MUST
- hold the appropriate license
A transaction in which a new life insurance policy is purchased and an existing life
insurance policy is surrendered is called - replacement
A life insurance policy becomes incontestable after it has been in force for - 2 years
A form of an accelerated death benefit is a - terminal illness settlement benefit
Proceeds payable under a life insurance contract to a policyowner in anticipation of
death or upon the occurrence of specified life-threatening conditions as defined by the
policy are best described as: - Accelerated benefits
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
In Oklahoma, a small employer may not consist of more than how many eligible
employees? - 50 employees
Which of the following plans require a replacement disclosure notice be given to the
applicant in the event of policy replacement? - Individual Major Medical Expense policy
