Oklahoma Insurance Licensing Exam With 100% Correct And Verified Answers

Oklahoma Insurance Licensing Exam
With 100% Correct And Verified Answers
Alliofitheifollowingiareicategoriesiofiailimitediinsuran
ceilicenseiEXCEPTi1)icropiinsurancei2)ivariableilifeii
nsurancei3)icreditilifeiinsurancei4)itraveliinsurancei-
iCorrectiAnswer-2)ivariableilifeiinsurance



Whatitermibestidescribesitheiactiofiwithholdingimate
rialiinformationithatiwouldibeicrucialitoianiunderwrit
ingidecision?
i1)iconcealmenti2)iwithholdingi3)ileadingi4)ibreachio

fiwarrantyi-iCorrectiAnswer-1)iconcealment

JohannaipurchasediaiNationaliFloodiInsuranceipolicy
i10idaysiafterihericommunityienteredianiemergencyip

rogram.iWheniwouldihericoverageibeieffective?
i1)i30idaysiafteritheiapplicationihasibeeniacceptedi2)i

12:01ipmionithei5thidayiafteritheiendorsementireque
stihasibeenimailedi3)i5idaysiafteritheiapplicationiandi
premiumipaymentiareimailedi4)i12:01iamitheidayiafte
ritheiapplicationiandipremiumipaymentiareimailedi-
iCorrectiAnswer-

4)i12:01iamitheidayiafteritheiapplicationiandipremiu
mipaymentiareimailed

Aitornadoithatidestroysipropertyiwouldibeianiexample
iofiwhichiofitheifollowing?

i1)iperili2)ipureiriski3)ilossi4)iphysicalihazardi-

iCorrectiAnswer-1)iperil



Whatitermiincludesidamageiwhereitheiinsurediperiliw
asitheiproximateicauseiofiloss?

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,1)iindirectilossi2)iconsequentialilossi3)inegligentilos
i

si4)idirectilossi-iCorrectiAnswer-4)idirectiloss

Aniinsured'sirooficosti$4,000iwheniinstalledi5iyearsia
go.iItihasibeenidamagedibyihailiandimustibeireplaced.
iTheinewiroofiwillicosti$6,000iatitoday'siprices.iIfitheir

oofihasibeenidepreciatingiati$200iperiyeariandihisipol
icyiisiACV,ihowimuchiwilliitipayitowarditheiinsured'sin
ewiroof?i1)i$1,000i2)i$4,000i3)i$5,000i4)i$6,000i-
iCorrectiAnswer-3)i$5,000



Whileianiinsuranceiwasitowingiaiutilityitraileriwithihi
siauto,itheitrailericamilooseiandiraniintoiaistoreifront.i
Whatipartiofitheiinsured'siautoipolicyiwouldipayiforith
eidamageitoitheistore?
i1)ipropertyidamageiliabilityi2)icollisionicoveragei3)ic

omprehensiveicoveragei4)ithisilossiwouldinotibeicove
redi-iCorrectiAnswer-1)ipropertyidamageiliability

TheiMailiCoverageiFormiisialwaysiwrittenioniaireporti
ngiformibasis;iafteritheiendiofieachireportingiperiodis
howniinitheideclarations,ireportsiareidueiwithini1)i30i
daysi2)i31idaysi3)i45idaysi4)i15idaysi-iCorrectiAnswer-
3)i45idays

Aistartupiusedicaridealershipibuysicarsiatiautoiauctio
nsiini30istates.iItiwantsitoibeicertainithatidamageicov
erageiisiprovidediwhenitheicarsiareidrivenioritranspor
tedifromitheiauctionsitoitheidealership.iIniregarditoit
heibusinessiautoiphysicalidamageicoverage,iwhichiisi
true?
i1)icoverageiisiprovidediifidealershipiemployeesiareiin

ipossessioniofitheisubjectiautomobilei2)icoverageiisip

rovidediatiadditionalipremiumi3)icoverageiisiprovide

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,diforitheiwholesaleiamountionlyi4)icoverageiisinotipro
vidediunderitheiformi-iCorrectiAnswer-
1)icoverageiisiprovidediifidealershipiemployeesiareiini
possessioniofitheisubjectiautomobile

WhatiisiNOTianiinsurediliabilityioniaiBAP?
i1)itheiowneriofiaicaritheiinsurediborrowsi2)ianyoneiu

singiaicoverediautoiwithipermissioni3)ianyoneiliableif
oritheiconductiofitheiinsuredi4)itheinamediinsurediini
anyicoverediautoi-iCorrectiAnswer-
1)itheiowneriofiaicaritheiinsurediborrows

Wheniapplyingiforianiindividualilifeiinsuranceipolicy,i
aniapplicantistatesithatiheiwentitoitheidoctoriforinaus
ea,ibutifailsitoimentionithatiheiwasialsoihavingiseverei
chestipains.iThisiisianiexampleiofi1)imisrepresentatio
ni2)ifraudi3)iwarrantyi4)iconcealmenti-
iCorrectiAnswer-4)iconcealment



Whichiofitheifollowingistatementsiisitrueiregardingiw
orkersicompensationicoverageiforisoleiproprietors?
i1)iit'sielectivei2)iit'sinotiallowedi3)iit'sionlyiallowedifo

risoleiproprietorsiinvolvediinihighiriskioccupationsi4)i
it'simandatoryi-iCorrectiAnswer-1)iit'sielective

Whichiofitheifollowingicommercialicrimeicoveragesiw
ouldicoveriailossiresultingifromitheftiofitheicompany'
simoneyiandisecuritiesifromitheiarmoredivehicleimak
ingiaidelivery?i1)ioutsideitheipremisesi2)iforgery/
alterationi3)irobberyiandisafeiburglaryi4)iinsideitheip
remisesi-iCorrectiAnswer-1)ioutsideitheipremises

WhichiofitheifollowingiisiNOTiainecessaryiqualificatio
niiniorderiforiaipersonitoiserveiasiaiCommissioneriofiI

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, nsuranceiiniOklahoma?
i1)istateiresidencyiforiatileasti5iyearsi2)iminimumiagei

ofi25i3)iaiminimumiofi5iyearsiofiexperienceiasiaidirect
oriofianiinsuranceicompanyi4)iminimumiofi5iyearsiofi
experienceiinitheiinsuranceiindustryi-
iCorrectiAnswer-

3)iaiminimumiofi5iyearsiofiexperienceiasiaidirectoriofi
aniinsuranceicompany

Aidealershipiloansiaicaritoiitsicustomeritoiuseiwhileith
eidealershipiisirepairingitheicustomer'sicar.iIfitheidea
lershipihasibusinessiautoiphysicalidamageicoverageia
ndiaicustomer'siautomobileiinsuranceidoesinoticoveri
damagesitoiloanericars,iwhichiofitheifollowingiisitrue
?
i1)itheiloanerivehicleiisicoveredibyitheibusinessiautoip

olicyi2)inoicoverageiisiprovidedi3)ionlyicoverageiforid
amageitoiaithirdiparty'sivehicleiisiprovidedi4)itheicust
omeriisipersonallyiliablei-iCorrectiAnswer-
1)itheiloanerivehicleiisicoveredibyitheibusinessiautoip
olicy

Iniaipersonaliautoipolicy,itheimedicalipaymentsicover
ageiisisimilaritoi1)iaccidentiinsurance,ibecauseiitihasi
theisameilimitsi2)ibodilyiinjuryicoverage,ibecauseiitip
aysitheiinsured'sidoctoribillsi3)ibodilyiinjuryicoverage
,ibecauseiitiprovidesilegaliprotectioniifitheiinsuredica
usesiinjuriesitoiothersi4)iaccidentiinsurance,ibecause
iitipaysimedicaliexpensesiregardlessiofifault.i-

iCorrectiAnswer-

4)iaccidentiinsurance,ibecauseiitipaysimedicaliexpen
sesiregardlessiofifault.




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