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Exam (elaborations)

Oklahoma Life And Health Insurance Exam Study Guide Part 4 With 100% Complete Solution

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2024/2025 Written for academic year
Institution Oklahoma
Course Oklahoma
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Oklahoma Life And Health Insurance Exam Study Guide Part 4 With 100% Complete Solution

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Oklahoma Life And Health Insurance
Exam Study Guide Part 4 With 100%
Complete Solution
Oniaiparticipatingihealthiinsuranceipolicyiissuedibyiai
mutualiinsuranceicompany,idividendsipaiditoipolicyh
oldersiare

a)iPaidiatiaifixedirateieveryiyear.
b)iTaxableiasiordinaryiincome.
c)iGuaranteed.
d)iNotitaxableisinceitheiIRSitreatsithemiasiaireturniofi
aiportioniofitheipremiumipaid.i-iCorrectiAnswer-
D.iNotitaxableisinceitheiIRSitreatsithemiasiaireturniofi
aiportioniofitheipremiumipaid

Withiparticipatingipolicies,ipolicyownersiareientitled
itoidividends,iwhich,iinitheicaseiofimutualicompanies,i

areinontaxableibecauseitheyiareiconsiderediaireturni
ofiexcessipremiums.

AivalidicertificateiofiauthorityiisirequiredibyitheiCom
missioneriiniorderiforianiinsureritoitransactibusinessi
iniOklahoma.iSomeiexceptionsiapplyitoiinsuranceitra
nsactionsiforiwhichiaiCertificateiofiAuthorityiisinotire
quired.iWhichiofitheifollowingiareipermittediwithouti
aiCertificateiofiAuthority?

a)iInvestigationioficlaimsibyianiinsureriwhichihasirelo
catediinianotheristate
b)iSolicitationiandiinducementitoiinsurance
c)iPreliminaryiinsuranceinegotiation


iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol

, d)iEffectuationiofianiinsuranceicontracti-
iCorrectiAnswer-

A.iInvestigationioficlaimsibyianiinsureriwhichihasirelo
catediinianotheristate

AiCertificateiofiAuthorityiisinotirequirediforiinvestiga
tionioficlaimsibyianiinsureriwhichihasirelocatediinian
otheristateiasispecifiediiniO.S.i606i&i1101.

TheiPatientiProtectioniandiAffordableiCareiActiinclu
desialliofitheifollowingiprovisionsiEXCEPT

a)iRightitoiappeal.
b)iNoilifetimeidollarilimits.
c)iCoverageiforipreventiveibenefits.
d)iIndividualitaxideductioniforipremiumsipaid.i-
iCorrectiAnswer-

D.iIndividualitaxideductioniforipremiumsipaid

TheiActidoesinotiofferitaxideductionsiforihealthiinsur
anceipremiums.iTheiActidoesiofferiaitaxicredit,iwhichi
isidifferentifromiaitaxideduction.iAllitheiotheriprovisi
onsiareiincludediinitheiAct.

Whichiofitheifollowingibestidescribesiaimisrepresent
ation?

a)iMakingiaimaliciouslyicriticalistatementithatiisiinte
ndeditoiinjureianotheriperson
b)iDiscriminatingiamongiindividualsiofitheisameiinsu
ringiclass
c)iIssuingisalesimaterialiwithiexaggeratedistatement
siaboutipolicyibenefits



iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol

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