Oklahoma Life and Health Insurance
Exam With complete solution | LATEST
2024/25 RATED A+
All of the following are included as part of a contract in the entire contract provision
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
EXCEPT the - changes made by the producer
ii ii ii ii ii ii ii ii ii ii
ii Health insurance involves two perils, accident and ____. - sickness
ii ii ii ii ii ii ii ii ii ii ii
All of the following riders can increase the death benefit amount EXCEPT - Waiver of
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Premium
ii
ii Of the following dividend options, which of these is taxable? - Accumulation at interest
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Insurance that is designed to pay the balance of a loan if the insured dies before the loan
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
has been repaid in full is - credit life
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A temporary producer's license issued by the Insurance Commissioner without
ii ii ii ii ii ii ii ii ii ii
examination is valid for a period of no longer than - 180 days
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
ii How do interest earnings accumulate in a deferred annuity? - On a tax-deferred basis
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Tom has a home health care benefit and is confined to his home. Which of these benefits is
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
NOT typically covered? - Full-time nursing care
ii ii ii ii ii ii ii ii ii
A beneficiary has just received a claim payment for a life insurance policy. Which of the
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
following is TRUE regarding the federal income tax liability owed? - No federal income tax
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
is owed on life insurance proceeds
ii ii ii ii ii ii
Medicare Supplement coverage permits an open enrollment period on a guaranteed issue
ii ii ii ii ii ii ii ii ii ii ii ii
basis upon reaching - age 65
ii ii ii ii ii ii ii ii
Group and Individual Health Insurance Policies for Women - Cover annual
ii ii ii ii ii ii ii ii ii ii ii ii ii
mammography screenings for women aged 40 and older
ii ii ii ii ii ii ii ii
ii Out-of-Pocket Payment Requirement - Deductible ii ii ii ii ii ii
ii Forms of Inducement in Oklahoma - Gift whose value is under $100
ii ii ii ii ii ii ii ii ii ii ii ii ii
Group Health Policy Renewal Denial under HIPAA - When contribution or participation
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
rules have been violated
ii ii ii ii
, Renewable Term Life Insurance Policy Renewal - At a predetermined date or age,
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
regardless of the insured's health
ii ii ii ii ii
Maternity Benefits Inpatient Care Duration - 48 hours for vaginal birth or 96 hours for
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
caesarean section
ii ii
ii Hospitalization Daily Payment Coverage - Hospital Indemnity ii ii ii ii ii ii ii ii
ii Reasons for Cancelling a Medicare Supplement Policy - Non-payment of premium
ii ii ii ii ii ii ii ii ii ii ii ii
ii Producer Disciplinary Action - Misappropriation of premium funds
ii ii ii ii ii ii ii ii ii
ii Extended Term Insurance Option Outcome - The protection ends ii ii ii ii ii ii ii ii ii ii
Disability Income plans which require that the insurer can NEVER change or alter
ii ii ii ii ii ii ii ii ii ii ii ii ii
premium rates are usually considered - Noncancellable
ii ii ii ii ii ii ii ii ii
In contrast to a guaranteed renewable policy, a noncancellable policy - may never raise
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
premiums
ii
ii What does the word 'level' in Level Term describe? - The face amount
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
All of these are considered key factors in underwriting life insurance EXCEPT - Marital
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
status
ii
A life insurance policyowner was injured in an automobile accident which results in a total
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
and permanent disability. Which rider would pay a monthly amount because of this
ii ii ii ii ii ii ii ii ii ii ii ii ii
disability? - Disability income rider
ii ii ii ii ii ii ii
In group health care, what is the purpose of the coordination of benefits provision? -
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Determines what is paid by the primary and secondary insurers in the event of a claim
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Which of the following provides Medicare supplement policies? - Private insurance
ii ii ii ii ii ii ii ii ii ii ii ii ii
companies
ii
After an insured gives notice of loss, what must he/she do if the insurer does not furnish
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
forms? - File written proof of loss
ii ii ii ii ii ii ii ii ii
The type of policy where the insurer can send a notice to the insured that the policy has
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
been cancelled in the middle of the term is called? - cancelable
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
ii An example of a presumptive disability would be - deafness
ii ii ii ii ii ii ii ii ii ii ii
A policyowner may choose which dividend option that uses the dividend to pay all or part of
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
the next premium due? - Reduction of premium dividend option
ii ii ii ii ii ii ii ii ii ii ii ii
Exam With complete solution | LATEST
2024/25 RATED A+
All of the following are included as part of a contract in the entire contract provision
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
EXCEPT the - changes made by the producer
ii ii ii ii ii ii ii ii ii ii
ii Health insurance involves two perils, accident and ____. - sickness
ii ii ii ii ii ii ii ii ii ii ii
All of the following riders can increase the death benefit amount EXCEPT - Waiver of
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Premium
ii
ii Of the following dividend options, which of these is taxable? - Accumulation at interest
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Insurance that is designed to pay the balance of a loan if the insured dies before the loan
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
has been repaid in full is - credit life
ii ii ii ii ii ii ii ii ii ii ii
A temporary producer's license issued by the Insurance Commissioner without
ii ii ii ii ii ii ii ii ii ii
examination is valid for a period of no longer than - 180 days
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
ii How do interest earnings accumulate in a deferred annuity? - On a tax-deferred basis
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Tom has a home health care benefit and is confined to his home. Which of these benefits is
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
NOT typically covered? - Full-time nursing care
ii ii ii ii ii ii ii ii ii
A beneficiary has just received a claim payment for a life insurance policy. Which of the
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
following is TRUE regarding the federal income tax liability owed? - No federal income tax
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
is owed on life insurance proceeds
ii ii ii ii ii ii
Medicare Supplement coverage permits an open enrollment period on a guaranteed issue
ii ii ii ii ii ii ii ii ii ii ii ii
basis upon reaching - age 65
ii ii ii ii ii ii ii ii
Group and Individual Health Insurance Policies for Women - Cover annual
ii ii ii ii ii ii ii ii ii ii ii ii ii
mammography screenings for women aged 40 and older
ii ii ii ii ii ii ii ii
ii Out-of-Pocket Payment Requirement - Deductible ii ii ii ii ii ii
ii Forms of Inducement in Oklahoma - Gift whose value is under $100
ii ii ii ii ii ii ii ii ii ii ii ii ii
Group Health Policy Renewal Denial under HIPAA - When contribution or participation
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
rules have been violated
ii ii ii ii
, Renewable Term Life Insurance Policy Renewal - At a predetermined date or age,
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
regardless of the insured's health
ii ii ii ii ii
Maternity Benefits Inpatient Care Duration - 48 hours for vaginal birth or 96 hours for
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
caesarean section
ii ii
ii Hospitalization Daily Payment Coverage - Hospital Indemnity ii ii ii ii ii ii ii ii
ii Reasons for Cancelling a Medicare Supplement Policy - Non-payment of premium
ii ii ii ii ii ii ii ii ii ii ii ii
ii Producer Disciplinary Action - Misappropriation of premium funds
ii ii ii ii ii ii ii ii ii
ii Extended Term Insurance Option Outcome - The protection ends ii ii ii ii ii ii ii ii ii ii
Disability Income plans which require that the insurer can NEVER change or alter
ii ii ii ii ii ii ii ii ii ii ii ii ii
premium rates are usually considered - Noncancellable
ii ii ii ii ii ii ii ii ii
In contrast to a guaranteed renewable policy, a noncancellable policy - may never raise
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
premiums
ii
ii What does the word 'level' in Level Term describe? - The face amount
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
All of these are considered key factors in underwriting life insurance EXCEPT - Marital
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
status
ii
A life insurance policyowner was injured in an automobile accident which results in a total
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
and permanent disability. Which rider would pay a monthly amount because of this
ii ii ii ii ii ii ii ii ii ii ii ii ii
disability? - Disability income rider
ii ii ii ii ii ii ii
In group health care, what is the purpose of the coordination of benefits provision? -
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Determines what is paid by the primary and secondary insurers in the event of a claim
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Which of the following provides Medicare supplement policies? - Private insurance
ii ii ii ii ii ii ii ii ii ii ii ii ii
companies
ii
After an insured gives notice of loss, what must he/she do if the insurer does not furnish
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
forms? - File written proof of loss
ii ii ii ii ii ii ii ii ii
The type of policy where the insurer can send a notice to the insured that the policy has
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
been cancelled in the middle of the term is called? - cancelable
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
ii An example of a presumptive disability would be - deafness
ii ii ii ii ii ii ii ii ii ii ii
A policyowner may choose which dividend option that uses the dividend to pay all or part of
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
the next premium due? - Reduction of premium dividend option
ii ii ii ii ii ii ii ii ii ii ii ii
