OKLAHOMA LIFE AND HEALTH STATE EXAM
SIMULATOR3/4 QUESTIONS AND CORRECT
ANSWERS VERIFIED LATEST 2023-2024 GRADE
A+
Which statement concerning adjustable life insurance is accurate? -
CORRECT ANSWER >>The face amount and premiums can be changed
simultaneously by the policyowner
Federally qualified HMO's must offer - CORRECT ANSWER >>family
planning services
How are monthly life annuity benefit payments treated under a tax
sheltered annuity (TSA)? - CORRECT ANSWER >>Taxed as ordinary
income in the year received
Insurable interest involves what assumption? - CORRECT ANSWER
>>One person benefits from another person's continued life
What does the rehabilitation benefit cover in a disability income policy? -
CORRECT ANSWER >>Covers the approved cost of the rehabilitation
necessary to help a disabled insured return to work
Which of the following relationships demonstrates insurable interest in the
absence of economic interest? - CORRECT ANSWER >>marriage partners
, Which life insurance settlement option pays a stated monthly benefit until
both principal and interest are exhausted? - CORRECT ANSWER >>Fixed
amount installment option
Which life insurance clause prohibits an insurance company from
questioning the validity of the contract after a stated period of time has
passed? - CORRECT ANSWER >>Incontestable clause
Which event triggers a deferred annuity to start making benefit payments to
the annuitant? - CORRECT ANSWER >>When the contract is annuitized
When a producer submits an application that discloses personal
information regarding the applicant, who supplies the privacy notice? -
CORRECT ANSWER >>producer
Which of the following best describes the presumptive disability provision? -
CORRECT ANSWER >>Waives the normal total disability requirements
Jerry has an indemnity plan which covers dental expenses. Typically, these
type of plans - CORRECT ANSWER >>cover preventative care once every
six months
A life insurance policyowner would like a dividend option that results in a
limited current outlay of funds. Which dividend option would be chosen? -
CORRECT ANSWER >>Reduction of premium payment
SIMULATOR3/4 QUESTIONS AND CORRECT
ANSWERS VERIFIED LATEST 2023-2024 GRADE
A+
Which statement concerning adjustable life insurance is accurate? -
CORRECT ANSWER >>The face amount and premiums can be changed
simultaneously by the policyowner
Federally qualified HMO's must offer - CORRECT ANSWER >>family
planning services
How are monthly life annuity benefit payments treated under a tax
sheltered annuity (TSA)? - CORRECT ANSWER >>Taxed as ordinary
income in the year received
Insurable interest involves what assumption? - CORRECT ANSWER
>>One person benefits from another person's continued life
What does the rehabilitation benefit cover in a disability income policy? -
CORRECT ANSWER >>Covers the approved cost of the rehabilitation
necessary to help a disabled insured return to work
Which of the following relationships demonstrates insurable interest in the
absence of economic interest? - CORRECT ANSWER >>marriage partners
, Which life insurance settlement option pays a stated monthly benefit until
both principal and interest are exhausted? - CORRECT ANSWER >>Fixed
amount installment option
Which life insurance clause prohibits an insurance company from
questioning the validity of the contract after a stated period of time has
passed? - CORRECT ANSWER >>Incontestable clause
Which event triggers a deferred annuity to start making benefit payments to
the annuitant? - CORRECT ANSWER >>When the contract is annuitized
When a producer submits an application that discloses personal
information regarding the applicant, who supplies the privacy notice? -
CORRECT ANSWER >>producer
Which of the following best describes the presumptive disability provision? -
CORRECT ANSWER >>Waives the normal total disability requirements
Jerry has an indemnity plan which covers dental expenses. Typically, these
type of plans - CORRECT ANSWER >>cover preventative care once every
six months
A life insurance policyowner would like a dividend option that results in a
limited current outlay of funds. Which dividend option would be chosen? -
CORRECT ANSWER >>Reduction of premium payment
