©THEBRIGHT EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Oklahoma insurance health and life test
Questions With Verified Answers
Who is protected with the "other insurance with this insurer provision" - Answers✔policy owner
which would not be a location where skilled nursing care is provided - Answers✔personal
residence
how is a collared assignment used in a life insurance contract. - Answers✔transfer specific
ownership rights to a creatitor
an insurance producer would be found guilty of inducing a customer to purchase insurance in all
of the following situations except. - Answers✔giving the applicant merchandise worth $75 for
the purchase of insurance
what happens to a life insurance policy when the policy loan balance exceeds the cash value? -
Answers✔Policy will no longer be in force
Karen is considering replacing her individual accident and health insurance policy with another
individual policy. She has had issues in the past with her gall bladder that would be considered a
pre-existing condition. How will a pre-existing conditions exclusion affect Karen's new
insurance contract? - Answers✔may reduce her benefits
The principle source of information concerning an applicant's identity, age and marital status is
found in the - Answers✔completed application
Steve has a group disability income policy where the premiums are paid by his employer. He
elected to pay for additional residual disability coverage. Which of the following statements is
true? - Answers✔Steve will pay taxes on the benefit received from his employer but will receive
my residual disability benefits tax free.
these are all accurate statements regarding universal life insurance except. - Answers✔policy
loans are not permitter
A producer may begin to solicit insurance only when - Answers✔appointed by an insurer
Part A Medicare includes coverage for all of the following services except - Answers✔120 days
1
, ©THEBRIGHT EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
K is an agent who takes an application for individual life insurance and accepts a check from the
client. He submits the application and check to the insurance company, however the check was
never signed by the applicant. If the application is approved, when will coverage be effective? -
Answers✔the date the agent delivered the policy, collected the initial premium, and obtained a
good health statement from the insured
which action will trigger a penalty tax on premature distributions from a modified endowment
contract (MEC)? - Answers✔Policy Loans
Kevin has an existing life insurance policy and assigns it to another insurer for a new contract.
How would this transaction be treated for tax purposes? - Answers✔As a section 1035 exchange
Mike applied for life insurance and was issued a conditional receipt. He is later found to be
insurable and is issued a policy. When does his coverage become effective? - Answers✔Date of
insurance of the conditional receipt
which of the following is generally a form of group credit life insurance - Answers✔decreasing
term insurance
A policy owner suffers a covered accident and health insurance less on June 30 and submit the
proof of loss July 10. If the policy owner canceled July 2 what's happens ? - Answers✔claim
must be paid after proof of loss is received
when a life insurance or annuity replacement policy is sold, the policy owner has a right to return
the policy for a full refund of premium within - Answers✔20 days
medicare part A does not provide coverage for - Answers✔the first 3 pints of blood
the act of using misrepresentation to induce an insured person to terminate an existing policy and
purchase a new policy is referred as - Answers✔twisting
which of these policies is considered a whole life policy - Answers✔single premium life
which statement regarding universal life insurance is correct - Answers✔cash value
accumulations have a guaranteed minimum interest rate
a health insurer must provide a proof of loss form - Answers✔within 15 days of receipt of the
notice loss.
which of these may not be deducted from premium payments or the cash value of a variable life
insurance policy - Answers✔federal premium taxes
After the extended term life nonforfeiture option is chosen, the available insurance will be -
Answers✔level ten for a stated period of time
2
, ©THEBRIGHT EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Where will a life insurance policy's proceeds be directed to if all the beneficiaries die before the
insured? - Answers✔insured's estate
what happens when a policy owner borrows against the cash value of his life insurance policy -
Answers✔the policy proceeds would be reduced by the outstanding loan balance
where does the primary funding for medicare part A come from? - Answers✔Federal Payroll
Taxes
what happens to the death benefit of a life insurance policy of the insured elects a partial
payments from the accelerates living benefit provision - Answers✔Reduced
When a life insurance or annuity replacement policy its sold, the policy owner has a right to
return the policy for a full refund of premium within - Answers✔20 days
the responsibility for regulating the insurance continuing education requirements and approving
insurance continuing education courses belong to the - Answers✔Oklahoma insurance
department
all of these are considered features of whole life insurance except - Answers✔initial premium is
lower than for a equivalent amount of term insurance
in Oklahoma a small employer may not consist of more than how many eligible employees -
Answers✔50 employees
according to Oklahoma law which of the following must include coverage for equipment
supplies, and related services for the treatment of type 1 and type 2 diabetes when prescribed by
a physician or other licensed health care provider ? - Answers✔All individual or group health
contracts or agreements
proceeds payable under a life insurance contract to a policy owner in anticipation of death or
upon the occurrence of specified life threatening conditions as defined by the policy are best
described as - Answers✔accelerated benefits
under HIPAA requires guarantee issue of insurance as long as there has not been more than a
___________ day gap in coverage - Answers✔63
which of the following is considered to be a prosthodontics dental procedure - Answers✔Bridge
Work
individuals who participate in an HMO plan are called - Answers✔subscribers
It is the responsibility of the producer to report all of the following information to the insurance
commissioner except changes of their - Answers✔marital status
3
ALL RIGHTS RESERVED.
Oklahoma insurance health and life test
Questions With Verified Answers
Who is protected with the "other insurance with this insurer provision" - Answers✔policy owner
which would not be a location where skilled nursing care is provided - Answers✔personal
residence
how is a collared assignment used in a life insurance contract. - Answers✔transfer specific
ownership rights to a creatitor
an insurance producer would be found guilty of inducing a customer to purchase insurance in all
of the following situations except. - Answers✔giving the applicant merchandise worth $75 for
the purchase of insurance
what happens to a life insurance policy when the policy loan balance exceeds the cash value? -
Answers✔Policy will no longer be in force
Karen is considering replacing her individual accident and health insurance policy with another
individual policy. She has had issues in the past with her gall bladder that would be considered a
pre-existing condition. How will a pre-existing conditions exclusion affect Karen's new
insurance contract? - Answers✔may reduce her benefits
The principle source of information concerning an applicant's identity, age and marital status is
found in the - Answers✔completed application
Steve has a group disability income policy where the premiums are paid by his employer. He
elected to pay for additional residual disability coverage. Which of the following statements is
true? - Answers✔Steve will pay taxes on the benefit received from his employer but will receive
my residual disability benefits tax free.
these are all accurate statements regarding universal life insurance except. - Answers✔policy
loans are not permitter
A producer may begin to solicit insurance only when - Answers✔appointed by an insurer
Part A Medicare includes coverage for all of the following services except - Answers✔120 days
1
, ©THEBRIGHT EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
K is an agent who takes an application for individual life insurance and accepts a check from the
client. He submits the application and check to the insurance company, however the check was
never signed by the applicant. If the application is approved, when will coverage be effective? -
Answers✔the date the agent delivered the policy, collected the initial premium, and obtained a
good health statement from the insured
which action will trigger a penalty tax on premature distributions from a modified endowment
contract (MEC)? - Answers✔Policy Loans
Kevin has an existing life insurance policy and assigns it to another insurer for a new contract.
How would this transaction be treated for tax purposes? - Answers✔As a section 1035 exchange
Mike applied for life insurance and was issued a conditional receipt. He is later found to be
insurable and is issued a policy. When does his coverage become effective? - Answers✔Date of
insurance of the conditional receipt
which of the following is generally a form of group credit life insurance - Answers✔decreasing
term insurance
A policy owner suffers a covered accident and health insurance less on June 30 and submit the
proof of loss July 10. If the policy owner canceled July 2 what's happens ? - Answers✔claim
must be paid after proof of loss is received
when a life insurance or annuity replacement policy is sold, the policy owner has a right to return
the policy for a full refund of premium within - Answers✔20 days
medicare part A does not provide coverage for - Answers✔the first 3 pints of blood
the act of using misrepresentation to induce an insured person to terminate an existing policy and
purchase a new policy is referred as - Answers✔twisting
which of these policies is considered a whole life policy - Answers✔single premium life
which statement regarding universal life insurance is correct - Answers✔cash value
accumulations have a guaranteed minimum interest rate
a health insurer must provide a proof of loss form - Answers✔within 15 days of receipt of the
notice loss.
which of these may not be deducted from premium payments or the cash value of a variable life
insurance policy - Answers✔federal premium taxes
After the extended term life nonforfeiture option is chosen, the available insurance will be -
Answers✔level ten for a stated period of time
2
, ©THEBRIGHT EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Where will a life insurance policy's proceeds be directed to if all the beneficiaries die before the
insured? - Answers✔insured's estate
what happens when a policy owner borrows against the cash value of his life insurance policy -
Answers✔the policy proceeds would be reduced by the outstanding loan balance
where does the primary funding for medicare part A come from? - Answers✔Federal Payroll
Taxes
what happens to the death benefit of a life insurance policy of the insured elects a partial
payments from the accelerates living benefit provision - Answers✔Reduced
When a life insurance or annuity replacement policy its sold, the policy owner has a right to
return the policy for a full refund of premium within - Answers✔20 days
the responsibility for regulating the insurance continuing education requirements and approving
insurance continuing education courses belong to the - Answers✔Oklahoma insurance
department
all of these are considered features of whole life insurance except - Answers✔initial premium is
lower than for a equivalent amount of term insurance
in Oklahoma a small employer may not consist of more than how many eligible employees -
Answers✔50 employees
according to Oklahoma law which of the following must include coverage for equipment
supplies, and related services for the treatment of type 1 and type 2 diabetes when prescribed by
a physician or other licensed health care provider ? - Answers✔All individual or group health
contracts or agreements
proceeds payable under a life insurance contract to a policy owner in anticipation of death or
upon the occurrence of specified life threatening conditions as defined by the policy are best
described as - Answers✔accelerated benefits
under HIPAA requires guarantee issue of insurance as long as there has not been more than a
___________ day gap in coverage - Answers✔63
which of the following is considered to be a prosthodontics dental procedure - Answers✔Bridge
Work
individuals who participate in an HMO plan are called - Answers✔subscribers
It is the responsibility of the producer to report all of the following information to the insurance
commissioner except changes of their - Answers✔marital status
3
