©THEBRIGHT EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Oklahoma Insurance Life Exam Questions
With Verified Answers
What type of insurer operates for proft and has no capital stock? - Answers✔mutual
Which is true regarding an insurer examination order by the Oklahoma insurance department -
Answers✔It must be ordered every five years and the insurance pays for the exam
All of the following is true regarding an Oklahoma life and health guarantee association except -
Answers✔Life policies are covered up to the amount of the death benefit plus the cash value
A mutual ensure - Answers✔Is a participating company owned by policy owners
And ensure with home office in Illinois and sales offices in Oklahoma would be a -
Answers✔Foreign insurer
Blue Cross Blue Shield is what type of insurance or because they pay to the services -
Answers✔Service
What type of insurer operates nonprofit - Answers✔Fraternal
All of the following are true statement regarding the appointment of an insurance producer
except - Answers✔An insurer must notify the Oklahoma insurance department with 30 days after
terminating an appointment
What is the specific amount of time a license he must notify the Oklahoma insurance department
of an address change - Answers✔30 days
An agent who resides in another state is called - Answers✔Non-resident agent
In the case of death or disability of a licensed insurance producer, a temporary license maybe
issued to another person for an initial specific period of time time - Answers✔180 days
Which of the following would have to meet Oklahoma continue education requirements -
Answers✔Life agent selling only annuities
1
, ©THEBRIGHT EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Insurance producers most account for all premiums collected from policy owners the producer is
acting and what kind of capacity - Answers✔Fiduciary
The commissioner my issue a temporary license for What specified period of time -
Answers✔180 days
Which of the following be considered an unfair claims practice - Answers✔Not effecting in good
faith to settle the claim
Regarding replacing an existing insurance life insurance policy which is not true -
Answers✔Insurers must report the replacement of life and health guarantee association
What is the penalty for a producer guilty of violation of the unfair trade practices act -
Answers✔Civil fine of $100-$1000 and revoked license
Certain elements are necessary for a particular race to be insurable which of the following would
make a bisque uninsurable - Answers✔A risk is of a catastrophic nature
All the following statements are true regarding an actuary except - Answers✔Select risk for the
insurance
Which type of risk management technique is being used when the insured buys an insurance
policy - Answers✔Transfer
If an individual decides to except the risk associated with the loss and not purchase insurance
they are using what risk management method - Answers✔Retaining
For a risk to be insurable all the following required except - Answers✔Must involve a number of
didsimilar risk
Speculative risk involves all of the following except - Answers✔Insurance
A person decides to drive home and icy roads what type of hazard exist - Answers✔Physical
Which of the following is not true regarding a speculative risk - Answers✔Insurance can be
written on speculative risk
The law of large number of states - Answers✔The larger the number of units considered the
more predictable are the losses
All of the following are elements of insurable risk except - Answers✔Lost must be initial
Which of the following is not true regarding insurance - Answers✔Insurance is a device for
handling speculative risk
2
ALL RIGHTS RESERVED.
Oklahoma Insurance Life Exam Questions
With Verified Answers
What type of insurer operates for proft and has no capital stock? - Answers✔mutual
Which is true regarding an insurer examination order by the Oklahoma insurance department -
Answers✔It must be ordered every five years and the insurance pays for the exam
All of the following is true regarding an Oklahoma life and health guarantee association except -
Answers✔Life policies are covered up to the amount of the death benefit plus the cash value
A mutual ensure - Answers✔Is a participating company owned by policy owners
And ensure with home office in Illinois and sales offices in Oklahoma would be a -
Answers✔Foreign insurer
Blue Cross Blue Shield is what type of insurance or because they pay to the services -
Answers✔Service
What type of insurer operates nonprofit - Answers✔Fraternal
All of the following are true statement regarding the appointment of an insurance producer
except - Answers✔An insurer must notify the Oklahoma insurance department with 30 days after
terminating an appointment
What is the specific amount of time a license he must notify the Oklahoma insurance department
of an address change - Answers✔30 days
An agent who resides in another state is called - Answers✔Non-resident agent
In the case of death or disability of a licensed insurance producer, a temporary license maybe
issued to another person for an initial specific period of time time - Answers✔180 days
Which of the following would have to meet Oklahoma continue education requirements -
Answers✔Life agent selling only annuities
1
, ©THEBRIGHT EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Insurance producers most account for all premiums collected from policy owners the producer is
acting and what kind of capacity - Answers✔Fiduciary
The commissioner my issue a temporary license for What specified period of time -
Answers✔180 days
Which of the following be considered an unfair claims practice - Answers✔Not effecting in good
faith to settle the claim
Regarding replacing an existing insurance life insurance policy which is not true -
Answers✔Insurers must report the replacement of life and health guarantee association
What is the penalty for a producer guilty of violation of the unfair trade practices act -
Answers✔Civil fine of $100-$1000 and revoked license
Certain elements are necessary for a particular race to be insurable which of the following would
make a bisque uninsurable - Answers✔A risk is of a catastrophic nature
All the following statements are true regarding an actuary except - Answers✔Select risk for the
insurance
Which type of risk management technique is being used when the insured buys an insurance
policy - Answers✔Transfer
If an individual decides to except the risk associated with the loss and not purchase insurance
they are using what risk management method - Answers✔Retaining
For a risk to be insurable all the following required except - Answers✔Must involve a number of
didsimilar risk
Speculative risk involves all of the following except - Answers✔Insurance
A person decides to drive home and icy roads what type of hazard exist - Answers✔Physical
Which of the following is not true regarding a speculative risk - Answers✔Insurance can be
written on speculative risk
The law of large number of states - Answers✔The larger the number of units considered the
more predictable are the losses
All of the following are elements of insurable risk except - Answers✔Lost must be initial
Which of the following is not true regarding insurance - Answers✔Insurance is a device for
handling speculative risk
2
