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ALL RIGHTS RESERVED.
Practice Exam #2 Questions With Verified
Answers
Under the Oklahoma Insurance Code, a licensed insurance producer is prohibited from which of
the following? - Answers✔giving a gift of more than $100 value to a client as an inducement to
purchase insurance
Which of the following statements is NOT true concerning a controlled business under the
Oklahoma insurance Code? - Answers✔If a producer has obtains a license for the purpose of
writing controlled business, the insurance department will invalidate all controlled business
Which of the following would be considered rebating? - Answers✔giving a new policy owner a
portion of your commission
Under the Oklahoma Insurance Code, which of the following statements is NOT correct? -
Answers✔a high school diploma is required to obtain an insurance company appointment
A producer must notify the Oklahoma insurance department within what length of time after
changing his/her address? - Answers✔within 30 days
Which of the following is NOT a disciplinary action that may be taken by the Department of
insurance against a producer found guilty of an unfair trade practice? - Answers✔impose a jail
sentence of no more than 6 months
Under the Oklahoma Insurance Code, a temporary producer license: - Answers✔can be issued to
the representative of a deceased or disabled producer for a period of 180 days
If a producer's license is suspended or revokes. the Oklahoma insurance department may do all
of the following EXCEPT? - Answers✔impose a mandatory 6 month jail term
Giving something of value as an illegal inducement for someone to purchase insurance is known
as: - Answers✔rebating
All of the following are true regarding the insurance code except? - Answers✔a hearing is held
within 30 days after the insurance department receives the demand for a hearing
1
ALL RIGHTS RESERVED.
Practice Exam #2 Questions With Verified
Answers
Under the Oklahoma Insurance Code, a licensed insurance producer is prohibited from which of
the following? - Answers✔giving a gift of more than $100 value to a client as an inducement to
purchase insurance
Which of the following statements is NOT true concerning a controlled business under the
Oklahoma insurance Code? - Answers✔If a producer has obtains a license for the purpose of
writing controlled business, the insurance department will invalidate all controlled business
Which of the following would be considered rebating? - Answers✔giving a new policy owner a
portion of your commission
Under the Oklahoma Insurance Code, which of the following statements is NOT correct? -
Answers✔a high school diploma is required to obtain an insurance company appointment
A producer must notify the Oklahoma insurance department within what length of time after
changing his/her address? - Answers✔within 30 days
Which of the following is NOT a disciplinary action that may be taken by the Department of
insurance against a producer found guilty of an unfair trade practice? - Answers✔impose a jail
sentence of no more than 6 months
Under the Oklahoma Insurance Code, a temporary producer license: - Answers✔can be issued to
the representative of a deceased or disabled producer for a period of 180 days
If a producer's license is suspended or revokes. the Oklahoma insurance department may do all
of the following EXCEPT? - Answers✔impose a mandatory 6 month jail term
Giving something of value as an illegal inducement for someone to purchase insurance is known
as: - Answers✔rebating
All of the following are true regarding the insurance code except? - Answers✔a hearing is held
within 30 days after the insurance department receives the demand for a hearing
1
