Oklahoma Insurance (Actual) Exam
Graded A+
A life insurance policy which provides for accelerated benefits may be issued only when
which of the following criterion are met? - ANSWER-The name of the policy denotes
accelerated benefits
A minor may contract for life or accident and health insurance on subjects of insurance
in which he has an insurable interest if the minor is at least: - ANSWER-16
A notice of appointment to the commisioner in OK has to be made within how many
days? - ANSWER-15 days
A producer who fails to comply with the continuing education requirements may, after
notice and the opportunity of a hearing, be subject to: - ANSWER-Censure;
Suspension;
Nonrenewal of license;
Civil fine of up to $500; or
Any combination civil fine and other named penalty.
A termination of an appointment by the commissioner in OK has to be made within how
many days? - ANSWER-30 days
All of the following are criteria for the insurance Commissioner to issue an insurance
producer license, EXCEPT: - ANSWER-a good education
All of the following are true regarding nonresident producer licensing, EXCEPT: -
ANSWER-Nonresident licensees must plan on moving to Oklahoma within 6 months.
An incorporated insurer without capital stock or shares and owned by its policyholders is
a: - ANSWER-Mutual insurer
An insurance "advertisement" does NOT refer to: - ANSWER-A contract for insurance
between two partie
Consumer credit reports with fraud alerts: - ANSWER-May not be used for credit or
insurance applications without consent of the consumer
Consumers must be notified of which of the following? - ANSWER-Disclosure terms and
conditions
Every licensee must keep records pertaining to authorized transactions available and
open to the inspection of the Commissioner at any time during business hours for: -
ANSWER-3 years
Graded A+
A life insurance policy which provides for accelerated benefits may be issued only when
which of the following criterion are met? - ANSWER-The name of the policy denotes
accelerated benefits
A minor may contract for life or accident and health insurance on subjects of insurance
in which he has an insurable interest if the minor is at least: - ANSWER-16
A notice of appointment to the commisioner in OK has to be made within how many
days? - ANSWER-15 days
A producer who fails to comply with the continuing education requirements may, after
notice and the opportunity of a hearing, be subject to: - ANSWER-Censure;
Suspension;
Nonrenewal of license;
Civil fine of up to $500; or
Any combination civil fine and other named penalty.
A termination of an appointment by the commissioner in OK has to be made within how
many days? - ANSWER-30 days
All of the following are criteria for the insurance Commissioner to issue an insurance
producer license, EXCEPT: - ANSWER-a good education
All of the following are true regarding nonresident producer licensing, EXCEPT: -
ANSWER-Nonresident licensees must plan on moving to Oklahoma within 6 months.
An incorporated insurer without capital stock or shares and owned by its policyholders is
a: - ANSWER-Mutual insurer
An insurance "advertisement" does NOT refer to: - ANSWER-A contract for insurance
between two partie
Consumer credit reports with fraud alerts: - ANSWER-May not be used for credit or
insurance applications without consent of the consumer
Consumers must be notified of which of the following? - ANSWER-Disclosure terms and
conditions
Every licensee must keep records pertaining to authorized transactions available and
open to the inspection of the Commissioner at any time during business hours for: -
ANSWER-3 years
