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OKLAHOMA LIFE AND HEALTH INSURANCE TEST
2026-2027 BANK VERSIONS AND 100%STUDY GUIDE
EXAM CURRENTLY TESTING EXAM QUESTIONS
WITH DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS /ALREADY GRADED A+|BRAND
NEW VERSION!!
Fixed Amount - ANSWER-Elizabeth is the beneficiary of a
life insurance policy. She is receiving the death benefit in
payments of $10,000 per month until the principal and
interest has been paid out. Which option was chosen?
Mortality is calculated by using a large risk pool of
hobbies and time
people and time
family history and geographical area
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insurance companies and agents - ANSWER-people and
time-
Which of these factors help determine an insured's life
insurance premium?
insured's salary
marital status
place of residence
avocation (hobby) - ANSWER-avocation (hobby)
Tonya has replaced her whole life policy with an annuity
without incurring a tax penalty. This transaction is called
a(n)
Modified Exchange
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Endowment Exchange
1040 Exchange
1035 Exchange - ANSWER-1035 Exchange
Proceeds from a life insurance policy are protected from
the beneficiary's creditors by which clause?
protection clause
creditor clause
spendthrift trust clause
beneficiary trust clause - ANSWER-spendthrift trust
clause
A life insurance claim which involves a per capita
distribution of policy proceeds would be payable to the
OKLAHOMA LIFE AND HEALTH INSURANCE TEST
2026-2027 BANK VERSIONS AND 100%STUDY GUIDE
EXAM CURRENTLY TESTING EXAM QUESTIONS
WITH DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS /ALREADY GRADED A+|BRAND
NEW VERSION!!
Fixed Amount - ANSWER-Elizabeth is the beneficiary of a
life insurance policy. She is receiving the death benefit in
payments of $10,000 per month until the principal and
interest has been paid out. Which option was chosen?
Mortality is calculated by using a large risk pool of
hobbies and time
people and time
family history and geographical area
,2|Page
insurance companies and agents - ANSWER-people and
time-
Which of these factors help determine an insured's life
insurance premium?
insured's salary
marital status
place of residence
avocation (hobby) - ANSWER-avocation (hobby)
Tonya has replaced her whole life policy with an annuity
without incurring a tax penalty. This transaction is called
a(n)
Modified Exchange
, 3|Page
Endowment Exchange
1040 Exchange
1035 Exchange - ANSWER-1035 Exchange
Proceeds from a life insurance policy are protected from
the beneficiary's creditors by which clause?
protection clause
creditor clause
spendthrift trust clause
beneficiary trust clause - ANSWER-spendthrift trust
clause
A life insurance claim which involves a per capita
distribution of policy proceeds would be payable to the
