1|Page
OKLAHOMA LIFE AND HEALTH INSURANCE TEST
2026 BANK 2 VERSIONS AND STUDY GUIDE EXAM
CURRENTLY TESTING EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS ||VERIFIED
EXAM!!!(100% CORRECT ANSWERS /ALREADY
GRADED A+||NEWEST EXAM!!!
All of the following are included as part of a contract in the
entire contract provision EXCEPT the
riders
application
changes made by the producer
policy - Answer-changes made by the producer
Health insurance involves two perils, accident and ____. -
Answer-sickness
All of the following riders can increase the death benefit
amount EXCEPT
Cost of Living
,2|Page
Waiver of Premium
Accidental Death Rider
Guaranteed Insurability - Answer-Waiver of Premium
Of the following dividend options, which of these is
taxable?
Reduction of premium
One year term
Paid-up additions
Accumulation at interest - Answer-Accumulation at
interest
Insurance that is designed to pay the balance of a loan if
the insured dies before the loan has been repaid in full is
life settlement
whole life
universal life
credit life - Answer-credit life
,3|Page
A temporary producer's license issued by the Insurance
Commissioner without examination is valid for a period of
no longer than
90 days
120 days
180 days
270 days - Answer-180 days
How do interest earnings accumulate in a deferred
annuity?
On a tax credit basis
On a tax-deferred basis
On a tax-free basis
On a taxable basis - Answer-On a tax-deferred basis
Tom has a home health care benefit and is confined to his
home. Which of these benefits is NOT typically covered?
Part-time nursing care
, 4|Page
Full-time nursing care
Physical therapy
Home health aides - Answer-Full-time nursing care
A beneficiary has just received a claim payment for a life
insurance policy. Which of the following is TRUE regarding
the federal income tax liability owed?
A flat tax of 10% is owed on all proceeds
Federal income tax is owed if proceeds exceed $250,000
No federal income tax is owed on life insurance proceeds
Tax liability owed depends on the type of life insurance
policy - Answer-No federal income tax is owed on life
insurance proceeds
Medicare Supplement coverage permits an open
enrollment period on a guaranteed issue basis upon
reaching
OKLAHOMA LIFE AND HEALTH INSURANCE TEST
2026 BANK 2 VERSIONS AND STUDY GUIDE EXAM
CURRENTLY TESTING EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS ||VERIFIED
EXAM!!!(100% CORRECT ANSWERS /ALREADY
GRADED A+||NEWEST EXAM!!!
All of the following are included as part of a contract in the
entire contract provision EXCEPT the
riders
application
changes made by the producer
policy - Answer-changes made by the producer
Health insurance involves two perils, accident and ____. -
Answer-sickness
All of the following riders can increase the death benefit
amount EXCEPT
Cost of Living
,2|Page
Waiver of Premium
Accidental Death Rider
Guaranteed Insurability - Answer-Waiver of Premium
Of the following dividend options, which of these is
taxable?
Reduction of premium
One year term
Paid-up additions
Accumulation at interest - Answer-Accumulation at
interest
Insurance that is designed to pay the balance of a loan if
the insured dies before the loan has been repaid in full is
life settlement
whole life
universal life
credit life - Answer-credit life
,3|Page
A temporary producer's license issued by the Insurance
Commissioner without examination is valid for a period of
no longer than
90 days
120 days
180 days
270 days - Answer-180 days
How do interest earnings accumulate in a deferred
annuity?
On a tax credit basis
On a tax-deferred basis
On a tax-free basis
On a taxable basis - Answer-On a tax-deferred basis
Tom has a home health care benefit and is confined to his
home. Which of these benefits is NOT typically covered?
Part-time nursing care
, 4|Page
Full-time nursing care
Physical therapy
Home health aides - Answer-Full-time nursing care
A beneficiary has just received a claim payment for a life
insurance policy. Which of the following is TRUE regarding
the federal income tax liability owed?
A flat tax of 10% is owed on all proceeds
Federal income tax is owed if proceeds exceed $250,000
No federal income tax is owed on life insurance proceeds
Tax liability owed depends on the type of life insurance
policy - Answer-No federal income tax is owed on life
insurance proceeds
Medicare Supplement coverage permits an open
enrollment period on a guaranteed issue basis upon
reaching
