OKLAHOMA PROPERTY CASUALTY ACTUAL FINAL PAPER
QUESTIONS AND ANSWERS MARKED A+
✔✔Failing to notify the Commissioner of a change of address - ✔✔The Commissioner
may suspended the license of a producer for any of the following EXCEPT
✔✔$5,000 and jailed for up to 5 years - ✔✔A producer who continues to transact
insurance after the commissioner has suspended his license may be fined a maximum
of
✔✔Rebating - ✔✔A producer is offering $500 gift certificates as an incentive to buy a
homeowners insurance policy. The producer is guilty of
✔✔Coercion if borrowers - ✔✔A new homeowner is being forced to buy insurance from
a particular insurer as a condition of receiving a mortgage. The lender is guilty of
✔✔Total partial disability - ✔✔All of the following benefits may be paid according to a
schedule of a compensation EXCEPT
✔✔52 weeks - ✔✔Payments for temporary partial disability may NOT exceed how many
weeks in the aggregate?
✔✔$10,000 - ✔✔According to the Oklahoma Workers Compensation Act, the most an
employer will have to pay for actual funeral expenses for a deceased employee is
✔✔3 days - ✔✔Employees who are temporarily totally disabled do NOT receive any
disability benefits under workers compensation for how many calendar days after the
disability occurs?
✔✔Within 5 days - ✔✔Within how many days of being informed of an employee
workplace injury must the employer provide reasonable and necessary medical care?
✔✔70% - ✔✔Spouses of deceased employees are entitled to what percentage of the
employee's average weekly wages?
✔✔Social security number of the insured - ✔✔Which of the following is NOT a required
provision in a motor vehicle policy issued in Oklahoma?
✔✔25/50/25 - ✔✔What are the minimum limits of coverage for a motor vehicle liability
policy issued in Oklahoma?
✔✔3 years - ✔✔Insured motorist who successfully complete a motor vehicle accident
prevention.
, ✔✔12:01 am Standard time on the expiration date noted on policy - ✔✔All motor
vehicle liability policies expire at
✔✔Auto Assigned Risk Plan - ✔✔Which of the following provides motor vehicles liability
insurance to those applicants who would otherwise be uninsurable?
✔✔Requesting a partial refund of payment on a claim, when such payment was in
excess of the claim - ✔✔Which of the following is NOT an unfair claims settlement
practice?
✔✔Merchandise in storage - ✔✔Marine and transportation policies may provide
coverage for all of the following EXCEPT?
✔✔While stocked on shelves at the retail store - ✔✔Acme Imports has purchased a
large number of wooden salt and pepper shakers from Poland and will import them to
the United States. The shipment will be covered by an inland marine insurance policy
while in all of the following places EXCEPT?
✔✔Inducements - ✔✔A producer may not offer as an inducement any of the following to
an insured or prospective insured
-Employment
-advisory board contracts promising special profits
-prize or merchandise worth more than $100
✔✔Misrepresentation - ✔✔It is illegal to make any written or oral statement, sales
presentation, or comparison that misrepresents the dividends, benefits, advantages
conditions or term of any policy.
✔✔Insurance commissioner - ✔✔Head of Oklahoma insurance department.
Cannot have any financial interest in an insurer, agency, or insurance transaction.
✔✔Commissioner of insurance - ✔✔-Conducting investigations and examinations
-Making reasonable rules and regulations
-issuing orders and notices
-imposing penalties— including fines, suspensions, and revocations.
-issuing insurance licenses and certificates of authority.
✔✔Guaranty Association - ✔✔The purpose is to provide for the payment of the covered
claims of an insolvent insurer.
Every insurer authorized to transact insurance of the type covered by the association is
a member of the association.
QUESTIONS AND ANSWERS MARKED A+
✔✔Failing to notify the Commissioner of a change of address - ✔✔The Commissioner
may suspended the license of a producer for any of the following EXCEPT
✔✔$5,000 and jailed for up to 5 years - ✔✔A producer who continues to transact
insurance after the commissioner has suspended his license may be fined a maximum
of
✔✔Rebating - ✔✔A producer is offering $500 gift certificates as an incentive to buy a
homeowners insurance policy. The producer is guilty of
✔✔Coercion if borrowers - ✔✔A new homeowner is being forced to buy insurance from
a particular insurer as a condition of receiving a mortgage. The lender is guilty of
✔✔Total partial disability - ✔✔All of the following benefits may be paid according to a
schedule of a compensation EXCEPT
✔✔52 weeks - ✔✔Payments for temporary partial disability may NOT exceed how many
weeks in the aggregate?
✔✔$10,000 - ✔✔According to the Oklahoma Workers Compensation Act, the most an
employer will have to pay for actual funeral expenses for a deceased employee is
✔✔3 days - ✔✔Employees who are temporarily totally disabled do NOT receive any
disability benefits under workers compensation for how many calendar days after the
disability occurs?
✔✔Within 5 days - ✔✔Within how many days of being informed of an employee
workplace injury must the employer provide reasonable and necessary medical care?
✔✔70% - ✔✔Spouses of deceased employees are entitled to what percentage of the
employee's average weekly wages?
✔✔Social security number of the insured - ✔✔Which of the following is NOT a required
provision in a motor vehicle policy issued in Oklahoma?
✔✔25/50/25 - ✔✔What are the minimum limits of coverage for a motor vehicle liability
policy issued in Oklahoma?
✔✔3 years - ✔✔Insured motorist who successfully complete a motor vehicle accident
prevention.
, ✔✔12:01 am Standard time on the expiration date noted on policy - ✔✔All motor
vehicle liability policies expire at
✔✔Auto Assigned Risk Plan - ✔✔Which of the following provides motor vehicles liability
insurance to those applicants who would otherwise be uninsurable?
✔✔Requesting a partial refund of payment on a claim, when such payment was in
excess of the claim - ✔✔Which of the following is NOT an unfair claims settlement
practice?
✔✔Merchandise in storage - ✔✔Marine and transportation policies may provide
coverage for all of the following EXCEPT?
✔✔While stocked on shelves at the retail store - ✔✔Acme Imports has purchased a
large number of wooden salt and pepper shakers from Poland and will import them to
the United States. The shipment will be covered by an inland marine insurance policy
while in all of the following places EXCEPT?
✔✔Inducements - ✔✔A producer may not offer as an inducement any of the following to
an insured or prospective insured
-Employment
-advisory board contracts promising special profits
-prize or merchandise worth more than $100
✔✔Misrepresentation - ✔✔It is illegal to make any written or oral statement, sales
presentation, or comparison that misrepresents the dividends, benefits, advantages
conditions or term of any policy.
✔✔Insurance commissioner - ✔✔Head of Oklahoma insurance department.
Cannot have any financial interest in an insurer, agency, or insurance transaction.
✔✔Commissioner of insurance - ✔✔-Conducting investigations and examinations
-Making reasonable rules and regulations
-issuing orders and notices
-imposing penalties— including fines, suspensions, and revocations.
-issuing insurance licenses and certificates of authority.
✔✔Guaranty Association - ✔✔The purpose is to provide for the payment of the covered
claims of an insolvent insurer.
Every insurer authorized to transact insurance of the type covered by the association is
a member of the association.
