OKLAHOMA PROPERTY CASUALTY EXAM SCRIPT
QUESTIONS AND ANSWERS MARKED A+
✔✔To protect policyholders, insureds, and claimants from insurers who become
insolvent. - ✔✔What is the purpose of the Property and Casualty Insurance Guaranty
Association.
✔✔A producer must be appointed to transact insurance business for at least one
insurer. - ✔✔Which of the following statements about the appointment of producers is
CORRECT?
✔✔A fine for not more than $5,000 - ✔✔An adjuster who does not comply with
Oklahoma's continuing education requirement may be subject to all of the EXCEPT.
✔✔Casualty - ✔✔Limited lines producers may be licenced to transact all of the following
insurance business EXCEPT
✔✔Being at least 21 years old - ✔✔All of the following are requirements to be licensed
as an adjuster in Oklahoma EXCEPT
✔✔The insurer obtaining reinsurance - ✔✔After an insurance policy has been renewed,
the policy may be canceled with 10 days notice for all the following reasons, EXCEPT.
✔✔Defamation - ✔✔Circulating maliciously critical statement about an insurer's
financial condition order to injure the insurer is called?
✔✔Paying bonuses to policyowners out of surplus accumulated from nonparticipating
insurance - ✔✔All of the following constitute unfair trade practices EXCEPT
✔✔Insurer - ✔✔Who is responsible for providing the proof of loss form?
✔✔60 days - ✔✔Usually, a proof of loss form must be completed and returned within
how many days of receipt?
✔✔90 days - ✔✔An insurer must respond to the insured after receiving the proof of loss
form within how many days?
✔✔Receive any new business directly through an eligible surplus lines licensee or
broker - ✔✔Before selling insurance to the public, an unauthorized insurer must?
✔✔6% - ✔✔What is the surplus lines premium tax rate?
✔✔25% - ✔✔The maximum amount of controlled business an agent may write without
being in violation of the Oklahoma insurance code is?
, ✔✔15 days - ✔✔A licensed resident producer must inform the Commissioner of a
change if address within how many days of the change?
✔✔Closing the Sale - ✔✔Which of the following courses would NOT be approved for
continuing education credit?
✔✔At time of sale and annually thereafter. - ✔✔A license must provide to customers a
clear and conspicuous written notice of the insurer's privacy policies and practices no
less frequently than
✔✔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?
QUESTIONS AND ANSWERS MARKED A+
✔✔To protect policyholders, insureds, and claimants from insurers who become
insolvent. - ✔✔What is the purpose of the Property and Casualty Insurance Guaranty
Association.
✔✔A producer must be appointed to transact insurance business for at least one
insurer. - ✔✔Which of the following statements about the appointment of producers is
CORRECT?
✔✔A fine for not more than $5,000 - ✔✔An adjuster who does not comply with
Oklahoma's continuing education requirement may be subject to all of the EXCEPT.
✔✔Casualty - ✔✔Limited lines producers may be licenced to transact all of the following
insurance business EXCEPT
✔✔Being at least 21 years old - ✔✔All of the following are requirements to be licensed
as an adjuster in Oklahoma EXCEPT
✔✔The insurer obtaining reinsurance - ✔✔After an insurance policy has been renewed,
the policy may be canceled with 10 days notice for all the following reasons, EXCEPT.
✔✔Defamation - ✔✔Circulating maliciously critical statement about an insurer's
financial condition order to injure the insurer is called?
✔✔Paying bonuses to policyowners out of surplus accumulated from nonparticipating
insurance - ✔✔All of the following constitute unfair trade practices EXCEPT
✔✔Insurer - ✔✔Who is responsible for providing the proof of loss form?
✔✔60 days - ✔✔Usually, a proof of loss form must be completed and returned within
how many days of receipt?
✔✔90 days - ✔✔An insurer must respond to the insured after receiving the proof of loss
form within how many days?
✔✔Receive any new business directly through an eligible surplus lines licensee or
broker - ✔✔Before selling insurance to the public, an unauthorized insurer must?
✔✔6% - ✔✔What is the surplus lines premium tax rate?
✔✔25% - ✔✔The maximum amount of controlled business an agent may write without
being in violation of the Oklahoma insurance code is?
, ✔✔15 days - ✔✔A licensed resident producer must inform the Commissioner of a
change if address within how many days of the change?
✔✔Closing the Sale - ✔✔Which of the following courses would NOT be approved for
continuing education credit?
✔✔At time of sale and annually thereafter. - ✔✔A license must provide to customers a
clear and conspicuous written notice of the insurer's privacy policies and practices no
less frequently than
✔✔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?
