P&C Oklahoma State
Regulations questions with
verified solutions(updated)
A licensee who does not comply with the continuing education requirements
outlined in the Oklahoma Insurance Code is subject to what penalties? - answer
Suspended license, double license fee and a civil fine of $100 - $1,000
The maximum obligation of the Oklahoma Property and Casualty Insurance
Guaranty Association for property and casualty losses, other then worker's
compensation, is: - answer $150,000
A mutual insurer is owned by: - answer Policyowners
All of the following are true regarding the Oklahoma Property and Casualty
Guaranty Association, EXCEPT:
a. protects up to $150,000 total for property coverage
b. protects up to $150,000 total for liability coverage
c. is an association of domestic insurers that promotes the insurance industry
d. requires that all authorized insurers in the state be members of the association
- answer c. is an association of domestic insurers that promotes the insurance
industry
Under the Oklahoma Insurance Code, all of the following statements are true
regarding a producer or adjuster license, EXCEPT:
a. licensee can not have been convicted of a felony
b. licensee is required to have a high school diploma or GED equivalent
c. a licensee could have filed personal bankruptcy and still be eligible
d. a licensee is required to pass the licensing exam with a 70% or higher - answer
b. licensee is required to have a high school diploma or GED equivalent
Any licensee receiving a written notice form the Oklahoma Insurance
Commissioner regarding a potential violation of the Oklahoma Insurance Code
shall respond when? - answer Within 30 days
Regulations questions with
verified solutions(updated)
A licensee who does not comply with the continuing education requirements
outlined in the Oklahoma Insurance Code is subject to what penalties? - answer
Suspended license, double license fee and a civil fine of $100 - $1,000
The maximum obligation of the Oklahoma Property and Casualty Insurance
Guaranty Association for property and casualty losses, other then worker's
compensation, is: - answer $150,000
A mutual insurer is owned by: - answer Policyowners
All of the following are true regarding the Oklahoma Property and Casualty
Guaranty Association, EXCEPT:
a. protects up to $150,000 total for property coverage
b. protects up to $150,000 total for liability coverage
c. is an association of domestic insurers that promotes the insurance industry
d. requires that all authorized insurers in the state be members of the association
- answer c. is an association of domestic insurers that promotes the insurance
industry
Under the Oklahoma Insurance Code, all of the following statements are true
regarding a producer or adjuster license, EXCEPT:
a. licensee can not have been convicted of a felony
b. licensee is required to have a high school diploma or GED equivalent
c. a licensee could have filed personal bankruptcy and still be eligible
d. a licensee is required to pass the licensing exam with a 70% or higher - answer
b. licensee is required to have a high school diploma or GED equivalent
Any licensee receiving a written notice form the Oklahoma Insurance
Commissioner regarding a potential violation of the Oklahoma Insurance Code
shall respond when? - answer Within 30 days
