Final Exam - Oklahoma Life and Health LATEST UPDATED QUESTIONS AND ANSWERS GUARANTEED TO
PASS!!
Interest is credited to a fixed annuity no lower than the - correct answer contract guaranteed
rate
Which of these statements regarding the extended term insurance nonforfeiture option is
accurate? - correct answer The premium to purchase the coverage comes from the policy's
cash value
The requirements for continuing education apply to all of the following EXCEPT - correct answer
customer service representatives
Which of the following health insurance provisions requires that the application becomes part
of the policy? - correct answer Entire Contract clause
A policyowner suffers a covered accident and health insurance loss on June 30 and submits the
proof of loss to the insurer July 10. If the policyowner cancelled the coverage on July 2, how will
the insurance company handle the claim? - correct answer Claim must be paid after proof of
loss is received
Which of the following is NOT covered by a comprehensive long-term care policy? - correct
answer Acute Care
A producer who is licensed in Oklahoma but resident in another state is called a - correct
answer Nonresident producer
What must be given to a life insurance applicant when the agent receives an application and
the initial premium? - correct answer Conditional Recepit
Which of the following could be a future use of the cash value that builds in a recently-
purchased whole life insurance policy? - correct answer Provide supplemental income in 35
years
Which of these is NOT a common life insurance nonforfeiture option? - correct answer Life
income annuity
A form of an accelerated death benefit is a - correct answer terminal illness settlement benefit
How long must a life insurance policy be in effect before the policyowner may use the
nonforfeiture provision? - correct answer 3 years
Field underwriting by a producer - correct answer may result in the disclosure of hazardous
activities of the applicant
Which statement concerning a deferred annuity contract is correct? - correct answer The
owner can be the beneficiary, annuitant, or neither
Who may terminate coverage under a cancelable health insurance policy? - correct answer The
insurer or the insured
, Final Exam - Oklahoma Life and Health LATEST UPDATED QUESTIONS AND ANSWERS GUARANTEED TO
PASS!!
Which statement is true about a permanent disability under workers compensation coverage? -
correct answer Coverage excludes nonoccupational injuries
According to Oklahoma Statute, commissions may be paid to - correct answer licensed and duly
appointed producers
A material change in a modified endowment contract (MEC) results in - correct answer the
seven pay test, adjusted for cash value, applies again
When a lapsed policy's premium has been paid current, it has the potential of being - correct
answer reinstated
How is a collateral assignment used in a life insurance contract? - correct answer transfers
specific ownership rights to a creditor
When a ten year renewable term life insurance policy issued at age 45 is renewed, the premium
rate will be the current rate for - correct answer ten year term insurance for a person aged 55
Which of the following does a Medicare Advantage enrollee typically pay for? - correct answer
Small co-pay per visit or per service
A producer may be disciplined by the Commissioner for which of the following actions? -
correct answer Misappropriation of premium funds
Which of the following does NOT help determine group health insurance premiums? - correct
answer claims experience of the group
Which of the following is NOT a condition that must be met for an accidental death benefit to
be paid? - correct answer cause of death must be from a job-related injury
Proceeds payable under a life insurance contract to a policyowner in anticipation of death or
upon the occurrence of specified life-threatening conditions as defined by the policy are best
described as: - correct answer accelerated benefits
James is covered with health insurance by two different insurers. The "insurance with other
insurers" provision in an individual health insurance policy allows an insurer to pay benefits to
the insured on a pro-rata basis when - correct answer the insurer was not notified prior to the
claim that the insured has other health coverage
Under what circumstance does an accident and health insurer have the right to request an
autopsy? - correct answer When not prohibited by state law
Social Security disability income requirements state that in order to become fully insured on a
permanent basis, you must have worked in a covered occupation for - correct answer 40
quarters
PASS!!
Interest is credited to a fixed annuity no lower than the - correct answer contract guaranteed
rate
Which of these statements regarding the extended term insurance nonforfeiture option is
accurate? - correct answer The premium to purchase the coverage comes from the policy's
cash value
The requirements for continuing education apply to all of the following EXCEPT - correct answer
customer service representatives
Which of the following health insurance provisions requires that the application becomes part
of the policy? - correct answer Entire Contract clause
A policyowner suffers a covered accident and health insurance loss on June 30 and submits the
proof of loss to the insurer July 10. If the policyowner cancelled the coverage on July 2, how will
the insurance company handle the claim? - correct answer Claim must be paid after proof of
loss is received
Which of the following is NOT covered by a comprehensive long-term care policy? - correct
answer Acute Care
A producer who is licensed in Oklahoma but resident in another state is called a - correct
answer Nonresident producer
What must be given to a life insurance applicant when the agent receives an application and
the initial premium? - correct answer Conditional Recepit
Which of the following could be a future use of the cash value that builds in a recently-
purchased whole life insurance policy? - correct answer Provide supplemental income in 35
years
Which of these is NOT a common life insurance nonforfeiture option? - correct answer Life
income annuity
A form of an accelerated death benefit is a - correct answer terminal illness settlement benefit
How long must a life insurance policy be in effect before the policyowner may use the
nonforfeiture provision? - correct answer 3 years
Field underwriting by a producer - correct answer may result in the disclosure of hazardous
activities of the applicant
Which statement concerning a deferred annuity contract is correct? - correct answer The
owner can be the beneficiary, annuitant, or neither
Who may terminate coverage under a cancelable health insurance policy? - correct answer The
insurer or the insured
, Final Exam - Oklahoma Life and Health LATEST UPDATED QUESTIONS AND ANSWERS GUARANTEED TO
PASS!!
Which statement is true about a permanent disability under workers compensation coverage? -
correct answer Coverage excludes nonoccupational injuries
According to Oklahoma Statute, commissions may be paid to - correct answer licensed and duly
appointed producers
A material change in a modified endowment contract (MEC) results in - correct answer the
seven pay test, adjusted for cash value, applies again
When a lapsed policy's premium has been paid current, it has the potential of being - correct
answer reinstated
How is a collateral assignment used in a life insurance contract? - correct answer transfers
specific ownership rights to a creditor
When a ten year renewable term life insurance policy issued at age 45 is renewed, the premium
rate will be the current rate for - correct answer ten year term insurance for a person aged 55
Which of the following does a Medicare Advantage enrollee typically pay for? - correct answer
Small co-pay per visit or per service
A producer may be disciplined by the Commissioner for which of the following actions? -
correct answer Misappropriation of premium funds
Which of the following does NOT help determine group health insurance premiums? - correct
answer claims experience of the group
Which of the following is NOT a condition that must be met for an accidental death benefit to
be paid? - correct answer cause of death must be from a job-related injury
Proceeds payable under a life insurance contract to a policyowner in anticipation of death or
upon the occurrence of specified life-threatening conditions as defined by the policy are best
described as: - correct answer accelerated benefits
James is covered with health insurance by two different insurers. The "insurance with other
insurers" provision in an individual health insurance policy allows an insurer to pay benefits to
the insured on a pro-rata basis when - correct answer the insurer was not notified prior to the
claim that the insured has other health coverage
Under what circumstance does an accident and health insurer have the right to request an
autopsy? - correct answer When not prohibited by state law
Social Security disability income requirements state that in order to become fully insured on a
permanent basis, you must have worked in a covered occupation for - correct answer 40
quarters
