P&C OKLAHOMA LICENSE
EXAM
Merchandise in storage - ANSWERS-Marine and transportation
policies may provide coverage for all of the following EXCEPT?
While stocked on shelves at the retail store - ANSWERS-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 - ANSWERS-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 - ANSWERS-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 - ANSWERS-Head of Oklahoma insurance
department.
, Cannot have any financial interest in an insurer, agency, or insurance
transaction.
Commissioner of insurance - ANSWERS--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 - ANSWERS-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.
30 days - ANSWERS-_____ days in advance notice for nonrenewal
of homeowners or any personal residential insurance policy
Nonresident license - ANSWERS-Has the same rights and privileges
as a resident licensee.
12 months - ANSWERS-A lapsed producers license may be reinstated
within ______ months from the renewal due date without passing a
written examination.
EXAM
Merchandise in storage - ANSWERS-Marine and transportation
policies may provide coverage for all of the following EXCEPT?
While stocked on shelves at the retail store - ANSWERS-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 - ANSWERS-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 - ANSWERS-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 - ANSWERS-Head of Oklahoma insurance
department.
, Cannot have any financial interest in an insurer, agency, or insurance
transaction.
Commissioner of insurance - ANSWERS--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 - ANSWERS-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.
30 days - ANSWERS-_____ days in advance notice for nonrenewal
of homeowners or any personal residential insurance policy
Nonresident license - ANSWERS-Has the same rights and privileges
as a resident licensee.
12 months - ANSWERS-A lapsed producers license may be reinstated
within ______ months from the renewal due date without passing a
written examination.
