Oklahoma Life and Health State Exam Questions with 100% Correct Answers Bundled Package

In Oklahoma, a life insurance policy loan may NOT exceed an interest rate of Correct Answer 8% Under HIPAA requirements, eligibility for the pre-existing conditions exclusion waiver under new coverage is lost if Correct Answer there is a break in coverage of more than 63 days Which of the foll...

What type of insurer operates for proft and has no capital stock? Correct Answer mutual Which is true regarding an insurer examination order by the Oklahoma insurance department Correct Answer It must be ordered every five years and the insurance pays for the exam All of the following is true ...

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 requir...

Life Insurance Correct Answer Transfers to a life insurance company the risk of financial loss to an insurance company. Health Insurance Correct Answer transfers to a health insurance policy the risk of financial loss resulting from illness, injury, disability of an insured person. Risk Correc...

Which of the following is NOT a duty of the Insurance Commissioner? A. Appointing Actuaries during investigations B. Issuing certificates of authority to transact Insurance business in Oklahoma C. Writing Oklahoma Insurance laws D. Conducting Hearings Correct Answer C. Writing Oklahoma Insurance...

A person covered with an individual health plan is issued a policy is issued a certificate of medical costs does not contract directly with the insurance company is not subject to medical underwriting Correct Answer A person covered by an individual health plan is issued a policy. All He...

Who is protected with the "other insurance with this insurer provision" Correct Answer policy owner Which would not be a location where skilled nursing care is provided Correct Answer personal residence How is a collared assignment used in a life insurance contract. Correct Answer transfer s...

A licensee MUST notify the Commissioner of an address change within _______ days of the change. Correct Answer 30 Which of the following statements accurately describes the "time limit on certain defenses"? Correct Answer After a stated period of time, claims cannot be denied due to material mi...

Annual mammogram screening for women ___ and older must be covered under group and individual health insurance plans in Oklahoma Correct Answer 40 The producers license must be renewed every ____ years Correct Answer 2 If an individual would like to enroll in Medicare or see public information...

Which of the following covers the Part A deductible of Medicare? Correct Answer Medicare supplement core benefits Taxable income may be the result from all of these modified endowment contract (MEC) transactions EXCEPT for Correct Answer The policy is surrendered for less than what was paid into ...

A false written or oral statement made by a producer for the purpose of replacing an existing policy to the detriment of the insured is Correct Answer twisting How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? Correct Answer 3 years ...