OKLAHOMA LIFE AND HEALTH STATE EXAM 2024
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 non...
OKLAHOMA LIFE AND HEALTH STATE EXAM 2024 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
The PRIMARY purpose of the Fair Credit and Reporting Act is to - correct answer ✔✔ protect consumers with guidelines regarding credit reporting and distribution
Which of the following would be the advantage of replacing an existing health insurance policy with a new one? - correct answer ✔✔ The existing policy no longer meets the needs of the insured
A Fraternal Benefit Society has each of the following characteristics EXCEPT - correct answer ✔✔ Exists For profit
To legally receive a sales commission from an insurance company, an individual MUST - correct answer✔✔ hold the appropriate license
A transaction in which a new life insurance policy is purchased and an existing life insurance policy is surrendered is called - correct answer ✔✔ replacement
A life insurance policy becomes incontestable after it has been in force for - correct answer ✔✔ 2 years
A form of an accelerated death benefit is a - correct answer ✔✔ terminal illness settlement benefit 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
A life insurance illustration showing future premiums being paid out of nonguaranteed values must disclose that - correct answer ✔✔ The policyowner may need to resume premium payments depending on actual results
In Oklahoma, a small employer may not consist of more than how many eligible employees? - correct answer✔✔ 50 employees
Which of the following plans require a replacement disclosure notice be given to the applicant in the event of policy replacement? - correct answer ✔✔ Individual Major Medical Expense policy
Under an individual or group health insurance policy, an insured's newborn child must be covered - correct answer✔✔ From the moment of birth, once the insurer is notified of the birth
The responsibility for regulating the insurance continuing education requirements and approving insurance continuing education courses belongs to the - correct answer ✔✔ Oklahoma Insurance Department
Jerry is a resident producer who has moved to another city in Oklahoma. How long does he have to notify the Insurance Commissioner of the change of address? - correct answer ✔✔ 30 days
The Oklahoma Insurance Commissioner is REQUIRED to examine domestic insurers AT LEAST every - correct answer✔✔ 5 years
What is the term used when exchanging a new policy for one already in force? - correct answer ✔✔ replacement
Group and individual health insurance policies that provide coverage to women must cover annual mammography screenings for women aged: - correct answer ✔✔ 40 and older
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