Oklahoma insurance exam Study guides, Class notes & Summaries

Oklahoma Insurance Exam Latest 2024 Graded A+ Life Insurance Transfers to a life insurance company the risk of financial loss to an insurance company. Health Insurance transfers to a health insurance policy the risk of financial loss resulting from illness, injury, disability of an insured person. Risk Chance of loss: only pure risk is insurable. Loss Unplanned reduction in economic value. hazard a condition that increases the chance of a peril/setback/danger. Risk Transfe...

Oklahoma Insurance Exam (State Regulations) Questions and Answers Rated A+ Actuary a mathematician employed by the insurer who develops the rates for the insurer. Underwriter (Home Office Underwriter) and employee of the insurer What three things do Underwriters do? Gathers information analyses exposures (determines risk) selects risk for the insurer underwriting the process of selecting risks Producer (agent) (field underwriter) (agent underwriter) a person licensed to soli...

A business offers a group disability income plan and pays the premiums. If an employee suffers a disabling injury, the benefits paid to the employee will be: - Answer-axable income to the business deductible income to the employee a deductible business expense for the business taxable income to the employee A business overhead expense policy does NOT provide: - Answer-tax-free benefits a Medicare SELECT plan is - Answer-a managed care policy. A Medicare SELECT plan is a - Answer-managed c...

Oklahoma Insurance Exam Questions and Answers Latest (2024 / 2025) (Verified Answers)

Oklahoma Insurance Adjuster's License Exam Questions and Answers (Latest Update 2024)

Oklahoma Insurance Exam With Complete Solutions

Oklahoma Insurance Exam/183 Questions and Answers/A+ Graded

Life Insurance - ANSWER-Transfers to a life insurance company the risk of financial loss to an insurance company. Health Insurance - ANSWER-transfers to a health insurance policy the risk of financial loss resulting from illness, injury, disability of an insured person. Risk - ANSWER-Chance of loss: only pure risk is insurable. Loss - ANSWER-Unplanned reduction in economic value. hazard - ANSWER-a condition that increases the chance of a peril/setback/danger. Risk Transfer - ANSWE...

Oklahoma Insurance Exam (State Regulations)/118 Questions and Answers

a legally acceptable attempt by the existing insurer to retain the business after replacement form has been received is called?? - Conservation a mutual insurer: is a participating company owned by policy owners charges assessments to the policy owners if blains are higher than projected is an incorporated society or supreme lodge without capital is a group who shares risk and cannot sell life insurance - is a participating company owned by policy owners a producers commission on control...