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100% Pass Quiz Ok-Life-Accident-and-Health-or-Sickness-Producer - Authoritative Oklahoma Life, Accident, and Health or Sickness Producer Exam Latest Questions
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Insurance Licensing Oklahoma Life, Accident, and Health or Sickness Producer Exam Sample Questions (Q111-Q116):
NEW QUESTION # 111
Transacting insurance includes any of the following EXCEPT
- A. gathering prospective buyer information.
- B. preliminary negotiations.
- C. selling insurance.
- D. delivering insurance contracts.
Answer: A
Explanation:
Under Oklahoma's Insurance Code (Title 36 O.S. § 1435.2),transacting insuranceincludes activities such as soliciting or selling insurance, engaging in preliminary negotiations for insurance contracts, and delivering insurance contracts or collecting premiums.Gathering prospective buyer information(e.g., lead generation) is not considered transacting insurance unless it involves direct solicitation or negotiation.
* Option A: Incorrect (is transacting). Selling insurance is a core part of transacting insurance.
* Option B: Incorrect (is transacting). Preliminary negotiations are included in transacting insurance.
* Option C: Incorrect (is transacting). Delivering insurance contracts is part of transacting insurance.
* Option D: Correct (is not transacting). Gathering prospective buyer information alone does not constitute transacting insurance.
This question falls under the Prometric content outline section on "State Insurance Statutes, Rules, and Regulations," which covers the definition of transacting insurance.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: State- Specific Knowledge - Oklahoma Insurance Statutes).
Oklahoma Insurance Department, Title 36 O.S. § 1435.2 (definition of transacting insurance).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 112
Ordinary life insurance should BEST be viewed by the consumer as
- A. a type of policy that provides permanent protection and some flexibility for the lowest total premium outlay.
- B. an endowment type of policy that provides limited payment type of life insurance based on the level of income earned.
- C. temporary protection during the policyowner's income-earning years with cash values payable during non-earning periods.
- D. temporary protection for the life expectancy of the policyowner with accumulating cash values throughout the life of the policy.
Answer: A
Explanation:
Ordinary life insurance, often synonymous with whole life insurance, is a type of permanent life insurance that provides coverage for the insured's entire life, as long as premiums are paid. It typically includes a level premium, a guaranteed death benefit, and a cash value component that grows over time. It is designed to offer permanent protection with some flexibility, such as the ability to borrow against the cash value or adjust premiums in certain policies (e.g., universal life).
* Option A: Incorrect. This describes term life insurance, which provides temporary protection during income-earning years. Ordinary life insurance is permanent, and cash values are not specifically
"payable" during non-earning periods but can be accessed.
* Option B: Incorrect. Ordinary life is not an endowment policy (which matures at a specific age) or tied directly to income levels. It is a whole life policy with level premiums.
* Option C: Correct. Ordinary life insurance provides permanent protection and some flexibility (e.g., cash value loans, dividend options in participating policies) with premiums that are generally lower than other permanent products like limited-pay whole life.
* Option D: Incorrect. Ordinary life is not temporary; it provides lifelong coverage. While it accumulates cash value, the protection is permanent, not limited to the policyowner's life expectancy.
This question is part of the Prometric content outline under "Life Products," focusing on the characteristics of ordinary (whole) life insurance.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 4002 (definitions of life insurance products).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 113
Which of the following is a common exclusion from coverage under a medical expense plan?
- A. Injury due to auto accidents.
- B. Injury due to recreational sports.
- C. Air travel in a private plane.
- D. Injury caused by repairs or renovations to one's own home.
Answer: C
Explanation:
Medical expense plans often include exclusions for high-risk activities or situations not typically covered under standard health insurance. A common exclusion is injuries or losses resulting fromair travel in a private plane, as this is considered a hazardous activity. Other options, like auto accidents or recreational sports, are generally covered unless specifically excluded, and home repairs are not standard exclusions.
* Option A: Correct. Air travel in a private plane is a common exclusion due to its high-risk nature.
* Option B: Incorrect. Auto accident injuries are typically covered, often coordinated with auto insurance.
* Option C: Incorrect. Recreational sports injuries are usually covered unless the policy specifies otherwise.
* Option D: Incorrect. Injuries from home repairs are not commonly excluded in medical expense plans.
This question falls under the Prometric content outline section on "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers health insurance exclusions.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Accident and Health Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 4405 (health insurance policy provisions).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 114
The Oklahoma Insurance Commissioner is REQUIRED to examine domestic insurers' financial condition at LEAST every
- A. 4 years.
- B. 5 years.
- C. 6 years.
- D. 2 years.
Answer: B
Explanation:
Under Oklahoma's Insurance Code (Title 36 O.S. § 309.2), the Oklahoma Insurance Commissioner is required to examine the financial condition ofdomestic insurersat least once every5 yearsto ensure solvency and compliance with state regulations. More frequent examinations may occur if issues arise, but 5 years is the minimum requirement.
* Option A: Incorrect. 2 years is too frequent for the minimum requirement.
* Option B: Incorrect. 4 years is not the specified interval.
* Option C: Correct. Examinations are required at least every 5 years.
* Option D: Incorrect. 6 years exceeds the required frequency.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: State- Specific Knowledge - Oklahoma Insurance Statutes).
Oklahoma Insurance Department, Title 36 O.S. § 309.2 (examination of insurers).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 115
An accelerated death benefit provision allows a portion of the death benefits to be paid to the insured prior to death if the insured
- A. has reached retirement age.
- B. becomes disabled.
- C. has a dependent with a serious illness.
- D. has a terminal illness.
Answer: D
Explanation:
Anaccelerated death benefit (ADB)provision, regulated in Oklahoma (Title 36 O.S. § 4051), allows an insured with aterminal illness(typically with a life expectancy of 12-24 months) to receive a portion of the life insurance death benefit before death. This provides funds for medical or personal expenses during the insured's lifetime.
* Option A: Incorrect. Disability may trigger other riders (e.g., waiver of premium), not ADB.
* Option B: Correct. A terminal illness qualifies for accelerated death benefits.
* Option C: Incorrect. Reaching retirement age does not trigger ADB.
* Option D: Incorrect. A dependent's illness is not a qualifying condition for ADB.
This question falls under the Prometric content outline section on "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers accelerated death benefits.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance Provisions).
Oklahoma Insurance Department, Title 36 O.S. § 4051 (accelerated benefits).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 116
......
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