Oklahoma life and health practice exam

1. How is the Oklahoma Insurance Commissioner, who heads the Oklahoma Insurance Department, selected?

1. Appointed by the Governor with Senate confirmation
2. Elected, serving the same term as the Governor
3. Appointed by the Legislature for a six-year term
4. Chosen by the NAIC from licensed producers

2. Under 36 O.S. 1435.15, an insurer must file a producer's appointment within how many days from the date the agent contract is executed?

1. 15 days
2. 30 days
3. 10 days
4. 45 days

3. Under 36 O.S. 1435.18, a producer must report an administrative action taken against him or her in Oklahoma or any other state within how many days of final disposition?

1. 10 days
2. 15 days
3. 20 days
4. 30 days

4. Under 36 O.S. 1250.4(B), a licensee must respond to an inquiry from the Insurance Commissioner within how many calendar days?

1. 10 days
2. 20 days
3. 30 days
4. 45 days

5. Under Oklahoma rules, a person who solicits and procures an application for insurance is regarded as the agent of:

1. The applicant
2. The insurer issuing the policy
3. The Insurance Department
4. The producer's agency only

1. What is the minimum age to take an Oklahoma insurance licensing examination?

1. 16
2. 17
3. 18
4. 21

2. How much continuing education must an Oklahoma resident life and health producer complete?

1. 12 hours every year
2. 20 hours every two years
3. 24 hours every year
4. 24 hours every two years

3. Of a resident producer's required 24 hours of continuing education, how many hours must be in ethics?

1. 1 hour
2. 3 hours
3. 4 hours
4. 6 hours

4. A producer completes more continuing education hours than required in a 24-month period. How many excess hours may carry forward to the next period?

1. None
2. 3 hours
3. 6 hours
4. 12 hours

1. Under Oklahoma's annuity rule effective September 1, 2023, what standard must a producer meet when recommending an annuity?

1. Act in the best interest of the consumer under the circumstances known at the time of the recommendation
2. Disclose only the surrender charge schedule
3. Recommend only fixed annuities to consumers over age 65
4. Obtain written approval from the Insurance Commissioner before the sale

1. Persuading a policyholder to drop an existing permanent policy in one company and replace it with a policy in another company, to the detriment of the policyholder, is called:

1. Rebating
2. Coercion
3. Twisting
4. Defamation

2. A producer offers to give a prospect part of his commission if the prospect buys a life policy. Under 36 O.S. 1204(8)(a), this is:

1. Rebating
2. Twisting
3. Misrepresentation
4. Unfair discrimination

3. Oklahoma requires a warning on insurance policies and claim forms. Knowingly presenting a claim with false, incomplete or misleading information with intent to defraud is described in that warning as:

1. A misdemeanor
2. A civil infraction only
3. A felony
4. An administrative violation only

1. An Oklahoma rule prohibits a producer from indiscriminately advocating or recommending that a prospect do which of the following?

1. Buy a policy with a higher face amount
2. Name a trust as beneficiary
3. Purchase term insurance instead of an annuity
4. Surrender or permit to lapse existing permanent life insurance policies

1. The required Oklahoma Life and Health Insurance Guaranty Association notice must warn that coverage, if available, is subject to substantial limitations and exclusions and is conditioned on:

1. Continued residence in the state
2. Payment of an additional premium
3. The producer remaining appointed
4. The policy being in force for at least two years

1. Under 36 O.S. 4030.1, a life insurer must pay a death claim within how many days after receiving proof of death?

1. 10 days
2. 15 days
3. 60 days
4. 30 days

1. How long does an Oklahoma Medicare supplement policyholder have to return the policy for a refund of all payments?

1. 10 days after receipt
2. 30 days after receipt
3. 20 days after receipt
4. 60 days after receipt

2. A Medicare supplement policy may not exclude or limit benefits for a preexisting condition for losses incurred more than how long after the effective date of coverage?

1. 3 months
2. 12 months
3. 6 months
4. 24 months