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Oklahoma Life and Health Insurance Exam/150 Answered Questions A+ Rated
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Oklahoma Life and Health InsuranceExam/150 Answered Questions A+ Rated
All of the following are included as part of a contract in the entire contract
provision EXCEPT the
riders
application
changes made by the producer
policy - -changes made by the producer
-Health insurance involves two perils, accident and ____. - -sickness
-All of the following riders can increase the death benefit amount EXCEPT
Cost of Living
Waiver of Premium
Accidental Death Rider
Guaranteed Insurability - -Waiver of Premium
-Of the following dividend options, which of these is taxable?
Reduction of premium
One year term
Paid-up additions
Accumulation at interest - -Accumulation at interest
-Insurance that is designed to pay the balance of a loan if the insured dies
before the loan has been repaid in full is
life settlement
whole life
universal life
credit life - -credit life
-A temporary producer's license issued by the Insurance Commissioner
without examination is valid for a period of no longer than
90 days
120 days
180 days
270 days - -180 days
-How do interest earnings accumulate in a deferred annuity?
,On a tax credit basis
On a tax-deferred basis
On a tax-free basis
On a taxable basis - -On a tax-deferred basis
-Tom has a home health care benefit and is confined to his home. Which of
these benefits is NOT typically covered?
Part-time nursing care
Full-time nursing care
Physical therapy
Home health aides - -Full-time nursing care
-A beneficiary has just received a claim payment for a life insurance policy.
Which of the following is TRUE regarding the federal income tax liability
owed?
A flat tax of 10% is owed on all proceeds
Federal income tax is owed if proceeds exceed $250,000
No federal income tax is owed on life insurance proceeds
Tax liability owed depends on the type of life insurance policy - -No federal
income tax is owed on life insurance proceeds
-Medicare Supplement coverage permits an open enrollment period on a
guaranteed issue basis upon reaching
age 60
age 62
age 65
age 70 - -age 65
-Group and individual health insurance policies that provide coverage to
women must cover annual mammography screenings for women aged:
30 and older
35 and older
40 and older
,50 and older - -40 and older
-Jennifer is required to pay a specific sum out of pocket before any benefits
are paid in a year. Her health policy most likely contains a(n)
stop-loss provision
deductible
copayment
out of pocket provision - -deductible
-In Oklahoma, all of these are considered forms of inducement EXCEPT
Gift whose value is under $100
Contract promising special profits or favor
$250 gift
Promised employment - -Gift whose value is under $100
-When can a group health policy renewal be denied according to the Health
Insurance Portability and Accountability Act (HIPAA)?
When a change of management has occurred within the group
When the annual number of claims has increased by 25%
When contribution or participation rules have been violated
When group participation has increased by 25% - -When contribution or
participation rules have been violated
-A Renewable Term Life insurance policy can be renewed...?
at a predetermined date or age, regardless of the insured's health
only if the insured provides evidence of insurability
anytime at the policyowner's request
typically with no change in premium - -at a predetermined date or age,
regardless of the insured's health
, -A health benefit plan that provides maternity benefits must provide at least
how many hours of inpatient care for the mother and newborn infant
following delivery?
24 hours for vaginal birth or 96 hours for caesarean section
36 hours for vaginal birth or 48 hours for caesarean section
48 hours for vaginal birth or 96 hours for caesarean section
72 hours for vaginal birth or 96 hours for caesarean section - -48 hours for
vaginal birth or 96 hours for caesarean section
-Which type of coverage pays an amount per day for hospitalization directly
to the insured regardless of the insured's other health insurance?
MEWA
Mutual
Group
Hospital indemnity - -Hospital indemnity
-A Medicare Supplement policy may be cancelled for which of the following
reasons?
Claims exceed specified loss-ratio percentage
Non-payment of premium
End stage renal disease diagnosis
Prescription drug cost exceeds the "donut hole threshold" - -Non-payment
of premium
-A producer may be disciplined by the Commissioner for which of the
following actions?
Being accused of a felony
Misappropriation of premium funds
Sharing commissions with other licensed producers
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