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Oklahoma Life and Health Insurance Actual Exam Questions and answers NEWEST | 2024/25
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Oklahoma Life and Health Insurance Actual Exam Questions and answers NEWEST | 2024/25
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Oklahoma Life and Health InsuranceActual Exam Questions and answers
NEWEST | 2024/25
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 ii
ii deductible
ii copayment
ii out of pocket provision - deductible
ii ii ii ii ii ii ii
ii
ii
In Oklahoma, all of these are considered forms of inducement EXCEPT
ii ii ii ii ii ii ii ii ii ii
ii Gift whose value is under $100
ii ii ii ii ii
ii Contract promising special profits or favor ii ii ii ii ii
ii $250 gift ii
ii Promised employment - Gift whose value is under $100 ii ii ii ii ii ii ii ii ii ii
When can a group health policy renewal be denied according to the Health Insurance
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
Portability and Accountability Act (HIPAA)?
ii
ii
ii ii ii ii
When a change of management has occurred within the group
ii ii ii ii ii ii ii ii ii
ii When the annual number of claims has increased by 25%
ii ii ii ii ii ii ii ii ii
ii When contribution or participation rules have been violated
ii ii ii ii ii ii ii
When group participation has increased by 25% - When contribution or participation rules
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
have been violated
ii ii ii
A Renewable Term Life insurance policy can be renewed...?
ii
ii
ii ii ii ii ii ii ii ii
at a predetermined date or age, regardless of the insured's health
ii ii ii ii ii ii ii ii ii ii
ii only if the insured provides evidence of insurability
ii ii ii ii ii ii ii
ii anytime at the policyowner's request ii ii ii ii
typically with no change in premium - at a predetermined date or age, regardless of the
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
insured's health
ii ii
, A health benefit plan that provides maternity benefits must provide at least how many
ii ii ii ii ii ii ii ii ii ii ii ii ii ii
hours of inpatient care for the mother and newborn infant following delivery?
ii
ii
ii ii ii ii ii ii ii ii ii ii ii
24 hours for vaginal birth or 96 hours for caesarean section
ii ii ii ii ii ii ii ii ii ii
ii 36 hours for vaginal birth or 48 hours for caesarean section
ii ii ii ii ii ii ii ii ii ii
ii 48 hours for vaginal birth or 96 hours for caesarean section
ii ii ii ii ii ii ii ii ii ii
72 hours for vaginal birth or 96 hours for caesarean section - 48 hours for vaginal birth or
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
96 hours for caesarean section
ii ii ii ii ii
Which type of coverage pays an amount per day for hospitalization directly to the insured
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
regardless of the insured's other health insurance?
ii
ii
ii ii ii ii ii ii
MEWA
ii Mutual
ii Group
ii Hospital indemnity - Hospital indemnity ii ii ii ii ii ii
ii A Medicare Supplement policy may be cancelled for which of the following reasons?
ii ii ii ii ii ii ii ii ii ii ii ii
ii Claims exceed specified loss-ratio percentage
ii ii ii ii
ii Non-payment of premium ii ii
ii End stage renal disease diagnosis
ii ii ii ii
ii Prescription drug cost exceeds the "donut hole threshold" - Non-payment of premium ii ii ii ii ii ii ii ii ii ii ii ii ii
ii A producer may be disciplined by the Commissioner for which of the following actions?
ii ii ii ii ii ii ii ii ii ii ii ii ii
ii Being accused of a felony ii ii ii ii
ii Misappropriation of premium funds ii ii ii
ii Sharing commissions with other licensed producers
ii ii ii ii ii
ii Failing to meet insurer production requirements - Misappropriation of premium funds
ii ii ii ii ii ii ii ii ii ii ii ii
Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an
ii ii ii ii ii ii ii ii ii ii ii ii ii ii ii
extended term insurance option. When the term insurance expires,
ii
ii
ii ii ii ii ii ii ii ii
he has the option of resuming the original policy and paying the same premium
ii ii ii ii ii ii ii ii ii ii ii ii ii
ii the coverage can be extended with a lump sum payment
ii ii ii ii ii ii ii ii ii
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