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Oklahoma Life & Health Insurance Exam Questions and Answers 100% Solved $11.99
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Oklahoma Life & Health Insurance Exam Questions and Answers 100% Solved
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Oklahoma Life & Health Insurance Exam Questions and Answers 100% Solved In Oklahoma, a life insurance policy loan may NOT exceed an interest rate of - 8% Under HIPAA requirements, eligibility for the pre-existing conditions exclusion waiver under new coverage is lost if - there is a break in ...

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  • December 24, 2024
  • 34
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Health Insurance
  • Health Insurance

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JOSHCLAY

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Oklahoma Life & Health Insurance Exam

Questions and Answers 100% Solved


In Oklahoma, a life insurance policy loan may NOT exceed an interest rate

of - ✔✔8%

Under HIPAA requirements, eligibility for the pre-existing conditions

exclusion waiver under new coverage is lost if - ✔✔there is a break in

coverage of more than 63 days

Which of the following health insurance provisions requires that the

application becomes part of the policy? - ✔✔Entire Contract clause

impatient psychiatric care is covered under Part A Medicare for 190 days

per - ✔✔lifetime

What happens when a policyowner borrows against the cash value of his

life insurance policy? - ✔✔The policy proceeds would be reduced by the

outstanding loan balance

ABC Corporation purchases and is beneficiary of an individual disability

income insurance policy on a key employee. Which of the following

statements is true? - ✔✔Benefits are received tax-free by the company

1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

,All parts of the Medicare program (except for public information and

enrollment) are administered by which federal agency? - ✔✔The Centers of

Medicare and Medicaid Services

Which of the following is NOT an intended use of an annuity? - ✔✔Create

new funds upon the death of wage-earner

Part A Medicare includes coverage for all of the following services EXCEPT

- ✔✔120 days of Skilled Nursing Facility care

Which of these factors does NOT affect the life insurance premium rates? -

✔✔Producer Certification

A license is NOT required when you are - ✔✔providing referrals

Producers must complete a total of ___ Continuing Education credits for

each two-year licensing period. - ✔✔24

Which life insurance policy would be eligible to include an automatic

premium loan provision? - ✔✔Whole life

A Guaranteed Renewable provision allows - ✔✔premiums which can only

be increased per rate class

An insurance producer is BEST defined as - ✔✔a person who has a

contract with an insurance company to represent it



2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

,If a new policy is replacing an existing one, the insured is given the right to

return for a full refund of at least how many days after policy delivery. -

✔✔20

All of these are used to prevent adverse selection in a group dental plan

EXCEPT - ✔✔decreased employee participation

How long can an insurer legally defer paying the cash value of a

surrendered life insurance policy? - ✔✔6 months

The insurance information and Privacy Protection Act is designed to limit or

direct the information collection activities of all of the following, EXCEPT: -

✔✔COBRA representatives

Field underwriting by a producer - ✔✔may result in the disclosure of

hazardous activities of the applicant

Joe is a military retiree after having served 20 years of active duty. Upon

retiring, he requests reinstatement of his lapsed individual health policy and

is denied. Which of the following is correct? - ✔✔Joe cannot be denied

reinstatement to his original individual health plan

At what point are death proceeds paid in a joint life insurance policy? -

✔✔When the first insured dies




3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

, Emergency health care coverage for Medicare enrollees traveling abroad is

- ✔✔a Medicare Supplement additional benefit

Tim is covered by an accident and health insurance policy that may not be

changed in any way by the insurer up to a stated age, as long as the

premiums are paid. What type of policy is this? - ✔✔Noncancelable

How long does one premium payment cover in a single premium whole life

policy? - ✔✔full life of the policy

The interest credited to the cash values of personally-owned non-qualified

annuities is considered - ✔✔tax-deferred

Which of the following statements accurately describes the "time limit on

certain defenses"? - ✔✔After a stated period of time, claims cannot be

denied due to material misrepresentation on the application

Producers must complete how many hours of continuing education

biannually. - ✔✔24

Who may terminate coverage under a cancelable health insurance policy? -

✔✔the insurer or the insured

The amount of a covered loss to be paid by the insured before a major

medical expense policy begins to pay is called the - ✔✔deductible amount



4
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

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