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Oklahoma Life and Health State Exam Simulator2
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Oklahoma Life and Health State Exam Simulator2
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Oklahoma Life and Health State Exam Simulator2Which health policy clause specifies the amount of benefits to be paid? Answer- Insuring
The dental specialty which deals with the replacement of missing teeth is called Answer- Prosthodontics
In what situation could an insurance policy's coverage be modified? Answer- Applicant is a substandard risk
Which of the following statements BEST describes a double indemnity provision in travel accident insurance? Answer- Benefits are doubled under certain circumstances stated in the policy
Medicaid will pay for nursing home expenses under what condition? Answer- Must have
financial need
Which would be described as a beneficiary designation by class? Answer- Children of the insured
After an applicant reads and signs an insurance application, he/she should be conscious of the fact that Answer- a false statement could lead to loss of coverage
Which benefit is normally payable to a life insurance policyowner when the insured's life expectancy has been severely limited? Answer- Accelerated (living) benefit
Al surrenders his life insurance policy for its cash value. The total of premiums paid into the policy minus total dividends received in cash or used to offset premiums is referred to as the Answer- cost basis
What happens when a policyowner borrows against the cash value of his life insurance policy? Answer- The policy proceeds would be reduced by the outstanding loan balance
How do benefit payments fluctuate over time in a variable life annuity? Answer- Reflects
changes in the market value of assets in a separate account Taking a sum of money and decreasing it in size is called Answer- capital liquidation
Pat is covered by a disability income insurance policy that covers disabilities arising from a work-related illness or injury. The amount of his disability income payments for an on-the-job injury may be reduced by Answer- benefits paid under workers compensation
Andy is in need of health care performed by skilled medical practitioners, but only on an intermittent basis. What level of care will his doctor likely prescribe? Answer- Intermediate care
What is another term used for a "pure" life annuity? Answer- Life income
During the early years of a whole life insurance policy, the cash value will normally be Answer- Less than the total premiums paid
Insurable interest in one's own life is legally considered as Answer- generally unlimited
A business may purchase an annuity for all of the following reasons EXCEPT Answer- Funding a non-qualified deferred compensation plan
The conversion option for group term insurance may be exercised by an employee Answer- within 31 days of terminated employment
An individual who purchases a modified life insurance policy expects Answer- an improvement in future income
What must be given to a life insurance applicant when the agent receives an application
and the initial premium? Answer- Conditional receipt
Any employee insured under a group life insurance plan is normally Answer- protected by term life insurance
When does the owner's contractual rights begin under an individual annuity contract? Answer- time of purchase
If group Health benefit levels are too high, what could be the end result? Answer- If group Health benefit levels are too high, what could be the end result?
The agreement in which hospitals and physician groups in a specific area contract with an insurance company to provide medical care at predetermined costs is Answer- Preferred Provider Organization (PPO)
Which group is the Do Not Call Registry designed to protect against? Answer- telemarketers
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