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OKLAHOMA LIFE AND HEALTH INSURANCE EXAM 2024/2025
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OKLAHOMA LIFE AND HEALTH INSURANCE EXAM 2024/2025
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OKLAHOMA LIFE AND HEALTHINSURANCE EXAM 2024/2025
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 - Precise Answer ✔✔changes made by the producer
Health insurance involves two perils, accident and ____. - Precise Answer ✔✔sickness
All of the following riders can increase the death benefit amount EXCEPT
Cost of Living
Waiver of Premium
Accidental Death Rider
Guaranteed Insurability - Precise Answer ✔✔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 - Precise Answer ✔✔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 - Precise Answer ✔✔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 - Precise Answer ✔✔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 - Precise Answer ✔✔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 - Precise Answer ✔✔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 - Precise Answer ✔✔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 - Precise Answer ✔✔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 - Precise Answer ✔✔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 - Precise Answer ✔✔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 - Precise Answer ✔✔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
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