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Free Oklahoma Life, Accident, and Health or Sickness Producer Exam Practice Questions

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Exam style questions across every Ok-Life-Accident-and-Health-or-Sickness-Producer domain

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Total Questions : 155

Start with our free Ok-Life-Accident-and-Health-or-Sickness-Producer practice questions, carefully crafted to mirror the domains, phrasing, and difficulty of the real Life, Accident, and Health exam. Each Ok-Life-Accident-and-Health-or-Sickness-Producer exam question comes with a detailed rationale that explains not just which answer is correct but why the others fall short. That's how concepts stick. Use the free set to benchmark yourself: identify your Insurance Licensing weak domains, see where you're losing marks, and build a focused study plan in minutes.

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Question # 21

Loans may generally be obtained against the proceeds of a personal life insurance policy, and policy loan proceeds

Options:

A.  

accelerate the benefits under the policy.

B.  

are not treated as taxable income.

C.  

are subject to Federal estate tax.

D.  

generate nontaxable interest income.

Discussion 0
Question # 22

Determining the appropriate coverage for an individual seeking long-term care insurance is

Options:

A.  

coinsurance.

B.  

suitability.

C.  

contestability.

D.  

accountability.

Discussion 0
Question # 23

To apply for a life or health insurance policy,

Options:

A.  

the insured must report all information about family illnesses.

B.  

a physical examination must be performed by a licensed physician.

C.  

all possible serious medical conditions must be diagnosed and recorded.

D.  

the insured individual’s medical history may be reviewed and reported.

Discussion 0
Question # 24

Term life insurance is more appropriate than whole life insurance when the

Options:

A.  

policyowner wants to borrow against the life insurance policy values.

B.  

policyowner desires an accumulation of cash values.

C.  

maximum protection is needed, but the insured cannot afford premium payments for permanent insurance.

D.  

insured needs low cost permanent life insurance protection.

Discussion 0
Question # 25

Which of the following is NOT a settlement option for life or annuity policies?

Options:

A.  

Fixed period.

B.  

Pure life income.

C.  

Asset withdrawal.

D.  

Life income with period certain.

Discussion 0
Question # 26

Insurers do business in Oklahoma only after a thorough financial review. Insurance policies written in Oklahoma, that are protected by the Guaranty Association, protect policyowners in the event an admitted company

Options:

A.  

merges with a foreign insurer.

B.  

becomes financially insolvent.

C.  

cannot meet its capital surplus requirements.

D.  

depletes its loss reserves.

Discussion 0
Question # 27

Which of the following is a common exclusion from coverage under a medical expense plan?

Options:

A.  

Air travel in a private plane.

B.  

Injury due to auto accidents.

C.  

Injury due to recreational sports.

D.  

Injury caused by repairs or renovations to one’s own home.

Discussion 0
Question # 28

Which type of life insurance policy is written under a single contract for both spouses in which it is payable upon the first death?

Options:

A.  

dual capacity

B.  

family term

C.  

whole

D.  

joint

Discussion 0
Question # 29

Under the Fair Credit Reporting Act, a consumer report includes

Options:

A.  

communication of information among persons related by common ownership.

B.  

any report containing information solely as to transactions between the consumer and the person making the report.

C.  

communication of information by a consumer reporting agency bearing on a consumer’s credit standing, worthiness, or personal characteristics.

D.  

any authorizations or approval of a specific extension of credit, directly or indirectly, by the issuer of a credit card.

Discussion 0
Question # 30

A group major medical policy is written with a $1,000 deductible, 80/20 coinsurance, and an out-of-pocket maximum of $3,000. The insured goes into the hospital for a covered procedure. The total cost of the procedure is $5,000. How much does the insured have to pay towards the $5,000 total?

Options:

A.  

$5,000

B.  

$3,000

C.  

$1,800

D.  

$1,000

Discussion 0

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