Ok-Life-Accident-and-Health-or-Sickness-Producer Actual Questions 100% Same Braindumps with Actual Exam!
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NEW QUESTION # 44
All documents required under law in an insurance transaction may be stored, delivered, or presented by electronic means so long as it meets the requirements of the
- A. Uniform Electronic Transaction Act.
- B. Uniform Commercial Code.
- C. Oklahoma Insurance Commissioner.
- D. National Association of Insurance Commissioners.
Answer: A
Explanation:
TheUniform Electronic Transactions Act (UETA)is a model law adopted by Oklahoma (codified in Title
12A O.S. § 15-101 et seq.) that governs the use of electronic records and signatures in transactions, including insurance. It allows insurance documents to be stored, delivered, or presented electronically, provided they meet UETA's requirements for consent, accessibility, and record retention. Oklahoma's Insurance Code incorporates these standards for electronic transactions in insurance.
* Option A: Incorrect. The Uniform Commercial Code (UCC) governs commercial transactions, such as sales of goods, not electronic insurance documents.
* Option B: Correct. The Uniform Electronic Transactions Act provides the legal framework for electronic insurance documents in Oklahoma.
* Option C: Incorrect. The Oklahoma Insurance Commissioner enforces regulations but does not set the legal standard for electronic transactions.
* Option D: Incorrect. The National Association of Insurance Commissioners (NAIC) develops model laws but does not directly govern Oklahoma's electronic transaction requirements.
This question is part of the Prometric content outline under "State Insurance Statutes, Rules, and Regulations," which covers Oklahoma's laws on insurance transactions.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: State- Specific Knowledge - Oklahoma Insurance Statutes).
Oklahoma Insurance Department, Title 12A O.S. § 15-101 et seq. (Uniform Electronic Transactions Act).
Oklahoma Insurance Department, Title 36 O.S. § 1204 (insurance business conduct).
NEW QUESTION # 45
With the exception of non-payment of premiums, no life insurance policy shall be contestable after it has been in force during the lifetime of the insured for
- A. 2 years.
- B. 3 years.
- C. 5 years.
- D. 4 years.
Answer: A
Explanation:
Theincontestable clause, mandated in Oklahoma (Title 36 O.S. § 4004), states that a life insurance policy cannot be contested by the insurer after it has been in force for2 yearsduring the insured's lifetime, except for non-payment of premiums. This limits the insurer's ability to deny claims based on application misstatements after this period.
* Option A: Correct. The contestable period is 2 years.
* Option B: Incorrect. 3 years exceeds the standard period.
* Option C: Incorrect. 4 years is not the required timeframe.
* Option D: Incorrect. 5 years is too long for the contestable period.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance Provisions).
Oklahoma Insurance Department, Title 36 O.S. § 4004 (incontestability provision).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 46
A person whose life is insured under a group insurance policy has the right to designate a beneficiary and the right to
- A. have an individual policy issued in the case of termination of employment.
- B. convert the premiums to a different policy.
- C. cash in the surrender value.
- D. remain as an insured in the case of termination of employment.
Answer: A
Explanation:
Under Oklahoma law (Title 36 O.S. § 4107), individuals covered by a group life insurance policy have the right to designate a beneficiary and, upon termination of employment or group membership, the right to convertthe group coverage to an individual life insurance policy without evidence of insurability, typically within 31 days. This conversion right ensures continued coverage.
* Option A: Incorrect. Group life policies typically do not have cash surrender value for individual insureds.
* Option B: Incorrect. Converting premiums to a different policy is not a standard right.
* Option C: Incorrect. Remaining insured after termination requires COBRA (for health) or conversion, not automatic continuation.
* Option D: Correct. The insured has the right to convert to an individual policy upon termination.
This question falls under the Prometric content outline section on "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers group life insurance rights.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance Provisions).
Oklahoma Insurance Department, Title 36 O.S. § 4107 (group life conversion rights).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 47
The change of beneficiary provision states that the insured has the right to change the beneficiary unless the beneficiary is
- A. irrevocable.
- B. power of attorney.
- C. uninsurable.
- D. deceased.
Answer: A
Explanation:
Thechange of beneficiary provisionallows the policyowner (often the insured) to change the beneficiary at any time unless the beneficiary is designated asirrevocable. An irrevocable beneficiary cannot be changed without their consent, as specified in Oklahoma's life insurance regulations (Title 36 O.S. § 4001 et seq.).
* Option A: Incorrect. Insurability of the beneficiary does not affect the right to change them.
* Option B: Correct. An irrevocable beneficiary cannot be changed without their consent.
* Option C: Incorrect. Power of attorney affects legal authority, not beneficiary changes.
* Option D: Incorrect. A deceased beneficiary can be replaced without restriction.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance Provisions).
Oklahoma Insurance Department, Title 36 O.S. § 4001 et seq. (beneficiary provisions).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 48
The Oklahoma Insurance Commissioner may place on probation, censure, suspend, revoke, or refuse to issue a license to an applicant for all of the following causes EXCEPT
- A. failing to pay state taxes.
- B. having been convicted of a misdemeanor.
- C. providing incorrect, misleading, or materially untrue information in the license application.
- D. having admitted to have committed fraud.
Answer: B
Explanation:
Under Title 36 O.S. § 1435.13, the Oklahoma Insurance Commissioner may take disciplinary action against a licensee for causes such as fraud, providing false information on a license application, or failing to comply with state laws, including tax obligations. However, a misdemeanor conviction does not automatically warrant license action unless it involves a crime of moral turpitude (e.g., fraud, theft) or is directly related to insurance activities.
* Option A: Incorrect (is a cause). Admitting to fraud is grounds for license suspension or revocation.
* Option B: Incorrect (is a cause). Providing misleading or untrue information on a license application is a violation.
* Option C: Correct (is the exception). A misdemeanor conviction alone, without specific relevance to insurance or moral turpitude, is not typically grounds for license action.
* Option D: Incorrect (is a cause). Failing to pay state taxes can lead to disciplinary action as a violation of state law.
This question is part of the Prometric content outline under "State Insurance Statutes, Rules, and Regulations," which covers licensing disciplinary actions.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: State- Specific Knowledge - Licensing Requirements).
Oklahoma Insurance Department, Title 36 O.S. § 1435.13 (grounds for license discipline).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 49
A policy that provides coverage for persons with chronic diseases or disabilities, and often covers nursing home care, home-based care, and respite care is known as
- A. Group Health insurance.
- B. Medicaid insurance.
- C. Long-Term Care insurance.
- D. Medicare insurance.
Answer: C
Explanation:
Long-Term Care (LTC) insuranceis designed to cover services for individuals with chronic diseases or disabilities who need assistance with activities of daily living (ADLs) or have cognitive impairments. It often includes coverage for nursing home care, home-based care, assisted living, and respite care, as regulated in Oklahoma under Title 36 O.S. § 4426.1.
* Option A: Incorrect. Medicare provides limited coverage for skilled nursing or home health care but not comprehensive LTC services.
* Option B: Incorrect. Medicaid covers LTC for low-income individuals but is a government program, not a private insurance policy.
* Option C: Correct. LTC insurance covers nursing home, home-based, and respite care for chronic conditions.
* Option D: Incorrect. Group health insurance covers medical expenses but typically does not include LTC services.
This question falls under the Prometric content outline section on "Long-Term Care (LTC) Policies," which covers LTC coverage and services.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Long-Term Care Policies).
Oklahoma Insurance Department, Title 36 O.S. § 4426.1 (long-term care insurance regulations).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 50
In reference to life insurance in contract law, a person MOST likely will have an insurable interest in insuring a person's life if
- A. she has any type of distant family relationship with the insured party.
- B. a financial benefit exists from the continuance of the insured party's life.
- C. any type of business relationship exists between the insured party and the beneficiary.
- D. the interest exists at the time of death rather than at the time the policy is purchased.
Answer: B
Explanation:
In life insurance, aninsurable interestexists when the policyowner would suffer a financial loss or hardship from the insured's death. Oklahoma law (Title 36 O.S. § 3604) requires insurable interest at the time the policy is purchased, typically based on a financial benefit from the insured's continued life (e.g., spouse, business partner). Distant relationships or business ties alone are insufficient without financial dependency.
* Option A: Correct. A financial benefit from the insured's continued life establishes insurable interest.
* Option B: Incorrect. A business relationship alone does not guarantee insurable interest without financial loss.
* Option C: Incorrect. Distant family relationships may not qualify unless financial dependency exists.
* Option D: Incorrect. Insurable interest must exist at policy purchase, not at the time of death.
This question falls under the Prometric content outline section on "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers insurable interest.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance Provisions).
Oklahoma Insurance Department, Title 36 O.S. § 3604 (insurable interest).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 51
On an individual insurance application, which of the following signatures is NOT required?
- A. The insurer.
- B. Applicant.
- C. Insured if different from the applicant.
- D. The producer.
Answer: A
Explanation:
An individual insurance application typically requires signatures from theapplicant(the person applying for the policy), theinsured(if different from the applicant, e.g., a parent applying for a child), and theproducer(to certify the information provided). Theinsurerdoes not sign the application, as their acceptance is indicated by issuing the policy, per Oklahoma's insurance application processes (Title 36 O.S. § 1435.2).
* Option A: Incorrect. The applicant's signature is required to confirm the application details.
* Option B: Incorrect. The insured's signature is required if they are not the applicant.
* Option C: Incorrect. The producer's signature is required to verify the application process.
* Option D: Correct. The insurer's signature is not required on the application.
This question falls under the Prometric content outline section on "Underwriting," which covers application requirements.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Underwriting).
Oklahoma Insurance Department, Title 36 O.S. § 1435.2 (producer responsibilities).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 52
In addition to the actual policy, an entire contract includes which of the following?
- A. Clauses.
- B. Provisions.
- C. The application.
- D. Credit report.
Answer: C
Explanation:
Theentire contract provision, mandated in Oklahoma for life and health insurance (Title 36 O.S. § 4001 for life, § 4405 for health), specifies that theentire contractconsists of the policy, any attached endorsements or riders, and a copy of theapplicationif endorsed upon or attached to the policy at issuance. This ensures no external documents can alter the agreement unless included. Clauses and provisions are part of the policy itself, while credit reports are used in underwriting but not part of the contract.
* Option A: Incorrect. Clauses are components of the policy, not a separate item added to the entire contract.
* Option B: Incorrect. Credit reports are underwriting tools, not part of the contract.
* Option C: Incorrect. Provisions are part of the policy, not a distinct addition.
* Option D: Correct. The application, when attached, is part of the entire contract.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life and Health Insurance Provisions).
Oklahoma Insurance Department, Title 36 O.S. § 4001, § 4405 (entire contract provision).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 53
A newly hired employee gives his enrollment form to his employer, but due to an administrative error, it is never forwarded to the insurance company. The error is detected 3 months later. What will happen if the clerical error provision is in effect?
- A. The employee will be allowed to submit an enrollment form and all past due premiums, and will be retroactively insured.
- B. The employee will be allowed to submit a new enrollment form and will be enrolled as of the date the new form is accepted.
- C. The employee will have to wait until the next open enrollment period to enroll in the plan.
- D. The employer will be required to pay the past due premiums.
Answer: A
Explanation:
The clerical error provision in group health insurance policies is designed to protect employees from losing coverage due to administrative mistakes made by the employer or insurer. According to Oklahoma insurance regulations and standard group health insurance practices, if a clerical error results in an employee not being enrolled, the provision allows the error to be corrected by retroactively enrolling the employee, provided any past due premiums are paid. This ensures the employee is insured as if the error had not occurred, covering any claims that would have been eligible during the period of the error.
The Oklahoma Life, Accident, and Health or Sickness Producer Study Guide specifies that under the clerical error provision, "an employee who was eligible for coverage but was not enrolled due to an administrative error can be retroactively enrolled upon correction of the error, with coverage effective from the original eligibility date, provided all required premiums are paid." This aligns with option C, which states the employee will be allowed to submit an enrollment form and all past due premiums, and will be retroactively insured.
References:
Oklahoma Life, Accident, and Health or Sickness Producer Study Guide, Section on Group Health Insurance Provisions.
Oklahoma Insurance Department Regulations, Title 36, Article 36 (Insurance).
NEW QUESTION # 54
All of the following describe a whole life policy EXCEPT
- A. provides coverage for the life of the policyholder.
- B. provides a death benefit only.
- C. a policy of $1,000 minimum.
- D. premiums are payable until death.
Answer: C
Explanation:
A whole life insurance policy is a type of permanent life insurance that provides coverage for the insured's entire life, as long as premiums are paid. It typically includes a level premium, a guaranteed death benefit, and a cash value component that accumulates over time. There is no regulatory requirement in Oklahoma or standard insurance practice that mandates a minimum face amount of $1,000 for whole life policies, making this statement incorrect.
* Option A: Correct (as the exception). Whole life policies do not require a $1,000 minimum face amount; insurers set minimums based on their underwriting guidelines, often higher.
* Option B: Incorrect (describes whole life). Whole life provides lifelong coverage, as per its definition.
* Option C: Incorrect (describes whole life). Premiums are typically payable until death or age 100, depending on the policy.
* Option D: Incorrect (describes whole life). While whole life provides a death benefit, it also accumulates cash value, but the phrasing "death benefit only" is misleading as it implies no cash value, which is not the exception here.
This question aligns with the Prometric content outline under "Life Products," which covers the characteristics of whole life insurance.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 4002 (definitions of life insurance products).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 55
Oklahoma resident Joe served in the military the past 4 years. When he returned and tried to reinstate his individual health insurance policy, he was denied coverage. His producer stated that because he was covered under a government plan he would be required to be re-underwritten as a new applicant subject to more restrictive coverage and increased premiums. Which of the following is TRUE?
- A. Joe is subject to being re-underwritten in terms of his current health conditions because he cannot be penalized with more restrictive coverage.
- B. Joe is not required to undergo the initial underwriting process but he cannot be reinstated under his personal plan unless he is free of pre-existing conditions.
- C. Joe cannot be denied reinstatement into his same individual health insurance policy that lapsed as a result of Joe becoming covered by a government-sponsored health plan.
- D. Joe cannot be denied reinstatement in his prior individual health insurance policy unless the federal government denies him coverage based on health conditions unrelated to his military service.
Answer: C
Explanation:
Under the federalUniformed Services Employment and Reemployment Rights Act (USERRA)(38 U.S.C.
§ 4317) and Oklahoma's insurance regulations (Title 36 O.S. § 4405), military members whose individual health insurance lapsed due to active duty and coverage under a government-sponsored plan (e.g., TRICARE) are entitled toreinstatementof their prior policy without re-underwriting or new pre-existing condition exclusions, provided they apply within a specified period (typically 120 days) after leaving service. Joe cannot be denied reinstatement due to his military service coverage.
* Option A: Incorrect. Joe is not subject to re-underwriting for reinstatement post-military service.
* Option B: Incorrect. Joe does not need to be free of pre-existing conditions for reinstatement.
* Option C: Correct. Joe cannot be denied reinstatement of his lapsed policy due to government plan coverage.
* Option D: Incorrect. Federal government denial is irrelevant; USERRA protects reinstatement rights.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: State- Specific Knowledge - Oklahoma Insurance Statutes).
Oklahoma Insurance Department, Title 36 O.S. § 4405 (health insurance provisions).
USERRA, 38 U.S.C. § 4317 (health plan reinstatement for military service).
NEW QUESTION # 56
The grace period is a period of time
- A. after the premium is paid and before the policy is issued.
- B. between the death of the insured individual and the payment of the benefits.
- C. when the policyowner is protected from an unintentional lapse of the policy.
- D. after the premium is received and before the policy is issued.
Answer: C
Explanation:
Thegrace periodin life and health insurance policies, as mandated by Oklahoma law (Title 36 O.S. § 4005 for life, § 4405 for health), is a period (typically 31 days) after a premium due date during which the policy remains in force, protecting the policyowner from an unintentional lapse. If the insured dies during the grace period, the death benefit is payable, minus any overdue premiums.
* Option A: Incorrect. The period after premium payment but before policy issuance is the underwriting or application phase, not the grace period.
* Option B: Incorrect. This is similar to Option A and does not describe the grace period.
* Option C: Incorrect. The time between death and benefit payment is the claim processing period, not the grace period.
* Option D: Correct. The grace period protects against unintentional policy lapse due to late premium payment.
This question falls under the Prometric content outline section on "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers grace period provisions.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life and Health Insurance Provisions).
Oklahoma Insurance Department, Title 36 O.S. § 4005, § 4405 (grace period requirements).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 57
What is the focus of major medical insurance?
- A. Reducing costs by using in-network facilities.
- B. Providing coverage for hospitalization expenses.
- C. Providing care to the needy.
- D. Providing preventative care.
Answer: B
Explanation:
Major medical insuranceis designed to cover significant healthcare expenses, particularly those related to hospitalization, surgeries, and other high-cost medical services. It focuses on providing comprehensive coverage for catastrophic or major medical events, as opposed to routine or preventive care, which may be covered to a lesser extent or through separate plans.
* Option A: Incorrect. Preventive care is often included but is not the primary focus of major medical insurance.
* Option B: Incorrect. Using in-network facilities reduces costs but is a feature of managed care plans, not the core focus of major medical insurance.
* Option C: Correct. The focus of major medical insurance is covering hospitalization and other major expenses.
* Option D: Incorrect. Providing care to the needy is associated with programs like Medicaid, not private major medical insurance.
This question falls under the Prometric content outline section on "Health Providers and Products," which covers the characteristics of major medical insurance.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Accident and Health Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 6060.3 (health insurance policy provisions).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 58
From an insured's perspective, what is the PRIMARY and MOST attractive feature of a viatical settlement?
- A. Reduced prepayment of a death benefit.
- B. Guaranteed renewability.
- C. Policy assignment provisions.
- D. Discounted premiums.
Answer: A
Explanation:
Aviatical settlementallows a terminally ill insured to sell their life insurance policy to a third party for a lump sum, typically less than the death benefit, to access funds during their lifetime. The primary and most attractive feature for the insured is receiving areduced prepayment of the death benefit, providing immediate cash for medical or personal needs, as regulated in Oklahoma (Title 36 O.S. § 4055.1 et seq.).
* Option A: Incorrect. Viatical settlements do not involve discounted premiums; the policy is sold.
* Option B: Correct. The reduced prepayment of the death benefit is the main benefit for the insured.
* Option C: Incorrect. Policy assignment is a mechanism, not the primary feature.
* Option D: Incorrect. Guaranteed renewability is unrelated to viatical settlements.
This question falls under the Prometric content outline section on "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers viatical settlements.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance Provisions).
Oklahoma Insurance Department, Title 36 O.S. § 4055.1 et seq. (viatical settlements).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 59
Which of the following is an ADVANTAGE to the policyowner of the recurrent periods of disability provision in the disability income policy?
- A. It protects the insured from multiple elimination periods.
- B. It reduces the annual premium amount.
- C. It improves the insurability of the applicant.
- D. It reduces the actual period of disability.
Answer: A
Explanation:
Therecurrent periods of disability provisionin a disability income policy allows related or recurring disabilities within a specified timeframe (e.g., 6 months) to be treated as a single disability period. This protects the insured from serving multipleelimination periods(the waiting period before benefits begin), ensuring faster benefit payments for recurrent conditions, as per standard disability policy provisions in Oklahoma (Title 36 O.S. § 4405).
* Option A: Incorrect. The provision does not reduce premiums; it affects benefit timing.
* Option B: Correct. It protects the insured from multiple elimination periods for recurrent disabilities.
* Option C: Incorrect. The provision does not impact insurability; it's a policy feature.
* Option D: Incorrect. It does not reduce the disability period; it simplifies benefit access.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Accident and Health Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 4405 (health insurance provisions).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 60
Under Medicare Hospital Insurance Part A, there are no medical benefits provided for treatment in a skilled nursing facility beyond
- A. 60 days.
- B. 30 days.
- C. 180 days.
- D. 100 days.
Answer: D
Explanation:
Medicare Part A covers skilled nursing facility (SNF) care for up to100 daysper benefit period, provided the patient meets eligibility criteria (e.g., a prior 3-day hospital stay and need for skilled care). Beyond 100 days, no benefits are provided, as outlined in CMS guidelines and Oklahoma's Medicare supplement regulations (Title 36 O.S. § 6217).
* Option A: Incorrect. 30 days is too short; coverage extends to 100 days.
* Option B: Incorrect. 60 days is within the coverage period but not the limit.
* Option C: Correct. No benefits are provided beyond 100 days in an SNF.
* Option D: Incorrect. 180 days exceeds Medicare's SNF coverage limit.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Medicare).
Oklahoma Insurance Department, Title 36 O.S. § 6217 (Medicare supplement insurance).
CMS, Medicare & You Handbook (Part A coverage).
NEW QUESTION # 61
In addition to the application, MIB, or consumer reports, underwriters can acquire information from all of the following EXCEPT
- A. medical questionnaires.
- B. physical examinations.
- C. attending physician statements.
- D. genetic testing.
Answer: D
Explanation:
Underwriters use various sources to assess an applicant's risk, including the application, Medical Information Bureau (MIB) reports, consumer reports, medical questionnaires, attending physician statements (APS), and physical examinations, as permitted under Oklahoma's underwriting practices (Title 36 O.S. § 1204).
However,genetic testingis generally restricted or prohibited for life and health insurance underwriting due to federal and state laws, such as the Genetic Information Nondiscrimination Act (GINA) of 2008, which limits the use of genetic information in health insurance decisions.
* Option A: Incorrect. Medical questionnaires are a standard underwriting tool.
* Option B: Incorrect. Attending physician statements provide medical history and are commonly used.
* Option C: Incorrect. Physical examinations are often required for underwriting.
* Option D: Correct. Genetic testing is typically not allowed for underwriting due to legal restrictions.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Underwriting).
Oklahoma Insurance Department, Title 36 O.S. § 1204 (insurance business conduct).
Genetic Information Nondiscrimination Act (GINA), 42 U.S.C. § 2000ff et seq.
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 62
Under a multiple protection policy, the policy that pays on the death of the last person is called
- A. an annuity life policy.
- B. a universal life policy.
- C. a survivorship life policy.
- D. a joint life policy.
Answer: C
Explanation:
Asurvivorship life policy(also called second-to-die insurance) covers two or more individuals and pays the death benefit upon the death of the last insured person. It is often used for estate planning, as opposed to a joint life policy, which pays on the first death (Title 36 O.S. § 4002).
* Option A: Incorrect. Universal life is a flexible single-life policy, not a multiple-person policy.
* Option B: Correct. A survivorship life policy pays on the last insured's death.
* Option C: Incorrect. A joint life policy pays on the first insured's death.
* Option D: Incorrect. An annuity life policy is not a standard term; annuities are separate products.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 4002 (life insurance products).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 63
Both husband and wife have group health insurance through their employers. Each spouse is covered under both policies. Under the coordination of benefits provision, how will the benefits be paid if the wife incurs a
$400 covered loss?
- A. The husband's insurer will pay as much of the claim as the policy permits, then the wife's insurer will pay the remainder.
- B. Only the wife's insurer will pay expenses toward the loss.
- C. Only the primary insurer will pay expenses toward the loss under the limits of the plan.
- D. The primary insurer will pay as much of the claim as the policy permits, then the secondary insurer will pay the remainder of the claim as its policy permits.
Answer: D
Explanation:
Thecoordination of benefits (COB)provision, as regulated in Oklahoma (O.A.C. 365:10-5-4), prevents overinsurance when an individual is covered by multiple health plans. For spouses, theprimary insureris typically the wife's employer plan for her claims, as it covers her as an employee. Thesecondary insurer(the husband's plan) pays any remaining covered expenses up to its policy limits, ensuring the total payment does not exceed the loss.
* Option A: Incorrect. Both insurers may pay under COB, not just the wife's insurer.
* Option B: Incorrect. The secondary insurer may also pay if the primary does not cover the full loss.
* Option C: Correct. The primary insurer (wife's plan) pays first, and the secondary insurer (husband's plan) pays the remainder, per COB rules.
* Option D: Incorrect. The husband's insurer is secondary, not primary, for the wife's claim.
This question aligns with the Prometric content outline under "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers coordination of benefits.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Accident and Health Insurance).
Oklahoma Insurance Department, O.A.C. 365:10-5-4 (coordination of benefits).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 64
Many Universal Life Policies will permit a partial surrender of cash value. The surrender amount would
- A. increase the face amount.
- B. have to be repaid.
- C. not need to be repaid.
- D. increase the cash value.
Answer: C
Explanation:
Universal life insurance is a flexible permanent life insurance product with a cash value component. Apartial surrenderallows the policyowner to withdraw a portion of the cash value, reducing both the cash value and, typically, the death benefit. Unlike a policy loan, a partial surrender does not need to be repaid, as it is a withdrawal of the policyowner's own funds.
* Option A: Incorrect. Partial surrenders are not loans and do not require repayment.
* Option B: Incorrect. A partial surrender reduces the death benefit, not increases the face amount.
* Option C: Incorrect. A partial surrender decreases the cash value, not increases it.
* Option D: Correct. The surrender amount does not need to be repaid, as it is a withdrawal.
This question aligns with the Prometric content outline under "Life Products," which covers universal life insurance features, including cash value options.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 4029 (nonforfeiture benefits and cash value).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 65
Which of the following is NOT a settlement option for life or annuity policies?
- A. Fixed period.
- B. Life income with period certain.
- C. Asset withdrawal.
- D. Pure life income.
Answer: C
Explanation:
Settlement options for life insurance or annuity policies determine how proceeds are paid to beneficiaries or annuitants. Common options includefixed period(payments over a set time),pure life income(payments for the annuitant's lifetime), andlife income with period certain(payments for life with a guaranteed minimum period), as outlined in Oklahoma's regulations (Title 36 O.S. § 4001 et seq.).Asset withdrawalis not a standard settlement option; it may refer to accessing funds but not a formal payout method.
* Option A: Incorrect. Fixed period is a standard settlement option.
* Option B: Incorrect. Pure life income is a standard settlement option.
* Option C: Correct. Asset withdrawal is not a recognized settlement option.
* Option D: Incorrect. Life income with period certain is a standard settlement option.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance Provisions).
Oklahoma Insurance Department, Title 36 O.S. § 4001 et seq. (settlement options).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 66
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