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Insurance Licensing Oklahoma Life, Accident, and Health or Sickness Producer - Ok-Life-Accident-and-Health-or-Sickness-Producer Exam Questions

QUESTION NO: 1
Ordinary life insurance should BEST be viewed by the consumer as

A. temporary protection during the policyowner's income-earning years with cash values payable during non-earning periods. B. a type of policy that provides permanent protection and some flexibility for the lowest total premium outlay. C. an endowment type of policy that provides limited payment type of life insurance based on the level of income earned. D. temporary protection for the life expectancy of the policyowner with accumulating cash values throughout the life of the policy.

Correct Answer: B

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QUESTION NO: 2
An insured individual takes out a life insurance policy on himself and commits suicide 13 months later. Since the policy has an expressed provision limiting the liability of the insurer against suicide, the insurer is

A. not liable to make any payouts on the policy. B. obligated to reimburse the amount of the premiums paid for the policy. C. liable to pay the full value of the policy. D. liable for the full value of the policy if the insured individual was proven to be insane at the time of his death.

Correct Answer: A

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QUESTION NO: 3
If Janet purchases a 10-year level term life insurance policy with a face amount of $100,000, which of the following is TRUE?

A. The premium and the face amount will remain constant for the 10-year period. B. The face amount will remain constant as the premium increases over the 10-year period. C. The policy will be converted to a whole life policy at the end of the 10-year period. D. The face amount will increase as dividends on the policy accumulate over the 10-year period.

Correct Answer: A

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QUESTION NO: 4
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?

A. $3,000 B. $1,000 C. $1,800 D. $5,000

Correct Answer: A

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QUESTION NO: 5
Modified whole life policies are distinguished by premiums that are

A. higher than typical whole life premiums during the initial years and then lower thereafter. B. lower than typical whole life premiums during the initial years and then higher thereafter. C. higher than typical whole life premiums during the last few years. D. lower than typical whole life premiums during the last few years.

Correct Answer: B

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QUESTION NO: 6
Which of the following provisions allows a person to temporarily give up a portion of their ownership rights to secure a loan?

A. Entire contract. B. Reinstatement. C. Collateral assignment. D. Automatic premium loan.

Correct Answer: C

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QUESTION NO: 7
Which rider includes coverage for the insured's spouse and children?

A. Payor benefit B. Family C. Guaranteed insurability D. Jumping juvenile

Correct Answer: B

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QUESTION NO: 8
The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to as

A. churning. B. rebating. C. subrogation. D. twisting.

Correct Answer: D

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QUESTION NO: 9
Accidental death covers death from

A. terminal illness. B. drowning. C. infections. D. self-inflicted wounds.

Correct Answer: B

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QUESTION NO: 10
Benefits required under the child immunization coverage shall NOT be subject to

A. a deductible. B. a prior authorization. C. an annual maximum number of immunizations. D. a set immunization schedule.

Correct Answer: B

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QUESTION NO: 11
A type of life insurance policy which provides for the payment of the face amount at the end of the specified period if the insured is still alive, is

A. a universal life insurance policy. B. an endowment policy. C. a juvenile trust. D. a modified life insurance policy.

Correct Answer: B

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QUESTION NO: 12
The provision that the policy and a copy of an application is endorsed upon or attached to the policy when issued is the

A. certificate. B. application. C. policy summary. D. entire contract.

Correct Answer: D

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QUESTION NO: 13
Which of the following BEST describes a waiver of premium clause in a typical disability policy?

A. The monthly benefit under the policy is reduced to offset the premium that is no longer being paid. B. This clause generally begins immediately with the doctor stating that the insured person is completely disabled. C. The waiver of premium benefit pays the policy premium during a disability claim. D. This clause eliminates any premium being paid for the lifetime of the insured individual.

Correct Answer: C

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QUESTION NO: 14
A condition for which medical advice, diagnosis, care, or treatment was recommended or received during the
6 months immediately preceding the effective date of group health coverage is

A. diagnosed condition. B. preexisting condition. C. affiliation period. D. elimination period.

Correct Answer: B

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QUESTION NO: 15
Which of the following is a potential DISADVANTAGE of a fixed annuity?

A. The insured invests payments in variable securities, and the return fluctuates with an uncertain economic market. B. Annuitants could experience a decrease in the purchasing power of their payments over a period of years due to inflation. C. Payments continue only for a maximum of 2 years after the annuitant's death. D. There is no guaranteed specific benefit amount to the annuitant.

Correct Answer: B

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