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Insurance Licensing Oklahoma Life, Accident, and Health or Sickness Producer Exam Sample Questions (Q76-Q81):
NEW QUESTION # 76
A common disaster provision states that if the beneficiary dies from the same accident as the insured individual, the insurer will proceed as if the
Answer: C
Explanation:
Thecommon disaster provisionin a life insurance policy addresses situations where the insured and primary beneficiary die in the same accident. It typically includes a survivorship clause, presuming thebeneficiary outlived the insuredfor a specified period (e.g., 14-30 days) unless proven otherwise. This ensures the death benefit passes to the beneficiary's estate or contingent beneficiaries, as outlined in Oklahoma's life insurance provisions (Title 36 O.S. § 4001 et seq.).
* Option A: Incorrect. The provision does not assume the insured outlived the beneficiary.
* Option B: Correct. The insurer proceeds as if the beneficiary outlived the insured.
* Option C: Incorrect. Simultaneous death is addressed differently under the Uniform Simultaneous Death Act, not the common disaster provision.
* Option D: Incorrect. The provision does not treat the beneficiary as unnamed.
:
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 # 77
Determining the appropriate coverage for an individual seeking long-term care insurance is
Answer: D
Explanation:
Suitabilityin long-term care (LTC) insurance involves assessing an individual's financial situation, health needs, and goals to determine the appropriate coverage, ensuring the policy meets their needs without being unaffordable or excessive. Oklahoma regulations (O.A.C. 365:10-5-40) emphasize suitability to protect consumers from inappropriate LTC products.
* Option A: Incorrect. Coinsurance is a cost-sharing mechanism, not about determining coverage.
* Option B: Correct. Suitability ensures the LTC policy is appropriate for the individual's needs.
* Option C: Incorrect. Contestability relates to the insurer's ability to contest claims, not coverage selection.
* Option D: Incorrect. Accountability is not a term for determining coverage appropriateness.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Long-Term Care Policies).
Oklahoma Insurance Department, O.A.C. 365:10-5-40 (LTC suitability standards).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 78
How long is the contestable period for a life insurance policy?
Answer: A
Explanation:
Thecontestable periodfor a life insurance policy in Oklahoma, as mandated by Title 36 O.S. § 4004, is24 months(2 years) from the policy's issuance. During this period, the insurer can contest the policy's validity based on material misrepresentations in the application (e.g., health or lifestyle). After 2 years, the policy becomes incontestable except for non-payment of premiums or fraud in some cases.
* Option A: Incorrect. 6 months is too short for the contestable period.
* Option B: Incorrect. 12 months is insufficient; the standard is 24 months.
* Option C: Correct. The contestable period is 24 months.
* Option D: Incorrect. 36 months exceeds the standard period.
This question aligns with the Prometric content outline under "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers the incontestability provision.
:
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 # 79
Generally, all of the following apply to group life insurance EXCEPT
Answer: B
Explanation:
Group life insurance is typically provided through an employer or organization, covering multiple individuals under a single master policy. It does not require individual underwriting or evidence of insurability for most members, and premiums are based on the group's overall risk factors (e.g., age, occupation), as outlined in Oklahoma's Insurance Code (Title 36 O.S. § 4101 et seq.). A key advantage is that group policies generally havelower ratesper individual compared to individual policies due to risk pooling, making the statement that insureds pay a higher rate incorrect.
* Option A: Incorrect (applies). Individual underwriting is not required; the group is assessed as a whole.
* Option B: Incorrect (applies). Evidence of insurability is typically not required for standard group coverage.
* Option C: Incorrect (applies). Pricing is based on the group's risk factors.
* Option D: Correct (does not apply). Group life insurance rates are generally lower, not higher, than individual policies.
:
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. § 4101 et seq. (group life insurance provisions).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 80
A single contract for group medical insurance issued to an employer is known as
Answer: D
Explanation:
In group medical insurance, themaster policyis the single contract issued to the employer or group sponsor (e.
g., a trust or association) that outlines the terms, conditions, and coverage for the entire group. Individual employees receivecertificates of insurance, which summarize their coverage under the master policy but are not the contract itself.
* Option A: Correct. The master policy is the contract issued to the employer for group medical insurance.
* Option B: Incorrect. "Employer policy" is not a standard insurance term.
* Option C: Incorrect. A certificate policy refers to the document given to individuals, not the group contract.
* Option D: Incorrect. "Conglomerate policy" is not a recognized term in insurance.
This question falls under the Prometric content outline section on "Health Providers and Products," which covers group health insurance structures.
:
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. § 4101 et seq. (group health insurance provisions).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 81
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