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Quiz 2025 Ok-Life-Accident-and-Health-or-Sickness-Producer: Useful Latest Oklahoma Life, Accident, and Health or Sickness Producer Exam Exam Topics
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Insurance Licensing Oklahoma Life, Accident, and Health or Sickness Producer Exam Sample Questions (Q101-Q106):
NEW QUESTION # 101
An individual who is NOT acceptable by an insurer at standard rates because of health, habits, or occupation is called a
Answer: A
Explanation:
In insurance underwriting, individuals are classified based on their risk profile. Asubstandard riskis an applicant who, due to health issues, hazardous habits (e.g., smoking), or high-risk occupations (e.g., stunt performer), cannot be insured at standard rates. These individuals may be offered coverage at higher premiums or with exclusions, as outlined in standard underwriting practices and Oklahoma's regulations (Title 36 O.S. § 1204).
* Option A: Incorrect. "Rating risk" is not a standard underwriting term.
* Option B: Incorrect. A standard risk qualifies for standard rates with average risk.
* Option C: Incorrect. A preferred risk qualifies for lower-than-standard rates due to low risk.
* Option D: Correct. A substandard risk is not acceptable at standard rates due to higher risk factors.
This question aligns with the Prometric content outline under "Underwriting," which covers risk classification.
:
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).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 102
Benefits required under the child immunization coverage shall NOT be subject to
Answer: B
Explanation:
Oklahoma insurance regulations mandate that health insurance policies providing child immunization coverage must not impose certain restrictions that could limit access to these benefits. Specifically, the Oklahoma Insurance Code, Title 36 O.S. § 6060.3, states that "benefits for immunizations required under child immunization coverage shall not be subject to prior authorization requirements." This ensures that children can receive necessary immunizations without delays caused by insurer approval processes.
The Oklahoma Life, Accident, and Health or Sickness Producer Study Guide further clarifies, "Child immunization benefits must be provided without prior authorization to promote timely access to preventive care. However, benefits may still follow a recommended immunization schedule or be subject to other policy terms like deductibles, unless otherwise specified." Options A, B, and D are not explicitly prohibited under the law, making option C the correct answer.
References:
Oklahoma Insurance Code, Title 36 O.S. § 6060.3 (Child Immunization Coverage).
Oklahoma Life, Accident, and Health or Sickness Producer Study Guide, Section on Health Insurance Benefits and Mandates.
NEW QUESTION # 103
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
Answer: B
Explanation:
TheOklahoma Life and Health Insurance Guaranty Association, established under Title 36 O.S. § 2025 et seq., protects policyowners of admitted insurers in Oklahoma if the insurer becomesfinancially insolvent.
The association provides coverage up to statutory limits (e.g., $300,000 for life insurance death benefits,
$100,000 for cash value) to ensure policyholders receive benefits despite the insurer's insolvency.
* Option A: Incorrect. A merger with a foreign insurer does not trigger Guaranty Association protection unless it leads to insolvency.
* Option B: Correct. The Guaranty Association protects policyowners when an admitted insurer becomes financially insolvent.
* Option C: Incorrect. Failure to meet capital surplus requirements may lead to regulatory action but does not directly trigger Guaranty Association coverage.
* Option D: Incorrect. Depleting loss reserves is a financial issue but not the specific condition for Guaranty Association intervention, which requires insolvency.
This question falls under the Prometric content outline section on "State Insurance Statutes, Rules, and Regulations," which includes knowledge of the Guaranty Association.
:
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. § 2025 et seq. (Life and Health Insurance Guaranty Association Act).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 104
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
Answer: D
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 # 105
The grace period is a period of time
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 # 106
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