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Insurance Licensing Oklahoma Life, Accident, and Health or Sickness Producer Sample Questions:

1. One advantage of an individual term life insurance policy is

A) Death benefits always remain level.
B) Initial costs are lower.
C) Premiums will decrease as insured ages.
D) It offers a cash value.


2. The type of insurance used to indemnify a firm for the loss of earnings brought about by the death or disability of an officer or other significant employee is

A) employee welfare.
B) business continuation life.
C) key person.
D) business overhead.


3. 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) affiliation period.
B) preexisting condition.
C) diagnosed condition.
D) elimination period.


4. 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 have to wait until the next open enrollment period to enroll in the plan.
B) The employer will be required to pay the past due premiums.
C) The employee will be allowed to submit a new enrollment form and will be enrolled as of the date the new form is accepted.
D) The employee will be allowed to submit an enrollment form and all past due premiums, and will be retroactively insured.


5. Upon surrender of a whole life insurance policy, which has been in force for AT LEAST 3 full years, and within 60 days after the date the premium payment is due and unpaid, the insurer will

A) pay a cash surrender value.
B) extend the grace period.
C) reimburse all paid premiums.
D) refund premium.


Solutions:

Question # 1
Answer: B
Question # 2
Answer: C
Question # 3
Answer: B
Question # 4
Answer: D
Question # 5
Answer: A

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