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Insurance Licensing Oklahoma Life, Accident, and Health or Sickness Producer Sample Questions:
1. An insurance producer whose license has been revoked continues to provide insurance services. Which of the following is TRUE?
A) This violation is a misdemeanor and can result in a fine of up to $500.
B) This individual could be committed to the custody of the Department of Corrections for up to 10 years.
C) This violation is a felony and can result in a fine of up to $5,000.
D) This violation can result in a fine of up to $10,000.
2. A difference between permanent and term life insurance is
A) term life only covers the insured for 1 year.
B) term life is more economical for the insured over a long life span.
C) permanent life automatically covers an insured for 5 years even when premiums are not paid.
D) permanent life may develop cash value.
3. One area in which errors are commonly made on life insurance applications and for which the incontestable clause does NOT apply is
A) age.
B) state of residence.
C) education level.
D) occupation.
4. Unlike HMO plans, PPO plan members MOST often
A) must designate a primary care physician.
B) receive no medical benefits while traveling to other states.
C) have more choices of doctors and medical service providers.
D) can see a physician on a walk-in basis.
5. 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.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: A |
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