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Insurance Licensing Oklahoma Life, Accident, and Health or Sickness Producer Exam Sample Questions (Q36-Q41):

NEW QUESTION # 36
What is the purpose of the coordination of benefits provision in group health care?

A. To determine what is paid by the primary and secondary insurers in case of a claim.
B. To protect a secondary insurer from paying a claim.
C. To ensure that the insured gets all the treatment needed.
D. To determine which parent's plan covers a dependent child.

Answer: A

Explanation:
Thecoordination of benefits (COB)provision, regulated in Oklahoma (O.A.C. 365:10-5-4), prevents overinsurance by establishing which group health plan isprimary(pays first) and which issecondary(pays remaining covered expenses) when an insured is covered by multiple plans. This ensures claims are paid efficiently without exceeding the total expense. While COB includes rules for dependent children (e.g., the
"birthday rule"), its primary purpose is broader, covering all dual-coverage scenarios.
* Option A: Incorrect. COB focuses on payment allocation, not ensuring treatment.
* Option B: Correct. COB determines payment responsibilities between primary and secondary insurers.
* Option C: Incorrect. Determining dependent coverage is a subset of COB, not its primary purpose.
* Option D: Incorrect. COB does not protect secondary insurers from paying; it defines their payment role.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Accident and Health Insurance).
Oklahoma Insurance Department, O.A.C. 365:10-5-4 (coordination of benefits).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.

NEW QUESTION # 37
Ordinary life insurance should BEST be viewed by the consumer as

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

Answer: D

Explanation:
Ordinary life insurance, often synonymous with whole life insurance, is a type of permanent life insurance that provides coverage for the insured's entire life, as long as premiums are paid. It typically includes a level premium, a guaranteed death benefit, and a cash value component that grows over time. It is designed to offer permanent protection with some flexibility, such as the ability to borrow against the cash value or adjust premiums in certain policies (e.g., universal life).
* Option A: Incorrect. This describes term life insurance, which provides temporary protection during income-earning years. Ordinary life insurance is permanent, and cash values are not specifically
"payable" during non-earning periods but can be accessed.
* Option B: Incorrect. Ordinary life is not an endowment policy (which matures at a specific age) or tied directly to income levels. It is a whole life policy with level premiums.
* Option C: Correct. Ordinary life insurance provides permanent protection and some flexibility (e.g., cash value loans, dividend options in participating policies) with premiums that are generally lower than other permanent products like limited-pay whole life.
* Option D: Incorrect. Ordinary life is not temporary; it provides lifelong coverage. While it accumulates cash value, the protection is permanent, not limited to the policyowner's life expectancy.
This question is part of the Prometric content outline under "Life Products," focusing on the characteristics of ordinary (whole) life insurance.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Life Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 4002 (definitions of life insurance products).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.

NEW QUESTION # 38
How long is the contestable period for a life insurance policy?

A. 36 months
B. 12 months
C. 24 months
D. 6 months

Answer: C

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 # 39
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.

Answer: C

Explanation:
Under Oklahoma's Insurance Code (Title 36 O.S. § 1435.13), transacting insurance without a valid license, such as after revocation, is afelonypunishable by a fine of up to $5,000, imprisonment for up to 7 years, or both, depending on the severity and intent. This reflects the serious nature of unlicensed insurance activity.
* Option A: Incorrect. The fine limit is $5,000 for a felony, not $10,000.
* Option B: Correct. The violation is a felony with a fine up to $5,000.
* Option C: Incorrect. The violation is a felony, not a misdemeanor, with higher penalties.
* Option D: Incorrect. Imprisonment is up to 7 years, not 10 years.
:
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. § 1435.13 (penalties for unlicensed activity).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.

NEW QUESTION # 40
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. 5 years.
C. 4 years.
D. 3 years.

Answer: A

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 # 41
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