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Insurance Licensing Oklahoma Life, Accident, and Health or Sickness Producer Sample Questions:
1. The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to as
A) subrogation.
B) churning.
C) rebating.
D) twisting.
2. An insured individual who just turned 67 years old is still working and is a member of the group health insurance plan provided by his employer, which has 18 insured employees. In this case, Medicare will MOST likely
A) require the individual to cancel his group insurance.
B) not cover any claims to protect against overinsurance.
C) act as the primary insurer and pay claims up to the limit of the policy.
D) act as a secondary insurer and pay claims not completely covered by the group health insurance.
3. One advantage of a whole life insurance policy is that it offers
A) Initial lower premiums.
B) Variable premium amounts.
C) Permanent coverage.
D) Liberal underwriting guidelines.
4. An insurance producer who knowingly and willfully makes a fraudulent statement relating to an application for insurance is subject to all of the following EXCEPT
A) censure.
B) suspension.
C) discrimination.
D) revocation.
5. From an insured's perspective, what is the PRIMARY and MOST attractive feature of a viatical settlement?
A) Discounted premiums.
B) Reduced prepayment of a death benefit.
C) Guaranteed renewability.
D) Policy assignment provisions.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: B |
By Harry
