2026 Ok-Life-Accident-and-Health-or-Sickness-Producer Question Bank: Free PDF Download Recently Updated Questions
Ok-Life-Accident-and-Health-or-Sickness-Producer Certification Exam Dumps with 157 Practice Test Questions
NEW QUESTION # 74
Laura has a group medical plan that has an 80% coinsurance provision but no deductible. She recently incurred a $1,000 medical bill. How much will Laura have to pay?
- A. $800
- B. $1,000
- C. $0
- D. $200
Answer: D
Explanation:
In a group medical plan with an80% coinsurance provisionand no deductible, the insurer pays 80% of covered medical expenses, and the insured pays the remaining 20%. For Laura's $1,000 medical bill, the insurer covers 80% ($1,000 × 0.80 = $800), and Laura pays 20% ($1,000 × 0.20 = $200). This calculation aligns with standard health insurance cost-sharing provisions in Oklahoma (Title 36 O.S. § 6060.3).
* Option A: Incorrect. Laura must pay her coinsurance share, not $0.
* Option B: Correct. Laura pays $200 (20% of $1,000).
* Option C: Incorrect. $800 is the insurer's share, not Laura's.
* Option D: Incorrect. Laura does not pay the full $1,000; she pays only her coinsurance portion.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Accident and Health Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 6060.3 (health insurance policy provisions).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 75
Mortgage redemption or cancellation insurance is a form of what type of insurance?
- A. Increasing term.
- B. Level premium whole life.
- C. Decreasing term.
- D. Level premium universal life.
Answer: C
Explanation:
Mortgage redemption or cancellation insuranceis a type ofdecreasing term life insurancedesigned to pay off a mortgage balance if the insured dies. The death benefit decreases over time, matching the declining mortgage balance, while premiums typically remain level, making it cost-effective for this purpose.
* Option A: Incorrect. Increasing term insurance has a rising death benefit, unsuitable for mortgage protection.
* Option B: Correct. Decreasing term insurance aligns with the declining mortgage balance.
* Option C: Incorrect. Whole life provides permanent coverage with cash value, not specific to mortgage payoff.
* Option D: Incorrect. Universal life is flexible permanent insurance, not typically used for mortgage redemption.
This question falls under the Prometric content outline section on "Life Products," which covers types of term 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 (life insurance products).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 76
Benefits required under the child immunization coverage shall NOT be subject to
- A. a set immunization schedule.
- B. a prior authorization.
- C. a deductible.
- D. an annual maximum number of immunizations.
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 # 77
Under the Standard Nonforfeiture Law, any cash value accumulation MUST be made available to the policyowner if the policyowner
- A. becomes disabled.
- B. stops paying the premium.
- C. is not notified within 60 days of the contractual changes.
- D. files for bankruptcy.
Answer: B
Explanation:
TheStandard Nonforfeiture Law, codified in Oklahoma at Title 36 O.S. § 4029, requires life insurance policies with cash value to provide nonforfeiture benefits if the policyowner stops paying premiums. These benefits ensure the policyowner can access the accumulated cash value through options like a cash surrender value, extended term insurance, or reduced paid-up insurance, preventing total loss of the policy's value.
* Option A: Correct. If the policyowner stops paying premiums, the cash value must be made available per the nonforfeiture law.
* Option B: Incorrect. Contractual changes are governed by policy provisions, not nonforfeiture laws.
* Option C: Incorrect. Disability may trigger a waiver of premium rider, but it does not directly relate to nonforfeiture benefits.
* Option D: Incorrect. Bankruptcy does not trigger nonforfeiture benefits; it may involve creditor claims but is unrelated to premium cessation.
This question falls under the Prometric content outline section on "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which includes nonforfeiture provisions.
:
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. § 4029 (standard nonforfeiture law).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 78
In terms of consideration, in which of the following circumstances is a health insurance contract effective?
- A. When the insured pays the premium and the policy is issued as applied for.
- B. When the insurance company provides the services promised in the contract.
- C. When the insured pays the premium for a plan.
- D. When the contract has been signed by both the insured and the insurance company.
Answer: A
Explanation:
In insurance, a contract is effective when there is mutual consideration, offer, acceptance, and a meeting of the minds. For a health insurance contract, this occurs when the insured pays the initial premium (consideration from the insured) and the insurer issues the policy as applied for (acceptance by the insurer), as outlined in Oklahoma's Insurance Code (Title 36 O.S. § 4401). The policy becomes binding at this point, assuming all other conditions (e.g., underwriting approval) are met.
* Option A: Incorrect. Providing services occurs during claims, not when the contract is effective.
* Option B: Incorrect. Paying the premium alone is not sufficient without policy issuance.
* Option C: Correct. The contract is effective when the premium is paid and the policy is issued as applied for.
* Option D: Incorrect. Signing by both parties is not typically required; issuance and premium payment suffice.
This question aligns with the Prometric content outline under "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers contract formation in health insurance.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Accident and Health Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 4401 (health insurance contracts).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 79
From an insured's perspective, what is the PRIMARY and MOST attractive feature of a viatical settlement?
- A. Guaranteed renewability.
- B. Policy assignment provisions.
- C. Reduced prepayment of a death benefit.
- D. Discounted premiums.
Answer: C
Explanation:
Aviatical settlementallows a terminally ill insured to sell their life insurance policy to a third party for a lump sum, typically less than the death benefit, to access funds during their lifetime. The primary and most attractive feature for the insured is receiving areduced prepayment of the death benefit, providing immediate cash for medical or personal needs, as regulated in Oklahoma (Title 36 O.S. § 4055.1 et seq.).
* Option A: Incorrect. Viatical settlements do not involve discounted premiums; the policy is sold.
* Option B: Correct. The reduced prepayment of the death benefit is the main benefit for the insured.
* Option C: Incorrect. Policy assignment is a mechanism, not the primary feature.
* Option D: Incorrect. Guaranteed renewability is unrelated to viatical settlements.
This question falls under the Prometric content outline section on "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers viatical settlements.
:
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. § 4055.1 et seq. (viatical settlements).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 80
Within a specified number of days, a free-look provision gives the
- A. policyowner the right to return the policy for a full refund.
- B. policyowner the right to return the policy for a partial refund.
- C. company the right to rescind the policy.
- D. company the right to alter the policy.
Answer: A
Explanation:
Thefree-look provision, required in Oklahoma for life and health insurance policies (Title 36 O.S. § 4007 for life, § 4405 for health), allows the policyowner to return the policy within a specified period (typically 10 days for life, 30 days for Medigap) from receipt for afull refundof premiums paid, no questions asked. This protects consumers by allowing time to review the policy.
* Option A: Incorrect. The insurer cannot rescind during the free-look period; that right applies to contestability.
* Option B: Incorrect. The refund is full, not partial, during the free-look period.
* Option C: Correct. The policyowner can return the policy for a full refund within the specified period.
* Option D: Incorrect. The insurer cannot unilaterally alter the policy during the free-look period.
This question aligns with the Prometric content outline under "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers free-look 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. § 4007, § 4405 (free-look provisions).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 81
Any person of competent legal capacity may contract for life and health insurance at a MINIMUM age of
- A. 21.
- B. 15.
- C. 18.
- D. 16.
Answer: C
Explanation:
In Oklahoma, the minimum age for a person of competent legal capacity to contract for life and health insurance is18, as this is the age of majority under Oklahoma law (Title 15 O.S. § 13). Individuals under 18 may be insured (e.g., as dependents or under juvenile policies), but they cannot enter into insurance contracts themselves unless emancipated.
* Option A: Incorrect. Age 15 is below the age of majority.
* Option B: Incorrect. Age 16 is below the age of majority.
* Option C: Correct. Age 18 is the minimum age for contracting insurance in Oklahoma.
* Option D: Incorrect. Age 21 is not required; 18 is sufficient.
This question falls under the Prometric content outline section on "State Insurance Statutes, Rules, and Regulations," which covers eligibility to contract insurance.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: State- Specific Knowledge - Oklahoma Insurance Statutes).
Oklahoma Insurance Department, Title 15 O.S. § 13 (age of majority).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 82
To be eligible for a small group health insurance plan, a company may NOT have more than how many employees?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: B
Explanation:
In Oklahoma, asmall group health insurance planis defined under Title 36 O.S. § 6512 as coverage for employers with2 to 50 employees, aligning with federal standards under the Affordable Care Act (ACA).
Companies with more than 50 employees are considered large groups and subject to different regulations.
* Option A: Incorrect. 2 employees is the minimum for a small group plan, not the maximum.
* Option B: Incorrect. 10 employees is below the maximum limit.
* Option C: Incorrect. 40 employees is within the small group range.
* Option D: Correct. A company with more than 50 employees is not eligible for a small group plan.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Accident and Health Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 6512 (small group health insurance).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 83
The settlement option that allows proceeds to remain with the insurer and the earnings to be paid to the beneficiary on a monthly basis is called
- A. fixed period.
- B. interest only.
- C. lump sum.
- D. fixed amount.
Answer: B
Explanation:
Theinterest onlysettlement option allows life insurance proceeds to remain with the insurer, with theearnings (interest) paid to the beneficiary periodically (e.g., monthly). The principal remains intact until another settlement option is chosen or the proceeds are withdrawn, as outlined in Oklahoma's life insurance regulations (Title 36 O.S. § 4001 et seq.).
* Option A: Correct. The interest only option pays earnings to the beneficiary while retaining the proceeds.
* Option B: Incorrect. Lump sum pays the entire proceeds at once.
* Option C: Incorrect. Fixed period pays principal and interest over a set time.
* Option D: Incorrect. Fixed amount pays a set amount until proceeds are exhausted.
:
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. § 4001 et seq. (life insurance settlement options).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 84
Which of the following is an ADVANTAGE to the policyowner of the recurrent periods of disability provision in the disability income policy?
- A. It reduces the annual premium amount.
- B. It reduces the actual period of disability.
- C. It improves the insurability of the applicant.
- D. It protects the insured from multiple elimination periods.
Answer: D
Explanation:
Therecurrent periods of disability provisionin a disability income policy allows related or recurring disabilities within a specified timeframe (e.g., 6 months) to be treated as a single disability period. This protects the insured from serving multipleelimination periods(the waiting period before benefits begin), ensuring faster benefit payments for recurrent conditions, as per standard disability policy provisions in Oklahoma (Title 36 O.S. § 4405).
* Option A: Incorrect. The provision does not reduce premiums; it affects benefit timing.
* Option B: Correct. It protects the insured from multiple elimination periods for recurrent disabilities.
* Option C: Incorrect. The provision does not impact insurability; it's a policy feature.
* Option D: Incorrect. It does not reduce the disability period; it simplifies benefit access.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Accident and Health Insurance).
Oklahoma Insurance Department, Title 36 O.S. § 4405 (health insurance provisions).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 85
In Oklahoma, a foreign insurer is one formed under the laws of
- A. another state or government of the United States.
- B. Oklahoma or under the laws of a state geographically bordering Oklahoma.
- C. Oklahoma.
- D. a country other than the United States.
Answer: A
Explanation:
In Oklahoma's Insurance Code (Title 36 O.S. § 105), aforeign insureris defined as an insurance company formed under the laws of another U.S. state or territory. This distinguishes it from adomestic insurer(formed in Oklahoma) and analien insurer(formed in a foreign country).
* Option A: Incorrect. An insurer formed in Oklahoma is a domestic insurer.
* Option B: Incorrect. An insurer from a foreign country is an alien insurer.
* Option C: Correct. A foreign insurer is formed under the laws of another U.S. state or government.
* Option D: Incorrect. Geographic proximity is irrelevant; the definition is based on legal formation.
This question aligns with the Prometric content outline under "State Insurance Statutes, Rules, and Regulations," which covers insurer classifications.
:
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. § 105 (definitions of insurers).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 86
An agent's underwriting duties include which of the following?
- A. Issuing the policy.
- B. Completing all applications and collecting initial premiums.
- C. Declining or accepting an application.
- D. Setting premium amounts.
Answer: B
Explanation:
An insurance agent, acting as afield underwriter, is responsible forcompleting applications accuratelyand collecting initial premiums, ensuring the information provided is truthful and complete for the insurer's underwriting process, as per Oklahoma's regulations (Title 36 O.S. § 1435.2). Setting premiums, accepting
/declining applications, and issuing policies are duties of the insurer's underwriting department, not the agent.
* Option A: Incorrect. Setting premiums is the insurer's responsibility, not the agent's.
* Option B: Correct. Agents complete applications and collect initial premiums as part of field underwriting.
* Option C: Incorrect. Declining or accepting applications is done by the insurer's underwriters.
* Option D: Incorrect. Issuing policies is the insurer's role, not the agent's.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section:
General Knowledge - Underwriting).
Oklahoma Insurance Department, Title 36 O.S. § 1435.2 (producer responsibilities).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 87
Which of the following is NOT a right of the life insurance policyowner?
- A. Assign or transfer the policy.
- B. Borrow from the cash values.
- C. Revoke an absolute assignment.
- D. Select and change a beneficiary.
Answer: C
Explanation:
A life insurance policyowner has several rights, including assigning or transferring the policy (e.g., through absolute or collateral assignment), borrowing against the cash value (in policies with cash value), and selecting or changing the beneficiary, as outlined in Oklahoma's Insurance Code (Title 36 O.S. § 4001 et seq.). However, anabsolute assignmenttransfers all ownership rights to the assignee, and the original policyowner cannot unilaterally revoke it without the assignee's consent, as it is a complete transfer of ownership.
* Option A: Incorrect (is a right). The policyowner can assign or transfer the policy to another party.
* Option B: Incorrect (is a right). The policyowner can borrow against the cash value in policies like whole life or universal life.
* Option C: Incorrect (is a right). The policyowner can select and change the beneficiary unless restricted (e.g., irrevocable beneficiary).
* Option D: Correct (is not a right). An absolute assignment cannot be revoked by the original policyowner without the assignee's agreement.
This question aligns with the Prometric content outline under "Provisions, Options, Exclusions, Riders, Clauses, and Rights," which covers policyowner rights and assignments.
:
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. § 4001 et seq. (life insurance policy provisions).
Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing.
NEW QUESTION # 88
All documents required under law in an insurance transaction may be stored, delivered, or presented by electronic means so long as it meets the requirements of the
- A. National Association of Insurance Commissioners.
- B. Uniform Electronic Transaction Act.
- C. Uniform Commercial Code.
- D. Oklahoma Insurance Commissioner.
Answer: B
Explanation:
TheUniform Electronic Transactions Act (UETA)is a model law adopted by Oklahoma (codified in Title
12A O.S. § 15-101 et seq.) that governs the use of electronic records and signatures in transactions, including insurance. It allows insurance documents to be stored, delivered, or presented electronically, provided they meet UETA's requirements for consent, accessibility, and record retention. Oklahoma's Insurance Code incorporates these standards for electronic transactions in insurance.
* Option A: Incorrect. The Uniform Commercial Code (UCC) governs commercial transactions, such as sales of goods, not electronic insurance documents.
* Option B: Correct. The Uniform Electronic Transactions Act provides the legal framework for electronic insurance documents in Oklahoma.
* Option C: Incorrect. The Oklahoma Insurance Commissioner enforces regulations but does not set the legal standard for electronic transactions.
* Option D: Incorrect. The National Association of Insurance Commissioners (NAIC) develops model laws but does not directly govern Oklahoma's electronic transaction requirements.
This question is part of the Prometric content outline under "State Insurance Statutes, Rules, and Regulations," which covers Oklahoma's laws on insurance transactions.
:
Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: State- Specific Knowledge - Oklahoma Insurance Statutes).
Oklahoma Insurance Department, Title 12A O.S. § 15-101 et seq. (Uniform Electronic Transactions Act).
Oklahoma Insurance Department, Title 36 O.S. § 1204 (insurance business conduct).
NEW QUESTION # 89
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
- A. merges with a foreign insurer.
- B. becomes financially insolvent.
- C. cannot meet its capital surplus requirements.
- D. depletes its loss reserves.
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 # 90
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