FINAL EXAM - OKLAHOMA LIFE AND HEALTH ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

Content Preview

FINAL EXAM - OKLAHOMA LIFE AND HEALTH ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS A licensee MUST notify the Commissioner of an address change within _______ days of the change. - Answer -30 Which of the following statements accurately describes the "time limit on certain defenses"? - Answer -After a stated period of time, claims cannot be denied due to material misrepresentation on the application All of these are duties that a producer may be required to perform when delivering an insurance policy EXCEPT - Answer -Leave a conditional receipt with client How long can an insurer legally defer paying the cash value of a surrendered life insurance policy? - Answer -6 months An advantage of owning a flexible premium life insurance policy would be - Answer -The Policyowner can make policy changes without difficulty Which of the following is NOT a duty of the Insurance Commissioner? - Answer -Enact insurance legislation What type of premiums are associated with individual mortgage protection life insurance policies? - Answer -Level premiums When compared to a fixed annuity, a variable annuity has what distinguishing feature? Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com - Answer -Investment risk is assumed by the purchaser If an employee loses employment, how long does the employee have to apply for COBRA (continuation of coverage)? - Answer -60 days The grouping of two or more small employers in order to obtain group health insurance at a favorable rate is called a multiple employer - Answer -Trust Which of these statements regarding the extended term insurance nonforfeiture option in a life policy is accurate? - Answer -The premium to purchase the coverage comes from the policy's cash value When a lapsed policy's premium has been paid current, it has the potential of being - Answer -Reinstated Medicare Part A does NOT provide coverage for - Answer -First 3 pints of blood The Change of Occupation provision in a Disability Income policy states that, in the event the insured changes to a less hazardous occupation, which of the following may apply? - Answer -Benefits can be increased in the event of a covered claim All of these may be an Unfair Claims Practice EXCEPT - Answer -Refusing to pay persons bringing false or fraudulent claims All of these statements concerning group credit life insurance are false EXCEPT - Answer -The face amount is determined by the outstanding loan balance Which report contains information regarding an individual's general reputation and credit standing? - Answer -Consumer report All life insurance illustration showing future premiums being paid out of Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com