Chapter Exam - Oklahoma Laws and Rules

To be classified as a small employer in Oklahoma and employer must employ how many eligible employees

1-50

Individual health insurance policies must provide a premium free look period of ____ Days upon policy delivery

10

A group health plan sold in Oklahoma cannot deny exclude or limit benefits for losses incurred more than ___ months after the effective date of coverage due to pre-existing conditions

12 months

An Oklahoma producer must keep continuing education course requirements with a ___ year period

2

In conjunction with in Oklahoma insurance license renewal which one of the following is the continuing education requirement

24 hours every two years

Oklahoma requires that a licensee completes ___ hours of continuing education on the subject of ethics every reporting period

3

A licensee whose address changes must notify the commissioner within ___ days

30 days

Before terminating a long-term care policy for non-payment and ensure must give the policy owner ___ days advance notice

30 days

A medical expense plan must allow a hospital stay of at least ___ hours for mothers and newborn children following a normal delivery

48 hours

Each domestic company must have its financial records examined by the commissioner every ___ years

5

And ensure may exclude coverage for a pre-existing condition on a Medicare supplement policy for up to ____ months

6 months

An insured must provide written proof of loss to the insurer within ___ days from the date of loss

60

If an employee loses employment how long does the employee have to apply for COBRA (continuation of coverage)

60 days

Under HIPAA health insurance portability and accountability requires guarantee issue of insurance as long as there has not been more than a ___ day gap in coverage

63 days

What is the best way to define life insurance replacement

A transaction in which a new life insurance policy is purchased an existing life insurance policy is surrendered

An ensure formed according to the legal requirements of another country is considered a

Alien insurer

Licensee may only sell solar site and negotiate insurance contracts on behalf of the

Appointing insurer

When does an individual or group health policies coverage for a newborn child begin

At the moment of birth

When an existing life insurance policy is being replaced with a new in a replacement notice must be given

At the time of taking an application

All Medicare supplement policies sold during the open enrollment period must

Be issued regardless of health status

Long-term care policy sold in Oklahoma may offer coverage in which

Benefits are based on an individuals ability to perform activities of daily living

If a Texas company proposes and or makes an insurance contract by mail for an Oklahoma resident this is considered

Business in the state of Oklahoma

On issuance of an emergency cease and desist how must the commissioner deliver notice to the person affected

By certified mail

The insurance information and privacy protection act is designed to limit or direct the information collection activities of all the following except

COBRA representatives

The commissioner has reason to believe a producer is in violation of Oklahoma insurance log which of the following may be insured against the producer

Cease and desist order

Prepaid dental plans differ from most other types of dental plans in what way

Closed panel of dentists can only be used

When a producer uses physical or mental force with the intent of convincing an applicant to buy insurance this is considered

Coercion

For emailing a client and insurance document during a transaction what must the client provide before the producer can send the document

Consent to receive the email

All of these are used to prevent adverse selection in a group dental plan except

Decreased employee participation

Which of these is typically regarded as a major treatment in an indemnity dental plan

Dentures

Group life plans sold in Oklahoma typically contain a conversion option. If the insured elects this option the new policy

Does not require evidence of insurability

The following is information that should be taken into consideration when making suitable recommendations concerning the purchase of insurance except

Education

A prepaid dental plan has an agreement in place with a network of dentists which

Excepts and established amount as payment in full for the dental services rendered

A fraternal benefit society has each of the following characteristics except

Exist For profit

An example of an unfair claims settlement practices

Failing to adopt reasonable standards for prompt claims investigations

Violations of US code titled 18 section 1033 may result in

Find and or imprisonment

An annuity contract may be in returned for a full refund during them

Free look period

Under Oklahoma law which of these is not a form of inducement

Gift whose value is under $100

Oklahoma life and health insurance guaranty Association does not provide protection to

HMO subscribers

The producers license may only be suspended or revoked if the producer

Has been afforded a right to a hearing

When long-term care insurance is replace the insurer issuing the new policy cannot

Impose a new pre-existing conditions exclusion

What is the best definition of a producer

Individual appointed by an insurance company that represents the company and presents policies on its behalf

Before Medicare supplement advertisement is released to the public it must first be approved by

Insurance commissioner

Which of the following situations would qualify and insured to receive funds from an accelerated living benefit rider

Insured is expected to remain in a nursing home for life

A mutual insurance company is owned by

It's policyholders

Which of the following is an example of defamation

Making a statement that is false or maliciously critical of the financial condition of an insurer

Defamation occurs when a producer makes a false statement intended to

Making another insurer

A producer is not required to report a change in

Marital status

Under which circumstances may end insurable interest exist between two individuals in absence of an economic interest

Marriage partners

The pre-existing conditions exclusion under a small employer health plan

Maybe partially or fully satisfied by having credible coverage with a previous employer

Which of the following actions may result in a producers license being suspended

Misappropriation of premiums

A producer is failure to provide title and true nature of the policy upon solicitation is an example of

Misrepresentation

In Oklahoma false advertising is an example of

Misrepresentation

Twisting means

Persuading an insured to the insured's detriment to switch policies

Under which circumstances would inflation protection not being included in a long term policy

Policy owner declined the coverage and waiting

The ___ is responsible for determining the appropriateness of a Medicare supplement policy for an applicant

Producer

If an existing Medicare supplement policy is being replaced by a new policy who is required to sign the notice of replacement

Producer and applicant

Which of the following actions by a producer would not result in a license suspension or revocation

Producing an insignificant amount of new premium

A producer license is not required when

Providing referrals

An insurance producer agrees to pay the first monthly premium for an insurance applicant. This is called an

Rebate (which is illegal)

Which of these is not an unfair claims settlement practice

Refusing to pay persons bringing false or fraudulent claims

What is the life insurance producer of authorized to do

Solicit received and forwarded applications to the insured

Licensed producers in Oklahoma are authorized to

Solicit, receive, and forward applications to the insurer

Once a child is born and covered under health insurance plan any reduction in benefits on the newborn is

Strictly prohibited

An insured became the adoptive parent of a young child after the voluntary surrender by the birth mother. The child was considered a dependent under the insured's group health insurance policy from the date win

The child was placed in the insured's home

Insurance company is marketing a health insurance policy in Oklahoma which contains a provision that is in conflict with Oklahoma insurance law. What remedy must be taken by the insurer?

The provision must be amended to conform to the minimum statuary requirements

What is the primary reason for the commissioners examination for producers insurance records

To determine compliance with state insurance laws and regulations

A producer has committed an insurance crime that violates US code 1033 interstate commerce who would be responsible for the prosecution of this crime

US attorney general

Charging different premiums to policyholders in the same risk classification is referred to as

Unfair discrimination

Charging different rates between individuals of the same class and equal expectation of life is best described as

Unfair discrimination

When soliciting insurance producer cannot

emphasize Guaranty Association benefits