STATE EXAM OKLAHOMA

In health insurance, the length of grace period varies according to which of the following?

The mode of premium payment

Who pays the expenses of the examiners used in an examination required by the Commissioner

The one being examined

According to the Common Disaster Clause, if the insured and the primary beneficiary died in the same accident and it cannot be determined who died first , which of the following would be assumed?

The primary died before the insured.

An employee is covered under COBRA. his previous premium payment was $100 per month. His employer now collects $102 each month. Why does the employer collect an extra $2?

To cover the employers administration costs.

Which of the following would be required to be licensed as an insurance producer?

A salaried employee who solicits and advertises group insurance

When an insured reinstated his major medical policy, he was involved in an accident that required hospitalization, when would this accident be covered upon reinstatement of the policy?

immediately

A medicare supplement policy must have a free look period of at least

30 days

An insurer must notify the consumer in writing that an investigative consumer report has been requested, how many days from the initial request request?

3 days

Which of the following best defines the Probationary Period in group health policies?

A specified period of time a person joining a group has to wait before becoming eligable for coverage

An insured has an individual disability income policy with a 30-day elimination period. He becomes disabled on June 1st and is disabled for 15 days. When will he collect on his disability income payments?

He won't collect anything

Under the long term care marketing regulations, which of the following questions would a producer NOT have to ask the insured in order to determine if the purchase is suitable?

How much are you able to pay in premiums?

Which of the following would NOT be considered a limited coverage policy?

Accident-only insurance

An insurer who transacts insurance in this state but whose articles of incorporation are registered in Canada is considered what type of insurer?

Alien

Which entity has the option of including optional provisions in a health insurance policy?

The insurer

What is it called when a doctor accepts of the Medicare approved amount?

Assignment

Which provision may be added to a permanent life policy, at no cost, that insures that the policy will not lapse so long as there is cash value?

Automatic Premium Loan Provision

How often must a consultants license be renewed?

Biennially (Every 24 months)

How is the Insurance guaranty association funded?

By its members

Which of the following describes the relationship between a capital sum and a principal sum

Capital sums are percentages of principal sums

Which of the following would be an example of an insurer participating in unfair trade practices of discrimination?

Charging the insured higher premiums based of race

Which of the following is NOT a typical type of Long-Term care coverage?

Child day care

Regarding the consideration clause, which of the following is NOT correct?

Consideration of the insurer and the insured must be equal

During policy solicitation, an insurer exaggerates the financial condition of one of its competitors and makes it sound worse than it is. This is an example of?

Defamation

An insurer mails an insurance policy to new policy owner. When the insurer relinquishes control of the policy, it is considered to be?

Delivered

A Major Medical Expense policy would exclude coverage for all of the following treatments EXCEPT

Drug addiction

Riley reads an agreement on the first page of her policy which includes a list of losses that will be covered by her and insurer. What is the name of this agreement clause?

Insuring clause

Which of the following is provided by Skilled Medical personnel to those who need occasional assistance or rehabilitation?

Intermediate Care

The frequency and the amount of the premium payment are known as what?

Premium mode

On an Accidental Death and Dismemberment (AD&D), the death benefit payable is known as the

Principal Sum

In order to get a nonresident license in another state, a agent must

prove to the commissioner that he/she is a resident agent in another state

Under the ACA, when would pregnancy be considered a pre-existing condition?

If it begins before the coverage takes effect

Which act was introduced to reduce the cost of health care by utilizing preventative care?

HIPAA

Which act was introduced to reduce the costs of health care by utilizing preventative care?

HMO Act of 1973

An insurance company that is owned by its policyholders is called

Mutual Insurer

Only the agent is involved in completing the agents report. The agents statement is

Not included in the "entire contract"

With respect to the entire contract clause in health policies, who has the authority to make changes to an existing policy?

Only an executive officer of the company

Existing and replacing life insurers are required to keep copies of all summaries, notices, and statements used in sales transactions until the conclusion of their next examination by the Insurance Department for a period of at least

3 years

All other factors being equal, which of the following premium modes would result in the lowest overall premium?

Annually (less reoccurring charges)

Which of the following covers life and disability of a debtor during the time a loan is outstanding?

Credit Life

Which of the following meets the insureds personal needs and is provided by nonmusical personnel?

Custodial Care

The "stop-loss" feature on a major medical policy is intended to

Establish a maximum amount of out-of-pocket expense that an insured will have to pay for medical expense in a calendar year

How often must an insurance consultant license be renewed?

Every 12 months

An applicant may challenge information discovered as a result of an investigative consumer report under which of the following Acts?

Fair Credit Reporting Act

A fraternal benefit society

Is operated for the benefit of its members

Which of the following statements is true of a combination dental plan?

It is a combination of a scheduled and a nonscheduled dental plan

An individual was denied coverage under Social Security because his disability did not meet the requirements for total disability used by Social Security. Which of the following would provide disability income coverage?

Medicare Supplement Insurance

All of the following are excluded from coverage in an individual health insurance policy EXCEPT:

Mental Illness

Guaranteeing future dividends is considered to be an unfair or deceptive act known as

Misrepresentation

Insurance contracts are unilateral in nature. What does that mean?

Only one party makes a promise

Which of the following is NOT mandatory under the Uniform Provisions Law applied to accident and health policies

Probationary Period

The insurance commissioner has the authority to do all of the following EXCEPT:

Rewrite insurance laws at any time

If a basic medical insurance plans benefits are exhausted, what type of plan will then begin covering these losses?

Supplementary Major Medical

Once the initial benefit limit is reached in Medicare Part D is reached, how is the beneficiary affected?

The beneficiary is then responsible for a portion of prescription drug costs

An insured needs ongoing treatment for a diabetic condition. Under PPACA, which of the following is correct?

The condition must be covered under the insureds plan

Which of the following provsions gives an employee the right to exchange group insurance for a individual insurance within a certain number of days from termination of employment?

Conversion provision (31 days)

Guaranteeing future dividends considered to be unfair or deceptive act known as

Rebating

An angel who knowingly misrepresents material information for the purpose of inducing an insured to lapse, forfeit, change, or surrender a life policy has committed an illegal practice known as

Twisting

Under the mandatory uniform provision "Notice of Claim", written notice of a claim must be submitted to the insurer within what time parameters?

Within 20 days