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
