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Insurance Licensing Oklahoma Life, Accident, and Health or Sickness Producer Sample Questions:

1. The type of insurance used to indemnify a firm for the loss of earnings brought about by the death or disability of an officer or other significant employee is

A) business overhead.
B) key person.
C) employee welfare.
D) business continuation life.


2. In broad terms, the types of support and services generally associated with Long-Term Care policies are provided at which three levels of care?

A) Skilled nursing, intermediate, and custodial care.
B) Home-based, assisted living, and medical care.
C) Functional, rehabilitational, and medical care.
D) Professional, social, and economic care.


3. What is the purpose of the coordination of benefits provision in group health care?

A) To ensure that the insured gets all the treatment needed.
B) To protect a secondary insurer from paying a claim.
C) To determine which parent's plan covers a dependent child.
D) To determine what is paid by the primary and secondary insurers in case of a claim.


4. Many Universal Life Policies will permit a partial surrender of cash value. The surrender amount would

A) have to be repaid.
B) increase the face amount.
C) increase the cash value.
D) not need to be repaid.


5. Which of the following BEST describes a waiver of premium clause in a typical disability policy?

A) This clause generally begins immediately with the doctor stating that the insured person is completely disabled.
B) The waiver of premium benefit pays the policy premium during a disability claim.
C) This clause eliminates any premium being paid for the lifetime of the insured individual.
D) The monthly benefit under the policy is reduced to offset the premium that is no longer being paid.


Solutions:

Question # 1
Answer: B
Question # 2
Answer: A
Question # 3
Answer: D
Question # 4
Answer: D
Question # 5
Answer: B

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