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

1. How is ownership of a mutual insurance company evidenced?

A) ownership of stock
B) certificate of deposit
C) ownership of a policy
D) bonds of the company


2. Under a multiple protection policy, the policy that pays on the death of the last person is called

A) a survivorship life policy.
B) an annuity life policy.
C) a universal life policy.
D) a joint life policy.


3. One advantage of an individual term life insurance policy is

A) Premiums will decrease as insured ages.
B) Initial costs are lower.
C) It offers a cash value.
D) Death benefits always remain level.


4. An alien insurer is which one of the following?

A) One formed under the laws of a state geographically bordering Oklahoma.
B) One formed under the laws of a state other than Oklahoma.
C) One formed under the laws of a country other than the United States of America.
D) One formed under the laws of Oklahoma.


5. Backdating on a life insurance policy is the practice of

A) excluding medical coverage for preexisting medical conditions.
B) accepting the premium after the expiration of the grace period.
C) reinstating a lapsed policy.
D) making the policy effective on an earlier date than the present.


Solutions:

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

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