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

1. Every licensee must keep records pertaining to insurance transactions for how many years?

A) 5
B) 7
C) 10
D) 3


2. Which of the following is NOT a requirement to become a resident producer or adjuster in Oklahoma?

A) Live in Oklahoma for a period of 6 months or more.
B) Successfully passing a licensing examination.
C) Be at least 18 years of age.
D) Must be of good personal and business reputation.


3. An insured with a major medical policy has a per cause deductible of $100. Over the course of the year, the insured visits the doctor's office three times for injuries. Excluding the premium, what is the MINIMUM amount the insured MUST pay for the year if each visit costs $200?

A) $300
B) $100
C) $200
D) $500


4. Insurers do business in Oklahoma only after a thorough financial review. Insurance policies written in Oklahoma, that are protected by the Guaranty Association, protect policyowners in the event an admitted company

A) cannot meet its capital surplus requirements.
B) depletes its loss reserves.
C) becomes financially insolvent.
D) merges with a foreign insurer.


5. Jim purchased a $200,000 level term-to-age-65 life insurance policy when he was 35 years old. If Jim dies at age 50, what death benefit would be paid by this policy?

A) $50,000
B) $100,000
C) $150,000
D) $200,000


Solutions:

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

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