Life, Accident & Health or Sickness

Question 1

Type of insurer operates for profit no capital stock

Answer 1

Mutual

Question 2

TRUE regarding an insurer exam ordered by OID

Answer 2

Ordered every 5 years insurer pays

Question 3

Not a qualification of Insurance Commissioner

Answer 3

High school degree

Question 4

A mutual insurer

Answer 4

A participating company owned by policy owners

Question 5

Insurer with home office in Illinois sales office in Oklahoma

Answer 5

Foreign insurer

Question 6

Blue Cross Blue Shield is what Type of insurer

Answer 6

Service

Question 7

What Type of insurer operates non-profit

Answer 7

Fraternal

Question 8

Type of authority could insurer be liable for unauthorized actions of agent

Answer 8

Apparent

Question 9

Although not in contracts producers allowed to advertise using insurers logo

Answer 9

Implied

Question 10

All the following statements are True regarding producers appointment EXCEPT

Answer 10

For 24 month period of time

Question 11

Producer can receive a commission IF

Answer 11

Licensed & Bonded

Question 12

Would require a producers license EXCEPT

Answer 12

Giving a Referral

Question 13

Producer receiving written notice from OID regarding potential violation of insurance code must respond Within

Answer 13

20 Days

Question 14

All are True regarding appointment of producer EXCEPT

Answer 14

Insurer notifying OID within 30 days after new producer agreement signed

Question 15

A producer moves to Australia with no intention of returning to OK which is True

Answer 15

Must notify OID of address change within 30 Days

Question 16

An agent who resides in Another state is called

Answer 16

Non-Resident Agent

Question 17

In case of death or disability OF licensed producer a temp licensed issued for period of

Answer 17

180 Days

Question 18

True regarding continuing education EXCEPT

Answer 18

(F) No continuing education required during first license renewal

Question 19

Producers must account for all premiums collected from policy owners. The producer is acting what capacity

Answer 19

Fiduciary

Question 20

OID revoke license all EXCEPT

Answer 20

Producer charged with Felony

Question 21

Who orders exam of alien insurer

Answer 21

OID

Question 22

Action would OID take after receiving notice of licensees violation of code

Answer 22

Give notice

Question 23

License who disagrees with an OID order would appeal where

Answer 23

Court

Question 24

Producer giving leather brief case to prospect as Thank You for doing biz

Answer 24

Rebating

Question 25

Under Unfair Practices & Fraud Act producer using misrepresentation to persuade insured to replace indiv. Life policy committed which illicit act

Answer 25

Twisting

Question 26

If producer is using misrepresentation for purpose of injuring another producer

Answer 26

Defamation

Question 27

Under OK Code all are reasons for producer license to be revoked EXCEPT

Answer 27

Acquitted of felony

Question 28

Producer who intimidates consumer has engaged in what activity

Answer 28

Coercion

Question 29

Producer saying a policy being sold is comprehensive when it is not called

Answer 29

Misrepresentation

Question 30

Misrepresenting details of policy to encourage policy owner to replace that policy is

Answer 30

Twisting

Question 31

What is replacement

Answer 31

Buy one policy and let one policy lapse

Question 32

Would be considered an unfair claims practice

Answer 32

Not attempting in good faith to settle a claim

Question 33

When replacing an existing life ins. policy which is NOT true

Answer 33

Insurer must report the replacement to the Life & Health Guaranty Assoc.

Question 34

Penalty for an insurer guilty of a violation of Unfair Claims Settlement Practices Act

Answer 34

Civil Fine of $100 to $5000

Question 35

All examples of misrepresentative EXCEPT

Answer 35

Producer advises insured a mutual has paid 5% dividend past 10 years

Question 36

Producer misrepresenting details of policy to persuade policy owner to replace existing policy is called

Answer 36

Twisting

Question 37

When one policy is exchanged for another

Answer 37

Replacement