Free Life Accident and Health Insurance Basics Practice Questions
Oklahoma Life, Accident & Health exam — 119 practice questions.
Subtopics: Irrevocable beneficiary, Insurable interest, Agent versus broker, Field underwriting, Warranty, Concealment, Per stirpes, Underwriting sources, Risk classification, Charitable beneficiaries, Employer-owned life insurance, Simultaneous death, Creditor protection, Premium refund at death, Employer as beneficiary, Application copy, Application changes, Misstatements, Waiver, Limited benefit insurance, Accident and health defined, Genetic information, Personal uses, Determining amount, Business uses, Viatical settlements, Classes of policies, Premium factors, Premium frequency, Producer responsibilities, Policy delivery, Company underwriting, Classification of risks, Legal concepts, Definitions of perils, Types of losses and benefits, Limited health policies, Replacing health insurance, Premium determination, Conditional receipt, Binding receipt, Insuring clause, Consideration clause, Free-look provision, Policy ownership, Third-party ownership, Mortality table, Level premium concept, Net amount at risk, Policy reserves, Living benefits of cash value, Attending physician statement, Inspection report, Declined risk, Flat extra premium, Replacement, Buyer's Guide, Controlling adverse selection, Premature death, Final expense insurance, Estate liquidity, Charitable uses, Survivorship policy, Juvenile insurance, Life settlement, Creditor insurable interest, Human life value, Application signatures, Third-party consent, Incomplete application, Premium receipt, Substandard rating, Accelerated underwriting, STOLI, Needs analysis, Social Security, A&H types of losses, AD&D, Limited policies, Workers compensation, Subrogation, Health underwriting, Dependent coverage, Newborn coverage
Read the Life Accident and Health Insurance Basics study guide
Sample questions & answers
1. An irrevocable beneficiary designation generally means the policyowner:
Cannot change the beneficiary without that beneficiary's consent
An irrevocable beneficiary's consent is required before the owner can change the designation or exercise certain rights.
2. Which situation most clearly demonstrates the insurable interest needed to buy life insurance on another person?
A business partner the firm depends on
36 O.S. 3604(C) recognizes a lawful and substantial economic interest in the continued life of the insured, and parties to a business buy-sell agreement have an insurable interest in each other.
3. The principal difference often drawn between an insurance agent and a broker is that an agent generally:
Represents the insurer, while a broker typically represents the client
An agent generally represents the insurer, whereas a broker is generally regarded as representing the insurance buyer.
4. When a producer completes the application and gathers information about an applicant, the producer is performing:
Field underwriting
Gathering applicant information and completing the application accurately is the producer's role of field underwriting.
All Life, Accident & Health topics
Practice: Life Accident and Health Insurance Basics
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
