Free Other Property Insurance Practice Questions
Oklahoma Property exam — 63 practice questions.
Subtopics: Market Assistance Association, NFIP flood, NFIP waiting period, NFIP limits, Difference in conditions, Mobile home policy, Ocean marine implied warranty, General average, NFIP Risk Rating 2.0, NFIP Increased Cost of Compliance, Write Your Own program, Nationwide marine definition, Personal articles floater, Beachfront and windstorm plans, Ocean marine hull coverage, NFIP flood definition, NFIP contents limit, NFIP nonresidential limit, NFIP ICC limit, NFIP waiting exception - loan, NFIP map revision, NFIP building valuation, NFIP contents valuation, NFIP basement, NFIP proof of loss, NFIP lawsuits, NFIP loss avoidance, NFIP Community Rating System, NFIP participating community, NFIP emergency vs regular program, NFIP forms, Inland marine floater, Homeowners vs boat theft, Cargo coverage, Crop insurance, Crop-hail, DIC flood and quake, NFIP, Ocean marine, Farm property, Farm liability, Farm machinery, Inland marine floaters, Scheduled property, FAIR plans, Cyber - first party, Cyber coverage gaps, Cyber coverage forms
Read the Other Property Insurance study guide
Sample questions & answers
1. Oklahoma's Market Assistance Association was created to help place which coverages for Oklahoma residents?
Homeowners and liability insurance
36 O.S. 6412 creates the Market Assistance Association to assist in placement of homeowners' and liability coverage.
2. Which statement about Oklahoma's Market Assistance Association is correct?
It is not a carrier and cannot assume insurance risks
36 O.S. 6412 states the Association is not a carrier capable of assuming risks and cannot guarantee success of all placement efforts.
3. Before seeking homeowners coverage through Oklahoma's Market Assistance Association, an applicant whose policy was canceled must generally show refusals from how many licensed insurers?
Two
36 O.S. 6414(B)(1)(f) requires proof of cancellation or nonrenewal and refusal by two licensed insurers, or a premium increase of 75% or more.
4. An Oklahoma homeowner may also qualify to request coverage through the Market Assistance Association if the premium increased by at least what percentage from the prior year?
75 percent
36 O.S. 6414(B)(1)(f) allows access if the premium has been increased by seventy-five percent or more from the previous year.
Practice: Other Property Insurance
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.
