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Life and Health Insurance Producer Exam

Policy provisions (OK): practice questions

Our Life & Health Insurance bank has 8 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Oklahoma

In Oklahoma, the term "guaranteed renewable" may be used only for an A&H policy the insured can keep in force until at least what age (for a policy issued at age 44 or younger)?

  1. Age fifty
  2. Age seventy
  3. Age sixty-five
  4. Age forty-five
Show the answer

A. Age fifty — 36 O.S. 4405(C)(2).

Question 2 · Oklahoma

Under Oklahoma law, an individual life policy becomes incontestable (except for nonpayment of premium) after it has been in force during the insured's lifetime for

  1. Six months
  2. One year from issue
  3. Five years from the date of issue
  4. Two years from issue
Show the answer

D. Two years from issue — 36 O.S. 4004.

Question 3 · Oklahoma

What grace period must an Oklahoma individual life insurance policy allow for premiums after the first?

  1. 30 days, or one month of at least 30 days
  2. 45 days
  3. 10 days, or the length of the premium mode
  4. 60 days, with interest charged on the unpaid premium
Show the answer

A. 30 days, or one month of at least 30 days — 36 O.S. 4003.

Question 4 · Oklahoma

If an insured dies by suicide within two years of issue, what may an Oklahoma life policy limit the payment to?

  1. Half of the stated face amount of the policy
  2. Nothing at all
  3. A return of all premiums paid
  4. The policy's net cash surrender value
Show the answer

C. A return of all premiums paid — 36 O.S. 4024(A)(3).

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