Question 1

All documents required under law in an insurance transaction may be stored, delivered, or presented by electronic means so long as it meets the requirements of the

Options :

A : Uniform Commercial Code.

B : Uniform Electronic Transaction Act.

C : Oklahoma Insurance Commissioner.

D : National Association of Insurance Commissioners.

Answer: B

Question 2

An insurance producer whose license has been revoked continues to provide insurance services. Which of the following is TRUE?

Options :

A : This violation can result in a fine of up to $10,000.

B : This violation is a felony and can result in a fine of up to $5,000.

C : This violation is a misdemeanor and can result in a fine of up to $500.

D : This individual could be committed to the custody of the Department of Corrections for up to 10 years.

Answer: B

Question 3

An individual who is NOT acceptable by an insurer at standard rates because of health, habits, or occupation is called a

Options :

A : rating risk.

B : standard risk.

C : preferred risk.

D : substandard risk.

Answer: D

Question 4

When a life insurance or annuity replacement policy is sold, the policyowner has a right to return the policy for a full refund of premium within

Options :

A : 3 days.

B : 7 days.

C : 14 days.

D : 20 days.

Answer: D

Question 5

An alien insurer is which one of the following?

Options :

A : One formed under the laws of Oklahoma.

B : One formed under the laws of a state other than Oklahoma.

C : One formed under the laws of a country other than the United States of America.

D : One formed under the laws of a state geographically bordering Oklahoma.

Answer: C

Free Life-and-Accident-Health-Sickness-Producer Mock Exam – Practice Online Confidently

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