Ok Life Accident and Health or Sickness Producer Exam Free Dumps

dumps2026-01-03T11:20:12+08:00

Ok Life Accident and Health or Sickness Producer exam is easy to take now. There are 150 Questions plus 5 unscored in real Ok Life Accident and Health or Sickness Producer exam, and you have 150 minutes to answer all the questions. The required passing score is 70%. We provide the latest Ok Life Accident and Health or Sickness Producer exam dumps, which can make sure you pass the test easily. Free Ok Life Accident and Health or Sickness Producer exam dumps are available below.

Page 1 of 7

1. MEC's are formidable retirement mediums with many strengths to boast, but there are also disadvantages to take into account.

Which of the following is NOT a disadvantage of a Modified Endowment Contract (MEC)?

FIFO does not apply.

Policy loans are treated as ordinary income.

A penalty is levied on withdrawal before age 59.5.

There is a loss of tax-free death benefit privilege.

2. Henry would like to use his life insurance policy as collateral on a loan at his local bank

The process which permits the bank to be paid upon his death is called which of the following?

Indemnification

Assignment

Asset Liquefaction

Settlement Agreement

3. Which of the following is an employer owned and funded account that can help pay for health care expenses?

National Recoupment Accounts (NR-As)

Flexible Spending Accounts (FSAs)

Health Reimbursement Accounts CHRAs)

Point of Service plans (POSs)

4. Which policy provision stipulates the premium charges to be made in exchange for the guarantee of coverage by the insurance company?

Consideration

Incontestability

Premium Payment

Settlement Options

5. Against which primary benchmark is gross income measured to determine Medicaid eligibility?

Federal Poverty Level (PPL)

State Poverty Level (SPL)

Cost of Living Index (CLI)

Credit-Based Reporting (CBR)

6. Which of the following is NOT a benefit of a variable universal life insurance policy?

Guaranteed interest rate

Flexible premiums

Opportunity for high returns

Tax-free growth

7. Which type of policy is used to circumvent the requirement of insurable interest when buying a life insurance product?

Interest-sensitive whole life

Limited-pay whole life

Universal life

Investor-owned life

8. Which of the following is NOT an element of a contract?

Consideration

Offer and Acceptance

Compliant Parties

Legal Purpose

9. Henry is meeting with his advisor about future social security benefits. Henry would like to know what age he must be before he can receive full social security benefits.

What is the correct age?

62.5

72.5

10. Which of the following is the term for the period before a life insurance policy goes into effect?

Confirmation Period

Underwriting Review Period

Elimination Period

Probationary Period

Page 2 of 7

11. Jane is looking to maximize the available death benefit versus premiums paid.

Which of the following products is most likely to meet her need?

Return of Premium

Annual Renewable Term

Decreasing Term

Level Term

12. Which part of Medicare covers Hospitalization?

Part A

Part B

Part-C

Part D

13. Which of the following is NOT an eligible expense for long-term care insurance payments?

Prescription

Ambulatory assistance equipment

Vision Costs

Transportation Costs

14. In order to take out a life insurance policy on another individual, one crucial component is insurable interest.

Which of the following is least likely to be an insurable interest?

Roommate

Employer

Nephew

Ex-wife

15. Jeff wants to sign up for a whole life policy, but he works the night shift, so he isn't available to meet during business hours.

How should Jeff proceed?

Life insurance is unavailable for those who work night shifts.

He can send his wife to sign in his stead, so long as the agent obtains permission in advance.

He will have to forego initiating a policy until he finds time to sign in person.

Jeff can sign all applicable documents online.

16. Tracey intends to purchase a long-term care policy. She has a large emergency fund to rely on, so she only wants this policy in case of an extreme emergency.

Which feature of her policy might be adjusted to balance cost and risk in her case?

Benefit Initiation

Risk Waiver

Elimination Period

Inflation Protection

17. Scott purchased an individual disability insurance policy which states that the premium will continue to increase every year. This is an example of which type of disability policy?

Adjustable Age

Attained Age

Issue Age

Mediated Age

18. Billy filed his disability paperwork today, but his insurance agent told him it'll be six months before he sees any payments. He's inclined to get upset, but the agent told him that Billy did indeed choose the timeframe himself when he initiated the policy.

Which timeframe is this?

Confirmation Period

Underwriting Review Period

Elimination Period

Probationary Period

19. Madeline and Jacques have a single life insurance policy that pays no matter which one of them passes away first. This type of policy is known as which of the following?

Level Term

Joint Life

Survivorship Life

Flexible Premium Annuity

20. Each of the following is a benefit for new members joining a group health insurance policy except:

Coverage of pre-existing conditions

Reduced cost

Choice of provider

No waiting period

Page 3 of 7

21. A guaranteed insurability rider is defined as which of the following?

The insurance company cannot cancel the policy under any circumstances, even failure to pay premiums.

When a premium payment is made at application, the insurance company is contractually obligated to provide coverage immediately.

If the policy were to lapse for any reason, the customer has 90 days to reinstate the policy without proving insurability.

It provides an option to increase coverage without proving insurability.

22. Which of the following life insurance death benefit settlement options would provide regularly scheduled payments until the beneficiary passed away?

Fixed amount

Life-only

Fixed period

Interest only

23. Insurance companies are required to protect all nonpublic personal information of their customers and adequately explain their information-sharing practices.

Which act requires these security measures?

Gramm-Leach-Bliley Act

Glass-Steagall Act

HIPAA

Consumer Protection Act

24. Bill just joined ABC Paper Company as a clerk. His HR representative provided him with a benefits package including $25,000 of life insurance paid by his employer.

This group life insurance policy is which of the following?

Contributory

Employee-owned

Noncontributory

Employer-owned

25. Which of the following describes the primary difference between an annuity plan being qualified or unqualified?

Up-front capital

Risk reduction

Pre- or post-tax deductions

Ease of application

26. Betty took out a life insurance policy four years ago and now wishes she had taken out twice as much life insurance. She demands her agent double her coverage immediately and charge her twice the premium. The insurance company declines to do so.

Which part of the life insurance policy would the life insurance company reference in their response?

Retribution doctrine

Unilateral defense

Adhesion

Fluid Transition Restriction (FTR)

27. Indexed life insurance policies pay interest based on the performance of which of the following?

Dow Jones

US Consumer Price Index (CPI)

US Treasury note yields

Mutual Funds

28. Life insurance is a contract in which one party fulfills their obligation only if a specific and unpredictable event occurs; i.e., a death benefit being paid in the event of the death of a named insured.

Which term best describes the nature of such a contract?

Aleatory

Adhesive

Convertible

Indexed

29. Which of the following allows patients to choose whichever physician they prefer regardless of network?

Health Maintenance Organization (HMO)

Preferred Provider Organization (PPO)

Employer Group Health (EGH)

High Deductible Health Plan (HDHP)

30. Vera was recently denied a life insurance policy. The company stated that her income could not justify the amount of life insurance requested.

How far into the past can the insurer check to verify sufficient income?

6 months

12 months

18 months

24 months

Page 4 of 7

31. John is 3 years into a 20-year level term life policy, and his health has declined significantly since the policy's inception. He'd prefer a permanent whole-life policy now instead of his current term.

What special feature of term life insurance would allow him to make such a change?

Conversion

Policy Rider

Accelerated Death Benefit

Return of Premium

32. Gabriella just lost her husband a few weeks ago and was informed that she is eligible for a Social Security Lump Sum Death Payment.

How much money can she expect to receive?

$10,000

$2,000

$1,500

$255

33. When filing a life claim, which of the following is required before a payment to the beneficiary can be processed?

Proof of loss

Proof of unaltered policy

Proof of premium payments

Proof of insurability

34. Ross was terminated from his job and is concerned he will no longer have health insurance coverage. His HR rep states that Ross can continue his insurance temporarily by paying the portion of premium that his employer paid up until this point.

Which act of Congress provided this option?

Medicare for America Act of 2019

Consolidated Omnibus Budget Reconciliation Act

Affordable Care Act

Health Maintenance Organization Act of 1973

35. Jane has diabetes and a BMI that suggests obesity. Upon reviewing her application, the life insurance company offers her a policy but with a higher monthly premium due to the severity of her health risk.

Which of the following items determines the increase in cost?

Consideration

Standard Index Adjustment

Premium Modification

Table Rating

36. Brad's age was entered incorrectly on his life insurance application and was not discovered until nearly 40 years later, after he died.

What will happen to the payout of the policy?

The death benefit will be paid out in full due to being outside the contestability period.

The death benefit will be prorated by the number of years Brad's application was incorrect.

The death benefit will be paid out in full minus the difference in the premiums he would have paid had the application been correct.

Brad's death benefit will not be paid out due to the misrepresentation of crucial risk-based data.

37. After a life policy has been issued, who has the authority to change the beneficiary on the policy?

The insurer

The owner

The insured

The beneficiary

38. In most states an individual may have to "spend down" assets to qualify for Medicaid. In some states, individuals may use long-term care insurance payouts to avoid spending down.

This program is known as which of the following?

Spending Plan Assistance

Medicare Part E

Share Subrogation

Partnership Plan

39. Which of the following circumstances could trigger a request for autopsy?

Prescription drug overdose

Vehicular accident

Heart attack

Cancer

40. Bradley's 10-year level term life insurance policy was started 10 years ago and is about to expire. He is told that the following year his policy will enter an annually renewable term.

What will happen to his policy?

Each year he will have to requalify to keep his life insurance plan.

His premium will remain the same if he isn't late on a payment.

His premium will increase each year based on age.

He will have one year to find a new policy or his policy will self-terminate.

Page 5 of 7

41. Which of the following examples would receive a full payment in an Accidental Death & Dismemberment insurance policy?

Loss of life due to tornado

Loss of life due to drug overdose

Loss of life due to falling object

Loss of life due to heart attack

42. Bill purchased his home last month and has already begun to receive mail solicitations regarding life insurance with a death benefit tied to the balance of his mortgage loan.

What type of life insurance policy are these companies advertising?

Escrow Term

Indexed Life

Limited-Pay

Decreasing Term

43. Jill (42) has been without a full-time job for nearly two years. She has three children and a part-time job that pays her around $11,000 a year. She is concerned about future medical bills and would like a plan to help pay for these costs.

Which plan should she consider?

Medicare

Medicaid

COBRA

Medicare for All

44. Ralph paid his initial premium for his term life insurance policy at ABC Life Insurance Company. He was immediately handed a document referred to as a "binding receipt."

What is the main purpose behind a binding receipt?

Unconditional commitment that the death benefit will pay out

Conditional commitment that the death benefit will pay out after a medical exam is completed

Conditional commitment that the death benefit will pay out if the insured dies before the application is processed

Unconditional commitment that the death benefit will pay out if the application is processed in time

45. Which of the following is NOT a purpose of life insurance replacement model regulation?

Protect insurers from the impending risk of over indemnification due to nonduplication of benefits

Assure that purchasers receive information with which a decision can be made in his or her own best interest

Reduce the opportunity for misrepresentation and incomplete disclosure

Establish penalties for failure to comply with requirements of this regulations

46. Keith is a partner in his accounting firm and has been disabled for a year. Keith's partners do not expect Keith to return and after looking over their partner agreement, they discover a disability buy-out provision.

What does this provision require Keith to do?

Split his disability payments among the other partners

Cease all future disability payments

Sell his portion of the business to the remaining partners

Exit the firm

47. Gail is terminally ill and needs funds to help cover her bills. She learns of a company that offers to pay her cash in exchange for being named as her beneficiary on the life insurance when she passes away.

What is the name of such a transaction?

Accelerated death benefit

Final expense policy

Policy loan

Viatical settlement

48. Which Medicare part is also known as Medicare Advantage?

Part A

Part B

Part C

Part D

49. You can add a term rider on each of the following insurance policies except for which?

Whole Life

Universal Life

Limited Pay Life

Term Life

50. Health Savings Accounts (HSAs) are most commonly associated with which of the following?

High Deductible Health Plans

Preferred Provider Organizations

Health Maintenance Organizations

Health Reimbursement Accounts

Page 6 of 7

51. In the case of a universal life insurance policy, which rider can be purchased to help cover the cost in the event of disablement?

Waiver of Premium

Return of Premium

Waiver of Monthly Deduction

Insuring Clause

52. Each state mandates that life insurance companies provide a free look period of how many days?

At least 10 days

At least 15 days

At least 20 days

At least 30 days

53. Jill is asked for a premium payment upon submitting her life insurance application. She agrees and makes the payment.

When does her policy coverage begin?

After the policy is delivered

After the medical exam is complete

After she makes her second premium payment

Immediately

54. Which of the following restricts patients to a select network of physicians?

Health Maintenance Organization (HMO)

Preferred Provider Organization (PPO)

Employer Group Health (EGH)

High Deductible Health Plan (HDHP)

55. In which of the following clauses would premium payments and their due dates be established?

Premium Appendix

Insurance Binder

Insuring Clause

Consideration Clause

56. Debra recently purchased a life insurance policy and soon after regretted the decision.

Which policy provision would assist her in getting a refund of her premium payment?

Return Policy

Satisfaction Guarantee

Free Look

Consideration Clause

57. Percy contracted HIV a few years ago. While he is otherwise healthy, he is concerned that he won't be able to qualify for life insurance.

Which of the following best describes such an eligibility status?

HIV automatically makes him ineligible.

HIV does not automatically make him ineligible, but he will have a mandatory 90-day elimination period.

HIV must be reasonably managed for at least 2 years, or he will be automatically ineligible.

HIV alone does not disqualify him: it is one of many factors considered in a life insurance application.

58. Which policy provision allows the insurance company to automatically use funds from the policy cash value to pay unpaid life insurance premiums?

Grace Period

Flexible Premium Model

Non-forfeiture Option

Automatic Premium Loan

59. For a life insurance death benefit to be paid out in full, within what time limit following death must the claim be filed?

90 days

180 days

2 calendar years

Indefinite

60. Which of the following policies pays out a lump sum in the event of diagnosis?

Hospital Indemnity

Long-term disability

Cancer

Short-term Disability

Page 7 of 7

61. Bob reached his $5,000 health insurance deductible, and his doctor informed him that he will now be responsible for 20% of any future medical costs.

Which term best describes Bob's portion of his medical bills going forward?

Post-deductible

Co-insurance

Co-pay

Apportionment

62. Barbara recently inherited a sizeable financial estate and purchased an annuity from ABC Life Insurance company to pay her a monthly stipend for the rest of her life.

Which annuity product did she purchase?

Single Premium Deferred

Flexible-Premium Fixed

Single Premium Immediate

Flexible-Premium Deferred

63. Medicare Part A covers the first 60 days of a hospital stay and pays for all costs except for what amount?

$4,000

$1,600

$250

$100

Ok Life Accident and Health or Sickness Producer Exam Free Dumps

Ok Life Accident and Health or Sickness Producer Exam Free Dumps

Share this post