OLAHI - Oklahoma Life Accident and Health Insurance Exam

Question 21: To earn an Oklahoma producer license, a candidate must achieve a stated minimum score on the licensing examination as published by the Insurance Department in its candidate information bulletin. Which of the following is the passing score a candidate must reach on the Oklahoma licensing examination?

Seventy percent

Sixty percent

Seventy-five percent

Eighty percent

Question 22: The Oklahoma Constitution provides for the manner in which the chief officer of the state Insurance Department comes to hold that office and answer to the public. Which of the following describes how the Oklahoma Insurance Commissioner is selected under the state constitution?

Appointed by the Governor

Appointed by the Legislature

Chosen by the insurance industry

Elected by the qualified electors

Question 23: The Oklahoma Constitution fixes the length of each term that the Insurance Commissioner serves after being elected by the voters of the state. Which of the following is the length of a single term of office for the Oklahoma Insurance Commissioner under the constitution?

Two years

Six years

Four years

Eight years

Question 24: Beyond fixing how the Insurance Commissioner is chosen and for how long, the Oklahoma Constitution sets a minimum age a person must reach in order to be eligible for that office. Which of the following is the minimum age required to serve as Oklahoma Insurance Commissioner?

Twenty-five years of age

Thirty years of age

Twenty-one years of age

Thirty-five years of age

Question 25: The Oklahoma Constitution limits how many total years a single person may serve as Insurance Commissioner over a lifetime, a restriction separate from the length of any one elected term. Which of the following is that lifetime limit on total service as Commissioner?

Twelve years

Sixteen years

Twenty years

Eight years

Question 26: The Oklahoma Constitution's eight-year cap on service as Insurance Commissioner is accompanied by qualifiers explaining how those years are counted toward the limit. Which of the following correctly states one of those counting qualifiers as the constitution provides?

The years must be served consecutively

The years need not be consecutive

Vacancy service always counts fully

Appointed years are never counted

Question 27: The Oklahoma Insurance Department's organizational rule divides the Department into a set number of numbered divisions covering functions ranging from licensing to financial examination and consumer assistance. Which of the following is the number of divisions into which that rule organizes the Department?

Ten divisions

Twelve divisions

Fifteen divisions

Twenty divisions

Question 28: Oklahoma's insurance-fraud investigators operate within a particular division of the Insurance Department rather than as a standalone agency or as part of another office. Which of the following is the division within which the Department's Anti-Fraud Unit is located under the organizational rule?

The Legal and Investigation Division

The Attorney General's office

The Financial Division

The Consumer Assistance Division

Question 29: The Department's organizational rule describes how the statutory examinations of domestic and foreign insurance companies are actually carried out on the Department's behalf. Which of the following describes who actually conducts those statutory insurer examinations under the Department's own organizational rule?

Only salaried Department employees

The Attorney General's investigators

The national commissioners association

Outside contract examiners

Question 30: The Department's rule enumerates the several bodies of law the Insurance Commissioner administers and enforces, and notably some of those bodies fall outside the Insurance Code itself. Which of the following is the number of separate bodies of law the rule assigns to the Commissioner?

Two bodies of law

Three bodies of law

Five bodies of law

Seven bodies of law

Question 31: Oklahoma law directs the Insurance Commissioner to prepare a report on the affairs of the office at a set interval and deliver it to a particular state official each cycle. Which of the following identifies both how often the report is made and to whom it is delivered?

Quarterly, to the Legislature

Annually, to the Governor

Annually, to the Attorney General

Monthly, to the Treasurer

Question 32: Under the Department's open-records rule, a public records request may be treated as given up if the requester fails to act within a set number of days after the Department asks for a fee or additional information. Which of the following is that number of days before the request is deemed abandoned?

Ten days

Fifteen days

Sixty days

Thirty days

Question 33: The Department's open-records rule identifies the specific failures by a requester that will cause a records request to be deemed abandoned within the response period. Which of the following pairs of failures triggers abandonment of a public records request under that rule?

Not paying a fee or supplying information

Filing by mail or filing by fax

Refusing inspection or refusing copies

Missing a hearing or missing a deadline

Question 34: Oklahoma law classifies insurers according to the jurisdiction under whose laws each company was originally organized, rather than by where it does business. Which of the following best describes a domestic insurer as that term is used in Oklahoma insurance law?

One formed under another state's laws

One formed in a foreign country

One formed under the laws of Oklahoma

One that sells only inside Oklahoma

Question 35: An insurance company that was organized under the laws of a different state now seeks approval to write business within Oklahoma alongside the state's own insurers. Which of the following classifications applies to that company when it operates in Oklahoma?

A domestic insurer

An alien insurer

A fraternal insurer

A foreign insurer

Question 36: A well-established insurance company that was organized under the laws of a country outside the United States now wishes to transact insurance within Oklahoma. Which of the following classifications does Oklahoma insurance law apply to that company when it begins operating here?

A foreign insurer

An alien insurer

A domestic insurer

A reciprocal insurer

Question 37: Oklahoma defines a state to include the territories, commonwealths, and districts of the United States when it classifies insurers by their place of organization. Given that definition, which of the following describes an insurer organized in a United States territory such as Puerto Rico?

It is a foreign insurer

It is an alien insurer

It is a domestic insurer

It cannot be classified at all

Question 38: Oklahoma distinguishes insurers by their ownership structure, and one type is an incorporated company whose capital is divided into shares held by its owners. Which of the following describes the owners of a stock insurer under that ownership structure?

Its policyholders

Its lodge members

Its shareholders

Its board of directors

Question 39: A mutual insurer differs from a stock insurer chiefly in who owns the company and whether it issues capital stock to raise its funds. Which of the following correctly describes a mutual insurer under Oklahoma's classification of insurer types?

An unincorporated pool of investors

A company owned by its shareholders

A lodge that operates on ritual

An incorporated insurer owned by policyholders

Question 40: Although stock insurers and mutual insurers differ in ownership, Oklahoma's definitions of the two forms share one structural feature that is common to both. Which of the following features do both stock and mutual insurers share under those definitions?

Both are incorporated insurers

Both are owned by shareholders

Both must issue capital stock

Both operate on a lodge system

OLAHI Oklahoma Life Accident and Health Insurance Exam - Set 1 - Part 2