OPCI - Oklahoma Property and Casualty Insurance Exam

Question 1: An unlicensed helper at an Enid community fair praises one company's homeowners policy and repeatedly urges the visitors to apply to that company for coverage. Which term describes the activity this helper performed and that Oklahoma requires a license to do?

Underwriting

Adjusting

Soliciting

Countersigning

Question 2: A licensed producer in Broken Arrow sits with a business owner, discusses the specific benefits and conditions of a commercial policy the owner is weighing, and advises the owner on how those terms would apply to the business. Which term best describes what the producer did?

Negotiating

Soliciting

Adjusting

Ratemaking

Question 3: An Oklahoma insured and her insurer fall into a dispute over an ordinary licensed producer's handling of an application for coverage. In that controversy, which party is the producer regarded as representing, and how does that differ from a surplus lines broker's position?

The insured, like the broker

Neither party, staying neutral

The insurer, unlike the broker

The state, as a fiduciary

Question 4: An Oklahoma statute lists what it means to transact insurance so the licensing rules reach the full life of a sale. Which of the following activities falls within transacting insurance even though it happens well after the policy has already been placed with the insured?

Drafting the insurer's rate manual

Auditing the insurer's reserves

Printing blank application forms

Servicing matters arising from the contract

Question 5: An Oklahoma producer completes a transaction by exchanging a contract of insurance for the premium payment on behalf of the insurer. Under the licensing definitions, which single term most precisely names this particular act among the licensed activities a producer may lawfully perform?

Selling

Soliciting

Negotiating

Servicing

Question 6: After a licensed Oklahoma producer suddenly dies, the surviving spouse needs to keep the agency's book of business serviced while the estate is settled. Which of the following describes the distinctive feature of the temporary license the Commissioner may issue to allow that continued servicing?

It grants permanent authority immediately

It exempts the holder from supervision

It is issued without requiring an examination

It requires paying twice the fee

Question 7: A newly licensed Oklahoma producer holds authority only for the property line but is asked by a client to place a personal automobile policy, which sits in the casualty line. What does Oklahoma's licensing requirement demand before the producer may lawfully transact that automobile coverage?

Only a continuing education course

Only the insurer's written permission

Nothing further, since any license suffices

A license for that line

Question 8: A producer licensed and in good standing in Kansas wants an Oklahoma nonresident license and asks whether she must sit for the Oklahoma producer examination. Assuming her home state extends the same treatment to Oklahoma residents, what does Oklahoma generally require of her?

No Oklahoma examination, through reciprocity

Passing the full Oklahoma examination

Establishing Oklahoma residency within a year

Surrendering her Kansas resident license

Question 9: A new Oklahoma licensee assumes that merely holding a producer license, by itself, lets him commit any insurer to a risk. Which of the following correctly states what the license does and does not do regarding authority to bind a particular insurance carrier?

It binds every admitted insurer automatically

It replaces the need for appointment

The license creates no binding authority

It grants inherent authority over claims

Question 10: An Oklahoma continuing education provider is measuring classroom time so it can certify how many credit hours a live insurance course is worth. Under the Oklahoma rule, at least how many minutes of classroom instruction make up one continuing education credit hour?

Thirty minutes

Forty-five minutes

Sixty minutes

Fifty minutes

Question 11: A resident Oklahoma producer receives her first license in the middle of a calendar year and wants to know when her continuing education compliance period begins to run. Under the Oklahoma rule, when does the twenty-four-month continuing education period start for her?

The first day after licensure

On the producer's birthday each year

The first day of the next year

When the first appointment is filed

Question 12: An Oklahoma producer finishes several continuing education hours beyond the minimum during her current twenty-four-month period. Under the Oklahoma rule, how many excess credit hours may carry forward into the next period, and in what category do they carry when they do?

Twelve hours, any category

Six hours, as general hours only

Three hours, as ethics only

Unlimited hours, ethics or general

Question 13: An Oklahoma producer is planning the mix of courses for her twenty-four-month continuing education requirement. Apart from the ethics component, at least how many of her continuing education hours must the Oklahoma rule have her devote specifically to state or federal legislative updates?

One hour

Four hours

Two hours

Six hours

Question 14: An Oklahoma limited lines producer who sells only a narrow category of coverage asks whether the state's general continuing education requirements apply to him the way they apply to full-line producers. Under the Oklahoma continuing education rule, how are limited lines producers treated?

They complete double the usual hours

They complete only ethics hours

They complete the full producer requirement

They are not subject to the requirements

Question 15: An approved Oklahoma continuing education provider finishes teaching a course and must report the producers who completed it so their transcripts update promptly. Under the Oklahoma rule, within how many business days after the course must the provider upload the completion list to avoid a late fee?

Ten business days

Twenty business days

Thirty business days

Forty-five business days

Question 16: An Oklahoma insurer appoints several producers and budgets for the appointment fees it must pay the Insurance Department. Unlike the producer license fee, which runs on a two-year cycle, how often is the appointment fee for each appointed producer paid under the Oklahoma fee schedule?

Once at appointment, never again

Annually

Every two years with the license

Only when the producer is terminated

Question 17: An Oklahoma study guide printed several years ago describes a separate customer service representative license as its own credential. A candidate asks whether that separate license still exists today. Which statement most accurately reflects the current status of the customer service representative in Oklahoma?

It remains a distinct nonlicensed role

It was expanded into a broker license

Repealed; representatives are now licensed producers

It now needs only a temporary permit

Question 18: Oklahoma imposes no general prelicensing classroom hour requirement on ordinary resident producer applicants, but it does require prelicensing education for one particular license category before that examination. For which of the following applicants is a set number of prelicensing education hours required in Oklahoma?

Resident property and casualty producers

Nonresident producers moving into the state

Limited lines credit producers

Bail bondsmen

Question 19: A newcomer to Oklahoma insurance regulation asks how the state's chief insurance regulator reaches office, having heard that some states appoint the position. Under the Oklahoma Constitution, how does the Insurance Commissioner obtain the office that heads the state Insurance Department?

By election of the qualified electors

By appointment by the Governor

By selection by the Legislature

By appointment by the Department

Question 20: Building on the fact that Oklahoma elects its Insurance Commissioner, a candidate wants to know how long a single elected term of that office lasts under the state constitution. Which of the following correctly states the length of the Insurance Commissioner's term of office in Oklahoma?

Two years

Four years

Six years

Eight years

OPCI Oklahoma Property and Casualty Insurance Exam - Set 1 - Part 1

Question 1: An unlicensed helper at an Enid community fair praises one company's homeowners policy and repeatedly urges the visitors to apply to that company for coverage. Which term describes the activity this helper performed and that Oklahoma requires a license to do?

Question 2: A licensed producer in Broken Arrow sits with a business owner, discusses the specific benefits and conditions of a commercial policy the owner is weighing, and advises the owner on how those terms would apply to the business. Which term best describes what the producer did?

Question 3: An Oklahoma insured and her insurer fall into a dispute over an ordinary licensed producer's handling of an application for coverage. In that controversy, which party is the producer regarded as representing, and how does that differ from a surplus lines broker's position?

Question 4: An Oklahoma statute lists what it means to transact insurance so the licensing rules reach the full life of a sale. Which of the following activities falls within transacting insurance even though it happens well after the policy has already been placed with the insured?

Question 5: An Oklahoma producer completes a transaction by exchanging a contract of insurance for the premium payment on behalf of the insurer. Under the licensing definitions, which single term most precisely names this particular act among the licensed activities a producer may lawfully perform?

Question 8: A producer licensed and in good standing in Kansas wants an Oklahoma nonresident license and asks whether she must sit for the Oklahoma producer examination. Assuming her home state extends the same treatment to Oklahoma residents, what does Oklahoma generally require of her?

Question 9: A new Oklahoma licensee assumes that merely holding a producer license, by itself, lets him commit any insurer to a risk. Which of the following correctly states what the license does and does not do regarding authority to bind a particular insurance carrier?

Question 10: An Oklahoma continuing education provider is measuring classroom time so it can certify how many credit hours a live insurance course is worth. Under the Oklahoma rule, at least how many minutes of classroom instruction make up one continuing education credit hour?

Question 11: A resident Oklahoma producer receives her first license in the middle of a calendar year and wants to know when her continuing education compliance period begins to run. Under the Oklahoma rule, when does the twenty-four-month continuing education period start for her?

Question 12: An Oklahoma producer finishes several continuing education hours beyond the minimum during her current twenty-four-month period. Under the Oklahoma rule, how many excess credit hours may carry forward into the next period, and in what category do they carry when they do?

Question 16: An Oklahoma insurer appoints several producers and budgets for the appointment fees it must pay the Insurance Department. Unlike the producer license fee, which runs on a two-year cycle, how often is the appointment fee for each appointed producer paid under the Oklahoma fee schedule?

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