Oklahoma Life and Health Insurance Agent Exam

Need of a License: An individual who is acting as a Producer needs a license to sell life and health insurance in Oklahoma.

Who Grants a License: Licenses are granted by the Oklahoma Insurance Department.
Life and Health Insurance License Exam
Qualifications to receive a License: Individuals who wish to obtain an insurance license in the State of Oklahoma:
 
1. Be at least eighteen (18) years of age.
2. Be a resident of Oklahoma.
3. Pass the examination.
4. Apply for a license.
 
Applying for the Producer Exam:  Examinations are administered by the independent testing service, PSI Services, LLC. Registration and examination information can be found in the Oklahoma Candidate Information Bulletin, which should be reviewed thoroughly prior to registering for the exam. For the fastest and most convenient examination scheduling process, PSI recommends that you register for your examinations using the Internet. You can register online by accessing PSI’s registration website at www.psiexams.com. You may also register by telephone or fax, if needed. Please see the Candidate Information Bulletin for further details.
 
Test Information: Be sure to review the appropriate exam content outline to determine what topics are covered in the comprehensive exams. At the end of your exam, your score will be shown on the screen and you will receive a printed score report. To obtain a content outline for your specific examination, visit www.psiexams.com. The following is a general outline of exam content:
 
Oklahoma Producer's Examination for Life, Accident and Health Insurance
General: 112 items, Passing Score: 70%, Allotted Time: 158 minutes
State: 38 items, Passing Score: 70%, Allotted Time: 52 minutes
 
State-Specific Portion
Licensing (9 Items)
Appointment Procedures
Change of Address
Disciplinary Actions
Maintenance (including CE)
Process
Purpose
Qualifications
Temporary License
Types of Licensees
State Insurance Statutes, Rules, and Regulations (29 Items)
Accelerated Benefits
Capacity to Contract for Insurance - Minors
Credit Life, Accident, and Health
Domestic, Foreign, and Alien Insurers
Eligibility Requirements
Examination of Books and Records
Fair Credit Reporting Act
Fraternal Benefit Society
Fraud and False Statements
Insurance Commissioner General Duties and Powers
Life and Health Insurance Guaranty Association Act
Life Insurance Requirements
Mandated or Required Benefits
Mandated or Required Offers
Marketing/Advertising Practices
Medicare Supplement
Mutual Insurers
Other Requirements
Payment or Acceptance of Commission
Proof of Loss
Rate Filings
Small Employer Health Insurance
Standard Nonforfeiture Law
State Specific Definitions
Stock Insurers
Suitability
Unfair Claims Settlement Practices Act
Unfair Trade Practices
Rebating and Inducements
Defamation
Twisting 
 
General Portion
Provisions, Options, Exclusions, Riders, Clauses, and Rights (42 Items)
 Mandatory Provisions
 Entire Contract
 Time Limit on Certain Defenses
 Grace Period
 Notice of Claim
 Claim Forms
 Proof of Loss
 Time of Payment of Claims
 Payment of Claims
 Legal Actions
 Change of Beneficiary
 Continuation and Extension of Benefits
 Preexisting Conditions
 Policy Provisions and Options
 Entire Contract
 Insuring Clause
 Free Look
 Consideration Clause
 Owner's Rights
 Beneficiary Designations
 Primary and Contingent
 Revocable and Irrevocable
 Common Disaster
 Premium Payment
 Modes
 Automatic Premium Loan
 Reinstatement
 Policy Loans, Withdrawals, Partial Surrenders
 Nonforfeiture Options
 Dividends and Dividend Options
 Incontestability
 Assignments 
 Suicide
 Misstatement of Age
 Settlement Options
 Fraud
 Other Provisions and Clauses
 Probationary Period
 Elimination Period
 Coinsurance
 Deductibles
 Copayment
 Policy Exclusions
 Policy Riders
 Waiver of Premium
 Guaranteed Insurability
 Payor Benefit
 Accidental Death and/or Accidental Death and Dismemberment
 Accelerated Benefits
 Rights of Renewability
 Noncancellable
 Cancellable
 Guaranteed Renewable
 COBRA
 HIPAA
Life Products (30 Items)
Whole Life - Stock/Mutual
Term
Universal Life
 Endowment
 Joint Life
 Survivorship
 Variable Life
 Group Life
 Annuities
 Fixed
 Equity
 Variable Annuity
 Viatical Settlement
Underwriting (13 Items)
Completing the Application
 Required Signatures
 Collecting the Initial Premium and Issuing the Receipt
 Insurable Interest
 Medical Information and Consumer Reports
 Delivering the Policy
 When Coverage Begins
 Sales Practices
Considerations in Replacing Insurance (2 Items)
State Replacement Requirements
Types of Health Providers and Products (15 Items)
Limited Benefit Plans
 Specified Disease (cancer, heart)
 Hospital Confinement Indemnity
 Major Medical
 HMOs
 PPOs
 MEWAs
 Group Health Plans
 Credit Disability Policy
 Disability Income
 Dental
Medicare Supplement Insurance (5 Items)
Medicare Advantage (Part C)
 Part D
 Plans
Long-Term Care (LTC) Policies (5 Items)
Deductibility of Premiums for LTC Insurance for State Income Tax
Purposes
 Renewal Features
 Sales Requirements
 Minimum Standards
 Coverage Selections
 Suitability
 
How to Obtain the License: A new license application is required to be submitted online AFTER passing the licensing exam. Allow 3 business days for PSI to provide the exam results to the Oklahoma Insurance
Department (OID) electronically prior to applying. Access the OID web page at www.oid.ok.gov then select the License/Education tab and click on the “New” button for links and instructions on how to apply. Allow (5) business days for the OID to review the application. You will be notified, by the contact email address, when the application is approved or if the OID needs additional information. For additional information on licensure, please contact:
 
Oklahoma Insurance Department
Five Corporate Plaza
3625 NW 56th Street, Suite 100
Oklahoma City, OK 73112
(405) 521-3916
(800) 522-0071 (in-state only)
www.oid.ok.gov
 
License Renewal Requirements: Individual Producer licenses must be renewed every two years and there is a continuing education requirement.

Applicable Regulations: Life and health insurance Producers in Oklahoma are regulated by the Oklahoma Insurance Department.
 

For more information on life and health insurance agent licensing and exam preparation, go to Tests.com’s Life and Health Insurance Exam Guide.

And take Tests.com’s free Life and Health Insurance Agent Practice Test.

For life and health insurance agent exam preparation products, such as study guides, flashcards and courses, go to Tests.com’s Life and Health Insurance Sales Exam listings.

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