Oklahoma Insurance Adjuster's License Practice Test

These questions are part of the practice quiz. Start practicing

• What must an insurer do regarding a proof of loss requirement on a property loss claim?
• Which experience modification factor suggests that an insured has had a relatively high frequency and severity of losses recently?
• If a claimant in Oklahoma is unrepresented, what must the insurer provide regarding statute of limitations for a first-party claim?
• If an Oklahoma insurer needs more than the usual 60 days to investigate a claim that does not involve fraud or arson, what is the maximum amount of time the insurer has to complete the investigation of this claim?
• What is an essential condition for an event to be considered as an 'occurrence' in workers' compensation claims?
• How are workers' compensation benefits calculated for permanent total disability?
• How can adjusters defend against claims denial allegations?
• What is the primary purpose of a warranty in an insurance policy?
• What is a requirement for workers' compensation coverage in Oklahoma?
• What is the minimum continuing education requirement for earthquake insurance in Ollie's renewal courses?
• What is the fine imposed by the Oklahoma Workers Compensation Court Administrator for failing to report a workers compensation claim?
• Which scenario exemplifies a morale hazard?
• What action must an insurer take if they determine liability for a claim but fail to settle it within the set timeframe?
• How should medical information in a workers' compensation claim file be organized?
• An employee who injured his shoulder and could no longer perform his/her original job but was rehabilitated to perform another job would be classified under which type of disability?
• What constitutes a compensable injury?
• Which of the following amounts would be considered Mark's TTD benefit if it exceeds the minimum and maximum thresholds?
• What should an adjuster do if they suspect fraud while handling a claim?
• What is the lump sum benefit payable to a dependent child when an employee dies in a work-related accident under workers' compensation?
• Which of the following injuries occurring on the job is typically NOT deemed compensable?
• What is the maximum number of days an Oklahoma Property and Casualty insurer has to accept or reject a first-party claim?
• Which of the following injuries may not qualify for workers' compensation benefits?
• What considerations are important in determining "replacement cost"?
• Which entity regulates insurance adjusters in Oklahoma?
• What is the purpose of continuing education for insurance adjusters in Oklahoma?
• Why are various work classifications used in the calculation of workers' compensation premiums?
• Who is responsible for administering the workers' compensation laws in Oklahoma?
• Which of the following is NOT a factor in determining reserves for a workers' compensation claim?
• What is the significance of the "deductible" in an insurance policy?
• What type of insurance covers legal expenses associated with defending against lawsuits?
• What factors influence the outcome of a claim adjustment?
• What is characterized as an "act of God" in insurance terms?
• Which reserves are used to cover the expenses related to Independent Medical Examinations (IMEs) in workers' compensation?
• What does Part One of a standard workers' compensation policy outline?
• How long must an applicant wait to retake the state licensing exam after failing it twice in Oklahoma?
• What powers does the Oklahoma Insurance Commissioner possess during hearings?
• What is the time frame within which a licensed agent must return their insurance license after terminating residency in Oklahoma?
• What is true about Independent Medical Examinations (IMEs) in the context of workers' compensation claims?
• In Oklahoma, employers must have which minimum payroll for agricultural workers to be included under workers' compensation coverage?
• Which type of risk is characterized by events with a certain degree of unpredictability?
• Which of the following statements about Workers' Compensation (WC) is correct?
• In which scenario is an adjuster most likely to encounter third-party claims?
• Oklahoma licensees must inform the commissioner if a change of address occurs within what timeframe?
• After having an insurance license revoked, what crime is committed by acting as a licensee in Oklahoma?
• What is the role of a claims adjuster during an investigation?
• How does the "risk assessment" process impact insurance underwriting?
• Which entity issues written permission to extend an insurance binder beyond 90 days in Oklahoma?
• Under Oklahoma law, what is the time frame for acceptance or denial of a claim by an insurer?
• In terms of controlling claims costs, what does "managed care" usually involve in Workers' Compensation?
• How long is the waiting period for TTD benefits in Mark's case?
• What statement must be included on the Declarations page of an insurance policy issued by a surplus lines company in Oklahoma?
• What is the importance of adjusting reserves in claims management?
• Which classification of disability is most likely to provide vocational rehabilitation services under workers' compensation?
• What distinguishes a staff adjuster from an independent adjuster?
• What does "underwriting" involve in insurance?
• Which of the following is a key feature of Workers' Compensation insurance?
• What does "tort" mean within the insurance framework?
• Which of the following is an obligation of the employer under workers' compensation regulations?
• Which of the following is NOT covered by the Federal Employee’s Compensation Act (FECA)?
• What could lead to a claim being "denied"?
• What is the statute of limitations for filing most insurance claims in Oklahoma?
• What type of contract makes the insurer the only legally bound party to perform?
• What is "mediation" in the context of insurance disputes?
• How can an insurer manage potential losses more effectively?
• What does the term "liability insurance" primarily cover?
• What is required of alien and foreign insurers regarding examinations in Oklahoma?
• For how long must a licensee keep customary records of authorized transactions at their place of business in Oklahoma?
• What must an insurer do regarding proof of loss in a property loss situation with a 60-day requirement?
• When is the deadline for renewing an insurer's certificate of authority in Oklahoma?
• What is a general summary of a policy called?
• What percentage does the state provide as TTD benefit?
• Under Oklahoma Workers' Compensation, vocational rehabilitation services will not extend for a period longer than:
• What are "statutory requirements" for adjusters in Oklahoma?
• What does 'Maximum Medical Improvement' (MMI) refer to in workers' compensation?
• To protect volunteers cooking at special events, what should a church add to its workers' compensation policy?
• For how long can an apprentice adjuster in Oklahoma operate under supervision without having a license?
• What does "experience rating" encourage employers to do?
• What is Mark's average weekly wage if he works 40 hours a week at $20 per hour?
• What is required of an insurer regarding proof of loss for a property loss that specifies it must be submitted within 60 days?
• What does 'occurrence' refer to in insurance terms?
• What is a primary objective of Workers' Compensation insurance?
• Under what condition can a licensed adjuster in Oklahoma conduct business?
• Which factor is not typically considered a component of static risk?
• Estoppel is best exemplified by which of the following?
• What moral hazard can result from overinsurance?
• Which of the following is a statement that is guaranteed to be the truth throughout the duration of the policy?
• What is the primary purpose of the Workers' Compensation insurance program?
• What type of insurance covers employees for any injury incurred in the course of employment?
• Which of the following best explains why insurance policies are called "unilateral contracts"?
• The ultimate goal of a workers' compensation adjuster when working with the treating physician is to achieve what?
• What kinds of misconduct might lead to disciplinary action against an adjuster?
• What is described as an "exclusion" in an insurance policy?
• What does "proof of loss" mean?
• What is the minimum number of ethics hours required for Ollie to meet his continuing education requirements?
• According to the Jones Act, how can a seaman's negligence affect their claim against an employer?
• When is an insured allowed to assign their insurance policy to another party?
• Employers are responsible for making additional payments to injured workers in all cases EXCEPT:
• To receive workers' compensation benefits, an employee's occupational disease must be...
• In order for a liability policy to cover a claim, who must be legally liable?
• How many hours of continuing education are specifically required for state or federal legislative updates?
• In what scenario would an adjuster commonly reassess reserves?
• How long are benefits paid to a worker with a permanent total disability from a work-related accident?
• Which factors are essential to calculate the estimated annual premium in a Workers' Compensation insurance policy?
• Which type of claims are generally not covered by Workers' Compensation policies?
• In the context of insurance, which term describes the act of determining blame after a loss?
• What are "supplemental claims"?
• What does "aggregate limit" refer to in an insurance policy?
• Which of the following is NOT true regarding the licensing requirements for adjusters in Oklahoma?
• What is the primary purpose of an insurance adjuster?
• According to Oklahoma workers' compensation laws, which group is excluded from employee classification?
• What is the primary benefit of "umbrella insurance"?
• When is an employer required by law to report job-related injuries that resulted in loss of time beyond the shift when the injury occurred?
• When can a licensee have their license returned after a felony conviction in Oklahoma?
• Which of the following is NOT a common method for controlling medical costs of Workers' Compensation claims?
• What are the consequences of insurance fraud?
• What role does the National Insurance Producer Registry play?
• How many hours of continuing education in the subject of ethics are required for Oklahoma adjusters every 24 months?
• What is the process called when a contract dispute is resolved by an objective third party?
• What is the administrative fee required to notify the Commissioner of a change of legal name or address?
• Which claim type would involve assessing damages to a vehicle?
• What does "coverage limit" mean in insurance policies?
• What must an insurer in Oklahoma do if it takes adverse actions based on credit information?
• In the insurance industry, which term refers to continuous or repeated exposure to conditions that may result in bodily injury or property damage?
• In Oklahoma, how long does an insured have to submit a required proof of loss statement?
• What is the primary purpose of an "other insurance" clause in insurance policies?
• Which situation would NOT be classified as an injury arising out of and in the course of employment?
• Which of the following is NOT one of the four elements of a negligent act?
• Which of the following is NOT a factor in reserving of a Workers' Compensation claim?
• If an employee is temporarily on business in France, will their claim be covered under Part Two - Employer's Liability?
• What does the "AMA Guide to Evaluation of Permanent Impairment" provide?
• Which of the following is a critical element necessary for forming a valid insurance contract?
• What is the role of the Oklahoma Insurance Department?
• What may happen to an adjuster who fails to comply with the continuing education requirements in Oklahoma?
• What does "appraisal" mean in the context of insurance claims?
• Which factor is vital in distinguishing between employee-employer and independent contractor relationships?
• Which of the following is NOT a valid reason for canceling or nonrenewing a Homeowner's policy after 45 days in Oklahoma?
• What does "actual cash value" (ACV) represent?
• In Oklahoma, what information is required for an employee to receive medical benefits after a work-related injury?
• Who primarily regulates the insurance industry in the United States?
• Which factor is NOT considered when estimating the annual premium for a WC policy?
• What type of coverage does "Other States Insurance" provide in a Workers' Compensation policy?
• Which of the following constitutes "general damages" that may be awarded to a plaintiff in a negligence case?
• What does "liability insurance" cover?
• What is the ideal outcome of the mediation process in insurance disputes?
• How many days' notice must be provided when the Oklahoma Insurance Commissioner calls a hearing regarding unfair trade practices?
• What does part one of the NCCI standard Workers' Compensation policy specify?
• What does "premium" refer to in insurance?
• Which of the following is generally considered NOT a legal defense against claims of negligence?
• What is a "claims adjuster’s report"?
• If an employer fails to provide medical treatment within a certain timeframe after learning of an employee's injury, what can that employee do?
• Which of the following statements is NOT true regarding the Federal Employers Liability Act (FELA)?
• Which of the following is not true regarding the Oklahoma continuing education program?
• What distinguishes a first-party claim from a third-party claim?
• How can an adjuster ensure ethical conduct during the claims process?
• When evaluating a permanent impairment, what should physicians reference according to the AMA guidelines?
• How does an adjuster typically assess damage to a property?
• What is "evaluative claims adjusting"?
• What documentation is essential for a successful claim adjustment?
• What aspect of an insurance policy addresses reimbursement from a responsible third party?
• How long does Sooners insurance company have to mail a medical report to a treating physician after a request?
• How often is the Oklahoma insurance commissioner required to examine domestic insurers?
• Part one of the standard workers' compensation policy describes what?
• Mark earns $20 per hour and typically works 40 hours a week. If injured, what would be his TTD benefit amount for 50 days?
• What is an important characteristic of the findings from an Independent Medical Examination (IME)?
• A worker can be disqualified from receiving compensation if which of the following occurs?
• How is the "valuation" of a loss typically determined in an insurance claim?
• What is the standard duration before an adjuster must complete their continuing education requirements in Oklahoma?
• What principle underlies the duty of care in a liability claim?
• Which of the following is NOT a key component of a valid insurance contract?
• Which party must be notified about a name or address change within 30 days?
• In the context of workers' compensation, how is the loss of a finger classified?
• What must all employers provide under Workers' Compensation regulations?
• What does "process of law" relate to in insurance claims?
• What method does the standard NCCI's Workers' Compensation policy specify for handling claims payment when multiple insurances are involved?
• What is the purpose of continuing education for Oklahoma adjusters?
• In a monopolistic state for workers' compensation coverage, employers are required to do what?
• Which types of insurance claims are typically handled by adjusters?
• When does an insurer receive notice of a claim in relation to Workers' Compensation insurance?
• What is typically included in the duties of the insurer as described in workers' compensation policies?
• If an employee has sustained a permanent total disability in a work-related incident, what percentage of his average weekly wage is paid?
• What is the consequence if proof of loss is not tendered within the specified time frame as stated in an insurance policy?
• What is an adjuster's primary responsibility during the claims process?
• Which statement is NOT true regarding an injured employee's rights to select a physician in Oklahoma?
• Within what time frame must an adjuster licensed in his home state apply for an Oklahoma resident adjuster license after establishing legal residence?
• How many total hours of continuing education must Ollie complete to renew his insurance license?
• What type of claims involve property, liability, and workers' compensation?
• How many days do Oklahoma licensees have to notify the Commissioner of a change of address?
• Which of the following statements is true regarding job-related accidents?
• What is the timeframe within which an agent must respond to an inquiry from the Oklahoma Insurance Commissioner regarding a claim?
• What benefit is paid to the surviving spouse of an employee who has died in a work-related accident and then remarries?
• How would you best describe a competitive state when it comes to workers' compensation coverage?
• In the case of Anna and Ulysses, which element was critical to the court's decision?
• Which of the following is excluded from coverage under the Oklahoma Workers' Compensation Act?
• What are "personal injury" claims?
• What is the primary condition for determining if an injury or illness is compensable under a workers' compensation policy?
• Which of the following is inaccurate regarding a graduate apprentice adjuster's license in Oklahoma?
• If an insurance binder is issued in Oklahoma for a 90-day period, what must occur to extend it beyond that period?
• What elements are required to prove negligence in a liability claim?
• A 100-year flood is an example of which of the following types of risk?
• What is one way adjusters can add value to the claims process?
• What does the waiting period typically involve in workers' compensation claims in Oklahoma?
• What is "coverage by endorsement"?