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Oklahoma Property Practice Exam

20 exam-style questions drawn from the same bank as our full Oklahoma Property course (Oklahoma Insurance Producer - Property - Exam Prep). Answer all 20, then grade yourself — most state exams require 70% to pass. Explanations for every question are part of the full course.

1. A homeowner comes home to find a burst pipe has flooded the kitchen. Which of the following is NOT an insured duty after loss under a standard ISO homeowners policy?
Protect the property from further damage, making reasonable and necessary temporary repairsCooperate with the insurer's investigation, including submitting to a sworn examination under oath if requiredIndependently hire a contractor and complete permanent repairs before the insurer can inspectGive prompt notice to the insurance company or its agent
2. In January, a homeowner sells a rental house to a new buyer but does not cancel her existing homeowners policy on the property. In March, while the policy is still technically in force, a fire destroys the house. The buyer failed to arrange his own coverage. Can the former owner collect under her policy?
Yes, in property insurance insurable interest only has to exist at policy inception, and she owned the house when the policy was written.No, a property policy automatically terminates the moment the property is sold, so there was no policy in force on the date of loss.No, in property insurance, insurable interest must exist at the time of loss, and she no longer had a financial stake in the house.Yes, she paid the premium and the policy was in force on the date of the loss, so the insurer must pay her claim in full.
3. Which of the following is NOT a standard post-loss duty of the insured?
Give prompt notice of the loss to the insurer.Accept the first settlement offer without negotiation.Protect the property from further damage after loss.Cooperate with the insurer's investigation of the loss.
4. After a covered loss, the insured's duties typically include all of the following EXCEPT:
Give prompt notice to the insurerProtect property from further damageProvide a sworn proof of loss within the time requiredPay the third-party claimant directly
5. Under most states' laws, an insurance producer who receives a signed application but does not promptly submit it to the carrier, causing a loss to go uninsured, may be liable under which theory?
Criminal fraud, since failing to submit an application is always intentional.No theory, because producers owe no duty to submit applications promptly.Negligence (errors and omissions); the producer owed a duty of reasonable care.Strict liability; the producer is liable without any showing of fault.
6. A homeowner adds the 'Personal Injury' endorsement (HO 24 82) to their HO-3. This endorsement broadens Coverage E to include damages for:
Libel, slander, defamation, false arrest, malicious prosecution, and wrongful evictionProperty damage to the insured's own house and contents, paid in addition to the Coverage A limitCar accidents the insured causes while driving a personal auto, including injury to othersBodily injury to resident family members of the household, including the insured's spouse and children
7. How does Oklahoma select its Insurance Commissioner?
The Commissioner is elected by the admitted insurersThe Commissioner is elected statewideThe Commissioner is appointed by the GovernorThe Commissioner is appointed by the Legislature
8. A thief picks the lock on a warehouse door at night and takes inventory without any signs of forcible entry. Under typical commercial crime policy definitions, is this BURGLARY?
No, burglary requires VISIBLE signs of forcible entry or exit.Yes, any unlawful taking from a building is burglary.Yes, burglary is defined as any theft committed at night.No, burglary requires a direct confrontation with a person.
9. Replacement cost coverage on real property requires the insured to:
Carry coverage equal to a stated percentage of full replacement cost (typically 80%)Elect a stated value option on the declarations page that caps recovery at a pre-agreed amountSchedule each item of real property individually on the declarations with an agreed valuePay no deductible on any covered partial loss, so the full replacement cost is recovered
10. A commercial building has a replacement cost of $500,000 at the time of loss. The policy carries an 80% coinsurance clause, a policy limit of $300,000, and a $1,000 deductible. A covered fire causes $100,000 of damage. How much does the insurer pay?
$99,000$75,000$100,000$74,000
11. A court is asked to interpret an ambiguously worded exclusion in a homeowners policy. Under the doctrine of contra proferentem, the ambiguity is resolved in favor of the insured. Which distinctive characteristic of insurance contracts produces this rule?
ConditionalAdhesionUnilateralAleatory
12. Under the Gramm-Leach-Bliley Act (GLBA), which notice must an insurer provide to customers at the beginning of the relationship and annually thereafter (when the annual-notice exception does not apply)?
A Medical Loss Ratio disclosure required under the federal Affordable Care Act for health insurance issuers, a healthcare-specific filing unrelated to the GLBA financial-privacy notice framework on the P&C sideA Privacy Notice describing categories of information collected, how it is used, and the consumer's opt-out rights for sharing with nonaffiliated third partiesA Summary Annual Report of the insurance carrier's audited financial condition, a solvency-disclosure document that has no application to the GLBA financial-privacy notice obligation owed to consumersA free annual consumer credit report voucher delivered to the insured under FCRA at the start of every annual policy term, a benefit not actually provided under GLBA at all and not delivered at policy issuance
13. Under 36 O.S. 3629(B), when is the INSURER the prevailing party for the purposes of costs and attorney fees?
Where the judgment does not exceed the insurer's written offer of settlementWhere the court finds the insured's proof of loss was incompleteWhere the insurer made any written offer at all within the sixty daysWhere the insured recovers less than seventy-five percent of the amount claimed
14. Which commercial property additional coverage typically pays the cost to upgrade a damaged building to current building codes?
Preservation of PropertyOrdinance or LawDebris RemovalPollutant Cleanup and Removal
15. Personal liability coverage under a dwelling form is:
Available only by endorsement (Personal Liability Supplement)Built into all three dwelling forms at a basic limitBuilt into the DP-3 only, as part of its open-perils coverageAutomatically provided in an amount equal to Coverage A
16. A Motor Truck Cargo policy covers:
Injury to drivers operating the truck on public highways, including medical expenses, lost wages, and disability benefitsThe trucker's legal liability for damage to property of others that the trucker is transportingThe trucker's business income loss when a load is delayed, rerouted, or held up at a weigh station or border crossingThe trucker's own tractor and trailer against collision damage, overturn, and other physical damage perils on the road
17. Under 36 O.S. 2103, a mutual insurer is best described as:
An unincorporated association of policyholders sharing losses by assessmentA reciprocal exchange managed by an attorney-in-fact for its subscribersAn incorporated insurer with capital divided into shares, owned by its shareholdersAn incorporated insurer without capital stock or shares, owned by its policyholders
18. Which of these is EXCLUDED from the Oklahoma Property and Casualty Insurance Guaranty Association under 36 O.S. 2003?
Personal automobile liabilityInland marine insuranceCommercial general liabilityOcean marine insurance
19. What criminal penalty does 36 O.S. 1435.15 attach, and how does it compare with the civil fine under 36 O.S. 1435.13?
A fine of not more than $5,000 with no imprisonment, against a civil fine of not more than $1,000 per occurrenceA fine of not more than $500 with 6 to 12 months in the county jail, against a civil fine of not more than $1,000 per occurrenceNo criminal penalty at all, leaving the $1,000 civil fine as the only sanctionA fine of not more than $1,000 with 6 to 12 months in the county jail, against a civil fine of not more than $500 per occurrence
20. A warranty in an insurance contract is:
A promise by the insurer to repair or replace damaged property with materials of like kind and quality.A statement guaranteed by the insured to be literally true; breach permits the insurer to void coverage.A statement the insured believes to be true; only an intentionally false one allows the insurer to void it.A consumer-protection guarantee imposed by the state that the policy's coverage terms meet minimum standards.

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