1. Exam Prep
  2. Oklahoma
  3. Personal Lines
  4. Insurance Regulation

Free Insurance Regulation Practice Questions

Oklahoma Personal Lines exam — 24 practice questions.

Subtopics: Tort system, Minimum auto limits, UM requirement, Comparative negligence, Financial responsibility, Workers compensation market, Guaranty association, Elected commissioner, Cancellation notice, Proof of insurance, License line, Unfair claims practices, Rate regulation, Residual market, Compulsory insurance, Insurance fraud, Fair Credit Reporting Act, Gramm-Leach-Bliley, Fraud and false statements, Do Not Call, Terrorism Risk Insurance Act, McCarran-Ferguson Act, Anti-money laundering, CAN-SPAM Act

Read the Insurance Regulation study guide

Sample questions & answers

1. Oklahoma's personal auto insurance system is best described as:

A traditional tort (at-fault) system in which the at-fault driver is liable for damages

Oklahoma is a traditional tort (at-fault) state, so the driver who is legally at fault is responsible for the resulting damages.

2. Oklahoma's compulsory auto liability minimum limits are commonly stated as (verify current figures):

25/50/25

Oklahoma's minimum auto liability limits are commonly cited as 25/50/25; verify the current statutory amounts.

3. On Oklahoma auto policies, uninsured motorist coverage generally must be:

Offered to the insured, who may reject it in writing

Oklahoma generally requires UM coverage to be offered, but the insured may reject it in writing.

4. Oklahoma allocates fault in liability claims under a modified comparative negligence rule, meaning a claimant:

May recover only if their share of fault does not exceed the statutory bar, commonly cited at 50 percent (verify)

Under modified comparative negligence, recovery is barred once the claimant's fault exceeds the statutory threshold, commonly cited at 50 percent; verify the current rule.

All Personal Lines topics

Practice: Insurance Regulation

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.