Free Oregon Life & Annuities Insurance Practice Exam 2
Prepare for your licensing exam with our realistic state-specific test questions, complete answers, and detailed rationales.
Exam Structure & Overview
Passing the Oregon insurance exam is the ultimate step toward launching your career as a licensed professional. This practice test consists of 25 high-probability questions sampled to match the general composition of topics tested on the real state licensing examination.
Whether you are preparing for the Life & Annuities lines or a combined license, practicing with mock questions helps cement concepts, improves time management, and reduces test-day anxiety.
Key Practice Focus Areas
- State Laws & Regulations: Specific rules, licensing duties, and consumer protections.
- Policy Provisions & Options: Standard contract clauses, riders, exclusions, and riders.
- General Principles: Underwriting basics, insurance concepts, and legal requirements.
Recommended Study PathTry this practice exam fully. Review each explanation carefully when an answer is submitted. If you feel ready to unlock the full comprehensive question database, visit the main state hub for deeper exam simulations.
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Test 225 Questions
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Life InsuranceRiders & Provisions
What is a Viatical Settlement?
General InsuranceBasic Principles
The Law of Large Numbers helps an insurer to:
AnnuitiesTypes & Payout Options
Which party to an annuity contract is the person whose life expectancy is used to calculate the income payments?
OR Insurance Law & EthicsOR Guaranty Act & Consumer Protection
Under Oregon law, the grace period for a life insurance policy with monthly premium payments is:
AnnuitiesTypes & Payout Options
An annuity that does not start making payments until some point in the future (more than one year after purchase) is a(n):
OR Insurance Law & EthicsOregon Insurance Code & Unfair Practices
If an insurer fails to pay a claim promptly in Oregon, the insurer may owe the claimant an additional penalty of:
General InsuranceBasic Principles
In insurance, the proximate cause of a loss refers to:
OR Insurance Law & EthicsOR Guaranty Act & Consumer Protection
The maximum health insurance benefit coverage provided by the TLHIGA per individual is:
OR Insurance Law & EthicsLicensing & Conduct
In Oregon, a temporary insurance license may be issued for a period not to exceed:
Life InsurancePremiums & Taxes
What is the primary tax advantage of an executive bonus plan?
Life InsurancePremiums & Taxes
How are premiums for an individual life insurance policy generally treated for tax purposes?
Life InsuranceBeneficiaries
The facility of payment clause, often found in industrial or group life policies, allows the insurer to:
Life InsuranceRiders & Provisions
Which rider allows the policyowner to purchase additional amounts of insurance at future dates without evidence of insurability?
Life InsuranceSocial Security (OASDI)
To qualify for Social Security Disability Insurance (SSDI) benefits a worker must meet which of the following conditions?
General InsuranceInsurance Marketplace
What distinguishes a mutual insurance company from a stock insurance company?
OR Insurance Law & EthicsLicensing & Conduct
Which of the following individuals is exempt from the Oregon agent licensing requirement?
Life InsurancePremiums & Taxes
Dividends received from a participating life insurance policy are:
General InsuranceBasic Principles
Which element is NOT required for a risk to be considered insurable?
AnnuitiesTypes & Payout Options
An annuity that credits interest based on the performance of a stock market index, but guarantees the principal, is a(n):
Life InsurancePremiums & Taxes
What is the tax implication of an accelerated death benefit paid to a terminally ill insured?
Life InsuranceGroup Life Insurance
Group underwriting differs from individual underwriting primarily because the underwriter evaluates which of the following?
Life InsuranceBeneficiaries
John named his two children, Amy and Ben, as his primary beneficiaries on a per stirpes basis. Ben dies before John, leaving two children of his own (John's grandchildren). When John dies, who receives the death benefit?
Life InsuranceBeneficiaries
In Oregon, which is a community property state, what right does a spouse have regarding a life insurance policy purchased with community funds?
AnnuitiesTypes & Payout Options
Who is the party to an annuity contract that has all the rights, such as naming the beneficiary and making withdrawals?
Life InsuranceSocial Security (OASDI)