Under Oklahoma’s Insurance Code (Title 36 O.S. § 1435.13), transacting insurance without a valid license, such as after revocation, is afelonypunishable by a fine of up to $5,000, imprisonment for up to 7 years, or both, depending on the severity and intent. This reflects the serious nature of unlicensed insurance activity.
Option A: Incorrect. The fine limit is $5,000 for a felony, not $10,000.
Option B: Correct. The violation is a felony with a fine up to $5,000.
Option C: Incorrect. The violation is a felony, not a misdemeanor, with higher penalties.
Option D: Incorrect. Imprisonment is up to 7 years, not 10 years.
[:, Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: State-Specific Knowledge – Oklahoma Insurance Statutes)., Oklahoma Insurance Department, Title 36 O.S. § 1435.13 (penalties for unlicensed activity)., Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing., ]
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