An insurance agent, acting as afield underwriter, is responsible forcompleting applications accuratelyandcollecting initial premiums, ensuring the information provided is truthful and complete for the insurer’s underwriting process, as per Oklahoma’s regulations (Title 36 O.S. § 1435.2). Setting premiums, accepting/declining applications, and issuing policies are duties of the insurer’s underwriting department, not the agent.
Option A: Incorrect. Setting premiums is the insurer’s responsibility, not the agent’s.
Option B: Correct. Agents complete applications and collect initial premiums as part of field underwriting.
Option C: Incorrect. Declining or accepting applications is done by the insurer’s underwriters.
Option D: Incorrect. Issuing policies is the insurer’s role, not the agent’s.
[:, Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: General Knowledge – Underwriting)., Oklahoma Insurance Department, Title 36 O.S. § 1435.2 (producer responsibilities)., Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing., ]
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