Oklahoma Life & Health Insurance License Exam Overview
The Oklahoma Life & Health Insurance License Exam is administered by PSI on behalf of the Oklahoma Insurance Department (OID). Oklahoma offers tremendous opportunities for insurance professionals, with a growing economy, affordable licensing costs, and strong demand for health and life insurance products.
With no pre-licensing education requirement and low exam fees, Oklahoma provides one of the most cost-effective paths to becoming a licensed insurance professional. The state's central location also makes it an excellent base for building a regional insurance practice.
Exam Format at a Glance
| Component | Details |
|---|---|
| Total Questions | 150 questions (112 General + 38 State) |
| Time Limit | 210 minutes (158 min General + 52 min State) |
| Passing Score | 70% on each section |
| Testing Vendor | PSI |
| Exam Fee | $41 |
| Pre-licensing Education | Not required |
| Exam Format | Computer-based, multiple-choice |
Important: Oklahoma's exam has two sections (General and State), and you must pass both with a 70% score. The General section covers national insurance concepts, while the State section focuses on Oklahoma-specific laws and regulations.
Why Get Licensed in Oklahoma?
- Growing Oklahoma City metro — Healthcare, energy, and aerospace industries driving growth
- No pre-licensing requirement — Start studying immediately without completing education courses
- Low exam fees — Only $41 to take the combined Life, Accident & Health exam
- Low cost of living — More competitive advantage for building your practice
- Central location — Easy access to Texas, Kansas, Arkansas, and Missouri markets
- Energy sector — Oil and gas workers need comprehensive insurance coverage
- SoonerSelect managed care — New 2024 Medicaid delivery system creates opportunities
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Ready to begin studying? Our comprehensive, completely free Oklahoma Life & Health exam prep covers everything you need to pass.
Key Topics Covered on the Exam
1. Life Insurance Fundamentals (30-35%)
Types of Life Insurance:
- Term Life Insurance (level, decreasing, renewable, convertible, return of premium)
- Whole Life Insurance (traditional, limited pay, modified, single premium)
- Universal Life Insurance (fixed, indexed, variable)
- Variable Life Insurance (requires securities license)
- Group Life Insurance
Oklahoma Policy Provisions:
| Provision | Oklahoma Standard |
|---|---|
| Grace Period | 31 days |
| Incontestability Period | 2 years |
| Suicide Clause | 2 years |
| Free Look Period | 10 days (20 days for replacements) |
| Misstatement of Age | Adjusted benefits |
| Reinstatement | 3 years |
2. Health Insurance Fundamentals (30-35%)
Major Medical Coverage:
- Deductibles, copays, coinsurance
- Out-of-pocket maximums
- Network types (HMO, PPO, EPO, POS)
- Essential health benefits under ACA
Oklahoma Health Programs:
- Healthcare.gov — Oklahoma uses the federal marketplace for ACA individual/family plans
- SoonerCare (Medicaid) — Oklahoma's Medicaid program for eligible low-income residents
- SoonerSelect — New managed care delivery system launched April 2024
- CHIP — Children's Health Insurance Program for children in families up to 210% FPL
- Insure Oklahoma — Premium assistance for small employers and employees
Disability and Long-Term Care:
- Short-term and long-term disability insurance
- Long-term care insurance (8-hour initial certification required)
- Long-term care partnership programs
- Oklahoma LTC refresher course (4 hours)
3. Annuities (15-20%)
- Fixed annuities (traditional, indexed)
- Variable annuities (requires FINRA Series 6 or 7)
- Immediate vs. deferred annuities
- Accumulation and annuitization phases
- Surrender charges and free withdrawal provisions
- Oklahoma annuity suitability requirements
4. Oklahoma Insurance Code (15-20%)
Governing Law: Oklahoma Statutes Title 36 governs all insurance activities in the state. Key sections include:
- §36-101 through §36-102: Short title and definitions
- §36-1250.7: Property and casualty claim handling
- §36-4003 and §36-4204: Grace period provisions
- §36-5124: Rules and regulations authority
Key Regulatory Topics:
- Unfair trade practices and unfair claims practices
- Replacement regulations
- Advertising guidelines
- Privacy requirements
- Anti-discrimination rules
- Prompt payment of claims
- Fiduciary responsibilities
Licensing Requirements:
| Requirement | Details |
|---|---|
| Pre-licensing Education | Not required |
| Background Check | Criminal history check |
| License Application | Through NIPR or OID website |
| Application Fee | Varies by license type |
| Renewal | Last day of birth month every 2 years |
5. Ethics and Producer Responsibilities (10-15%)
- Fiduciary duty to clients
- Needs analysis and suitability determinations
- Disclosure requirements
- Premium handling and trust accounts
- Reporting misconduct
- Client confidentiality
- Continuing education obligations
🎯 Free Practice Questions Available
Test your knowledge with hundreds of free practice questions designed specifically for the Oklahoma Life & Health exam.
Study Timeline for Success
| Week | Focus Area | Hours |
|---|---|---|
| Week 1 | Life insurance products and provisions | 10-12 |
| Week 2 | Health insurance products and SoonerCare | 10-12 |
| Week 3 | Annuities and retirement products | 8-10 |
| Week 4 | Oklahoma Title 36 regulations and ethics | 10-12 |
| Week 5 | Practice exams and review | 10-15 |
Total recommended study time: 50-60 hours
Since Oklahoma does not require pre-licensing education, you can begin self-study immediately. The PSI Candidate Information Bulletin (CIB) provides the Examination Content Outline (ECO) on page 9.
Oklahoma-Specific Exam Tips
1. Know Oklahoma Statutes Title 36
The State section heavily tests Oklahoma-specific regulations:
- §36-4003 — Grace period for life insurance (31 days)
- §36-4204 — Grace period for health insurance
- §36-1250.7 — Claim handling requirements
- Unfair trade practices — Know what's prohibited
2. Master These Oklahoma Numbers
| Topic | Number to Remember |
|---|---|
| Grace period (life) | 31 days |
| Free look (standard) | 10 days |
| Free look (replacement) | 20 days |
| Incontestability | 2 years |
| Suicide clause | 2 years |
| CE requirement | 24 hours/2 years |
| Passing score | 70% each section |
| Exam fee | $41 |
3. Understand Oklahoma Health Programs
Know the differences between:
- Healthcare.gov — Federal marketplace for ACA plans
- SoonerCare — Oklahoma's Medicaid program
- SoonerSelect — Managed care plans for SoonerCare members (2024)
- CHIP — Children up to 210% FPL
- Insure Oklahoma — Small employer premium assistance
4. Two-Section Exam Strategy
Remember that Oklahoma uses a two-part exam:
- General Section (112 questions, 158 minutes) — National insurance concepts
- State Section (38 questions, 52 minutes) — Oklahoma-specific laws
You must pass BOTH sections with 70% to pass the exam.
Scheduling and Taking the Exam
How to Register:
- Online: PSI Exams
- Phone: (833) 333-4754
Testing Options:
- In-Person: PSI testing centers throughout Oklahoma
- Online Proctored: Take from home with webcam and stable internet
What to Bring:
- Valid government-issued photo ID (driver's license, passport, military ID)
- Your name must match exactly as it appears on your ID
- Arrive 30 minutes early for security checks
Exam Policies:
- All testing sessions are video and audio recorded
- No personal items in testing area
- Cannot leave during the exam
Common Mistakes to Avoid
- Treating it as one exam — Remember you must pass BOTH sections
- Ignoring Oklahoma-specific laws — The State section is 38 questions
- Confusing SoonerCare with Medicare — Know the differences
- Skipping annuity suitability — Oklahoma follows NAIC model regulations
- Not managing time — 210 total minutes must be divided wisely
- Cramming — Spread study over 4-5 weeks for best retention
After Passing Your Exam
- Apply for license — Through NIPR or OID Licensing Portal
- Complete background check — Criminal history verification
- Pay license fees — Varies by license type
- Receive your license — Once approved by OID
- Affiliate with an insurer — Contract with insurance companies
- Begin selling — Cannot work until license is issued
Important: You may NOT work in the insurance industry until your license has been issued. Passing the exam alone does not authorize you to sell insurance.
Continuing Education Requirements
To maintain your Oklahoma insurance license:
| Requirement | Details |
|---|---|
| CE Hours | 24 hours every 2 years |
| Ethics Requirement | Included in 24 hours |
| Long-Term Care | 8-hour initial + 4-hour refresher |
| Renewal Deadline | Last day of birth month (biennial) |
| CE for Nonresidents | Meet home state requirements |
License Renewal: Agents holding a Major Lines license (Life or Accident & Health) must renew by the last day of their birth month every two years.
2026 Oklahoma Updates
For 2026, be aware of:
- SoonerSelect — Medicaid managed care delivery system (launched April 2024)
- Pregnant women coverage up to 210% FPL (expanded from 138%)
- 12-month postpartum coverage (extended from 60 days)
- Updated telehealth coverage requirements
- PSI remains the exam vendor
- Electronic CE reporting through OID
Contact Information
Oklahoma Insurance Department:
- Address: 3625 NW 56th Street, Ste 100, Oklahoma City, OK 73112
- Phone: (405) 521-3916
- Email: [email protected]
- Website: www.oid.ok.gov
- Licensing Portal: www.licensing.oid.ok.gov
PSI Exam Registration:
- Website: test-takers.psiexams.com/okins
- Phone: (833) 333-4754
Start Your Oklahoma Insurance Career Today
Oklahoma offers an affordable and accessible path to insurance licensing with no pre-licensing education requirements and low exam fees. With proper preparation, you can pass the exam on your first attempt and begin serving the insurance needs of Oklahoma residents.
Our free study materials include:
- ✅ Complete topic coverage
- ✅ Practice questions with explanations
- ✅ Oklahoma-specific regulations
- ✅ Study guides and summaries
- ✅ AI-powered study assistance
Don't pay for expensive prep courses when everything you need is available FREE.