Selling fake insurance policies and misappropriating premiums is a fraudulent act under Oklahoma’s Insurance Code (Title 36 O.S. § 1204, § 1435.13), classified as a felony. TheOklahoma Insurance Department Anti-Fraud Unitinvestigates insurance fraud, theOklahoma State Bureau of Investigationhandles criminal investigations, and theOklahoma Attorney Generalmay prosecute or oversee legal actions. TheSecurities Exchange Commission (SEC)regulates securities markets, not insurance fraud, unless securities are involved (which is not indicated here).
Option A: Incorrect. The Attorney General may be involved in prosecution.
Option B: Incorrect. The State Bureau of Investigation handles criminal fraud cases.
Option C: Incorrect. The Anti-Fraud Unit directly investigates insurance fraud.
Option D: Correct. The SEC is not typically involved in insurance fraud investigations.
[:, 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. § 1204, § 1435.13 (fraud and penalties)., Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing., ]
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