Oklahoma insurance law requires licensed insurance producers to maintain records of insurance transactions for a minimum of5 years, as specified in Title 36 O.S. § 1435.13. This ensures compliance with regulatory oversight and allows for audits or investigations by the Oklahoma Insurance Department.
Option A: Incorrect. 3 years is insufficient per Oklahoma law.
Option B: Correct. Licensees must keep records for 5 years.
Option C: Incorrect. 7 years exceeds the requirement.
Option D: Incorrect. 10 years is not mandated by Oklahoma insurance regulations.
This question falls under the Prometric content outline section on “State Insurance Statutes, Rules, and Regulations,” which includes recordkeeping requirements.
[:, Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: State-Specific Knowledge – Licensing Requirements)., Oklahoma Insurance Department, Title 36 O.S. § 1435.13 (producer recordkeeping)., Standard insurance study guides (e.g., Kaplan, ExamFX) for Oklahoma producer licensing., ]
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