Life, Accident And Health Insurance Ohio Exam Questions
LIFE, ACCIDENT AND HEALTH INSURANCE OHIO EXAM QUESTIONS Which statement BEST describes the tax responsibilities under a Business Overhead policy? a. Premiums are deductible, benefits are deductible. b. Premiums are deductible, benefits are taxed. c. Premiums are not deductible, expenses are deductible. d. Premiums are not deductible, benefits are taxed. - CORRECT ANSWER -Premiums are deductible, benefits are taxed The Group Insurance provision that prevents two insurers from paying more than the actual loss is called the... a. Coordination of Benefits. b. Over Insurance clause. c. Over-insurance clause. d. Pro rata liability. - CORRECT ANSWER -Coordination of Benefits (COD) - they could have a primary and secondary insurance but they won't pay out more than the total loss. In which type of insurance company may stockholders share in the profits and losses of the insurer? a. assessment b. mutual c. service d. stock - CORRECT ANSWER -Stock. Whenever the insurance company has an increase in profits, the Board of Directors may increase the dividend payment from the prior year so the stockholders share in the increased profits.
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- Subido en
- 1 de junio de 2024
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