OHIO HEALTH AND LIFE INSURANCE EXAM SET 2025
QUESTIONS WITH ANSWERS GUARANTEE A+
✔✔An insured loses her left arm in an accident that is cover by her Accident Death and
Dismemberment policy. What benefit will she most likely receive from this policy? -
✔✔a) The capital amount in monthly installments
b) The principal amount in monthly installments
c) The capital amount in lump sum
d) The principal amount in lump sum
✔✔c) - ✔✔c)
✔✔All of the following are business uses of life insurance EXCEPT - ✔✔a) Funding
against financial loss caused by the death of a key employee
b) Funding business continuation agreements
c) Funding against general company financial loss
d) Compensating excecutives
✔✔c) - ✔✔c)
✔✔The insured under a $100,000 life insurance policy with a triple indemnity rider for
accidental death was killed in a car accident. It was determined that the accident was
his fault. The triple indemnity rider in the policy specifies that the death must not be
contributed to by the insured in any manner. In this case, what will the policy beneficiary
receive? - ✔✔a) $0
b) $50,000 (50% of the policy value)
c) $100,000
d) $300,000 (triple the amount of the policy value)
✔✔c) - ✔✔c)
✔✔An insured has a Modified Endowment Contract. He wants to withdraw some money
in order to pay medical bills. Which of the following is true? - ✔✔a) He will not have to
pay a penalty, regardless of his age
b) He cannot withdraw money from his MEC before age 59 1/2
c) He will have to pay a penalty if he is younger than 59 1/2
d) He will have to pay a penalty regardless of his age
✔✔c) - ✔✔c)
✔✔Which of the following is true about the requirements regarding HIV exams? - ✔✔a)
HIV exams may not be used as a basis for underwriting
b) The applicant must give prior informed written consent
c) Results may be disclosed to the agent and the underwriter
,d) Prior informed oral consent is required from the applicant
✔✔b) - ✔✔b)
✔✔Which of the following is true about the premium on the childrens rider in a lifetime
insurance policy? - ✔✔a) It decreased when the oldest child reaches the age of 21
b) It increased when a newborn baby is added to the policy
c) It decreases when an adopted child is added to the policy
d) It remains the same no matter how many children are added to the policy
✔✔d) - ✔✔d)
✔✔An insured carries health insurance with two different providers and is covered on
an expense incurred basis. He has an appendectomy and files the claims to both
insurers. Neither company is notified in advance that the insurer has other coverage.
What should each insurer pay? - ✔✔a) Only one should pay the full amount
b) Nothing. The insured lied about the dual nature of his coverage, so the insurers are
not responsible for covering the claims
c) The full amount
d) A proportionate amount
✔✔d) - ✔✔d)
✔✔J transferred his life insurance policy to his son two years before his death. Which of
the following is true? - ✔✔a) The unpaid premiums on the policy will be deducted from
J's taxable estate
b) Because the policy has been transferred, it will not be included in J's taxable estate
c) The entire face value of the policy will be included in J's taxable estate
d) The interest portion of the policy will be included in J's taxable estate.
✔✔c) - ✔✔c)
✔✔The death benefit under the Universal Life Option B - ✔✔a) Decreases by the
amount that the cash value increases
b) Increases for the first few years of the policy and then levels off
c) Remains level
d) Gradually increases each year by the amount that the cash value increases
✔✔d) - ✔✔d)
✔✔When a fixed annuity owner pays his/her insurance company a monthly annuity
premium, where is the money placed? - ✔✔a) Forwarded to an investor
b) Each contract's separate account
c) The annuity owners account
, d) The insurance company's general account
✔✔d) - ✔✔d)
✔✔Under which of the following employer-provided plans are the benefits taxable to an
employee in proportion to the amount of premium paid by the employer? - ✔✔a) Basic
Medical Expense
b) Disability income
c) Major Medical
d) Dental Expense
✔✔b) - ✔✔b)
✔✔The primary purpose of licensing is to - ✔✔a) Generate income for the insurance
department
b) Satisfy a federal requirement that all person involved in insurance to be licensed
c) Ensure high standards to the insuring public
d) None of the above
✔✔c) - ✔✔c)
✔✔How are contributions to tax-sheltered annuity treated with regards to taxation? -
✔✔a) They are taxed as income for the employee
b) They are taxed as income for the employee, but are tax free upon withdrawal
c) They are not included as income for the employee but are taxable upon distribution
d) They are never taxed
✔✔c) - ✔✔c)
✔✔The gatekeeper of an HMO helps - ✔✔a) Determine which doctors can participate in
an HMO plan
b) Control specialist costs
c) Determine who will be allowed to enroll in an HMO program
d) Prevent double coverage
✔✔b) - ✔✔b)
✔✔What is the shortest possible elimination period for group short-term disability
benefits provided by an employer? - ✔✔a) 0 days
b) 30 days
c) 60 days
d) 90 days
✔✔a) - ✔✔a)
QUESTIONS WITH ANSWERS GUARANTEE A+
✔✔An insured loses her left arm in an accident that is cover by her Accident Death and
Dismemberment policy. What benefit will she most likely receive from this policy? -
✔✔a) The capital amount in monthly installments
b) The principal amount in monthly installments
c) The capital amount in lump sum
d) The principal amount in lump sum
✔✔c) - ✔✔c)
✔✔All of the following are business uses of life insurance EXCEPT - ✔✔a) Funding
against financial loss caused by the death of a key employee
b) Funding business continuation agreements
c) Funding against general company financial loss
d) Compensating excecutives
✔✔c) - ✔✔c)
✔✔The insured under a $100,000 life insurance policy with a triple indemnity rider for
accidental death was killed in a car accident. It was determined that the accident was
his fault. The triple indemnity rider in the policy specifies that the death must not be
contributed to by the insured in any manner. In this case, what will the policy beneficiary
receive? - ✔✔a) $0
b) $50,000 (50% of the policy value)
c) $100,000
d) $300,000 (triple the amount of the policy value)
✔✔c) - ✔✔c)
✔✔An insured has a Modified Endowment Contract. He wants to withdraw some money
in order to pay medical bills. Which of the following is true? - ✔✔a) He will not have to
pay a penalty, regardless of his age
b) He cannot withdraw money from his MEC before age 59 1/2
c) He will have to pay a penalty if he is younger than 59 1/2
d) He will have to pay a penalty regardless of his age
✔✔c) - ✔✔c)
✔✔Which of the following is true about the requirements regarding HIV exams? - ✔✔a)
HIV exams may not be used as a basis for underwriting
b) The applicant must give prior informed written consent
c) Results may be disclosed to the agent and the underwriter
,d) Prior informed oral consent is required from the applicant
✔✔b) - ✔✔b)
✔✔Which of the following is true about the premium on the childrens rider in a lifetime
insurance policy? - ✔✔a) It decreased when the oldest child reaches the age of 21
b) It increased when a newborn baby is added to the policy
c) It decreases when an adopted child is added to the policy
d) It remains the same no matter how many children are added to the policy
✔✔d) - ✔✔d)
✔✔An insured carries health insurance with two different providers and is covered on
an expense incurred basis. He has an appendectomy and files the claims to both
insurers. Neither company is notified in advance that the insurer has other coverage.
What should each insurer pay? - ✔✔a) Only one should pay the full amount
b) Nothing. The insured lied about the dual nature of his coverage, so the insurers are
not responsible for covering the claims
c) The full amount
d) A proportionate amount
✔✔d) - ✔✔d)
✔✔J transferred his life insurance policy to his son two years before his death. Which of
the following is true? - ✔✔a) The unpaid premiums on the policy will be deducted from
J's taxable estate
b) Because the policy has been transferred, it will not be included in J's taxable estate
c) The entire face value of the policy will be included in J's taxable estate
d) The interest portion of the policy will be included in J's taxable estate.
✔✔c) - ✔✔c)
✔✔The death benefit under the Universal Life Option B - ✔✔a) Decreases by the
amount that the cash value increases
b) Increases for the first few years of the policy and then levels off
c) Remains level
d) Gradually increases each year by the amount that the cash value increases
✔✔d) - ✔✔d)
✔✔When a fixed annuity owner pays his/her insurance company a monthly annuity
premium, where is the money placed? - ✔✔a) Forwarded to an investor
b) Each contract's separate account
c) The annuity owners account
, d) The insurance company's general account
✔✔d) - ✔✔d)
✔✔Under which of the following employer-provided plans are the benefits taxable to an
employee in proportion to the amount of premium paid by the employer? - ✔✔a) Basic
Medical Expense
b) Disability income
c) Major Medical
d) Dental Expense
✔✔b) - ✔✔b)
✔✔The primary purpose of licensing is to - ✔✔a) Generate income for the insurance
department
b) Satisfy a federal requirement that all person involved in insurance to be licensed
c) Ensure high standards to the insuring public
d) None of the above
✔✔c) - ✔✔c)
✔✔How are contributions to tax-sheltered annuity treated with regards to taxation? -
✔✔a) They are taxed as income for the employee
b) They are taxed as income for the employee, but are tax free upon withdrawal
c) They are not included as income for the employee but are taxable upon distribution
d) They are never taxed
✔✔c) - ✔✔c)
✔✔The gatekeeper of an HMO helps - ✔✔a) Determine which doctors can participate in
an HMO plan
b) Control specialist costs
c) Determine who will be allowed to enroll in an HMO program
d) Prevent double coverage
✔✔b) - ✔✔b)
✔✔What is the shortest possible elimination period for group short-term disability
benefits provided by an employer? - ✔✔a) 0 days
b) 30 days
c) 60 days
d) 90 days
✔✔a) - ✔✔a)
