life, accident and health insurance
state exam- OH22
A person who is a nonsmoker, of average weight and in excellent health would most likely be in
which risk classification? - ANSWERSpreferred
Preferred risk policies with reduced premiums are issued by insurance companies bc the insured
has - ANSWERSbetter than average mortality
The waiver of premium does NOT include which provision? - ANSWERSAl future premiums are
waived if the insured recovers from the disability
An advertisement for an insurance product may contain - ANSWERSthe insurer's name
A medicare supplement plan can be canceled by the insurer - ANSWERSfor nonpayment of
premiums
The principle of insurable interest, in regards to a life insurance contract, is accurately described
in which statement? - ANSWERSInsurable interest can be based on the love and affection of
individuals related by blood or law
Craig submits a %500 claim for medical expenses. With a past due premium of $100, the insurer
pays $400. which of the uniform optional provisions covers this situation? - ANSWERSunpaid
premium
An example of a health insuring corporation (HIC) specialty care provider is -
ANSWERSneurologist
,an insurance company needs to obtain personal info from a 3rd part concerning an applicant.
which law do all insurers and their producers need to comply with? - ANSWERSfair credit
reporting act
time is covered under a group plan and would like to changed his coverage to an individual
policy w the same insurer bc of employment termination. which of these describes the change
that will take place? - ANSWERSconversion
an agents appt has been terminated by insurer. the insurer must then notify the superintendent
within how many days of the termination? - ANSWERS30
the suicide clause of a life insurance policy states that if an insured commits suicide w in a
stated period from the policy inception, the insurer will only be liable for a return of prisms paid
- ANSWERSminus indebtedness and without interest
which of the following is considered to be an alternative to a life settlement? -
ANSWERSaccelerated death benefit rider
if the annuitant dies before the annuity start date, - ANSWERSthe premiums paid plus interest
earned will be given to the beneficiary
a life insurance policy that has premiums fully paid up within a stated time period is called -
ANSWERSlimited payment insurance
shopping for annuity that guarantees he cannot outlive the benefits. which of these benefit
options would he choose - ANSWERSguaranteed lifetime withdrawal benefit
what is medicare part b known as - ANSWERSsupplementary medical insurance
, field underwriting performed by the producer involves - ANSWERScompleting the application
and collecting initial premium
a life insurance policy which contains cash values that vary according to its investment
performance of stocks is called - ANSWERSvariable whole life
a life insurance policy owner was injured in an automobile accident which results in total and
permanent disability. which rider would pay a monthly amount bc of this disability? -
ANSWERSdisability income rider
pierre is covered by his employers group major medical plan. his employer pays for 75% of the
premium and he pays for 25%. how much would a 10000 benefit be taxable as income under
this plan - ANSWERS0
what is not an element of a valid contract - ANSWERScountersignature
a health insurance policy will typically cover - ANSWERSpreventative health services
which settlement option involves having the proceeds remain with the insurer and earnings
paid on a monthly basis to the beneficiary? - ANSWERSinterest only
all of the following are qualifications for establishing a health savings act (HSA) except -
ANSWERSenrolled in a health plan with a prescription drug benefit
legal purpose is a term used in contract law meaning - ANSWERSthere must be legal reasons for
entering into the contract
donald is the primary insured of a life insurance policy and adds a children's term rider. what is
the advantage of adding this rider? - ANSWERScan be converted to a permanent coverage
state exam- OH22
A person who is a nonsmoker, of average weight and in excellent health would most likely be in
which risk classification? - ANSWERSpreferred
Preferred risk policies with reduced premiums are issued by insurance companies bc the insured
has - ANSWERSbetter than average mortality
The waiver of premium does NOT include which provision? - ANSWERSAl future premiums are
waived if the insured recovers from the disability
An advertisement for an insurance product may contain - ANSWERSthe insurer's name
A medicare supplement plan can be canceled by the insurer - ANSWERSfor nonpayment of
premiums
The principle of insurable interest, in regards to a life insurance contract, is accurately described
in which statement? - ANSWERSInsurable interest can be based on the love and affection of
individuals related by blood or law
Craig submits a %500 claim for medical expenses. With a past due premium of $100, the insurer
pays $400. which of the uniform optional provisions covers this situation? - ANSWERSunpaid
premium
An example of a health insuring corporation (HIC) specialty care provider is -
ANSWERSneurologist
,an insurance company needs to obtain personal info from a 3rd part concerning an applicant.
which law do all insurers and their producers need to comply with? - ANSWERSfair credit
reporting act
time is covered under a group plan and would like to changed his coverage to an individual
policy w the same insurer bc of employment termination. which of these describes the change
that will take place? - ANSWERSconversion
an agents appt has been terminated by insurer. the insurer must then notify the superintendent
within how many days of the termination? - ANSWERS30
the suicide clause of a life insurance policy states that if an insured commits suicide w in a
stated period from the policy inception, the insurer will only be liable for a return of prisms paid
- ANSWERSminus indebtedness and without interest
which of the following is considered to be an alternative to a life settlement? -
ANSWERSaccelerated death benefit rider
if the annuitant dies before the annuity start date, - ANSWERSthe premiums paid plus interest
earned will be given to the beneficiary
a life insurance policy that has premiums fully paid up within a stated time period is called -
ANSWERSlimited payment insurance
shopping for annuity that guarantees he cannot outlive the benefits. which of these benefit
options would he choose - ANSWERSguaranteed lifetime withdrawal benefit
what is medicare part b known as - ANSWERSsupplementary medical insurance
, field underwriting performed by the producer involves - ANSWERScompleting the application
and collecting initial premium
a life insurance policy which contains cash values that vary according to its investment
performance of stocks is called - ANSWERSvariable whole life
a life insurance policy owner was injured in an automobile accident which results in total and
permanent disability. which rider would pay a monthly amount bc of this disability? -
ANSWERSdisability income rider
pierre is covered by his employers group major medical plan. his employer pays for 75% of the
premium and he pays for 25%. how much would a 10000 benefit be taxable as income under
this plan - ANSWERS0
what is not an element of a valid contract - ANSWERScountersignature
a health insurance policy will typically cover - ANSWERSpreventative health services
which settlement option involves having the proceeds remain with the insurer and earnings
paid on a monthly basis to the beneficiary? - ANSWERSinterest only
all of the following are qualifications for establishing a health savings act (HSA) except -
ANSWERSenrolled in a health plan with a prescription drug benefit
legal purpose is a term used in contract law meaning - ANSWERSthere must be legal reasons for
entering into the contract
donald is the primary insured of a life insurance policy and adds a children's term rider. what is
the advantage of adding this rider? - ANSWERScan be converted to a permanent coverage
