OHIO LIFE AND HEALTH EXAM PAPER 2026
QUESTIONS AND VERIFIED ANSWERS GRADED
A+
◉ Which of the following statements is CORRECT regarding an
individual applying for life or health insurance? Answer: The
applicant's medical history may be analyzed and reported
◉ Which type of annuity guarantees a stated number of income
payments, whether or not the annuitant is still alive to receive them?
Answer: life annuity certain
◉ A type of insurer that is owned by its policyowners is called
Answer: mutual
◉ A whole life insurance policy accumulates cash value that
becomes Answer: the policy loan value which the insured may
borrow against
◉ What happens to interest earned if the annuitant dies before the
payout start date? Answer: it is taxable
,◉ What dividend option would an insurer invest the policyowner's
money and add any interest earnings as the dividends accrue?
Answer: Accumulation at Interest Option
◉ Medicare Part A covers Answer: inpatient hospital stay
◉ The election of COBRA for continuation of health coverage will
Answer: maintain the same coverage and increase premium
◉ All of these are responsibilities of the superintendent EXCEPT
Answer: endorsing insurers
◉ Which disability policy provision would address any concerns of
the value of the benefits decreasing over time? Answer: cost of living
benefit
◉ What does the Consolidated Omnibus Budget Reconciliation Act
(COBRA) of 1985 allow an employee to do? Answer: in the event of
employment termination, group health insurance can be kept if the
employee pays the premiums
◉ Ambiguities in an insurance policy are always resolved in favor of
the Answer: insured
, ◉ Which of the following does Medicare Part D cover? Answer:
prescription drugs
◉ How do interest earnings accumulate in a deferred annuity?
Answer: on a tax-deferred basis
◉ A securities license is required for a life insurance producer to sell
Answer: variable life insurance
◉ What happens when an insurance policy is backdated? Answer:
the policy's effective date is earlier than the present
◉ Ron has a new employer and wishes to enroll in the company's
group health plan. In determining whether his pre-existing health
condition applies, Ron cannot have more than a ___ day gap without
previous health insurance. Answer: 63
◉ Jonas has disability insurance through his employer. The
employer pays 75% of the premium, and Jonas pays the other 25%.
What is Jonas's tax liability for any benefits paid from the disability
plan? Answer: taxes must be paid on 75% of the benefits received
◉ A health insurance policy where the insurer has the right to
terminate the policy for reasons other than the insured's health is
called Answer: conditionally renewable
QUESTIONS AND VERIFIED ANSWERS GRADED
A+
◉ Which of the following statements is CORRECT regarding an
individual applying for life or health insurance? Answer: The
applicant's medical history may be analyzed and reported
◉ Which type of annuity guarantees a stated number of income
payments, whether or not the annuitant is still alive to receive them?
Answer: life annuity certain
◉ A type of insurer that is owned by its policyowners is called
Answer: mutual
◉ A whole life insurance policy accumulates cash value that
becomes Answer: the policy loan value which the insured may
borrow against
◉ What happens to interest earned if the annuitant dies before the
payout start date? Answer: it is taxable
,◉ What dividend option would an insurer invest the policyowner's
money and add any interest earnings as the dividends accrue?
Answer: Accumulation at Interest Option
◉ Medicare Part A covers Answer: inpatient hospital stay
◉ The election of COBRA for continuation of health coverage will
Answer: maintain the same coverage and increase premium
◉ All of these are responsibilities of the superintendent EXCEPT
Answer: endorsing insurers
◉ Which disability policy provision would address any concerns of
the value of the benefits decreasing over time? Answer: cost of living
benefit
◉ What does the Consolidated Omnibus Budget Reconciliation Act
(COBRA) of 1985 allow an employee to do? Answer: in the event of
employment termination, group health insurance can be kept if the
employee pays the premiums
◉ Ambiguities in an insurance policy are always resolved in favor of
the Answer: insured
, ◉ Which of the following does Medicare Part D cover? Answer:
prescription drugs
◉ How do interest earnings accumulate in a deferred annuity?
Answer: on a tax-deferred basis
◉ A securities license is required for a life insurance producer to sell
Answer: variable life insurance
◉ What happens when an insurance policy is backdated? Answer:
the policy's effective date is earlier than the present
◉ Ron has a new employer and wishes to enroll in the company's
group health plan. In determining whether his pre-existing health
condition applies, Ron cannot have more than a ___ day gap without
previous health insurance. Answer: 63
◉ Jonas has disability insurance through his employer. The
employer pays 75% of the premium, and Jonas pays the other 25%.
What is Jonas's tax liability for any benefits paid from the disability
plan? Answer: taxes must be paid on 75% of the benefits received
◉ A health insurance policy where the insurer has the right to
terminate the policy for reasons other than the insured's health is
called Answer: conditionally renewable
