OHIO LIFE INSURANCE 2026 ACTUAL TEST
PAPER COMPLETE QUESTIONS AND
VERIFIED ANSWERS
◉The IRS states that a taxpayer's medical expenses that exceed
7.5% of their adjusted gross income is tax deductible. Which of the
following may be considered a medical expense under this rule?
Answer: Long Term Care Insurance premiums
◉What is the primary factor that determines the benefits paid under
a disability income policy? Answer: Wages
◉A licensee who is required to take continuing education must
include how many ethics coursework hours? Answer: 3
◉Julie has a $100,000 30-year mortgage on her new home. What
type of life insurance could she purchase that is designed to pay off
the loan balance if she dies within the 30-year period? Answer:
Decreasing term insurance
◉Which approach predicts a person's earning potential and
determines how much of that amount would be devoted to
dependents? Answer: Human life value approach
,◉The premium for a Modified whole life policy is Answer: lower
than the typical whole life policy during the first few years and then
higher than typical for the remainder
◉In Ohio, when an advertisement for accident and health insurance
refers to dollar amount benefits, the advertisement must also
disclose Answer: Any applicable benefit reduction
◉Medical Expense Insurance would cover Answer: an injury
occurring at the insured's residence
◉What is issued to each employee of an employer health plan?
Answer: Certificate
◉Matt is applying for life insurance and requests a double
indemnity rider. A double indemnity benefit will be payable to Matt's
beneficiary if Matt Answer: dies instantly from a car accident
◉Which of the following statements is TRUE about an insurer's right
to screen applicants for HIV? Answer: An insurer can require a blood
test for HIV
◉If the annuitant dies before the annuity start date, Answer: the
premiums paid plus interest earned will be given to the beneficiary
, ◉A life insurance policy normally contains a provision that restricts
coverage in the event of death under all of the following situations
EXCEPT Answer: fare-paying passenger
◉An insurer has a right to screen applicants for HIV in which of the
following ways? Answer: Blood test for HIV
◉The difference between a Long Term Care Partnership Plan and a
Non-Partnership Plan is which of the following? Answer: Asset
Protection
◉All of these are valid policy dividend options for a life insurance
policyowner EXCEPT Answer: accumulate without interest
◉Joe has a life insurance policy that has a face amount of $300,000.
After a number of years, the policy's cash value accumulates to
$50,000 and the face amount becomes $350,000. What kind of
policy is this? Answer: Universal Life policy
◉Proceeds from a life insurance policy are protected from the
beneficiary's creditors by which clause? Answer: spendthrift trust
clause
PAPER COMPLETE QUESTIONS AND
VERIFIED ANSWERS
◉The IRS states that a taxpayer's medical expenses that exceed
7.5% of their adjusted gross income is tax deductible. Which of the
following may be considered a medical expense under this rule?
Answer: Long Term Care Insurance premiums
◉What is the primary factor that determines the benefits paid under
a disability income policy? Answer: Wages
◉A licensee who is required to take continuing education must
include how many ethics coursework hours? Answer: 3
◉Julie has a $100,000 30-year mortgage on her new home. What
type of life insurance could she purchase that is designed to pay off
the loan balance if she dies within the 30-year period? Answer:
Decreasing term insurance
◉Which approach predicts a person's earning potential and
determines how much of that amount would be devoted to
dependents? Answer: Human life value approach
,◉The premium for a Modified whole life policy is Answer: lower
than the typical whole life policy during the first few years and then
higher than typical for the remainder
◉In Ohio, when an advertisement for accident and health insurance
refers to dollar amount benefits, the advertisement must also
disclose Answer: Any applicable benefit reduction
◉Medical Expense Insurance would cover Answer: an injury
occurring at the insured's residence
◉What is issued to each employee of an employer health plan?
Answer: Certificate
◉Matt is applying for life insurance and requests a double
indemnity rider. A double indemnity benefit will be payable to Matt's
beneficiary if Matt Answer: dies instantly from a car accident
◉Which of the following statements is TRUE about an insurer's right
to screen applicants for HIV? Answer: An insurer can require a blood
test for HIV
◉If the annuitant dies before the annuity start date, Answer: the
premiums paid plus interest earned will be given to the beneficiary
, ◉A life insurance policy normally contains a provision that restricts
coverage in the event of death under all of the following situations
EXCEPT Answer: fare-paying passenger
◉An insurer has a right to screen applicants for HIV in which of the
following ways? Answer: Blood test for HIV
◉The difference between a Long Term Care Partnership Plan and a
Non-Partnership Plan is which of the following? Answer: Asset
Protection
◉All of these are valid policy dividend options for a life insurance
policyowner EXCEPT Answer: accumulate without interest
◉Joe has a life insurance policy that has a face amount of $300,000.
After a number of years, the policy's cash value accumulates to
$50,000 and the face amount becomes $350,000. What kind of
policy is this? Answer: Universal Life policy
◉Proceeds from a life insurance policy are protected from the
beneficiary's creditors by which clause? Answer: spendthrift trust
clause
