OHIO LIFE INSURANCE 2026 STUDY SHEET
MASTER QUESTIONS WITH ACCURATE
ANSWERS
◉All _____ policies must be guaranteed renewable. Answer: long-
term care
◉An attending physician's statement would be appropriate for
which life insurance purpose? Answer: At the request of the insurer
to assist in the underwriting decision
◉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? Answer: Unpaid premium
◉Of the following dividend options, which of these is taxable?
Answer: Accumulation at interest
◉An endorsement found in an insurance plan which modifies the
provisions of the policy is called a(n) Answer: Rider
,◉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
◉Sole proprietors are permitted tax deductions for health costs paid
from their earnings in the amount of Answer: 100% of costs
◉Kate has a Major Medical Plan with a 75/25 coinsurance and a
deductible of $25. How much will she have to pay if she, not having
met any of her deductible, visits the doctor and receives a bill for
$125? Answer: $50.00
◉When calculating the amount of life insurance needed for an
income earner, what has to be determined when using the Needs
Approach? Answer: The family's financial objectives if the income
earner were to die or become disabled
◉A plan in which an employer pays insurance benefits from a fund
derived from the employer's current revenues is called Answer: A
self-funded plan
◉If an insured's age on a life insurance policy has been misstated,
what is the insurer's liability if the insured dies? Answer: A prorated
death benefit based on the amount of insurance the insured's
premiums would have been if purchased at the correct age
, ◉Which of the following is permitted in an advertisement for an
insurance policy? Answer: The insurer's name
◉Which type of rider will waive the premium on a child's life
insurance policy if the parent paying the premium dies? Answer:
Payor benefit
◉A type of insurer that is owned by its policyowners is called
Answer: mutual
◉An annuitant dies during the distribution period. What kind of
annuity will return to a beneficiary the difference between the
annuity value and the income payments already made? Answer:
Refund annuity
◉A form of medical health insurance covering the treatment and
care of gum disease is called Answer: Dental expense insurance
◉Under a life insurance policy, what does the insuring clause state?
Answer: The insurer's obligation to pay a death benefit upon an
approved death claim
◉Coming from an insurance point of view, which of the following is
the main risk associated with disability? Answer: Loss of income
MASTER QUESTIONS WITH ACCURATE
ANSWERS
◉All _____ policies must be guaranteed renewable. Answer: long-
term care
◉An attending physician's statement would be appropriate for
which life insurance purpose? Answer: At the request of the insurer
to assist in the underwriting decision
◉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? Answer: Unpaid premium
◉Of the following dividend options, which of these is taxable?
Answer: Accumulation at interest
◉An endorsement found in an insurance plan which modifies the
provisions of the policy is called a(n) Answer: Rider
,◉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
◉Sole proprietors are permitted tax deductions for health costs paid
from their earnings in the amount of Answer: 100% of costs
◉Kate has a Major Medical Plan with a 75/25 coinsurance and a
deductible of $25. How much will she have to pay if she, not having
met any of her deductible, visits the doctor and receives a bill for
$125? Answer: $50.00
◉When calculating the amount of life insurance needed for an
income earner, what has to be determined when using the Needs
Approach? Answer: The family's financial objectives if the income
earner were to die or become disabled
◉A plan in which an employer pays insurance benefits from a fund
derived from the employer's current revenues is called Answer: A
self-funded plan
◉If an insured's age on a life insurance policy has been misstated,
what is the insurer's liability if the insured dies? Answer: A prorated
death benefit based on the amount of insurance the insured's
premiums would have been if purchased at the correct age
, ◉Which of the following is permitted in an advertisement for an
insurance policy? Answer: The insurer's name
◉Which type of rider will waive the premium on a child's life
insurance policy if the parent paying the premium dies? Answer:
Payor benefit
◉A type of insurer that is owned by its policyowners is called
Answer: mutual
◉An annuitant dies during the distribution period. What kind of
annuity will return to a beneficiary the difference between the
annuity value and the income payments already made? Answer:
Refund annuity
◉A form of medical health insurance covering the treatment and
care of gum disease is called Answer: Dental expense insurance
◉Under a life insurance policy, what does the insuring clause state?
Answer: The insurer's obligation to pay a death benefit upon an
approved death claim
◉Coming from an insurance point of view, which of the following is
the main risk associated with disability? Answer: Loss of income
