Ohio Life and Health Insurance ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
License Exam with correct answers ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Risk Avoidance - correct answers ✔✔An individual who
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
removes the risk of losing money in the stock market by ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
never purchasing stocks is said to be engaging in?
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
- Risk reduction
||\\||\\ ||\\||\\
- Risk transference
||\\||\\ ||\\||\\
- Risk avoidance
||\\||\\ ||\\||\\
- Risk retention
||\\||\\ ||\\||\\
Enact insurance legislation - correct answers ✔✔Which of
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
the following is NOT a specific power given to the
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
superintendent?
- Administer oaths
||\\||\\ ||\\||\\
- Enact insurance legislation
||\\||\\ ||\\||\\ ||\\||\\
- Issue subpoenas
||\\||\\ ||\\||\\
- Approve policy forms
||\\||\\ ||\\||\\ ||\\||\\
,Separate account investments - correct answers ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
✔✔Which of the following are the premium payments for ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
a Universal life policy NOT used for?
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
- Death benefits
||\\||\\ ||\\||\\
- Cash value
||\\||\\ ||\\||\\
- Loading costs
||\\||\\ ||\\||\\
- Separate account investments
||\\||\\ ||\\||\\ ||\\||\\
Prescription drugs - correct answers ✔✔Which of the ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
following does Medicare Part D cover? ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
- Intensive care coverage
||\\||\\ ||\\||\\ ||\\||\\
- Doctor visits
||\\||\\ ||\\||\\
- Prescription drugs
||\\||\\ ||\\||\\
- Hospital coverage
||\\||\\ ||\\||\\
Guaranteed Insurability Rider - correct answers ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
✔✔Barbara's policy includes a rider which allows her to ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
purchase additional insurance at specific dates or events ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
without evidence of insurability. This rider is called an?
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
,- Guaranteed insurability rider
||\\||\\ ||\\||\\ ||\\||\\
- Payor rider
||\\||\\ ||\\||\\
- Endowment rider
||\\||\\ ||\\||\\
- Family income rider
||\\||\\ ||\\||\\ ||\\||\\
Endorsing insurers - correct answers ✔✔All of these are ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
responsibilities of the superintendent EXCEPT? ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
- Administering oaths
||\\||\\ ||\\||\\
- Subpoena a witness
||\\||\\ ||\\||\\ ||\\||\\
- Approving policy forms
||\\||\\ ||\\||\\ ||\\||\\
- Endorsing insurers
||\\||\\ ||\\||\\
$900 - correct answers ✔✔Amy has a group medical
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
policy through her employer with a $500 deductible and a
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
90% coinsurance provision. She incurs $1,500 in covered
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
health care services. How much will her group insurance
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
carrier pay? ||\\||\\
- $500
||\\||\\
- $900
||\\||\\
, - $1,000
||\\||\\
- $1,350
||\\||\\
Deferred Compensation - correct answers ✔✔All of the ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
following are examples of a Business Continuation Plan ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
EXCEPT?
- Key person insurance
||\\||\\ ||\\||\\ ||\\||\\
- Cross-purchase agreement
||\\||\\ ||\\||\\
- Stock Redemption Plan
||\\||\\ ||\\||\\ ||\\||\\
- Deferred Compensation
||\\||\\ ||\\||\\
Policy termination - correct answers ✔✔Unmarried
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
children who are incapable of self support and have proof ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
of incapability are included under their parents health
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
coverage until? ||\\||\\
- policy termination
||\\||\\ ||\\||\\
- policy renewal
||\\||\\ ||\\||\\
- age 18
||\\||\\ ||\\||\\
- age 21
||\\||\\ ||\\||\\
License Exam with correct answers ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
Risk Avoidance - correct answers ✔✔An individual who
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
removes the risk of losing money in the stock market by ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
never purchasing stocks is said to be engaging in?
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
- Risk reduction
||\\||\\ ||\\||\\
- Risk transference
||\\||\\ ||\\||\\
- Risk avoidance
||\\||\\ ||\\||\\
- Risk retention
||\\||\\ ||\\||\\
Enact insurance legislation - correct answers ✔✔Which of
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
the following is NOT a specific power given to the
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
superintendent?
- Administer oaths
||\\||\\ ||\\||\\
- Enact insurance legislation
||\\||\\ ||\\||\\ ||\\||\\
- Issue subpoenas
||\\||\\ ||\\||\\
- Approve policy forms
||\\||\\ ||\\||\\ ||\\||\\
,Separate account investments - correct answers ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
✔✔Which of the following are the premium payments for ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
a Universal life policy NOT used for?
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
- Death benefits
||\\||\\ ||\\||\\
- Cash value
||\\||\\ ||\\||\\
- Loading costs
||\\||\\ ||\\||\\
- Separate account investments
||\\||\\ ||\\||\\ ||\\||\\
Prescription drugs - correct answers ✔✔Which of the ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
following does Medicare Part D cover? ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
- Intensive care coverage
||\\||\\ ||\\||\\ ||\\||\\
- Doctor visits
||\\||\\ ||\\||\\
- Prescription drugs
||\\||\\ ||\\||\\
- Hospital coverage
||\\||\\ ||\\||\\
Guaranteed Insurability Rider - correct answers ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
✔✔Barbara's policy includes a rider which allows her to ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
purchase additional insurance at specific dates or events ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
without evidence of insurability. This rider is called an?
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
,- Guaranteed insurability rider
||\\||\\ ||\\||\\ ||\\||\\
- Payor rider
||\\||\\ ||\\||\\
- Endowment rider
||\\||\\ ||\\||\\
- Family income rider
||\\||\\ ||\\||\\ ||\\||\\
Endorsing insurers - correct answers ✔✔All of these are ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
responsibilities of the superintendent EXCEPT? ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
- Administering oaths
||\\||\\ ||\\||\\
- Subpoena a witness
||\\||\\ ||\\||\\ ||\\||\\
- Approving policy forms
||\\||\\ ||\\||\\ ||\\||\\
- Endorsing insurers
||\\||\\ ||\\||\\
$900 - correct answers ✔✔Amy has a group medical
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
policy through her employer with a $500 deductible and a
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
90% coinsurance provision. She incurs $1,500 in covered
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
health care services. How much will her group insurance
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
carrier pay? ||\\||\\
- $500
||\\||\\
- $900
||\\||\\
, - $1,000
||\\||\\
- $1,350
||\\||\\
Deferred Compensation - correct answers ✔✔All of the ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
following are examples of a Business Continuation Plan ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
EXCEPT?
- Key person insurance
||\\||\\ ||\\||\\ ||\\||\\
- Cross-purchase agreement
||\\||\\ ||\\||\\
- Stock Redemption Plan
||\\||\\ ||\\||\\ ||\\||\\
- Deferred Compensation
||\\||\\ ||\\||\\
Policy termination - correct answers ✔✔Unmarried
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
children who are incapable of self support and have proof ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
of incapability are included under their parents health
||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\ ||\\||\\
coverage until? ||\\||\\
- policy termination
||\\||\\ ||\\||\\
- policy renewal
||\\||\\ ||\\||\\
- age 18
||\\||\\ ||\\||\\
- age 21
||\\||\\ ||\\||\\
