Ohio Life and Health State Exam
Simulator Questions With Complete
Solutions
Ohio requires that a licensee complete ___ hours of continuing education on
the subject of ethics every reporting period.
1
2
3
6 - Correct Answers ✅3
Purchasing a life insurance policy in order to avoid the forced sale of assets
upon death is called...
Estate funding
Capital gains
Estate conservation
Capital withholding - Correct Answers ✅Estate conservation
A field underwriter's main task is....
Assign a risk classification to the insured
,Ohio Life and Health State Exam
Simulator Questions With Complete
Solutions
Report medical information to the Medical Information Bureau (MIB)
To ensure an applicant's medical information is accurate and complete
To approve or decline an applicant - Correct Answers ✅To ensure an
applicant's medical information is accurate and complete
In group health care, what is the purpose of the coordination of benefits
provision?
Determines where an insured goes to receive treatment
Determines what is paid by the primary and secondary insurers in the event
of a claim
Ensures that a health provider receives the proper benefit amount owed
Determines which parent's plan covers a dependent child - Correct
Answers ✅Determines what is paid by the primary and secondary insurers
in the event of a claim
The principle of insurable interest, in regards to a life insurance contract, is
accurately described in which statement?
An agent establishes insurable interest
An individual does not have insurable interest on his or her own life
,Ohio Life and Health State Exam
Simulator Questions With Complete
Solutions
Insurable interest only pertains to business arrangements
Insurable interest can be based on the love and affection of individuals
related by blood or law - Correct Answers ✅Insurable interest can be
based on the love and affection of individuals related by blood or law
Inducement is BEST defined as...
making a false statement intended to malign another insurer
making an unfair comparison of two insurance policies
offer to buy, sell, give or allow the prospective insured employment, stock, or
special favors in exchange for insurance transaction
charging a higher rate for insurance based on an insured's race, religion, or
national origin - Correct Answers ✅offer to buy, sell, give or allow the
prospective insured employment, stock, or special favors in exchange for
insurance transaction
A policyowner can receive an immediate payment before the insured dies by
using a(n)
Viatical settlement contract
Buy-sell arrangement
, Ohio Life and Health State Exam
Simulator Questions With Complete
Solutions
Adhesion agreement
Spendthrift plan - Correct Answers ✅viatical settlement contract
Disability Income plans which require that the insurer can NEVER change or
alter premium rates are usually considered....
Guaranteed Renewable
Optional Renewable
Conditionally Renewable
Noncancellable - Correct Answers ✅Noncancellable
A type of group that has a constitution and bylaws and has been organized
for purposes other than obtaining insurance is called a(n)
Employer group
Employee group
Association or labor group
Multiple coalition - Correct Answers ✅Association or labor group
Simulator Questions With Complete
Solutions
Ohio requires that a licensee complete ___ hours of continuing education on
the subject of ethics every reporting period.
1
2
3
6 - Correct Answers ✅3
Purchasing a life insurance policy in order to avoid the forced sale of assets
upon death is called...
Estate funding
Capital gains
Estate conservation
Capital withholding - Correct Answers ✅Estate conservation
A field underwriter's main task is....
Assign a risk classification to the insured
,Ohio Life and Health State Exam
Simulator Questions With Complete
Solutions
Report medical information to the Medical Information Bureau (MIB)
To ensure an applicant's medical information is accurate and complete
To approve or decline an applicant - Correct Answers ✅To ensure an
applicant's medical information is accurate and complete
In group health care, what is the purpose of the coordination of benefits
provision?
Determines where an insured goes to receive treatment
Determines what is paid by the primary and secondary insurers in the event
of a claim
Ensures that a health provider receives the proper benefit amount owed
Determines which parent's plan covers a dependent child - Correct
Answers ✅Determines what is paid by the primary and secondary insurers
in the event of a claim
The principle of insurable interest, in regards to a life insurance contract, is
accurately described in which statement?
An agent establishes insurable interest
An individual does not have insurable interest on his or her own life
,Ohio Life and Health State Exam
Simulator Questions With Complete
Solutions
Insurable interest only pertains to business arrangements
Insurable interest can be based on the love and affection of individuals
related by blood or law - Correct Answers ✅Insurable interest can be
based on the love and affection of individuals related by blood or law
Inducement is BEST defined as...
making a false statement intended to malign another insurer
making an unfair comparison of two insurance policies
offer to buy, sell, give or allow the prospective insured employment, stock, or
special favors in exchange for insurance transaction
charging a higher rate for insurance based on an insured's race, religion, or
national origin - Correct Answers ✅offer to buy, sell, give or allow the
prospective insured employment, stock, or special favors in exchange for
insurance transaction
A policyowner can receive an immediate payment before the insured dies by
using a(n)
Viatical settlement contract
Buy-sell arrangement
, Ohio Life and Health State Exam
Simulator Questions With Complete
Solutions
Adhesion agreement
Spendthrift plan - Correct Answers ✅viatical settlement contract
Disability Income plans which require that the insurer can NEVER change or
alter premium rates are usually considered....
Guaranteed Renewable
Optional Renewable
Conditionally Renewable
Noncancellable - Correct Answers ✅Noncancellable
A type of group that has a constitution and bylaws and has been organized
for purposes other than obtaining insurance is called a(n)
Employer group
Employee group
Association or labor group
Multiple coalition - Correct Answers ✅Association or labor group
