life, accident and health insurance state
exam- OH Correct 100%
A person who is a nonsmoker, of average weight and in excellent health would most
likely be in which risk classification? - ANSWER preferred
Preferred risk policies with reduced premiums are issued by insurance companies bc
the insured has - ANSWER better than average mortality
The waiver of premium does NOT include which provision? - ANSWER Al future
premiums are waived if the insured recovers from the disability
An advertisement for an insurance product may contain - ANSWER the insurer's name
A medicare supplement plan can be canceled by the insurer - ANSWER for
nonpayment of premiums
The principle of insurable interest, in regards to a life insurance contract, is accurately
described in which statement? - ANSWER Insurable interest can be based on the love
and affection of individuals related by blood or law
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
An example of a health insuring corporation (HIC) specialty care provider is - ANSWER
neurologist
an insurance company needs to obtain personal info from a 3rd part concerning an
applicant. which law do all insurers and their producers need to comply with? -
ANSWER fair credit reporting act
time is covered under a group plan and would like to changed his coverage to an
individual policy w the same insurer bc of employment termination. which of these
describes the change that will take place? - ANSWER conversion
an agents appt has been terminated by insurer. the insurer must then notify the
superintendent within how many days of the termination? - ANSWER 30
the suicide clause of a life insurance policy states that if an insured commits suicide w in
a stated period from the policy inception, the insurer will only be liable for a return of
prisms paid - ANSWER minus indebtedness and without interest
, which of the following is considered to be an alternative to a life settlement? - ANSWER
accelerated death benefit rider
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 that has premiums fully paid up within a stated time period is
called - ANSWER limited payment insurance
The factor used most often when underwriting a disability income policy is - ANSWER
annual earnings
the free look period in ohio for individual health insurance policies is __ days - ANSWER
10
which of the following is considered to be the period when the accumulated value in an
annuity is paid out? - ANSWER annutization phase
under a disability income policy, which provision would be payable if the cause of an
injury is unexpected and accidental? - ANSWER accidental bodily injury provision
the ire states that taxpayers 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 premium
an insurance company has just received a request for verification from a vatical
settlement provider. the insurer is required to respond within ___ calendar days to this
request - ANSWER 30
which signature is not required on an indiv insurance app - ANSWER insurer
what can increase death benefit amount? - ANSWER cost of living, accidental death
rider and guaranteed insurability but waiver of premium cannot
the open enrollment period for medicare supplements begins at age - ANSWER 65
an example of replacement is - ANSWER cancelling a term life policy to buy a whole life
policy
replacement can be best described as - ANSWER exchanging a new policy for one
already in force
a common exclusion for limitation on a dental policy is - ANSWER endodontics
exam- OH Correct 100%
A person who is a nonsmoker, of average weight and in excellent health would most
likely be in which risk classification? - ANSWER preferred
Preferred risk policies with reduced premiums are issued by insurance companies bc
the insured has - ANSWER better than average mortality
The waiver of premium does NOT include which provision? - ANSWER Al future
premiums are waived if the insured recovers from the disability
An advertisement for an insurance product may contain - ANSWER the insurer's name
A medicare supplement plan can be canceled by the insurer - ANSWER for
nonpayment of premiums
The principle of insurable interest, in regards to a life insurance contract, is accurately
described in which statement? - ANSWER Insurable interest can be based on the love
and affection of individuals related by blood or law
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
An example of a health insuring corporation (HIC) specialty care provider is - ANSWER
neurologist
an insurance company needs to obtain personal info from a 3rd part concerning an
applicant. which law do all insurers and their producers need to comply with? -
ANSWER fair credit reporting act
time is covered under a group plan and would like to changed his coverage to an
individual policy w the same insurer bc of employment termination. which of these
describes the change that will take place? - ANSWER conversion
an agents appt has been terminated by insurer. the insurer must then notify the
superintendent within how many days of the termination? - ANSWER 30
the suicide clause of a life insurance policy states that if an insured commits suicide w in
a stated period from the policy inception, the insurer will only be liable for a return of
prisms paid - ANSWER minus indebtedness and without interest
, which of the following is considered to be an alternative to a life settlement? - ANSWER
accelerated death benefit rider
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 that has premiums fully paid up within a stated time period is
called - ANSWER limited payment insurance
The factor used most often when underwriting a disability income policy is - ANSWER
annual earnings
the free look period in ohio for individual health insurance policies is __ days - ANSWER
10
which of the following is considered to be the period when the accumulated value in an
annuity is paid out? - ANSWER annutization phase
under a disability income policy, which provision would be payable if the cause of an
injury is unexpected and accidental? - ANSWER accidental bodily injury provision
the ire states that taxpayers 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 premium
an insurance company has just received a request for verification from a vatical
settlement provider. the insurer is required to respond within ___ calendar days to this
request - ANSWER 30
which signature is not required on an indiv insurance app - ANSWER insurer
what can increase death benefit amount? - ANSWER cost of living, accidental death
rider and guaranteed insurability but waiver of premium cannot
the open enrollment period for medicare supplements begins at age - ANSWER 65
an example of replacement is - ANSWER cancelling a term life policy to buy a whole life
policy
replacement can be best described as - ANSWER exchanging a new policy for one
already in force
a common exclusion for limitation on a dental policy is - ANSWER endodontics
