OHIO HEALTH AND LIFE INSURANCE 2024 EXAM
ACTUAL EXAM COMPLETE QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
Preferred risk policies with reduced premiums are issued by insurance companies
because the insured has - ans -better than average mortality or morbidity
experience
An insurer may refuse to renew an employer's small group health plan due to -
ans -nonpayment of premium
Which of these is a method of determining the level of funds required for ongoing
support in the event of the breadwinner's death? - ans -Human Life Value
A Long-term care policy typically provides all of the following levels of care
EXCEPT - ans -acute care
Pre-death distributions from a modified endowment contract (MEC) receive
different tax treatment than other life insurance policies because - ans -the MEC
tends to be an investment vehicle
An employer with under 20 employees must allow a terminated employee to
continue accident and health coverage for a MINIMUM of ____months. - ans -12
How does one become eligible for Part D: Prescription Drug coverage? - ans -must
have Medicare
Which of these is NOT a legal reason for an HIC to release a subscriber's
confidential health information? - ans -Public interest
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? - ans -$900
, Ken is a producer who has obtained Consumer Information Reports under false
pretenses. Under the Fair Credit Reporting Act, what is the maximum penalty that
may be imposed on Ken? - ans -$5,000
Which of the following annuity payout options makes no additional payments
regardless of when the annuitant dies? - ans -Life only
Which of these ensures that proceeds of a life insurance policy will be free from
the attachment or seizure by the beneficiary's creditors? - ans -spendthrift clause
An indiviual who removes the risk of losing money in the stock market by never
purchasing stocks is said to be engaging in - ans -Risk avoidance
An insured individual and the policy's beneficiary die from the same accident. The
common disaster provision states the insurer will continue as if - ans -The insured
outlived the beneficiary
An example of elective cosmetic surgery would be - ans -removing excess fat from
an insured's waistline
As classified by the Affordable Care Act (ACA), a Silver Plan offers - ans -70%
actuarial level of coverage provided
Which of the following is NOT a common exclusion for a medical expense policy? -
ans -Physical therapy
Which of the following is required for an insurer to conduct business in this state?
- ans -Certificate of authority
____ is NOT an element of a valid contract - ans -countersignature
If an agent is believed to be causing considerable harm, the superintendent - ans -
may issue a cease and desist order against the agent
The factor used most often when underwriting a disability income policy is - ans -
annual earnings
ACTUAL EXAM COMPLETE QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
Preferred risk policies with reduced premiums are issued by insurance companies
because the insured has - ans -better than average mortality or morbidity
experience
An insurer may refuse to renew an employer's small group health plan due to -
ans -nonpayment of premium
Which of these is a method of determining the level of funds required for ongoing
support in the event of the breadwinner's death? - ans -Human Life Value
A Long-term care policy typically provides all of the following levels of care
EXCEPT - ans -acute care
Pre-death distributions from a modified endowment contract (MEC) receive
different tax treatment than other life insurance policies because - ans -the MEC
tends to be an investment vehicle
An employer with under 20 employees must allow a terminated employee to
continue accident and health coverage for a MINIMUM of ____months. - ans -12
How does one become eligible for Part D: Prescription Drug coverage? - ans -must
have Medicare
Which of these is NOT a legal reason for an HIC to release a subscriber's
confidential health information? - ans -Public interest
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? - ans -$900
, Ken is a producer who has obtained Consumer Information Reports under false
pretenses. Under the Fair Credit Reporting Act, what is the maximum penalty that
may be imposed on Ken? - ans -$5,000
Which of the following annuity payout options makes no additional payments
regardless of when the annuitant dies? - ans -Life only
Which of these ensures that proceeds of a life insurance policy will be free from
the attachment or seizure by the beneficiary's creditors? - ans -spendthrift clause
An indiviual who removes the risk of losing money in the stock market by never
purchasing stocks is said to be engaging in - ans -Risk avoidance
An insured individual and the policy's beneficiary die from the same accident. The
common disaster provision states the insurer will continue as if - ans -The insured
outlived the beneficiary
An example of elective cosmetic surgery would be - ans -removing excess fat from
an insured's waistline
As classified by the Affordable Care Act (ACA), a Silver Plan offers - ans -70%
actuarial level of coverage provided
Which of the following is NOT a common exclusion for a medical expense policy? -
ans -Physical therapy
Which of the following is required for an insurer to conduct business in this state?
- ans -Certificate of authority
____ is NOT an element of a valid contract - ans -countersignature
If an agent is believed to be causing considerable harm, the superintendent - ans -
may issue a cease and desist order against the agent
The factor used most often when underwriting a disability income policy is - ans -
annual earnings
