Ohio Health and life insurance exam
$5,000 - ANS-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?
$900 - ANS-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?
10 - ANS-A life insurance policyowner is allowed days upon policy delivery to return the
policy for a full premium refund
100 days - ANS-Medicare Part A does not pay for medical benefits provided for the treatment in
a skilled nursing facility beyond
100% of costs - ANS-Sole proprietors are permitted tax deductions for health costs paid from
their earnings in the amount of
100% of the billed amount - ANS-A closed network plan offers a a primary physician copay of
$25. If a subscriber chooses a primary care physician outside of the network, the subscriber will
likely pay
12 - ANS-An employer with under 20 employees must allow a terminated employee to continue
accident and health coverage for a MINIMUM of months.
14 day waiting period/ 10 year benefit period - ANS-Frank is shopping for a disability income
policy. Which of the following would have the HIGHEST premium?
15 - ANS-An insurer must furnish to a claimant forms for filing proof of loss within days upon
receiving a notice of claim.
3 - ANS-A life insurance applicant in Ohio may backdate the application for up to
month(s)
3 - ANS-Ohio requires that a licensee complete hours of continuing education on the
subject of ethics every reporting period.
30 - ANS-An insurance company has just received a request for verification from a viatical
settlement provider. The insurer is required to respond within calendar days of this
request.
Page 1 of 11
, 30 days - ANS-An employee has days after the date of marriage to add a new spouse to a
small group health plan.
6 months - ANS-An insurer can exclude coverage for a preexisting condition on a Medicare
Supplement policy for up to
60% of the benefit - ANS-In an employer- sponsored contributory group Disability income plan,
the employer pays 60% of the premium and each employee pays 40% of the premium. Any
income benefits paid are taxed to the employee at
70% actuarial level of coverage provided - ANS-As classified by the Affordable Care Act (ACA),
a Silver Plan offers
80% - ANS-How much does Medicare Part B pay for physician fees?
A minimum of 12 months after date of purchase - ANS-How soon can the benefit payments
begin with a deferred annuity?
a negative reaction to a prescribed medication - ANS-Major medical insurance will typically
cover medical expenses that result from
accumulate without interest - ANS-All of these are valid policy dividend options for a life
insurance policyowner EXCEPT
acute care - ANS-A Long-term care policy typically provides all of the following levels of care
EXCEPT
All future premiums are waived if the insured recovers from the disability - ANS-The waiver of
premium does NOT include which provision?
An economic interest exists for the continuance of the insured's life - ANS-An individual most
likely will have an insurable interest in insuring a person's life if
an individual the means to replace wages - ANS-Loss of income insurance provides
An insurer's AM Best rating - ANS-All of these are considered forms of advertising EXCEPT
An S- corp owner with greater than 2% share - ANS-Which of the following is INELIGIBLE to
participate in section 125 plan?
annual earnings - ANS-The factor used most often when underwriting a disability income policy
is
application - ANS-The entire contract includes the actual policy and the
Page 2 of 11
$5,000 - ANS-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?
$900 - ANS-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?
10 - ANS-A life insurance policyowner is allowed days upon policy delivery to return the
policy for a full premium refund
100 days - ANS-Medicare Part A does not pay for medical benefits provided for the treatment in
a skilled nursing facility beyond
100% of costs - ANS-Sole proprietors are permitted tax deductions for health costs paid from
their earnings in the amount of
100% of the billed amount - ANS-A closed network plan offers a a primary physician copay of
$25. If a subscriber chooses a primary care physician outside of the network, the subscriber will
likely pay
12 - ANS-An employer with under 20 employees must allow a terminated employee to continue
accident and health coverage for a MINIMUM of months.
14 day waiting period/ 10 year benefit period - ANS-Frank is shopping for a disability income
policy. Which of the following would have the HIGHEST premium?
15 - ANS-An insurer must furnish to a claimant forms for filing proof of loss within days upon
receiving a notice of claim.
3 - ANS-A life insurance applicant in Ohio may backdate the application for up to
month(s)
3 - ANS-Ohio requires that a licensee complete hours of continuing education on the
subject of ethics every reporting period.
30 - ANS-An insurance company has just received a request for verification from a viatical
settlement provider. The insurer is required to respond within calendar days of this
request.
Page 1 of 11
, 30 days - ANS-An employee has days after the date of marriage to add a new spouse to a
small group health plan.
6 months - ANS-An insurer can exclude coverage for a preexisting condition on a Medicare
Supplement policy for up to
60% of the benefit - ANS-In an employer- sponsored contributory group Disability income plan,
the employer pays 60% of the premium and each employee pays 40% of the premium. Any
income benefits paid are taxed to the employee at
70% actuarial level of coverage provided - ANS-As classified by the Affordable Care Act (ACA),
a Silver Plan offers
80% - ANS-How much does Medicare Part B pay for physician fees?
A minimum of 12 months after date of purchase - ANS-How soon can the benefit payments
begin with a deferred annuity?
a negative reaction to a prescribed medication - ANS-Major medical insurance will typically
cover medical expenses that result from
accumulate without interest - ANS-All of these are valid policy dividend options for a life
insurance policyowner EXCEPT
acute care - ANS-A Long-term care policy typically provides all of the following levels of care
EXCEPT
All future premiums are waived if the insured recovers from the disability - ANS-The waiver of
premium does NOT include which provision?
An economic interest exists for the continuance of the insured's life - ANS-An individual most
likely will have an insurable interest in insuring a person's life if
an individual the means to replace wages - ANS-Loss of income insurance provides
An insurer's AM Best rating - ANS-All of these are considered forms of advertising EXCEPT
An S- corp owner with greater than 2% share - ANS-Which of the following is INELIGIBLE to
participate in section 125 plan?
annual earnings - ANS-The factor used most often when underwriting a disability income policy
is
application - ANS-The entire contract includes the actual policy and the
Page 2 of 11
