Ohio life and health state exam
simulator questions and answers graded
A+
What type of policy would only provide coverage for specific type of illnesses? - correct answer
✔✔Dread disease insurance
Justin is receiving disability income benefits from a group policy paid for by his employer. How
are these benefits treated for tax purposes? - correct answer ✔✔taxable income
And insurance company needs to obtain personal information from a third-party concerning an
applicant. Which law do you all ensures in there producers need to comply with? - correct
answer ✔✔The fair credit reporting act
Under a disability income policy, which provision would be payable to the cause of an injury is
unexpected an accidental? - correct answer ✔✔Accidental bodily injury provision
A company that is authorized by the superintendent to transact insurance business in Ohio is
called? - correct answer ✔✔Authorized insurer
The entire contract includes actual policy and the - correct answer ✔✔application
The monthly benefit for an individual disability income policy is usually limited to a percentage
of the insured income in order to avoid - correct answer ✔✔Over insurance
Which of the following actions may insurance company not do in a healthy policy that contains
a guaranteed renewable premium benefit? - correct answer ✔✔Increase the premiums on an
individual basis
,I life insurance application in Ohio may backdate the application for up to___months - correct
answer ✔✔Three
Which of the following is considered to be an act of misrepresentation? - correct answer
✔✔Falsifying the terms, Benefits, advantages, or conditions of an insurance policy
Which of the following is not Part of an insurance contract? - correct answer ✔✔Certificate of
Authority
Which of the following is a legal entity created for the sole purpose of providing affordable
group health coverage to it's participants? - correct answer ✔✔Multiple employer welfare
arrangement (MEWA)
Which approach predicts a persons earning put tensional in determines how much of that
amount would be devoted to dependents? - correct answer ✔✔Human life value approach
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's
benefits must - correct answer ✔✔be the same and the premium cannot exceed 102%
Which of the following is Medicare B also known as - correct answer ✔✔Medical insurance
Which settlement option involves having the proceeds remain with the insurer and earning paid
on a monthly basis to the beneficiary - correct answer ✔✔Interest only
Which of these is a true statement regarding HIC 's? - correct answer ✔✔HIC's operate on a pre-
payment basis
, James is the insured on a life insurance policy where his age was missed stated on the
application. Which of the following is correct regarding the death benefit amount? - correct
answer ✔✔The death benefits paid will be what the premium would have purchased at the
correct age
All of the following are examples from the 10% tax penalty for early qualified plan with drawls
except? - correct answer ✔✔Stock purchases
All of these are characteristics of Major medical expense policy is except - correct answer
✔✔Elimination period
Under the Health Insurance Portability and Accountability Act (HIPAA), the employee's new
Group Health Plan will verify Creditable Coverage so that the - correct answer ✔✔employee's
waiting period for coverage of a preexisting condition can be reduced under the new employer's
health plan
A form of medical health insurance covering the treatment and care of gum disease is called -
correct answer ✔✔Dental expense insurance
Long-term care insurance applications must contain playing in unambiguous health questions.
The exception to this rule be applications for for - correct answer ✔✔Guaranteed issue
A life insurance claim which involves a per capita distribution of policy proceeds would be
payable to the - correct answer ✔✔named living primary beneficiaries
Non-admitted insurer - correct answer ✔✔Is not afforded protection by the guaranty fund
A life insurance policy sold in Ohio can be canceled for non-fraudulent miss statements for up to
- correct answer ✔✔Two years
simulator questions and answers graded
A+
What type of policy would only provide coverage for specific type of illnesses? - correct answer
✔✔Dread disease insurance
Justin is receiving disability income benefits from a group policy paid for by his employer. How
are these benefits treated for tax purposes? - correct answer ✔✔taxable income
And insurance company needs to obtain personal information from a third-party concerning an
applicant. Which law do you all ensures in there producers need to comply with? - correct
answer ✔✔The fair credit reporting act
Under a disability income policy, which provision would be payable to the cause of an injury is
unexpected an accidental? - correct answer ✔✔Accidental bodily injury provision
A company that is authorized by the superintendent to transact insurance business in Ohio is
called? - correct answer ✔✔Authorized insurer
The entire contract includes actual policy and the - correct answer ✔✔application
The monthly benefit for an individual disability income policy is usually limited to a percentage
of the insured income in order to avoid - correct answer ✔✔Over insurance
Which of the following actions may insurance company not do in a healthy policy that contains
a guaranteed renewable premium benefit? - correct answer ✔✔Increase the premiums on an
individual basis
,I life insurance application in Ohio may backdate the application for up to___months - correct
answer ✔✔Three
Which of the following is considered to be an act of misrepresentation? - correct answer
✔✔Falsifying the terms, Benefits, advantages, or conditions of an insurance policy
Which of the following is not Part of an insurance contract? - correct answer ✔✔Certificate of
Authority
Which of the following is a legal entity created for the sole purpose of providing affordable
group health coverage to it's participants? - correct answer ✔✔Multiple employer welfare
arrangement (MEWA)
Which approach predicts a persons earning put tensional in determines how much of that
amount would be devoted to dependents? - correct answer ✔✔Human life value approach
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's
benefits must - correct answer ✔✔be the same and the premium cannot exceed 102%
Which of the following is Medicare B also known as - correct answer ✔✔Medical insurance
Which settlement option involves having the proceeds remain with the insurer and earning paid
on a monthly basis to the beneficiary - correct answer ✔✔Interest only
Which of these is a true statement regarding HIC 's? - correct answer ✔✔HIC's operate on a pre-
payment basis
, James is the insured on a life insurance policy where his age was missed stated on the
application. Which of the following is correct regarding the death benefit amount? - correct
answer ✔✔The death benefits paid will be what the premium would have purchased at the
correct age
All of the following are examples from the 10% tax penalty for early qualified plan with drawls
except? - correct answer ✔✔Stock purchases
All of these are characteristics of Major medical expense policy is except - correct answer
✔✔Elimination period
Under the Health Insurance Portability and Accountability Act (HIPAA), the employee's new
Group Health Plan will verify Creditable Coverage so that the - correct answer ✔✔employee's
waiting period for coverage of a preexisting condition can be reduced under the new employer's
health plan
A form of medical health insurance covering the treatment and care of gum disease is called -
correct answer ✔✔Dental expense insurance
Long-term care insurance applications must contain playing in unambiguous health questions.
The exception to this rule be applications for for - correct answer ✔✔Guaranteed issue
A life insurance claim which involves a per capita distribution of policy proceeds would be
payable to the - correct answer ✔✔named living primary beneficiaries
Non-admitted insurer - correct answer ✔✔Is not afforded protection by the guaranty fund
A life insurance policy sold in Ohio can be canceled for non-fraudulent miss statements for up to
- correct answer ✔✔Two years
