LIFE, ACCIDENT AND HEALTH INSURANCE STATE EXAM- OH NEWEST EXAM 2024 ACTUAL EXAM
COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS
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
,LIFE, ACCIDENT AND HEALTH INSURANCE STATE EXAM- OH NEWEST EXAM 2024 ACTUAL EXAM
COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS
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
shopping for annuity that guarantees he cannot outlive the benefits. which of these benefit options
would he choose - (answer) guaranteed lifetime withdrawal benefit
what is medicare part b known as - (answer) supplementary medical insurance
field underwriting performed by the producer involves - (answer) completing the application and
collecting initial premium
a life insurance policy which contains cash values that vary according to its investment performance of
stocks is called - (answer) variable whole life
a life insurance policy owner was injured in an automobile accident which results in total and permanent
disability. which rider would pay a monthly amount bc of this disability? - (answer) disability income
rider
pierre is covered by his employers group major medical plan. his employer pays for 75% of the premium
and he pays for 25%. how much would a 10000 benefit be taxable as income under this plan - (answer)
0
, LIFE, ACCIDENT AND HEALTH INSURANCE STATE EXAM- OH NEWEST EXAM 2024 ACTUAL EXAM
COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS
what is not an element of a valid contract - (answer) countersignature
a health insurance policy will typically cover - (answer) preventative health services
which settlement option involves having the proceeds remain with the insurer and earnings paid on a
monthly basis to the beneficiary? - (answer) interest only
all of the following are qualifications for establishing a health savings act (HSA) except - (answer)
enrolled in a health plan with a prescription drug benefit
legal purpose is a term used in contract law meaning - (answer) there must be legal reasons for
entering into the contract
donald is the primary insured of a life insurance policy and adds a children's term rider. what is the
advantage of adding this rider? - (answer) can be converted to a permanent coverage
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
COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS
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
,LIFE, ACCIDENT AND HEALTH INSURANCE STATE EXAM- OH NEWEST EXAM 2024 ACTUAL EXAM
COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS
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
shopping for annuity that guarantees he cannot outlive the benefits. which of these benefit options
would he choose - (answer) guaranteed lifetime withdrawal benefit
what is medicare part b known as - (answer) supplementary medical insurance
field underwriting performed by the producer involves - (answer) completing the application and
collecting initial premium
a life insurance policy which contains cash values that vary according to its investment performance of
stocks is called - (answer) variable whole life
a life insurance policy owner was injured in an automobile accident which results in total and permanent
disability. which rider would pay a monthly amount bc of this disability? - (answer) disability income
rider
pierre is covered by his employers group major medical plan. his employer pays for 75% of the premium
and he pays for 25%. how much would a 10000 benefit be taxable as income under this plan - (answer)
0
, LIFE, ACCIDENT AND HEALTH INSURANCE STATE EXAM- OH NEWEST EXAM 2024 ACTUAL EXAM
COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS
what is not an element of a valid contract - (answer) countersignature
a health insurance policy will typically cover - (answer) preventative health services
which settlement option involves having the proceeds remain with the insurer and earnings paid on a
monthly basis to the beneficiary? - (answer) interest only
all of the following are qualifications for establishing a health savings act (HSA) except - (answer)
enrolled in a health plan with a prescription drug benefit
legal purpose is a term used in contract law meaning - (answer) there must be legal reasons for
entering into the contract
donald is the primary insured of a life insurance policy and adds a children's term rider. what is the
advantage of adding this rider? - (answer) can be converted to a permanent coverage
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
