1|Page
OHIO Health And Life Insurance Exam |
Comprehensive Key Questions With
correct Answers
All of these are valid policy dividend options for a life insurance policyowner
EXCEPT-correct-answer-accumulate without interest
A life insurance policyowner is allowed______ days upon policy delivery to return
the policy for a full premium refund-correct-answer-10
All of the following are considered to be nonforfeiture options available to a
policyowner EXCEPT-correct-answer-Reduction of premium
An interest-sensitive life insurance policyowner may be able to withdraw the
policy's cash value interest free. The provision that allows this is called-correct-
answer-Partial Surrender
A life insurance applicant in Ohio may backdate the application for up to _______
month(s)-correct-answer-3
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Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash
value. She would like to borrow $15,000 against the cash value. Which of the
following statements is TRUE?-correct-answer-Net death benefit will be reduced if
the loan is not repaid
Which of these is NOT considered a supplemental health insuring corporation
(HIC) service?-correct-answer-outpatient medical services
A client told an intentional lie to an insurer to receive a favorable premium. This is
an example of-correct-answer-fraud
Which of the following is INELIGIBLE to participate in section 125 plan?-correct-
answer-An S- corp owner with greater than 2% share
Where would policy proceeds be paid if both the insured and primary beneficiary
were killed in the same accident?-correct-answer-contingent beneficiary
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What will the beneficiary receive if an annuitant dies during the accumulation
period?-correct-answer-The greater of the accumulated cash value or the total
premium paid
Shirley has a Medigap policy, which is designed to pay costs associated with-
correct-answer-Medicare parts A and B
Major medical insurance will typically cover medical expenses that result from-
correct-answer-a negative reaction to a prescribed medication
Sole proprietors are permitted tax deductions for health costs paid from their
earnings in the amount of-correct-answer-100% of costs
Unmarried children who are incapable of self support and have proof of incapacity
are included under their parent's health coverage until-correct-answer-policy
termination
Kristi purchases an annuity that will pay her husband an income for 15 years. If he
dies, this income will become payable to their children for the remainder of the
period. Kristi has what kind of annuity?-correct-answer-Temporary annuity certain
OHIO Health And Life Insurance Exam |
Comprehensive Key Questions With
correct Answers
All of these are valid policy dividend options for a life insurance policyowner
EXCEPT-correct-answer-accumulate without interest
A life insurance policyowner is allowed______ days upon policy delivery to return
the policy for a full premium refund-correct-answer-10
All of the following are considered to be nonforfeiture options available to a
policyowner EXCEPT-correct-answer-Reduction of premium
An interest-sensitive life insurance policyowner may be able to withdraw the
policy's cash value interest free. The provision that allows this is called-correct-
answer-Partial Surrender
A life insurance applicant in Ohio may backdate the application for up to _______
month(s)-correct-answer-3
,2|Page
Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash
value. She would like to borrow $15,000 against the cash value. Which of the
following statements is TRUE?-correct-answer-Net death benefit will be reduced if
the loan is not repaid
Which of these is NOT considered a supplemental health insuring corporation
(HIC) service?-correct-answer-outpatient medical services
A client told an intentional lie to an insurer to receive a favorable premium. This is
an example of-correct-answer-fraud
Which of the following is INELIGIBLE to participate in section 125 plan?-correct-
answer-An S- corp owner with greater than 2% share
Where would policy proceeds be paid if both the insured and primary beneficiary
were killed in the same accident?-correct-answer-contingent beneficiary
, 3|Page
What will the beneficiary receive if an annuitant dies during the accumulation
period?-correct-answer-The greater of the accumulated cash value or the total
premium paid
Shirley has a Medigap policy, which is designed to pay costs associated with-
correct-answer-Medicare parts A and B
Major medical insurance will typically cover medical expenses that result from-
correct-answer-a negative reaction to a prescribed medication
Sole proprietors are permitted tax deductions for health costs paid from their
earnings in the amount of-correct-answer-100% of costs
Unmarried children who are incapable of self support and have proof of incapacity
are included under their parent's health coverage until-correct-answer-policy
termination
Kristi purchases an annuity that will pay her husband an income for 15 years. If he
dies, this income will become payable to their children for the remainder of the
period. Kristi has what kind of annuity?-correct-answer-Temporary annuity certain
