Ohio Health and life insurance Study guides, Class notes & Summaries
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![Practice Exam - Ohio Life and Health Insurance 100% Accurate](/docpics/4413459/65be62195f104_4413459_121_171.jpeg)
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Practice Exam - Ohio Life and Health Insurance 100% Accurate
- Exam (elaborations) • 11 pages • 2024
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Which of these annuities require premium payments that vary from year to year? - ANSWER Flexible Premium Deferred Annuity 
 
A limited payment whole life policy provides lifetime protection - ANSWER lifetime protection 
 
Which of the following does Coordination of Benefits allow? - ANSWER Which of the following does Coordination of Benefits allow? Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim in paid 
 
Which approach predicts a person's earning ...
![Ohio Life and Health Practice Exam| Complete Questions & Answers!!](/docpics/4413447/65be6167ba327_4413447_121_171.jpeg)
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Ohio Life and Health Practice Exam| Complete Questions & Answers!!
- Exam (elaborations) • 11 pages • 2024
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Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? - ANSWER Life income 
 
Someone needing custodial care at home would require which type of coverage? - ANSWER Long term care coverage 
 
Which of these is not considered a supplemental health insuring corporation (HIC) service? - ANSWER Outpatient medical services 
 
An employer may qualify for health care tax credits through SHOP Marketplace if that employer has fewer than how many employees? -...
![Life Accident and Health Exam Ohio| 50 Questions| Correct Answers| Verified](/docpics/4413420/65be60368465a_4413420_121_171.jpeg)
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Life Accident and Health Exam Ohio| 50 Questions| Correct Answers| Verified
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Accidental Death Insurance - ANSWER A form of Health Insurance that provides payment if death of the insured results from an accident. Is often combined with dismemberment insurance 
 
Accumulation at Interest Option - ANSWER A dividend option under which the policy owner allows dividends to accumulate at interest with the company. Only the interest on the dividends is taxable as income. 
 
Aleatory Contract - ANSWER A contract in which both parties know that one or the other may receive more th...
![Ohio Life, Accident & Health Insurance Exam (Series 11-35), Life Insurance Basics Accurate 100%](/docpics/4413403/65be5f4c9dc48_4413403_121_171.jpeg)
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Ohio Life, Accident & Health Insurance Exam (Series 11-35), Life Insurance Basics Accurate 100%
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What type of report provides information about an applicant's hobbies, habits, and financial status? - ANSWER Investigative consumer report 
 
What are the three factors that determine the premium for a particular life insurance policy? - ANSWER Mortality, interest, expense 
 
How does the premium mode affect the total premium paid for insurance for the year? - ANSWER Higher frequency of payments will result in higher overall premium 
 
Can insurers advertise the existence of the guaranty assoc...
![Ohio State Exam Life and Health Insurance Accurate 100%](/docpics/4413364/65be5d3c5a4bb_4413364_121_171.jpeg)
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Ohio State Exam Life and Health Insurance Accurate 100%
- Exam (elaborations) • 6 pages • 2024
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What is the name of the provision which states that a copy of the application must be attached to the policy when issued? - ANSWER Entire Contract 
 
Which of the following is INELIGIBLE to participate in a Section 125 Plan? - ANSWER An S-Corp Owner with a greater than 2% share 
 
The reinstatement provision in a health insurance policy is - ANSWER mandatory 
 
A nonparticipating policy will - ANSWER not pay dividends 
 
Erica is 35 years old and owns an IRA. At what age can she begin to receive...
![Ohio Life Insurance Final Exam Accurate 100%](/docpics/4413340/65be5c7bc7216_4413340_121_171.jpeg)
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Ohio Life Insurance Final Exam Accurate 100%
- Exam (elaborations) • 9 pages • 2024
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Which of the following is usually the owner of the annuity? - ANSWER The annuitant 
 
Which of the following is not true of the straight life income option for annuities? - ANSWER A beneficiary will receive any balance of the annuity upon the annuitant's death. 
 
When an insurance policy is taken out, if the owner of the policy is someone other than the actual insured, the owner must be able to prove: - ANSWER That he/she has an insurable interest 
 
Tax-sheltered annuities (TSA) provide retir...
![OHIO Life Insurance Exam Correct 100%](/docpics/4413310/65be5b94231d1_4413310_121_171.jpeg)
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OHIO Life Insurance Exam Correct 100%
- Exam (elaborations) • 21 pages • 2024
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Insurance: - ANSWER A contract in which the insurance company agrees to indemnify the insured party against loss, damage or liability arising from an unknown event. 
 
Insurance Transfers: - ANSWER The risk of loss from an individual or business entity to an insurance company, which in turn spreads costs of unexpected losses to many individuals. 
 
Direct response marketing: - ANSWER A direct response marketing system effectively bypasses the insurance agent. Business is conducted over the phone...
![Ohio life and Health Insurance Practice Final Accurate 100%](/docpics/4413284/65be5ad7ef8c9_4413284_121_171.jpeg)
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Ohio life and Health Insurance Practice Final Accurate 100%
- Exam (elaborations) • 11 pages • 2024
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Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax-deductible when paid for which of the following plans? - ANSWER Qualified Long-Term Care plan 
 
All _____ policies must be guaranteed renewable. - ANSWER long-term care 
 
An attending physician's statement would be appropriate for which life insurance purpose? - ANSWER At the request of the insurer to assist in the underwriting decision 
 
Craig submits a $500 claim for medical expenses. With a past due prem...
![life, accident and health insurance state exam- OH Complete Questions & Solutions](/docpics/4413207/65be5668b9da0_4413207_121_171.jpeg)
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life, accident and health insurance state exam- OH Complete Questions & Solutions
- Exam (elaborations) • 14 pages • 2024
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A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? - ANSWER preferred
![Ohio Life insurance Exam| 100 Questions| Correct 100%](/docpics/4413191/65be55b97fcc8_4413191_121_171.jpeg)
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Ohio Life insurance Exam| 100 Questions| Correct 100%
- Exam (elaborations) • 10 pages • 2024
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A life insurance company has transferred some of its risk to another insure. The insurer assuming the risk is called - ANSWER 
 
all of the following are examples of business continuation plan except - ANSWER Deffered Compensation 
 
All of these are valid options for an Adjustable Life Policy EXCEPT 
 The policy's premium can be increased or decreased 
 The policy's death benefit can be increased or decreased 
 A nonforfeiture option can be used to increase the death benefit 
 The policy's ...
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