Life Accident and Health Insurance State Exam OH
A person who is a nonsmoker, of average weight and in excellent health would most
likely be in which risk classification? - ANS-preferred
Preferred risk policies with reduced premiums are issued by insurance companies bc
the insured has - ANS-better than average mortality
The waiver of premium does NOT include which provision? - ANS-Al future premiums
are waived if the insured recovers from the disability
An advertisement for an insurance product may contain - ANS-the insurer's name
A medicare supplement plan can be canceled by the insurer - ANS-for nonpayment of
premiums
The principle of insurable interest, in regards to a life insurance contract, is accurately
described in which statement? - ANS-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? -
ANS-unpaid premium
An example of a health insuring corporation (HIC) specialty care provider is - ANS-
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? - ANS-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? - ANS-conversion
an agents appt has been terminated by insurer. the insurer must then notify the
superintendent within how many days of the termination? - ANS-30
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 - ANS-minus indebtedness and without interest
which of the following is considered to be an alternative to a life settlement? - ANS-
accelerated death benefit rider
, if the annuitant dies before the annuity start date, - ANS-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 - ANS-limited payment insurance
shopping for annuity that guarantees he cannot outlive the benefits. which of these
benefit options would he choose - ANS-guaranteed lifetime withdrawal benefit
what is medicare part b known as - ANS-supplementary medical insurance
field underwriting performed by the producer involves - ANS-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 - ANS-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? -
ANS-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 - ANS-0
what is not an element of a valid contract - ANS-countersignature
a health insurance policy will typically cover - ANS-preventative health services
which settlement option involves having the proceeds remain with the insurer and
earnings paid on a monthly basis to the beneficiary? - ANS-interest only
all of the following are qualifications for establishing a health savings act (HSA) except -
ANS-enrolled in a health plan with a prescription drug benefit
legal purpose is a term used in contract law meaning - ANS-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? - ANS-can be converted to a permanent
coverage
The factor used most often when underwriting a disability income policy is - ANS-annual
earnings
the free look period in ohio for individual health insurance policies is __ days - ANS-10
A person who is a nonsmoker, of average weight and in excellent health would most
likely be in which risk classification? - ANS-preferred
Preferred risk policies with reduced premiums are issued by insurance companies bc
the insured has - ANS-better than average mortality
The waiver of premium does NOT include which provision? - ANS-Al future premiums
are waived if the insured recovers from the disability
An advertisement for an insurance product may contain - ANS-the insurer's name
A medicare supplement plan can be canceled by the insurer - ANS-for nonpayment of
premiums
The principle of insurable interest, in regards to a life insurance contract, is accurately
described in which statement? - ANS-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? -
ANS-unpaid premium
An example of a health insuring corporation (HIC) specialty care provider is - ANS-
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? - ANS-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? - ANS-conversion
an agents appt has been terminated by insurer. the insurer must then notify the
superintendent within how many days of the termination? - ANS-30
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 - ANS-minus indebtedness and without interest
which of the following is considered to be an alternative to a life settlement? - ANS-
accelerated death benefit rider
, if the annuitant dies before the annuity start date, - ANS-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 - ANS-limited payment insurance
shopping for annuity that guarantees he cannot outlive the benefits. which of these
benefit options would he choose - ANS-guaranteed lifetime withdrawal benefit
what is medicare part b known as - ANS-supplementary medical insurance
field underwriting performed by the producer involves - ANS-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 - ANS-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? -
ANS-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 - ANS-0
what is not an element of a valid contract - ANS-countersignature
a health insurance policy will typically cover - ANS-preventative health services
which settlement option involves having the proceeds remain with the insurer and
earnings paid on a monthly basis to the beneficiary? - ANS-interest only
all of the following are qualifications for establishing a health savings act (HSA) except -
ANS-enrolled in a health plan with a prescription drug benefit
legal purpose is a term used in contract law meaning - ANS-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? - ANS-can be converted to a permanent
coverage
The factor used most often when underwriting a disability income policy is - ANS-annual
earnings
the free look period in ohio for individual health insurance policies is __ days - ANS-10
