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OHIO LIFE/HEALTH INSURANCE TEST BANK NEWEST 2025/2026
ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||PROFESSOR VERIFIED||
An insurer may refuse to renew an employer's small group health
plan due to - ANSWER-nonpayment of premium
Which of these is a method of determining the level of funds
required for ongoing support in the event of the breadwinner's
death? - ANSWER-Human Life Value
A Long-term care policy typically provides all of the following
levels of care EXCEPT - ANSWER-acute care
Pre-death distributions from a modified endowment contract
(MEC) receive different tax treatment than other life insurance
policies because - ANSWER-the MEC tends to be an investment
vehicle
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An employer with under 20 employees must allow a terminated
employee to continue accident and health coverage for a
MINIMUM of ____months. - ANSWER-12
How does one become eligible for Part D: Prescription Drug
coverage? - ANSWER-must have Medicare
Which of these is NOT a legal reason for an HIC to release a
subscriber's confidential health information? - ANSWER-Public
interest
What happens to interest earned if the annuitant dies before the
payout start date? - ANSWER-it is taxable
Which of the following is NOT part of an insurance contract? -
ANSWER-Certificate of Authority
A life insurance policy that has premiums fully paid up within a
stated time period is called - ANSWER-limited payment insurance
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Which of the following is NOT a type of Medicare Advantage
Plan? - ANSWER-Social Security Disability Income (SSDI)
Which of these statements about Medicaid is CORRECT? -
ANSWER-Funded by federal, state, and local taxes
An endorsement found in an insurance plan which modifies the
provisions of the policy is called a(n) - ANSWER-rider
When an insured has a major medical plan with first dollar
coverage, how does this impact the benefits paid? - ANSWER-No
deductible payment is required
A rehabilitation benefit is intended to - ANSWER-prepare the
insured to return to employment
James is the insured on a life insurance policy where his age was
misstated on the application. Which of the following is CORRECT
regarding the death benefit amount? - ANSWER-The death
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benefit paid will be what the premium would have purchased at
the correct age
According to HIPAA, when an insured individual leaves an
employer and immediately begins working for a new company
that offers group health insurance, the individual - ANSWER-is
eligible for coverage upon hire
An agent's renewal date for his/her license is on or before -
ANSWER-the last day of the licensee's birth month
Which situation accurately describes a reduced paid- up
nonforfeiture option? - ANSWER-Policy has a decreased face
amount
Under the Affordable Care Act, a large employer that does NOT
provide health insurance and owes an employer mandate penalty
MUST pay an annual penalty, which is calculated by multiplying
$2,000 by - ANSWER-the number of full time employees minus
30
OHIO LIFE/HEALTH INSURANCE TEST BANK NEWEST 2025/2026
ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||PROFESSOR VERIFIED||
An insurer may refuse to renew an employer's small group health
plan due to - ANSWER-nonpayment of premium
Which of these is a method of determining the level of funds
required for ongoing support in the event of the breadwinner's
death? - ANSWER-Human Life Value
A Long-term care policy typically provides all of the following
levels of care EXCEPT - ANSWER-acute care
Pre-death distributions from a modified endowment contract
(MEC) receive different tax treatment than other life insurance
policies because - ANSWER-the MEC tends to be an investment
vehicle
,2|Page
An employer with under 20 employees must allow a terminated
employee to continue accident and health coverage for a
MINIMUM of ____months. - ANSWER-12
How does one become eligible for Part D: Prescription Drug
coverage? - ANSWER-must have Medicare
Which of these is NOT a legal reason for an HIC to release a
subscriber's confidential health information? - ANSWER-Public
interest
What happens to interest earned if the annuitant dies before the
payout start date? - ANSWER-it is taxable
Which of the following is NOT part of an insurance contract? -
ANSWER-Certificate of Authority
A life insurance policy that has premiums fully paid up within a
stated time period is called - ANSWER-limited payment insurance
,3|Page
Which of the following is NOT a type of Medicare Advantage
Plan? - ANSWER-Social Security Disability Income (SSDI)
Which of these statements about Medicaid is CORRECT? -
ANSWER-Funded by federal, state, and local taxes
An endorsement found in an insurance plan which modifies the
provisions of the policy is called a(n) - ANSWER-rider
When an insured has a major medical plan with first dollar
coverage, how does this impact the benefits paid? - ANSWER-No
deductible payment is required
A rehabilitation benefit is intended to - ANSWER-prepare the
insured to return to employment
James is the insured on a life insurance policy where his age was
misstated on the application. Which of the following is CORRECT
regarding the death benefit amount? - ANSWER-The death
, 4|Page
benefit paid will be what the premium would have purchased at
the correct age
According to HIPAA, when an insured individual leaves an
employer and immediately begins working for a new company
that offers group health insurance, the individual - ANSWER-is
eligible for coverage upon hire
An agent's renewal date for his/her license is on or before -
ANSWER-the last day of the licensee's birth month
Which situation accurately describes a reduced paid- up
nonforfeiture option? - ANSWER-Policy has a decreased face
amount
Under the Affordable Care Act, a large employer that does NOT
provide health insurance and owes an employer mandate penalty
MUST pay an annual penalty, which is calculated by multiplying
$2,000 by - ANSWER-the number of full time employees minus
30
