OHIO LIFE INSURANCE COMPREHENSIVE 2026 EXAM
QUESTIONS AND SOLUTIONS RATED A+
✔✔With the majority of companies, within how many days does the free-look provision
allow the insured the right to return the life insurance policy for full premium? - ✔✔10
days
✔✔When an insured changes to a more hazardous occupation, which disability policy
provision allows an insurer to adjust policy benefits and rates? - ✔✔Change of
occupation provision
✔✔No insurer, agent, broker, solicitor, or person, in connection with an insurance
transaction shall offer or promise to buy, sell, give, or allow the prospective insured
employment, stock or special favors. This is the definition of - ✔✔inducement
✔✔The automatic premium loan provision authorizes an insurer to withdraw from a
policy's cash value the amount of - ✔✔past due premiums that have not been paid by
the end of the grace period
✔✔Lisa has recently bought a fixed annuity. Which of these is considered to be a
disadvantage of owning this type of annuity? - ✔✔During periods of inflation, annuitants
will experience a decrease in purchasing power of their payments
✔✔An annuity is primarily used to provide - ✔✔retirement income
✔✔A life insurance policy which contains cash values that vary according to its
investment performance of stocks is called - ✔✔Variable Whole Life
✔✔Which type of clause describes the following statement: "We have issued the policy
in consideration of the representations in your applications and payment of the first-term
premium". - ✔✔Consideration clause
✔✔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 - ✔✔Partial Surrender
✔✔Which of the following is a health insuring corporation (HIC) provider of specialty
care? - ✔✔A neurologist
✔✔To receive proceeds from a death benefit, a minor - ✔✔must have an appointed
guardian
✔✔Bill requires some nursing care and supervision but NOT full-time care. Which of
these nursing home options would best serve him? - ✔✔Assisted living
, ✔✔Which type of coverage pays an amount per day for hospitalization directly to the
insured regardless of the insured's other health insurance? - ✔✔Hospital indemnity
✔✔Which of these riders will pay a death benefit if the insured's spouse dies? -
✔✔Family term insurance rider
✔✔The taxable portion of each annuity payment is calculated using which method? -
✔✔Exclusion Ratio
✔✔What is the renewal date of a resident insurance agent's license? - ✔✔On or before
the last day of the licensee's birth month
✔✔Health insurance will typically cover which of the following perils? - ✔✔Injury due to
accident
✔✔How long can an insurer exclude coverage for a preexisting condition on a Medicare
Supplement Policy? - ✔✔6 months
✔✔A securities license is required for a life insurance producer to sell - ✔✔variable life
insurance
✔✔When the insured gives birth, coverage for eligible newly born children consists of
coverage for injury or sickness including - ✔✔birth abnormalities
✔✔A change in an insurance application requires - ✔✔an initial made by the applicantv
✔✔Which disability policy provision would address any concerns of the value of the
benefits decreasing over time? - ✔✔Cost of living benefit
✔✔A health insuring corporation (HIC) member receives all preventative and routine
medical care from the - ✔✔Primary care physician
✔✔An insured individual and the policy's beneficiary die from the same accident. The
common disaster provision states the insurer will continue as if - ✔✔the insured outlived
the beneficiary
✔✔All of these are standard exclusions found in a life insurance policy EXCEPT -
✔✔disability
✔✔A common exclusion with Vision plans is - ✔✔lasik surgery
QUESTIONS AND SOLUTIONS RATED A+
✔✔With the majority of companies, within how many days does the free-look provision
allow the insured the right to return the life insurance policy for full premium? - ✔✔10
days
✔✔When an insured changes to a more hazardous occupation, which disability policy
provision allows an insurer to adjust policy benefits and rates? - ✔✔Change of
occupation provision
✔✔No insurer, agent, broker, solicitor, or person, in connection with an insurance
transaction shall offer or promise to buy, sell, give, or allow the prospective insured
employment, stock or special favors. This is the definition of - ✔✔inducement
✔✔The automatic premium loan provision authorizes an insurer to withdraw from a
policy's cash value the amount of - ✔✔past due premiums that have not been paid by
the end of the grace period
✔✔Lisa has recently bought a fixed annuity. Which of these is considered to be a
disadvantage of owning this type of annuity? - ✔✔During periods of inflation, annuitants
will experience a decrease in purchasing power of their payments
✔✔An annuity is primarily used to provide - ✔✔retirement income
✔✔A life insurance policy which contains cash values that vary according to its
investment performance of stocks is called - ✔✔Variable Whole Life
✔✔Which type of clause describes the following statement: "We have issued the policy
in consideration of the representations in your applications and payment of the first-term
premium". - ✔✔Consideration clause
✔✔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 - ✔✔Partial Surrender
✔✔Which of the following is a health insuring corporation (HIC) provider of specialty
care? - ✔✔A neurologist
✔✔To receive proceeds from a death benefit, a minor - ✔✔must have an appointed
guardian
✔✔Bill requires some nursing care and supervision but NOT full-time care. Which of
these nursing home options would best serve him? - ✔✔Assisted living
, ✔✔Which type of coverage pays an amount per day for hospitalization directly to the
insured regardless of the insured's other health insurance? - ✔✔Hospital indemnity
✔✔Which of these riders will pay a death benefit if the insured's spouse dies? -
✔✔Family term insurance rider
✔✔The taxable portion of each annuity payment is calculated using which method? -
✔✔Exclusion Ratio
✔✔What is the renewal date of a resident insurance agent's license? - ✔✔On or before
the last day of the licensee's birth month
✔✔Health insurance will typically cover which of the following perils? - ✔✔Injury due to
accident
✔✔How long can an insurer exclude coverage for a preexisting condition on a Medicare
Supplement Policy? - ✔✔6 months
✔✔A securities license is required for a life insurance producer to sell - ✔✔variable life
insurance
✔✔When the insured gives birth, coverage for eligible newly born children consists of
coverage for injury or sickness including - ✔✔birth abnormalities
✔✔A change in an insurance application requires - ✔✔an initial made by the applicantv
✔✔Which disability policy provision would address any concerns of the value of the
benefits decreasing over time? - ✔✔Cost of living benefit
✔✔A health insuring corporation (HIC) member receives all preventative and routine
medical care from the - ✔✔Primary care physician
✔✔An insured individual and the policy's beneficiary die from the same accident. The
common disaster provision states the insurer will continue as if - ✔✔the insured outlived
the beneficiary
✔✔All of these are standard exclusions found in a life insurance policy EXCEPT -
✔✔disability
✔✔A common exclusion with Vision plans is - ✔✔lasik surgery
