OHIO LIFE INSURANCE 2026 EXAM SCRIPT QUESTIONS
AND SOLUTIONS RATED A+
✔✔What is the tax liability for employer contributions in Health Savings Accounts
(HSA's)? - ✔✔No tax payment needed
✔✔Mark continues working after the age of 65 and is covered through his employer's
group health plan. Which of the following statements is TRUE? - ✔✔Medicare is the
secondary payer
✔✔What is known as the immediate specific event causing loss and giving rise to risk? -
✔✔Peril
✔✔The open enrollment period for Medicare Supplements begins at age - ✔✔65
✔✔All of the following are considered appropriate uses of life insurance for business
purposes EXCEPT - ✔✔Protecting the business by covering key employees with life
insurance
✔✔Which type of life insurance policy pays the face amount at the end of the specified
period if the insured is still alive? - ✔✔Endowment policy
✔✔A licensed agent who lives in another state and transacts insurance in Ohio is called
- ✔✔a nonresident agent
✔✔The IRS states that a taxpayer's medical expenses that exceed 7.5% of their
adjusted gross income is tax deductible. Which of the following may be considered a
medical expense under this rule? - ✔✔Long Term Care Insurance premiums
✔✔What is the primary factor that determines the benefits paid under a disability
income policy? - ✔✔Wages
✔✔A licensee who is required to take continuing education must include how many
ethics coursework hours? - ✔✔3
✔✔Julie has a $100,000 30-year mortgage on her new home. What type of life
insurance could she purchase that is designed to pay off the loan balance if she dies
within the 30-year period? - ✔✔Decreasing term insurance
✔✔Which approach predicts a person's earning potential and determines how much of
that amount would be devoted to dependents? - ✔✔Human life value approach
, ✔✔The premium for a Modified whole life policy is - ✔✔lower than the typical whole life
policy during the first few years and then higher than typical for the remainder
✔✔In Ohio, when an advertisement for accident and health insurance refers to dollar
amount benefits, the advertisement must also disclose - ✔✔Any applicable benefit
reduction
✔✔Medical Expense Insurance would cover - ✔✔an injury occurring at the insured's
residence
✔✔What is issued to each employee of an employer health plan? - ✔✔Certificate
✔✔Matt is applying for life insurance and requests a double indemnity rider. A double
indemnity benefit will be payable to Matt's beneficiary if Matt - ✔✔dies instantly from a
car accident
✔✔Which of the following statements is TRUE about an insurer's right to screen
applicants for HIV? - ✔✔An insurer can require a blood test for HIV
✔✔If the annuitant dies before the annuity start date, - ✔✔the premiums paid plus
interest earned will be given to the beneficiary
✔✔A life insurance policy normally contains a provision that restricts coverage in the
event of death under all of the following situations EXCEPT - ✔✔fare-paying passenger
✔✔An insurer has a right to screen applicants for HIV in which of the following ways? -
✔✔Blood test for HIV
✔✔The difference between a Long Term Care Partnership Plan and a Non-Partnership
Plan is which of the following? - ✔✔Asset Protection
✔✔All of these are valid policy dividend options for a life insurance policyowner
EXCEPT - ✔✔accumulate without interest
✔✔Joe has a life insurance policy that has a face amount of $300,000. After a number
of years, the policy's cash value accumulates to $50,000 and the face amount becomes
$350,000. What kind of policy is this? - ✔✔Universal Life policy
✔✔Proceeds from a life insurance policy are protected from the beneficiary's creditors
by which clause? - ✔✔spendthrift trust clause
✔✔All of the following are defined as supplemental health insuring corporation (HIC)
services EXCEPT - ✔✔outpatient medical services
AND SOLUTIONS RATED A+
✔✔What is the tax liability for employer contributions in Health Savings Accounts
(HSA's)? - ✔✔No tax payment needed
✔✔Mark continues working after the age of 65 and is covered through his employer's
group health plan. Which of the following statements is TRUE? - ✔✔Medicare is the
secondary payer
✔✔What is known as the immediate specific event causing loss and giving rise to risk? -
✔✔Peril
✔✔The open enrollment period for Medicare Supplements begins at age - ✔✔65
✔✔All of the following are considered appropriate uses of life insurance for business
purposes EXCEPT - ✔✔Protecting the business by covering key employees with life
insurance
✔✔Which type of life insurance policy pays the face amount at the end of the specified
period if the insured is still alive? - ✔✔Endowment policy
✔✔A licensed agent who lives in another state and transacts insurance in Ohio is called
- ✔✔a nonresident agent
✔✔The IRS states that a taxpayer's medical expenses that exceed 7.5% of their
adjusted gross income is tax deductible. Which of the following may be considered a
medical expense under this rule? - ✔✔Long Term Care Insurance premiums
✔✔What is the primary factor that determines the benefits paid under a disability
income policy? - ✔✔Wages
✔✔A licensee who is required to take continuing education must include how many
ethics coursework hours? - ✔✔3
✔✔Julie has a $100,000 30-year mortgage on her new home. What type of life
insurance could she purchase that is designed to pay off the loan balance if she dies
within the 30-year period? - ✔✔Decreasing term insurance
✔✔Which approach predicts a person's earning potential and determines how much of
that amount would be devoted to dependents? - ✔✔Human life value approach
, ✔✔The premium for a Modified whole life policy is - ✔✔lower than the typical whole life
policy during the first few years and then higher than typical for the remainder
✔✔In Ohio, when an advertisement for accident and health insurance refers to dollar
amount benefits, the advertisement must also disclose - ✔✔Any applicable benefit
reduction
✔✔Medical Expense Insurance would cover - ✔✔an injury occurring at the insured's
residence
✔✔What is issued to each employee of an employer health plan? - ✔✔Certificate
✔✔Matt is applying for life insurance and requests a double indemnity rider. A double
indemnity benefit will be payable to Matt's beneficiary if Matt - ✔✔dies instantly from a
car accident
✔✔Which of the following statements is TRUE about an insurer's right to screen
applicants for HIV? - ✔✔An insurer can require a blood test for HIV
✔✔If the annuitant dies before the annuity start date, - ✔✔the premiums paid plus
interest earned will be given to the beneficiary
✔✔A life insurance policy normally contains a provision that restricts coverage in the
event of death under all of the following situations EXCEPT - ✔✔fare-paying passenger
✔✔An insurer has a right to screen applicants for HIV in which of the following ways? -
✔✔Blood test for HIV
✔✔The difference between a Long Term Care Partnership Plan and a Non-Partnership
Plan is which of the following? - ✔✔Asset Protection
✔✔All of these are valid policy dividend options for a life insurance policyowner
EXCEPT - ✔✔accumulate without interest
✔✔Joe has a life insurance policy that has a face amount of $300,000. After a number
of years, the policy's cash value accumulates to $50,000 and the face amount becomes
$350,000. What kind of policy is this? - ✔✔Universal Life policy
✔✔Proceeds from a life insurance policy are protected from the beneficiary's creditors
by which clause? - ✔✔spendthrift trust clause
✔✔All of the following are defined as supplemental health insuring corporation (HIC)
services EXCEPT - ✔✔outpatient medical services
