Ohio State Exam Life and Health Insurance
Questions and Answers () (Verified
Answers)
Which of these is a method of determining the level of funds
required for ongoing support in the event of the
breadwinner's death? - CORRECT ANSWER Human life
value
Which of the following signatures is not required on an
individual insurance application? - CORRECT ANSWER
Insurer
Insurance companies determine risk exposure by which of
the following? - CORRECT ANSWER law of large numbers
and risk pooling
Which of these is a TRUE statement regarding HIC's? -
CORRECT ANSWER HIC's operate on a prepayment basis.
Which of these is NOT considered a supplemental health
insuring corporation (HIC) service? - CORRECT ANSWER
outpatient medical services
How much does Medicare Part B pay for physician fees? -
CORRECT ANSWER 80%
A minor may receive a life insurance policy's death benefit
ONLY - CORRECT ANSWER if the minor has an appointed
guardian
, An insurer has the right to recover payment made to the
insured from the negligent party. These rights are called -
CORRECT ANSWER subrogation
Under a non-qualified annuity, interest is taxed after the -
CORRECT ANSWER exclusion ration has been calculated
A person who is a nonsmoker, of average weight, and in
excellent health would most likely be in which risk
classification? - CORRECT ANSWER Preferred
The gatekeeper's role when used by an HMO is - CORRECT
ANSWER obtaining referrals to specialists from primary care
physicians
The premium payment mode that results in the highest
overall cost would be - CORRECT ANSWER monthly
Mary's Medicare Supplement policy had been in effect for 12
months. She recently replaced the policy with a new one that
provides better coverage. The replacing policy may only
impose a ____ month time exclusion for pre-existing
conditions. - CORRECT ANSWER 0
What is known as the immediate specific event causing loss
and giving rise to risk? - CORRECT ANSWER peril
What is the primary factor that determines the benefits paid
under a disability income policy? - CORRECT ANSWER
wages
Andy the annuitant dies before the annuity start date. Which
of the following is a TRUE statement? - CORRECT ANSWER
Premiums paid plus interest earned is returned to the
beneficiary
Questions and Answers () (Verified
Answers)
Which of these is a method of determining the level of funds
required for ongoing support in the event of the
breadwinner's death? - CORRECT ANSWER Human life
value
Which of the following signatures is not required on an
individual insurance application? - CORRECT ANSWER
Insurer
Insurance companies determine risk exposure by which of
the following? - CORRECT ANSWER law of large numbers
and risk pooling
Which of these is a TRUE statement regarding HIC's? -
CORRECT ANSWER HIC's operate on a prepayment basis.
Which of these is NOT considered a supplemental health
insuring corporation (HIC) service? - CORRECT ANSWER
outpatient medical services
How much does Medicare Part B pay for physician fees? -
CORRECT ANSWER 80%
A minor may receive a life insurance policy's death benefit
ONLY - CORRECT ANSWER if the minor has an appointed
guardian
, An insurer has the right to recover payment made to the
insured from the negligent party. These rights are called -
CORRECT ANSWER subrogation
Under a non-qualified annuity, interest is taxed after the -
CORRECT ANSWER exclusion ration has been calculated
A person who is a nonsmoker, of average weight, and in
excellent health would most likely be in which risk
classification? - CORRECT ANSWER Preferred
The gatekeeper's role when used by an HMO is - CORRECT
ANSWER obtaining referrals to specialists from primary care
physicians
The premium payment mode that results in the highest
overall cost would be - CORRECT ANSWER monthly
Mary's Medicare Supplement policy had been in effect for 12
months. She recently replaced the policy with a new one that
provides better coverage. The replacing policy may only
impose a ____ month time exclusion for pre-existing
conditions. - CORRECT ANSWER 0
What is known as the immediate specific event causing loss
and giving rise to risk? - CORRECT ANSWER peril
What is the primary factor that determines the benefits paid
under a disability income policy? - CORRECT ANSWER
wages
Andy the annuitant dies before the annuity start date. Which
of the following is a TRUE statement? - CORRECT ANSWER
Premiums paid plus interest earned is returned to the
beneficiary
