Ohio Accident and Health Final Exam
Questions with Correct Answers
When presenting long-term care or Medicare Supplement plans, it is necessary to
provide the prospect with a: - Answer-A Shoppers Guide for the product presented
For an insurance contract to be complete, it must comply with which of the following? -
Answer-A copy of the contract, all attached riders and a copy of the application must be
give to the insured
What type of benefits are paid under a hospital indemnity policy? - Answer-Specified
sum of money for the length of the hospital stay
When must an insurer's rates be filed with the Commissioner?
Select one: - Answer-Prior to usage
Where must the wording 'Accident Only Plan' be prominently displayed on an accident
only policy? - Answer-It must be in bold type on the front page of the policy.
Which of the following is not part of the Medicare Part B coverage? - Answer-Nursing
Home
Replacement is not always the best option for the insured because: - Answer-a. A new
policy could required the applicant to prove insurability
b. A new incontestable period will start with the issuance of the new policy.
c. The premiums for the new policy could be higher.
(all)
Robert is 65 and retired. What should he consider about delaying his enrollment in
Medicare Part B? - Answer-There is a 10% per year increase in premium which is
permanent.
Who or what is responsible for the governing of health insurance? - Answer-State
insurance laws
Which of the following is one of the major differences between private and government
insurance? - Answer-Private insurance can deny coverage to individuals.
The agent must provide an outline of coverage for a health policy to the applicant: -
Answer-Upon application or policy delivery
In discussing a long-term care program with a prospect, the agent should review which
of the following carefully? - Answer-The prospect's assets and financial situation
,All of the following are typical health policy exclusions, EXCEPT: - Answer-Injuries that
are the result of foolishness
Which of the following is a true statement about dependent coverage on group health
policies? - Answer-a. The dependent can be a natural child, step child or adopted child.
b. A child can be considered dependent after age 19 if he/she was disabled before that
time.
c. A child can be considered dependent after 19 if a full time student.
(all)
In the situation in which health insurance premiums are not tax-deductible, the benefits
are: - Answer-Tax-free, as long as they do not exceed the actual cost of medical
expenses
What is the traditional probationary (waiting) period for coverage from a Medicare
supplemental policy to be in effect? - Answer-30 days
An insured has received a claim form from the insurance company and has completed
the form with proper documentation of the loss. The insureds' policy provides periodic
payments for benefits. How much time does the insurance company have to pay the
claim? - Answer-30 days
What kind of policy pays $100 daily benefit for a hospital stay with no deductible?
Select one: - Answer-Imdemnity Plan
All of the following are elements of insurable risks, EXCEPT:
Select one: - Answer-Loss must be catastrophic
An insurance company whose main responsibility is to make money for its policyholders
is called a: - Answer-Mutual insurance company
Both spouses are covered by their employer group plans for full family coverage. Based
on usual guidelines, how is the order of coverage determined? - Answer-Primary
coverage is usually determined by which parent's birthday comes earliest in the year.
How are the premiums for an individual disability income policy and a Medicare
supplement policy treated on a tax basis? - Answer-Medicare supplement premiums are
deductible, disability income premiums are not deductible.
Which of the following is true about the Social Security rider in a disability income
policy? - Answer-a. The rider may or may not continue when Social Security benefits
start.
b. An all or nothing rider pays the insured a benefit if Social Security pays nothing.
, c. An offset rider pays the insured a benefit that is reduced by any benefit paid by Social
Security.
(all)
A noncancellable policy is most likely a: - Answer-Individual disability income policy
If a company fails to respond to a request for reinstatement, the policy will automatically
reinstate in how many days? - Answer-45 days
If, after a hearing, the Superintendent finds that an individual has engaged in an unfair
practice, the Superintendent can take all the following actions, EXCEPT: - Answer-Jail
the individual
Which of the following is part of the loss of earnings test for disability? - Answer-a.
Inability to perform duties of the insured's own occupation for 2 to 5 years
b. Inability to perform the duties of any suitable occupation
(Both)
When an insurance contract is a 'take it as is or leave it' situation, it is known as: -
Answer-Contract of Adhesion
Which of the following is NOT considered a limited policy? - Answer-Disability income
coverage
Isaac is enrolled in his employer's group plan on a non-contributory basis when he is
hospitalized. Isaac is reimbursed for the medical expense he incurred less a $500
deductible. How much of his benefits will be taxed? - Answer-Isaac will have no tax
liability, as medical benefits are not taxable.
Medicare Part A requires a deductible for a hospital stay. That deductible is expressed
in relation to the stay as: - Answer-A flat dollar amount
In Ohio, how many hours of continuing education are producers required to complete
during each compliance period? - Answer-24 hours
A person becomes eligible for Medicare when: - Answer-Part A is automatic for all
persons reaching Age 65
The principal losses related to accident and health insurance are: - Answer-Loss of
income from disability and medical expenses from the cost of medical treatments,
physician's fees, hospitalization and prescriptions
All of the following out of pocket expenses qualify for a medical deduction, EXCEPT: -
Answer-Disability insurance premium
Questions with Correct Answers
When presenting long-term care or Medicare Supplement plans, it is necessary to
provide the prospect with a: - Answer-A Shoppers Guide for the product presented
For an insurance contract to be complete, it must comply with which of the following? -
Answer-A copy of the contract, all attached riders and a copy of the application must be
give to the insured
What type of benefits are paid under a hospital indemnity policy? - Answer-Specified
sum of money for the length of the hospital stay
When must an insurer's rates be filed with the Commissioner?
Select one: - Answer-Prior to usage
Where must the wording 'Accident Only Plan' be prominently displayed on an accident
only policy? - Answer-It must be in bold type on the front page of the policy.
Which of the following is not part of the Medicare Part B coverage? - Answer-Nursing
Home
Replacement is not always the best option for the insured because: - Answer-a. A new
policy could required the applicant to prove insurability
b. A new incontestable period will start with the issuance of the new policy.
c. The premiums for the new policy could be higher.
(all)
Robert is 65 and retired. What should he consider about delaying his enrollment in
Medicare Part B? - Answer-There is a 10% per year increase in premium which is
permanent.
Who or what is responsible for the governing of health insurance? - Answer-State
insurance laws
Which of the following is one of the major differences between private and government
insurance? - Answer-Private insurance can deny coverage to individuals.
The agent must provide an outline of coverage for a health policy to the applicant: -
Answer-Upon application or policy delivery
In discussing a long-term care program with a prospect, the agent should review which
of the following carefully? - Answer-The prospect's assets and financial situation
,All of the following are typical health policy exclusions, EXCEPT: - Answer-Injuries that
are the result of foolishness
Which of the following is a true statement about dependent coverage on group health
policies? - Answer-a. The dependent can be a natural child, step child or adopted child.
b. A child can be considered dependent after age 19 if he/she was disabled before that
time.
c. A child can be considered dependent after 19 if a full time student.
(all)
In the situation in which health insurance premiums are not tax-deductible, the benefits
are: - Answer-Tax-free, as long as they do not exceed the actual cost of medical
expenses
What is the traditional probationary (waiting) period for coverage from a Medicare
supplemental policy to be in effect? - Answer-30 days
An insured has received a claim form from the insurance company and has completed
the form with proper documentation of the loss. The insureds' policy provides periodic
payments for benefits. How much time does the insurance company have to pay the
claim? - Answer-30 days
What kind of policy pays $100 daily benefit for a hospital stay with no deductible?
Select one: - Answer-Imdemnity Plan
All of the following are elements of insurable risks, EXCEPT:
Select one: - Answer-Loss must be catastrophic
An insurance company whose main responsibility is to make money for its policyholders
is called a: - Answer-Mutual insurance company
Both spouses are covered by their employer group plans for full family coverage. Based
on usual guidelines, how is the order of coverage determined? - Answer-Primary
coverage is usually determined by which parent's birthday comes earliest in the year.
How are the premiums for an individual disability income policy and a Medicare
supplement policy treated on a tax basis? - Answer-Medicare supplement premiums are
deductible, disability income premiums are not deductible.
Which of the following is true about the Social Security rider in a disability income
policy? - Answer-a. The rider may or may not continue when Social Security benefits
start.
b. An all or nothing rider pays the insured a benefit if Social Security pays nothing.
, c. An offset rider pays the insured a benefit that is reduced by any benefit paid by Social
Security.
(all)
A noncancellable policy is most likely a: - Answer-Individual disability income policy
If a company fails to respond to a request for reinstatement, the policy will automatically
reinstate in how many days? - Answer-45 days
If, after a hearing, the Superintendent finds that an individual has engaged in an unfair
practice, the Superintendent can take all the following actions, EXCEPT: - Answer-Jail
the individual
Which of the following is part of the loss of earnings test for disability? - Answer-a.
Inability to perform duties of the insured's own occupation for 2 to 5 years
b. Inability to perform the duties of any suitable occupation
(Both)
When an insurance contract is a 'take it as is or leave it' situation, it is known as: -
Answer-Contract of Adhesion
Which of the following is NOT considered a limited policy? - Answer-Disability income
coverage
Isaac is enrolled in his employer's group plan on a non-contributory basis when he is
hospitalized. Isaac is reimbursed for the medical expense he incurred less a $500
deductible. How much of his benefits will be taxed? - Answer-Isaac will have no tax
liability, as medical benefits are not taxable.
Medicare Part A requires a deductible for a hospital stay. That deductible is expressed
in relation to the stay as: - Answer-A flat dollar amount
In Ohio, how many hours of continuing education are producers required to complete
during each compliance period? - Answer-24 hours
A person becomes eligible for Medicare when: - Answer-Part A is automatic for all
persons reaching Age 65
The principal losses related to accident and health insurance are: - Answer-Loss of
income from disability and medical expenses from the cost of medical treatments,
physician's fees, hospitalization and prescriptions
All of the following out of pocket expenses qualify for a medical deduction, EXCEPT: -
Answer-Disability insurance premium
