Ohio life and Health Insurance Practice
Final Exam 2026 Questions and Answers
Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI)
are tax-deductible when paid for which of the following plans? - Correct answer-
Qualified Long-Term Care plan
All _____ policies must be guaranteed renewable. - Correct answer-long-term care
An attending physician's statement would be appropriate for which life insurance
purpose? - Correct answer-At the request of the insurer to assist in the underwriting
decision
Craig submits a $500 claim for medical expenses. With a past due premium of
$100, the insurer pays $400. Which of the Uniform Optional Provisions covers this
situation? - Correct answer-Unpaid premium
Of the following dividend options, which of these is taxable? - Correct answer-
Accumulation at interest
An endorsement found in an insurance plan which modifies the provisions of the
policy is called a(n) - Correct answer-Rider
©COPYRIGHT 2025, ALL RIGHTS RESERVE 1
,Which of the following statements is CORRECT regarding an individual applying
for life or health insurance? - Correct answer-The applicant's medical history may
be analyzed and reported
Sole proprietors are permitted tax deductions for health costs paid from their
earnings in the amount of - Correct answer-100% of costs
Kate has a Major Medical Plan with a 75/25 coinsurance and a deductible of $25.
How much will she have to pay if she, not having met any of her deductible, visits
the doctor and receives a bill for $125? - Correct answer-$50.00
When calculating the amount of life insurance needed for an income earner, what
has to be determined when using the Needs Approach? - Correct answer-The
family's financial objectives if the income earner were to die or become disabled
A plan in which an employer pays insurance benefits from a fund derived from the
employer's current revenues is called - Correct answer-A self-funded plan
If an insured's age on a life insurance policy has been misstated, what is the
insurer's liability if the insured dies? - Correct answer-A prorated death benefit
based on the amount of insurance the insured's premiums would have been if
purchased at the correct age
©COPYRIGHT 2025, ALL RIGHTS RESERVE 2
, Which of the following is permitted in an advertisement for an insurance policy? -
Correct answer-The insurer's name
Which type of rider will waive the premium on a child's life insurance policy if the
parent paying the premium dies? - Correct answer-Payor benefit
A type of insurer that is owned by its policyowners is called - Correct answer-
mutual
An annuitant dies during the distribution period. What kind of annuity will return
to a beneficiary the difference between the annuity value and the income payments
already made? - Correct answer-Refund annuity
A form of medical health insurance covering the treatment and care of gum disease
is called - Correct answer-Dental expense insurance
Under a life insurance policy, what does the insuring clause state? - Correct
answer-The insurer's obligation to pay a death benefit upon an approved death
claim
Coming from an insurance point of view, which of the following is the main risk
associated with disability? - Correct answer-Loss of income
©COPYRIGHT 2025, ALL RIGHTS RESERVE 3
Final Exam 2026 Questions and Answers
Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI)
are tax-deductible when paid for which of the following plans? - Correct answer-
Qualified Long-Term Care plan
All _____ policies must be guaranteed renewable. - Correct answer-long-term care
An attending physician's statement would be appropriate for which life insurance
purpose? - Correct answer-At the request of the insurer to assist in the underwriting
decision
Craig submits a $500 claim for medical expenses. With a past due premium of
$100, the insurer pays $400. Which of the Uniform Optional Provisions covers this
situation? - Correct answer-Unpaid premium
Of the following dividend options, which of these is taxable? - Correct answer-
Accumulation at interest
An endorsement found in an insurance plan which modifies the provisions of the
policy is called a(n) - Correct answer-Rider
©COPYRIGHT 2025, ALL RIGHTS RESERVE 1
,Which of the following statements is CORRECT regarding an individual applying
for life or health insurance? - Correct answer-The applicant's medical history may
be analyzed and reported
Sole proprietors are permitted tax deductions for health costs paid from their
earnings in the amount of - Correct answer-100% of costs
Kate has a Major Medical Plan with a 75/25 coinsurance and a deductible of $25.
How much will she have to pay if she, not having met any of her deductible, visits
the doctor and receives a bill for $125? - Correct answer-$50.00
When calculating the amount of life insurance needed for an income earner, what
has to be determined when using the Needs Approach? - Correct answer-The
family's financial objectives if the income earner were to die or become disabled
A plan in which an employer pays insurance benefits from a fund derived from the
employer's current revenues is called - Correct answer-A self-funded plan
If an insured's age on a life insurance policy has been misstated, what is the
insurer's liability if the insured dies? - Correct answer-A prorated death benefit
based on the amount of insurance the insured's premiums would have been if
purchased at the correct age
©COPYRIGHT 2025, ALL RIGHTS RESERVE 2
, Which of the following is permitted in an advertisement for an insurance policy? -
Correct answer-The insurer's name
Which type of rider will waive the premium on a child's life insurance policy if the
parent paying the premium dies? - Correct answer-Payor benefit
A type of insurer that is owned by its policyowners is called - Correct answer-
mutual
An annuitant dies during the distribution period. What kind of annuity will return
to a beneficiary the difference between the annuity value and the income payments
already made? - Correct answer-Refund annuity
A form of medical health insurance covering the treatment and care of gum disease
is called - Correct answer-Dental expense insurance
Under a life insurance policy, what does the insuring clause state? - Correct
answer-The insurer's obligation to pay a death benefit upon an approved death
claim
Coming from an insurance point of view, which of the following is the main risk
associated with disability? - Correct answer-Loss of income
©COPYRIGHT 2025, ALL RIGHTS RESERVE 3
