LIFE, ACCIDENT AND HEALTH INSURANCE STATE exam- OH WITH QUESTIONS AND
CORRECT VERIFIED ANSWERS GRADED A+
A person who is a nonsmoker, of average weight and in excellent health would most likely be in which
risk classification? - (answer)preferred
Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has -
(answer)better than average mortality
The waiver of premium does NOT include which provision? - (answer)Al future premiums are waived if
the insured recovers from the disability
An advertisement for an insurance product may contain - (answer)the insurer's name
A medicare supplement plan can be canceled by the insurer - (answer)for nonpayment of premiums
The principle of insurable interest, in regards to a life insurance contract, is accurately described in
which statement? - (answer)Insurable interest can be based on the love and affection of individuals
related by blood or law
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? - (answer)unpaid premium
An example of a health insuring corporation (HIC) specialty care provider is - (answer)neurologist
an insurance company needs to obtain personal info from a 3rd part concerning an applicant. which law
do all insurers and their producers need to comply with? - (answer)fair credit reporting act
time is covered under a group plan and would like to changed his coverage to an individual policy w the
same insurer bc of employment termination. which of these describes the change that will take place? -
(answer)conversion
,LIFE, ACCIDENT AND HEALTH INSURANCE STATE exam- OH WITH QUESTIONS AND
CORRECT VERIFIED ANSWERS GRADED A+
an agents appt has been terminated by insurer. the insurer must then notify the superintendent within
how many days of the termination? - (answer)30
the suicide clause of a life insurance policy states that if an insured commits suicide w in a stated period
from the policy inception, the insurer will only be liable for a return of prisms paid - (answer)minus
indebtedness and without interest
which of the following is considered to be an alternative to a life settlement? - (answer)accelerated
death benefit rider
if the annuitant dies before the annuity start date, - (answer)the premiums paid plus interest earned will
be given to the beneficiary
a life insurance policy that has premiums fully paid up within a stated time period is called -
(answer)limited payment insurance
shopping for annuity that guarantees he cannot outlive the benefits. which of these benefit options
would he choose - (answer)guaranteed lifetime withdrawal benefit
what is medicare part b known as - (answer)supplementary medical insurance
field underwriting performed by the producer involves - (answer)completing the application and
collecting initial premium
a life insurance policy which contains cash values that vary according to its investment performance of
stocks is called - (answer)variable whole life
a life insurance policy owner was injured in an automobile accident which results in total and permanent
disability. which rider would pay a monthly amount bc of this disability? - (answer)disability income rider
, LIFE, ACCIDENT AND HEALTH INSURANCE STATE exam- OH WITH QUESTIONS AND
CORRECT VERIFIED ANSWERS GRADED A+
pierre is covered by his employers group major medical plan. his employer pays for 75% of the premium
and he pays for 25%. how much would a 10000 benefit be taxable as income under this plan - (answer)0
what is not an element of a valid contract - (answer)countersignature
a health insurance policy will typically cover - (answer)preventative health services
which settlement option involves having the proceeds remain with the insurer and earnings paid on a
monthly basis to the beneficiary? - (answer)interest only
all of the following are qualifications for establishing a health savings act (HSA) except - (answer)enrolled
in a health plan with a prescription drug benefit
legal purpose is a term used in contract law meaning - (answer)there must be legal reasons for entering
into the contract
donald is the primary insured of a life insurance policy and adds a children's term rider. what is the
advantage of adding this rider? - (answer)can be converted to a permanent coverage
The factor used most often when underwriting a disability income policy is - (answer)annual earnings
the free look period in ohio for individual health insurance policies is __ days - (answer)10
which of the following is considered to be the period when the accumulated value in an annuity is paid
out? - (answer)annutization phase
under a disability income policy, which provision would be payable if the cause of an injury is
unexpected and accidental? - (answer)accidental bodily injury provision
CORRECT VERIFIED ANSWERS GRADED A+
A person who is a nonsmoker, of average weight and in excellent health would most likely be in which
risk classification? - (answer)preferred
Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has -
(answer)better than average mortality
The waiver of premium does NOT include which provision? - (answer)Al future premiums are waived if
the insured recovers from the disability
An advertisement for an insurance product may contain - (answer)the insurer's name
A medicare supplement plan can be canceled by the insurer - (answer)for nonpayment of premiums
The principle of insurable interest, in regards to a life insurance contract, is accurately described in
which statement? - (answer)Insurable interest can be based on the love and affection of individuals
related by blood or law
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? - (answer)unpaid premium
An example of a health insuring corporation (HIC) specialty care provider is - (answer)neurologist
an insurance company needs to obtain personal info from a 3rd part concerning an applicant. which law
do all insurers and their producers need to comply with? - (answer)fair credit reporting act
time is covered under a group plan and would like to changed his coverage to an individual policy w the
same insurer bc of employment termination. which of these describes the change that will take place? -
(answer)conversion
,LIFE, ACCIDENT AND HEALTH INSURANCE STATE exam- OH WITH QUESTIONS AND
CORRECT VERIFIED ANSWERS GRADED A+
an agents appt has been terminated by insurer. the insurer must then notify the superintendent within
how many days of the termination? - (answer)30
the suicide clause of a life insurance policy states that if an insured commits suicide w in a stated period
from the policy inception, the insurer will only be liable for a return of prisms paid - (answer)minus
indebtedness and without interest
which of the following is considered to be an alternative to a life settlement? - (answer)accelerated
death benefit rider
if the annuitant dies before the annuity start date, - (answer)the premiums paid plus interest earned will
be given to the beneficiary
a life insurance policy that has premiums fully paid up within a stated time period is called -
(answer)limited payment insurance
shopping for annuity that guarantees he cannot outlive the benefits. which of these benefit options
would he choose - (answer)guaranteed lifetime withdrawal benefit
what is medicare part b known as - (answer)supplementary medical insurance
field underwriting performed by the producer involves - (answer)completing the application and
collecting initial premium
a life insurance policy which contains cash values that vary according to its investment performance of
stocks is called - (answer)variable whole life
a life insurance policy owner was injured in an automobile accident which results in total and permanent
disability. which rider would pay a monthly amount bc of this disability? - (answer)disability income rider
, LIFE, ACCIDENT AND HEALTH INSURANCE STATE exam- OH WITH QUESTIONS AND
CORRECT VERIFIED ANSWERS GRADED A+
pierre is covered by his employers group major medical plan. his employer pays for 75% of the premium
and he pays for 25%. how much would a 10000 benefit be taxable as income under this plan - (answer)0
what is not an element of a valid contract - (answer)countersignature
a health insurance policy will typically cover - (answer)preventative health services
which settlement option involves having the proceeds remain with the insurer and earnings paid on a
monthly basis to the beneficiary? - (answer)interest only
all of the following are qualifications for establishing a health savings act (HSA) except - (answer)enrolled
in a health plan with a prescription drug benefit
legal purpose is a term used in contract law meaning - (answer)there must be legal reasons for entering
into the contract
donald is the primary insured of a life insurance policy and adds a children's term rider. what is the
advantage of adding this rider? - (answer)can be converted to a permanent coverage
The factor used most often when underwriting a disability income policy is - (answer)annual earnings
the free look period in ohio for individual health insurance policies is __ days - (answer)10
which of the following is considered to be the period when the accumulated value in an annuity is paid
out? - (answer)annutization phase
under a disability income policy, which provision would be payable if the cause of an injury is
unexpected and accidental? - (answer)accidental bodily injury provision
