Test bank /Ati/Edexel 2022

ohio life insurance exam Questions and Answers (2024 / 2025) (Verified Answers) Return of Premium Rider (increasing term insurance) - CORRECT ANSWER insured buys an increasing amount of term insurance that always equals the total amount of premiums paid to date Return of Cash Value Rider (increasing term insurance0 - CORRECT ANSWER Pays an amount equal to the cash value along with the face amount if the insured dies Riders - CORRECT ANSWER cost extra, but none of the extra premiu...

ohio life insurance exam Questions and Answers (2024 / 2025) (Verified Answers) How soon can the benefit payments begin with a deferred annuity? - CORRECT ANSWER a minimum of 12 months after date of purchase which of these is considered to be a living benefit option in a life insurance policy - CORRECT ANSWER Accelerated death benefit An example of naming a beneficiary by class would be "To the children born of my union with Ned Jackson: David Jackson, Jennifer Jackson, and Scot...

Ohio Health and life insurance exam Exam Questions and Answers (2024 / 2025) (Verified Answers) Insurance - CORRECT ANSWER A contract that indemnifies another against loss, damage, or liability Indemnify - CORRECT ANSWER To make one whole by restoring them to the same financial position that existed before the loss Pure risk - CORRECT ANSWER There is only a chance of loss and there is no possibility for gain (insurable) Speculative risk - CORRECT ANSWER Uncertainty of loss or g...

Ohio Life Insurance Exam Questions and Answers (2024 / 2025) (Verified Answers) According to the entire contract provision, the entire contract includes all of the following EXCEPT - CORRECT ANSWER The premium payment (other answers any attachments, any endorsements, and the insurance policy) In most states, the policy becomes incontestable after - CORRECT ANSWER 2 years Consideration for an insurance policy includes - CORRECT ANSWER The statements made in the application and the pr...

Ohio Life Insurance Exam Questions and Answers (2024 / 2025) (Verified Answers) According to the entire contract provision, the entire contract includes all of the following EXCEPT - CORRECT ANSWER The premium payment (other answers any attachments, any endorsements, and the insurance policy) In most states, the policy becomes incontestable after - CORRECT ANSWER 2 years Consideration for an insurance policy includes - CORRECT ANSWER The statements made in the application and the pr...

Ohio State Exam Life and Health Insurance Questions and Answers (2024 / 2025) (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 num...

Ohio State Exam Life and Health Insurance Questions and Answers (2024 / 2025) (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 num...

Ohio State Exam Life and Health Insurance Questions and Answers (2024 / 2025) (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 num...

Ohio State Exam Life and Health Insurance Questions and Answers (2024 / 2025) (Verified Answers) Refund Life annuities - CORRECT ANSWER little risk. The insurance company promises to make a refund of the account balance if the auunitant dies before collecting it all Joint and Survivor Annuity - CORRECT ANSWER Pay survivor amount.. after first party dies usually reduced Joint lfie annuity - CORRECT ANSWER pay two people at the same time and payments stop entirely when the first part...

Life, Accident and Health Insurance Ohio Questions and Answers (2024 / 2025) (Verified Answers) Which is a FALSE statement? a. Agents act in a fiduciary capacity when handling premiums. b. Misrepresentation on an application can void coverage, if material. c. Mutual life insurers cannot guarantee their future dividend scale. d. You can protect future dividends on a non-participating policy. - CORRECT ANSWER D. Only participating policies might pay dividends to policy owners. Stock ...