Ohio state exam life and - Study guides, Class notes & Summaries

1 XCEL OHIO LIFE AND HEALTH STATE PRACTICE EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+ Which of these describes the result of a modified endowment contract that failed to meet the seven-pay test? - -Pre-death distributions are typically taxable. A medical provider that accepts Medicare Assignment must - -accept payment based upon a defined Medicare schedule as payment in full. Which of the following statements regarding Group Disability Income Insurance is TRUE? - -It provides benefits...

life, accident and health insurance state exam- Ohio 2024 Latest Review A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? - CORRECT ANSWER-preferred Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has - CORRECT ANSWER-better than average mortality The waiver of premium does NOT include which provision? - CORRECT ANSWER-Al future premiums are waived if the insured reco...

Ohio life and Health Insurance Practice Final Exam Questions with accurate answers. Graded A. 2022/2023. Rated A Document Content and Description Below Ohio life and Health Insurance Practice Final Exam Questions with accurate answers. Graded A. 2022/2023. Rated A 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? - Qualified Long-Term Care plan All _____ policies must be guaranteed renewable. - long-term...

1 OHIO LIFE AND HEALTH PRACTICE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ Request for verification from a viatical settlement provider - -needs to respond within 30 calendar days what does medical Part D cover? - -Part D covers prescription drugs With violation of a state insurance law - -may be assessed the administrative costs sustained by the department over the course of the year, which premium payment mode is the most expensive? - -monthly when screening an applicant for HIV, ...

1 OHIO LIFE EXAM 11-44: EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+ Which of the following would be sufficient violation to warrant rejection, revocation, or suspension of an insurance agent's license? 1) a moving violation ticket 2) a denied license in another state 3) acting as a fiduciary 4) an unintentional misrepresentation of the terms of a contract - -2) a denied license in another state What method do insurers use to protect themselves against catastrophic lo...

Ohio life/health insurance study guide State Exam 2024 Which statement best describes the tax responsibilities under a Business Overhead policy? - CORRECT ANSWER-Premiums are deductible, benefits are taxed In which type of insurance company may stockholders share in the profits and losses of the insurer? - CORRECT ANSWER-Stock In which company may policy owners receive policy dividends when there is a profit? - CORRECT ANSWER-mutual The law of large numbers states that - CORRECT ANSWE...

All Ohio Life Insurance Exam Questions and Answers 100% Pass A condition increasing chance of loss, e.g. icy roads. - Answer- Hazard Immediate event causing loss, e.g. earthquake. - Answer- Peril Potential for loss. - Answer- Risk Presents chance for loss or gain, e.g. gambling. - Answer- Speculative Risk Insurable risk with potential for loss only, e.g. illness. - Answer- Pure Risk Criteria for insurable risk, e.g. definite and measurable loss. - Answer- Elements of Insurable Risk Cert...

Ohio laws and rules exam latest update graded A+ Open enrollment for Medicare Supplement coverage starts 3 months before your 65th birthday A viatical settlement broker may NOT make any transactions before being approved for a license A non-admitted insurer is not afforded protection by the guaranty fund An agent's renewal date for his/her license is on or before the last day of the licensee's birth month If an insurer refuses to pay a claim, how many days must the insured...