Ohio life - Study guides, Class notes & Summaries
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Ohio Life Exam 11-44 Questions with Answers (All Answers Correct)
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An insured owns a term policy with a guaranteed renewable option. When the end of 
the policy draws near, the insured answers medical questions in order to prove 
insurability and qualifies for a discounted premium rate. Which option best describes 
this scenario? 
1) preferred premium reduction 
2) contract review 
3) revision of consideration 
4) re-entry - ️️4) re-entry 
What method do insurers use to protect themselves against catastrophic losses? 
1) pro rata liability 
2) risk manageme...
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Ohio Life Insurance Exam Questions and Answers (2024 / 2025) (Verified Answers)
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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...
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OHIO LIFE AND HEALTH STATE EXAM 2024
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OHIO LIFE AND HEALTH STATE EXAM 2024 
 
 
What type of policy would only provide coverage for specific type of illnesses? - correct answer Dread disease insurance 
 
Justin is receiving disability income benefits from a group policy paid for by his employer. How are these benefits treated for tax purposes? - correct answer taxable income 
 
And insurance company needs to obtain personal information from a third-party concerning an applicant. Which law do you all ensures in there producers need ...
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OHIO Life & Health Insurance XCEL Laws and Rules Already Passed
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OHIO Life & Health Insurance XCEL 
Laws and Rules Already Passed 
 
maximum benefits upper limit of total lifetime benefits that the insurance company will pay 
 
Misrepresentation falsifying terms, benefits, advantages, or conditions of insurance policy 
 
defamation publishing information that is false and maliciously critical to an insurer and 
intended to cause injury 
 
An insurer can exclude coverage for a pre-existing condition on Medicare Supplement policy for 
up to ___ months 6 months ...
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OHIO LIFE AND HEALTH PRACTICE EXAM 2024 WITH 100% CORRECT ANSWERS.
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OHIO LIFE AND HEALTH PRACTICE EXAM 2024 WITH 100% CORRECT ANSWERS 
 
 
An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? 
 
$500 
$5,000 
$5,400 
$5,600 - correct answer $5,000 
 
Which of these is NOT subject to income taxation under Modified Endowment Contract (MEC) 
 
Loan against the cash value 
Policy withdrawal 
Policy Dividend 
Death Benefit - correct answer Deat...
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OHIO LIFE ONLY EXAM 2024 WITH 100% CORRECT ANSWERS
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OHIO LIFE ONLY EXAM 2024 WITH 100% CORRECT ANSWERS 
 
 
Which annuity payout option allows the policyowner to choose a pre-determined number of benefit payments? - correct answer Period certain 
 
What happens when an insurance policy is backdated? - correct answer The policy's probation period is earlier than the present 
 
What is an insurer required to do when faced with an error made under the Misstatement of Age provision? - correct answer Pay age-corrected benefits 
 
An insurer will acc...
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OHIO LIFE AND HEALTH PRACTICE EXAM 2024
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OHIO LIFE AND HEALTH PRACTICE EXAM 2024 
 
 
Ownership of a life insurance policy may be temporarily transferred with a(n) - correct answer collateral assignment 
 
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 
 
Which type of annuity guarantees a stated number of income payments, whether or not the annuitant is still alive to receive them? - correct answ...
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OHIO Life Insurance Exam Questions and Answers 100% Verified
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Perils: - ️️The causes of loss insured against in an insurance policy. 
-Life insurance 
-Health insurance 
-Property insurance 
-Casualty insurance 
Direct response marketing: - ️️A direct response marketing system effectively 
bypasses the insurance agent. Business is conducted over the phone, through the mail, 
or online. This is a perfectly legal approach to selling insurance. It is not mandatory in all 
situations for the insured to physically sign any documents in order for coverag...
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OHIO LIFE, ACCIDENT AND HEALTH EXAM WITH 300 QUESTIONS AND ANSWERS (100% CORRECT VERIFIED ANSWERS/ OHIO LIFE, ACCIDENT AND HEALTH INSURANCE LICENSE PRACTICE EXAM (BRAND NEW!)
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OHIO LIFE, ACCIDENT AND HEALTH EXAM WITH 300 QUESTIONS AND ANSWERS (100% CORRECT VERIFIED ANSWERS/ OHIO LIFE, ACCIDENT AND HEALTH INSURANCE LICENSE PRACTICE EXAM (BRAND NEW!) 
In the event of a Health Insurance Company becoming insolvent, the __________ 
will pay up to $100,000 for qualifying claims - ANSWER-Ohio Guaranty Fund 
Time Limits on Health Insurance are 
Notice of claim: 20 days 
Claim forms: 15 days 
Proof of Loss: 90 days 
Pay the claim: Immediately 
Wait and see: 60 days 
Laws...
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OHIO LIFE AND HEALTH INSURANCE PRACTICE FINAL EXAM 2024
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OHIO LIFE AND HEALTH INSURANCE PRACTICE FINAL EXAM 2024 
 
 
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 underwrit...
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