Ohio life insurance exam - Study guides, Class notes & Summaries

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...

Insurance: - ANSWER A contract in which the insurance company agrees to indemnify the insured party against loss, damage or liability arising from an unknown event. Insurance Transfers: - ANSWER The risk of loss from an individual or business entity to an insurance company, which in turn spreads costs of unexpected losses to many individuals. Direct response marketing: - ANSWER A direct response marketing system effectively bypasses the insurance agent. Business is conducted over the phone...

Insurance: - ANSWER A contract in which the insurance company agrees to indemnify the insured party against loss, damage or liability arising from an unknown event. Insurance Transfers: - ANSWER The risk of loss from an individual or business entity to an insurance company, which in turn spreads costs of unexpected losses to many individuals. Direct response marketing: - ANSWER A direct response marketing system effectively bypasses the insurance agent. Business is conducted over the phone...

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 Life insurance Exam 100 Questions & Complete Answers.Ohio Life insurance Exam 100 Questions & Complete Answers.Ohio Life insurance Exam 100 Questions & Complete Answers.Ohio Life insurance Exam 100 Questions & Complete Answers.

Ohio Life insurance Exam Questions & Answers 2023-24 A life insurance company has transferred some of its risk to another insure. The insurer assuming the risk is called - ANSWER- all of the following are examples of business continuation plan except - ANSWER-Deffered Compensation All of these are valid options for an Adjustable Life Policy EXCEPT The policy's premium can be increased or decreased The policy's death benefit can be increased or decreased A nonforfeiture option ...

1 OHIO LIFE INSURANCE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE/ A life insurance company has transferred some of its risk to another insure. The insurer assuming the risk is called - - all of the following are examples of business continuation plan except - -Deffered Compensation All of these are valid options for an Adjustable Life Policy EXCEPT The policy's premium can be increased or decreased The policy's death benefit can be increased or decreased A nonforfeiture option ...

OHIO LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS To qualify for appointment of agent - correct answer 18 YOA, US citizenship not required, no minimum residency Original certificate good for.... - correct answer 180 days Renewal for license - correct answer beinnially on birth month, $5 fee Types of risk - correct answer Pure risk - covered by insurance Speculative risk - not covered (gambling) How to handle risk - correct answer avoid it retain it - self insurance redu...

Ohio Health and life insurance exam questions perfectly answered.