Ohio health and life - Study guides, Class notes & Summaries

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...

11 OHIO HEALTH AND LIFE INSURANCE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called - -cancelable Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true? The policy automatically converts to whole life after the 10-year period - -The face amount and premium will remain constan...

Ohio Health and life insurance exam-with 100% verified solutions

OHIO HEALTH AND LIFE INSURANCE EXAM

Ohio Health and Life Insurance Practice Questions with 100% Correct Answers | Verified

Ohio Health and life insurance exam Exam Questions and Answers (2024 / 2025) (Verified Answers) The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called - CORRECT answer cancelable 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 factors is NOT taken into consideration when determining the cost of a lon...

Ohio Health and life insurance exam 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 factors is NOT taken into consideration when determining the cost of a long- term care policy? - CORRECT ANSWER Personal income An agent is legally permitted to share his/her commissions - CORRECT ANSWER with another licensed agent The waiver ...

1 INSURANCE LICENSE EXAM - OHIO HEALTH AND LIFE EXAM REVIEW QUESTIONS AND ANSWERS, VERIFIED/ immediate annuity - -Jessica purchased an annuity with a single $175,000 premium payment, and payments began one month later. Based on these facts, what type of annuity did she purchase? Benefits are typically paid while the contract owner is alive - -Compared with life insurance, which of the following statements regarding annuities is most correct? Mortality and interest assumptions - -Actuari...

Insurance License Exam - Ohio Health and Life Questions with 100% Correct Answers | Updated & Verified | 2024

Insurance License Exam - Ohio Health and Life Questions with 100% Correct Answers | Updated & Verified | 2024