Ohio life insurance 2024 - Study guides, Class notes & Summaries

OHIO HEALTH AND LIFE INSURANCE 2024 EXAM ACTUAL EXAM COMPLETE 450 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

OHIO LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS A life insurance company has transferred some of its risk to another insure. The insurer assuming the risk is called - correct answer all of the following are examples of business continuation plan except - correct 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 no...

Study Guide for OHIO Life Insurance Exam 2024 Final Q&A Insurance: - CORRECT 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: - CORRECT 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: - CORRECT ANSWER-A direct response marketin...

OHIO LIFE INSURANCE FINAL EXAM 2024 WITH 100% CORRECT ANSWERS Which of the following is usually the owner of the annuity? - correct answer The annuitant Which of the following is not true of the straight life income option for annuities? - correct answer A beneficiary will receive any balance of the annuity upon the annuitant's death. When an insurance policy is taken out, if the owner of the policy is someone other than the actual insured, the owner must be able to prove: - correct ...

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 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...

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 ...

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 ...

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 perm

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...