Ohio Life and Health Practice Exam Answered 100% Correct Ohio Life and Health Insurance - Ohio Licensing Exam Graded A+ Ohio life and health state exam simulator with Complete Solutions Ohio life, accident and health insurance state exam graded A+ Ohio Life and Health Exam Graded A+ Ohio Life/Healt...
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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 - ANSWER-$5,000 Which of these is NOT subject to income taxation under Modified Endowmen...
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Add to cartAn 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 - ANSWER-$5,000 Which of these is NOT subject to income taxation under Modified Endowmen...
Absolute Assignment - ANSWER-The assignment by the policy owner of all control and rights to a third party. This differs from collateral assignment, which allows all the rights and control to revert to the owner once a loan is paid off Accident - ANSWER-A fortuitous event; unforeseen and unintend...
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Add to cartAbsolute Assignment - ANSWER-The assignment by the policy owner of all control and rights to a third party. This differs from collateral assignment, which allows all the rights and control to revert to the owner once a loan is paid off Accident - ANSWER-A fortuitous event; unforeseen and unintend...
What type of policy would only provide coverage for specific type of illnesses? - 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? - ANSWER-taxable income And insurance c...
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Add to cartWhat type of policy would only provide coverage for specific type of illnesses? - 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? - ANSWER-taxable income And insurance c...
A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? - ANSWER-preferred Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has - ANSWER-better than average mortality The waiver of p...
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Add to cartA person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? - ANSWER-preferred Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has - ANSWER-better than average mortality The waiver of p...
20 - ANSWER-Hours of Prelicensing Courses to be completed Unlimited - ANSWER-How many attempts allowed at passing the state exam within 180 days 18 years old - ANSWER-Minimum attained age to obtain license 30 days - ANSWER-How long you have to notify the Superintendent of a change of addres...
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Add to cart20 - ANSWER-Hours of Prelicensing Courses to be completed Unlimited - ANSWER-How many attempts allowed at passing the state exam within 180 days 18 years old - ANSWER-Minimum attained age to obtain license 30 days - ANSWER-How long you have to notify the Superintendent of a change of addres...
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 ...
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Add to cartInsurance: - 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 ...
Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? - ANSWER-hospital indemnity What is the renewal date of a resident insurance agent's license? - ANSWER-On or before the last day of the licensee's birth...
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Add to cartWhich type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? - ANSWER-hospital indemnity What is the renewal date of a resident insurance agent's license? - ANSWER-On or before the last day of the licensee's birth...
Which statement best describes the tax responsibilities under a Business Overhead policy? - ANSWER-Premiums are deductible, benefits are taxed In which type of insurance company may stockholders share in the profits and losses of the insurer? - ANSWER-Stock In which company may policy owners r...
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Add to cartWhich statement best describes the tax responsibilities under a Business Overhead policy? - ANSWER-Premiums are deductible, benefits are taxed In which type of insurance company may stockholders share in the profits and losses of the insurer? - ANSWER-Stock In which company may policy owners r...
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