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life, accident and health insurance state exam- OH
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life, accident and health insurance stateexam- OH
A person who is a nonsmoker, of average weight and in excellent health would
most likely be in which risk classification? - CORRECT ANSWER-preferred
Preferred risk policies with reduced premiums are issued by insurance
companies bc the insured has - CORRECT ANSWER-better than average
mortality
The waiver of premium does NOT include which provision? - CORRECT
ANSWER-Al future premiums are waived if the insured recovers from the
disability
An advertisement for an insurance product may contain - CORRECT
ANSWER-the insurer's name
A medicare supplement plan can be canceled by the insurer - CORRECT
ANSWER-for nonpayment of premiums
The principle of insurable interest, in regards to a life insurance contract, is
accurately described in which statement? - CORRECT ANSWER-Insurable
interest can be based on the love and affection of individuals related by blood or
law
Craig submits a %500 claim for medical expenses. With a past due premium of
$100, the insurer pays $400. which of the uniform optional provisions covers this
situation? - CORRECT ANSWER-unpaid premium
An example of a health insuring corporation (HIC) specialty care provider is -
CORRECT ANSWER-neurologist
an insurance company needs to obtain personal info from a 3rd part concerning
an applicant. which law do all insurers and their producers need to comply with? -
CORRECT ANSWER-fair credit reporting act
,time is covered under a group plan and would like to changed his coverage to an
individual policy w the same insurer bc of employment termination. which of
these describes the change that will take place? - CORRECT
ANSWER-conversion
an agents appt has been terminated by insurer. the insurer must then notify the
superintendent within how many days of the termination? - CORRECT
ANSWER-30
the suicide clause of a life insurance policy states that if an insured commits
suicide w in a stated period from the policy inception, the insurer will only be
liable for a return of prisms paid - CORRECT ANSWER-minus indebtedness and
without interest
which of the following is considered to be an alternative to a life settlement? -
CORRECT ANSWER-accelerated death benefit rider
if the annuitant dies before the annuity start date, - CORRECT ANSWER-the
premiums paid plus interest earned will be given to the beneficiary
a life insurance policy that has premiums fully paid up within a stated time period
is called - CORRECT ANSWER-limited payment insurance
shopping for annuity that guarantees he cannot outlive the benefits. which of
these benefit options would he choose - CORRECT ANSWER-guaranteed
lifetime withdrawal benefit
what is medicare part b known as - CORRECT ANSWER-supplementary medical
insurance
field underwriting performed by the producer involves - CORRECT
ANSWER-completing the application and collecting initial premium
a life insurance policy which contains cash values that vary according to its
investment performance of stocks is called - CORRECT ANSWER-variable
whole life
, a life insurance policy owner was injured in an automobile accident which results
in total and permanent disability. which rider would pay a monthly amount bc of
this disability? - CORRECT ANSWER-disability income rider
pierre is covered by his employers group major medical plan. his employer pays
for 75% of the premium and he pays for 25%. how much would a 10000 benefit
be taxable as income under this plan - CORRECT ANSWER-0
what is not an element of a valid contract - CORRECT
ANSWER-countersignature
a health insurance policy will typically cover - CORRECT ANSWER-preventative
health services
which settlement option involves having the proceeds remain with the insurer and
earnings paid on a monthly basis to the beneficiary? - CORRECT
ANSWER-interest only
all of the following are qualifications for establishing a health savings act (HSA)
except - CORRECT ANSWER-enrolled in a health plan with a prescription drug
benefit
legal purpose is a term used in contract law meaning - CORRECT
ANSWER-there must be legal reasons for entering into the contract
donald is the primary insured of a life insurance policy and adds a children's term
rider. what is the advantage of adding this rider? - CORRECT ANSWER-can be
converted to a permanent coverage
The factor used most often when underwriting a disability income policy is -
CORRECT ANSWER-annual earnings
the free look period in ohio for individual health insurance policies is __ days -
CORRECT ANSWER-10
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