Life Insurance -Ohio Laws Questions and Answers New (2025/2026) Solved 100% Correct
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Life Insurance -Ohio Laws
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Life Insurance -Ohio Laws
What is the purpose of the Ohio Life and Health Insurance Guaranty Association Act? -
️️to protect the insured from company insolvency
A licensee who is required to take continuing education must include how many ethics
coursework hours? - ️️3
What MUST the company do prior to conductin...
Life Insurance -Ohio Laws
What is the purpose of the Ohio Life and Health Insurance Guaranty Association Act? -
✔️✔️to protect the insured from company insolvency
A licensee who is required to take continuing education must include how many ethics
coursework hours? - ✔️✔️3
What MUST the company do prior to conducting an HIV related test? - ✔️✔️Obtain a
written authorization from the proposed insured
The Ohio insurance superintendent is appointed to office and has all of the following
powers and duties EXCEPT - ✔️✔️enact legislation dealing with insurance
In Ohio, a life insurance policy can be backdated before the application date for up to -
✔️✔️3 months
How long must a life insurance policy be in effect before the policyowner may use the
nonforfeiture provision? - ✔️✔️3 years
No insurer, agent, broker, solicitor, or person, in connection with an insurance
transaction shall offer or promise to buy, sell, give, or allow the prospective insured
employment, stock or special favors. This is the definition of - ✔️✔️inducement
When can a policy no longer be cancelled for nonfraudulent misstatements after its date
of issue? - ✔️✔️2 years
Proceeds payable under a life insurance contract to a policyowner in anticipation of
death or upon the occurrence of specified life-threatening conditions as defined by the
policy are best described as: - ✔️✔️accelerated benefits
What information is NOT required to be included in advertising material for a life policy?
- ✔️✔️The agent's compensation
Which of the following is NOT considered advertising? - ✔️✔️An AM Best company
rating
After a request has been received for verification from a viatical settlement provider, an
insurance company authorized to do business shall respond within - ✔️✔️30 calendar
days
Which of the following statements is TRUE about an insurer's right to screen applicants
for HIV? - ✔️✔️An insurer can require a blood test for HIV
What is the renewal date of a resident insurance agent's license? - ✔️✔️On or before
the last day of the licensee's birth month
An agent may share commission in which one of the following scenarios? - ✔️✔️with
another licensed but unappointed agent
An insurance agent who convinces a prospective insured to purchase a policy by
exaggerating the benefits of the policy may be found guilty of - ✔️✔️misrepresentation
Which of the following statements regarding an examination of an insurer's books and
records by the superintendent is true? - ✔️✔️The insurer must not impede an
examination and is required to assist in the examination procedures
A licensed agent who lives in another state and transacts insurance in Ohio is called -
✔️✔️a nonresident agent
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