OHIO LIFE AND HEALTH STATE BUNDLED EXAM 2024

OHIO LIFE AND HEALTH STATE EXAM 2024 What type of policy would only provide coverage for specific type of illnesses? - correct 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 p...

OHIO LIFE EXAM WITH 100% CORRECT ANSWERS Which of the following would be sufficient violation to warrant rejection, revocation, or suspension of an insurance agent's license? 1) a moving violation ticket 2) a denied license in another state 3) acting as a fiduciary 4) an unintentional mis...

OHIO LIFE AND HEALTH PRACTICE EXAM 2024 WITH 100% CORRECT ANSWERS Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? - correct answer Life income Someone needing custodial care at home would require which type of coverage? - correct answer L...

XCEL OHIO LIFE AND HEALTH STATE PRACTICE EXAM 2024 Which of these describes the result of a modified endowment contract that failed to meet the seven-pay test? - correct answer Pre-death distributions are typically taxable. A medical provider that accepts Medicare Assignment must - correct ...

OHIO LIFE/HEALTH INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS Which statement best describes the tax responsibilities under a Business Overhead policy? - correct answer Premiums are deductible, benefits are taxed In which type of insurance company may stockholders share in the profits and ...

OHIO LIFE AND HEALTH PRACTICE EXAM 2024 WITH 100% CORRECT ANSWERS 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 - correct answer $5,...

OHIO LIFE AND HEALTH INSURANCE PRACTICE FINAL EXAM 2024 Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax-deductible when paid for which of the following plans? - correct answer Qualified Long-Term Care plan All _____ policies must be guaranteed renewable....

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 balanc...

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 Comp...

OHIO LIFE ONLY EXAM 2024 WITH 100% CORRECT ANSWERS Which annuity payout option allows the policyowner to choose a pre-determined number of benefit payments? - correct answer Period certain What happens when an insurance policy is backdated? - correct answer The policy's probation period is...

OHIO LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS To qualify for appointment of agent - correct answer 18 YOA, US citizenship not required, no minimum residency Original certificate good for.... - correct answer 180 days Renewal for license - correct answer beinnially on birth month...