Ohio Life and Health State Exam Simulator Questions With Complete Solutions Ohio requires that a licensee complete ___ hours of continuing education on the subject of ethics every reporting period.1 2 3
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Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called...Estate funding Capital gains Estate conservation Capital withholding - Correct Answers ✅Estate conservation A field underwriter's main task is....Assign a risk classification to the insured 1 / 4
Ohio Life and Health State Exam Simulator Questions With Complete Solutions Report medical information to the Medical Information Bureau (MIB) To ensure an applicant's medical information is accurate and complete To approve or decline an applicant - Correct Answers ✅To ensure an applicant's medical information is accurate and complete In group health care, what is the purpose of the coordination of benefits provision?Determines where an insured goes to receive treatment Determines what is paid by the primary and secondary insurers in the event of a claim Ensures that a health provider receives the proper benefit amount owed Determines which parent's plan covers a dependent child - Correct Answers ✅Determines what is paid by the primary and secondary insurers in the event of a claim The principle of insurable interest, in regards to a life insurance contract, is accurately described in which statement?An agent establishes insurable interest An individual does not have insurable interest on his or her own life 2 / 4
Ohio Life and Health State Exam Simulator Questions With Complete Solutions Insurable interest only pertains to business arrangements Insurable interest can be based on the love and affection of individuals related by blood or law - Correct Answers ✅Insurable interest can be based on the love and affection of individuals related by blood or law Inducement is BEST defined as...making a false statement intended to malign another insurer making an unfair comparison of two insurance policies offer to buy, sell, give or allow the prospective insured employment, stock, or special favors in exchange for insurance transaction charging a higher rate for insurance based on an insured's race, religion, or national origin - Correct Answers ✅offer to buy, sell, give or allow the prospective insured employment, stock, or special favors in exchange for insurance transaction A policyowner can receive an immediate payment before the insured dies by using a(n) Viatical settlement contract Buy-sell arrangement 3 / 4
Ohio Life and Health State Exam Simulator Questions With Complete Solutions Adhesion agreement Spendthrift plan - Correct Answers ✅viatical settlement contract Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered....Guaranteed Renewable Optional Renewable Conditionally Renewable Noncancellable - Correct Answers ✅Noncancellable A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n) Employer group Employee group Association or labor group Multiple coalition - Correct Answers ✅Association or labor group
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