LIFE, ACCIDENT AND HEALTH INSURANCE STATE EXAM- OH NEWEST EXAM 2024 ACTUAL EXAM COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

1 | P a g e LIFE, ACCIDENT AND HEALTH INSURANCE STATE EXAMOH NEWEST EXAM 2024 ACTUAL EXAM COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ 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 premium does NOT include which provision? - ANSWER- Al future premiums are waived if the insured recovers from the disability An advertisement for an insurance product may contain - ANSWER- the insurer's name A medicare supplement plan can be canceled by the insurer - ANSWERfor nonpayment of premiums The principle of insurable interest, in regards to a life insurance contract, is accurately described in which statement? - ANSWER- Insurable interest can be based on the love and affection of individuals related by blood or law 2 | P a g e Craig submits a P0 claim for medical expenses. With a past due premium of $100, the insurer pays $400. which of the uniform optional provisions covers this situation? - ANSWER- unpaid premium An example of a health insuring corporation (HIC) specialty care provider is - 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? - 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? - ANSWER- conversion an agents appt has been terminated by insurer. the insurer must then notify the superintendent within how many days of the termination? - 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 - ANSWER- minus indebtedness and without interest which of the following is considered to be an alternative to a life settlement? - ANSWER- accelerated death benefit rider 3 | P a g e if the annuitant dies before the annuity start date, - 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 - ANSWER- limited payment insurance shopping for annuity that guarantees he cannot outlive the benefits. which of these benefit options would he choose - ANSWER- guaranteed lifetime withdrawal benefit what is medicare part b known as - ANSWER- supplementary medical insurance field underwriting performed by the producer involves - ANSWERcompleting 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 - 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? - ANSWER- disability income rider 

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