Ohio Health and life Insurance Exam Review

pg. 1 Ohio Health and life Insurance Exam Review/ Actual Exam Questions with 100% Verified Answers/ Latest Update Rated A+

An employee has ___ days after the date of marriage to add a new spouse to a small group health plan. - ANSWER - 30 days

All of these are considered forms of advertising EXCEPT - ANSWER - An insurer's AM Best rating

A Medicare supplement plan can be canceled by the insurer - ANSWER - for nonpayment of premiums

Which of these preventative care services is NOT provided by health insuring corporation (HIC) primary care physicians? - ANSWER - Hearing screenings

Under group health insurance, a certificate of coverage is issued to the - ANSWER - employee

Preferred risk policies with reduced premiums are issued by insurance companies because the insured has - ANSWER - better than average mortality or morbidity experience

An insurer may refuse to renew an employer's small group health plan due to - ANSWER - nonpayment of premium

Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? - ANSWER - Human Life Value 1 / 3

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A Long-term care policy typically provides all of the following levels of care EXCEPT - ANSWER - acute care

What is involved when a life insurance policy has been backdated? - ANSWER - Making the policy effective on an earlier date than the present

Which of the following is NOT typically included under "hospital care" for the most health insuring corporation (HIC) plans? - ANSWER - Private duty nursing

An agent has committed an insurance crime that violates US Code 1033 (interstate commerce). Who would be responsible for the prosecution of this crime? - ANSWER - US Attorney General

Which disability policy provision would address any concerns of the value of the benefits decreasing over time? - ANSWER - Cost of living benefit

How soon can the benefit payments begin with a deferred annuity? - ANSWER - A minimum of 12 months after date of purchase

Which of these factors is NOT taken into consideration when determining the cost of a long- term care policy? - ANSWER - Personal income

An agent is legally permitted to share his/her commissions - ANSWER - with another licensed agent

The waiver of premium does NOT include which provision? - ANSWER - All future premiums are waived if the insured recovers from the disability

An employer is issued a group medical insurance policy. This single contract is known as a(n) - ANSWER - Master policy

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pg. 3 Pre-death distributions from a modified endowment contract (MEC) receive different tax treatment than other life insurance policies because - ANSWER - the MEC tends to be an investment vehicle

An employer with under 20 employees must allow a terminated employee to continue accident and health coverage for a MINIMUM of ____months. - ANSWER - 12

How does one become eligible for Part D: Prescription Drug coverage? - ANSWER -

must have Medicare

Which of these is NOT a legal reason for an HIC to release a subscriber's confidential health information? - ANSWER - Public interest

Amy has a group medical policy through her employer with a $500 deductible and a 90% coinsurance provision. She incurs $1,500 in covered health care services. How much will her group insurance carrier pay? - ANSWER - $900

Ken is a producer who has obtained Consumer Information Reports under false pretenses. Under the Fair Credit Reporting Act, what is the maximum penalty that may be imposed on Ken? - ANSWER - $5,000

Which of the following annuity payout options makes no additional payments regardless of when the annuitant dies? - ANSWER - Life only

Which of these ensures that proceeds of a life insurance policy will be free from the attachment or seizure by the beneficiary's creditors? - ANSWER - spendthrift clause

An indiviual who removes the risk of losing money in the stock market by never purchasing stocks is said to be engaging in - ANSWER - Risk avoidance

An insured individual and the policy's beneficiary die from the same accident. The common disaster provision states the insurer will continue as if - ANSWER - The insured outlived the beneficiary

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