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Ohio life/health insurance study guide State Exam 2024
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Ohio life/health insurance study guide 
State Exam 2024 
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 losses of 
the insurer? - CORRECT ANSWER-Stock 
In which company may policy owners receive policy dividends when there is a profit? - 
CORRECT ANSWER-mutual 
The law of large numbers states that - CORRECT ANSWE...
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Study Guide for OHIO Life Insurance Exam 2024 Final Q&A
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Study Guide for OHIO Life Insurance 
Exam 2024 Final Q&A 
Insurance: - CORRECT ANSWER-A contract in which the insurance company agrees to 
indemnify the insured party against loss, damage or liability arising from an unknown 
event. 
Insurance Transfers: - CORRECT ANSWER-The risk of loss from an individual or 
business entity to an insurance company, which in turn spreads costs of unexpected 
losses to many individuals. 
Direct response marketing: - CORRECT ANSWER-A direct response marketin...
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life, accident and health insurance state exam- Ohio 2024 Latest Review
- Exam (elaborations) • 15 pages • 2024
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life, accident and health insurance state 
exam- Ohio 2024 Latest Review 
A person who is a nonsmoker, of average weight and in excellent health would most 
likely be in which risk classification? - CORRECT ANSWER-preferred 
Preferred risk policies with reduced premiums are issued by insurance companies bc 
the insured has - CORRECT ANSWER-better than average mortality 
The waiver of premium does NOT include which provision? - CORRECT ANSWER-Al 
future premiums are waived if the insured reco...
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Ohio Health Insurance Exam Latest Updated 2024 Q&A
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Ohio Health Insurance Exam Latest 
Updated 2024 Q&A 
ACCIDENTAL AND HEALTH INSURANCE BASICS STARTS: 15% - CORRECT 
ANSWER-... 
Two major perils under a health insurance policy: - CORRECT ANSWER-Policies may 
cover both accident and sickness or accident only. 
Accidental bodily injury: - CORRECT ANSWER-An unforeseen and unintended injury 
that resulted from an accident rather than a sickness. 
Sickness: - CORRECT ANSWER-Normally defined as an illness, which first manifests 
itself while the ...
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Ohio Life and Health Insurance State Certification Exam 2024
- Exam (elaborations) • 2 pages • 2024
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Ohio Life and Health Insurance State 
Certification Exam 2024 
absolute assignment - CORRECT ANSWER-the assignment by the policy owner of all 
control and rights to a 3rd party 
accident - CORRECT ANSWER-a fortuitous event; unforeseen and unintended 
Accidental Death Insurance - CORRECT ANSWER-a form of health insurance that 
provides payment if death of the insured results from accident 
Accident and sickness - CORRECT ANSWER-insurance against bodily injury, disability, 
or death by acciden...
Too much month left at the end of the money?
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Ohio Life Insurance Exam Study Guide 2024 Q&A
- Exam (elaborations) • 5 pages • 2024
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Ohio Life Insurance Exam Study Guide 
2024 Q&A 
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, $5 fee 
Types of risk - CORRECT ANSWER-Pure risk - covered by insurance 
Speculative risk - not covered (gambling) 
How to handle risk - CORRECT ANSWER-avoid it 
retain it - self insurance 
reduce it 
share it 
t...
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Life and Health Insurance - Ohio Licensing Exam 2024 with Verified Answers
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Life and Health Insurance - Ohio 
Licensing Exam 2024 with Verified 
Answers 
Absolute Assignment - CORRECT ANSWER-The assignment by the policy owner of all 
control and rights to a third party. This differs from collateral assignment, which allows 
all the rights and control to revert to the owner once a loan is paid off 
Accident - CORRECT ANSWER-A fortuitous event; unforeseen and unintended 
Accidental Death Insurance - CORRECT ANSWER-A form of health insurance that 
provides payment if ...
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Ohio Health & Life Insurance Exam Prep 2024 Q&A
- Exam (elaborations) • 21 pages • 2024
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Ohio Health & Life Insurance Exam Prep 
2024 Q&A 
Medical Expense Insurance - CORRECT ANSWER-Covers medical care and services 
Disability income insurance - CORRECT ANSWER-replaces income lost when disability 
keeps the insured from working 
Long-term care insurance - CORRECT ANSWER-covers long-term care in a nursing 
home, at home, or at an extended health care facility. 
Medicare supplement insurance - CORRECT ANSWER-Policy that provides coverage 
to supplement Medicare coverage 
Limited Be...
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Ohio Life and Health Practice Exam Questions and Correct Answers 100% 2024
- Exam (elaborations) • 18 pages • 2024
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Ohio Life and Health Practice Exam 
Questions and Correct Answers 100% 
2024 
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-$5,000 
Which of these is NOT subject to income taxation under Modified Endowment Contract 
(MEC) 
Loan against the cash value 
Policy withdrawal 
Policy Dividend 
Death Benefit - CORRECT ANS...
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Ohio Health and life insurance exam with Correct Answers 2024
- Exam (elaborations) • 12 pages • 2024
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Ohio Health and life insurance exam 
with Correct Answers 2024 
The type of policy where the insurer can send a notice to the insured that the policy has 
been cancelled in the middle of the term is called - CORRECT ANSWER-cancelable 
Krissa purchases a 10-year level term life insurance policy that has a death benefit of 
$200,000. Which of these statements is true? 
The policy automatically converts to whole life after the 10-year period - CORRECT 
ANSWER-The face amount and premium will rem...
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