Ohio laws and rules exam questions and answers 2024., Exams of Law

Download Ohio laws and rules exam questions and answers 2024. and more Exams Law in PDF only on Docsity! Ohio laws and rules exam questions and answers 2024 Open enrollment for Medicare Supplement coverage starts - ANS; 3 months before your 65th birthday A viatical settlement broker may NOT - ANS; make any transactions before being approved for a license A non-admitted insurer - ANS; is not afforded protection by the guaranty fund An agent's renewal date for his/her license is on or before - ANS; the last day of the licensee's birth month If an insurer refuses to pay a claim, how many days must the insured wait to take legal action against a health insurer after submitting written proof of loss? - ANS; 60 Informing an insured of inaccurate terms of an insurance policy is considered to be a form of - ANS; misrepresentation The entire contract provision includes all of the following EXCEPT the - ANS; changes made by the agent Coverage for newborns under an accident and health plan MUST include coverage for - ANS; birth abnormalities Jim recently sold his whole life insurance policy under a viatical settlement contract. The proceeds of this contract could be subject to the claims of - ANS; creditors A life insurance applicant in Ohio may backdate the application for up to __ month(s). - ANS; 3 months Proof of loss on a health insurance claim must be submitted to an insurer within __ days after the insured's date of loss - ANS; 90 days A minor may receive a life insurance policy's death benefit ONLY - ANS; if they have an appointed guardian A life insurance policyowner is allowed __ days upon policy delivery to return the policy for a full premium refund - ANS; 10 An agent must notify the superintendent within __ days of a felony conviction. - ANS; 30 The Ohio Life and Health Insurance Guaranty Association - ANS; protects insureds from insurance company insolvency An insurer can exclude coverage for a preexisting condition on a Medicare Supplement policy for up to - ANS; 6 months The first payment for newborn accident and health coverage is due __ days after the birth. - ANS; 31 How often must the superintendent examine each domestic insurance company? - ANS; every 3 years A client told an intentional lie to an insurer in order to receive a favorable premium. This is an example of - ANS; fraud Long-Term Care policies of certificates issued in Ohio are required to have - ANS; a nonforfeiture value Pete the agent recently had his license suspended because he was found to be in violation of a state insurance law. Due to this suspension, Pete - ANS; may be assessed the administrative costs sustained by the Department An employer with under 20 employees must allow a terminated employee to continue accident and health coverage for a MINIMUM of __ months. - ANS; 12 Ohio requires that a licensee complete __ hours of continuing education on the subject of ethics every reporting period. - ANS; 3 An insurance company advertises an accident and health insurance product in a local Ohio newspaper and refers to dollar amount benefits. This insurer must also disclose which of the following in the advertisement? - ANS; any applicable benefit reduction When a health policy is reinstated, insured losses are covered immediately if - ANS; the losses result from accidental injuries An insurer may refuse to renew an employer's small group health plan due to - ANS; nonpayment of premium An agent has committed an insurance crime that violates US Code 1033 (interstate commerce). Who would be responsible for the prosecution of this crime? - ANS; US Attorney General With a scheduled dental policy, how are covered expenses paid? - ANS; benefits are limited to a specific maximum dollar amount per procedure An advertisement for an insurance product may contain - ANS; the insurer's name