Ohio Insurance Laws and Regulations Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Conquer the Ohio Insurance Laws and Regulations Exam with our comprehensive guide. Boost your confidence and knowledge to ace the exam on your first try!

Start Multiple Choice Practice Test
Start Flash Cards

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

A client told an intentional lie to an insurer in order to receive a favorable premium. This is an example of?

  1. Misrepresentation

  2. Fraud

  3. Warranty

  4. Indemnity

The correct answer is: Fraud

This is considered fraud because the client intentionally provided false information in order to gain a benefit (lower premium). This is different from misrepresentation, which is providing incorrect information without the knowledge that it is incorrect. Warranty refers to a promise or guarantee made in a contract, and indemnity refers to security or protection against damage or loss.

More Questions Like This