Ohio Insurance Laws and Regulations Practice Exam

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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!

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!

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What does the Ohio Life and Health Insurance Guaranty Association protect insured individuals from?

  1. Unfair claims practices

  2. Insurance company insolvency

  3. Fraudulent agents

  4. Policy cancellations

The correct answer is: Insurance company insolvency

The Ohio Life and Health Insurance Guaranty Association guarantees that insured individuals will still receive their insurance benefits even if their insurance company becomes insolvent or is unable to fulfill their obligations. Option A (Unfair claims practices) and C (Fraudulent agents) deal with unethical behavior rather than insurance company insolvency. Option D (Policy cancellations) may be covered by the guaranty association, but it is not the primary purpose of the association. Therefore, the best answer is B.