PSI Ohio Insurance Practice Exam

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Study for the Ohio Insurance Test. Prepare with flashcards and multiple choice questions, each question accompanied by hints and explanations. Excel in your exam!

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Which of the following underwriting sources acts as an information exchange by collecting general medical information about an individual's health history?

Medical Information Bureau
Consumer Reports Agency
National Insurance Database
Health Information Exchange

The correct answer is: Medical Information Bureau

The correct answer is Medical Information Bureau. This organization serves as a critical resource in the underwriting process by collecting and sharing general medical information about individuals’ health histories. It helps insurance companies assess risk by providing data that can include details about prior health conditions, diagnoses, and treatment history. This established information repository allows insurers to make more informed decisions when evaluating applications for life and health insurance. The data provided by the Medical Information Bureau is vital in determining an applicant's insurability and the premium they may be required to pay. Other options may involve aspects of consumer credit, general health records, or medical data sharing, but they do not specifically focus on compiling and exchanging health histories in the same structured manner as the Medical Information Bureau does. Thus, the MIB’s role stands out as a specialized source that distinctly aids insurers in underwriting processes.