OHIO Life Insurance Agent Series 11-44 Questions and Answers
Reinsurers are a specialized branch of the insurance industry because they
The grace period is a period of time
If an agent does NOT send a refund to a policyholder within an expectable time frame, the agent may
Insurance agents have duties and responsibilities to the insured and the insurer. Which of the following responsibilities does an agent owe the insured during the policy year?
Bettie has a $200,000 whole life policy with a $50,000 cash value. She wishes to borrow $30,000 for the purchase of a new van. Which of the following Is TRUE In this situation?
Which activity does NOT require an Insurance agent's license?
What annuity payout option has no additional payouts regardless of when the annuitant dies?
The accumulated cash value of a whole life insurance policy becomes the
An applicant would be charged a higher premium for a life Insurance policy if they were
Something that increases the probability of loss is called
Which of the following is TRUE of a payor benefit rider?
A policyowner may not pay premiums with which frequency?
Statements by an applicant concerning personal health history, family health history, occupation, and hobbies are referred to as
The proposed insured's statements on a life insurance application are considered to be
All the following policies qualify for a 1035 Exchange EXCEPT
Upon the divorce of an insured who designated their spouse as the beneficiary, which of the following actions will result?
Which of the following policies allows the policyowner to change two policy features?
At what age can an Individual begin to receive distributions from an IRA without a tax penalty?
After a request has been received for verification of coverage from a viatical settlement provider, an insurance company authorized to do business shall respond within:
Which of the following individuals has the right to name a beneficiary?
Contributions made to a Roth IRA are
While texting and driving, an Insured loses control of the vehicle and hits a tree. The resulting collision Is
An Insured owns a whole life policy that has accumulated cash value. Which of the following statements Is true about the policy's cash value?
The type of insurance used to indemnify a firm for the loss of earnings brought about by the death or disability of an officer or other significant employee Is
An insured has chosen to receive the payout from her husband's life insurance policy so that she will receive an Income for the next 10 years. At the end of that time, the entire proceeds from the policy will have been paid out. The insured has selected which option?
It is unlawful for a person to provide an advertisement which
The premium mode defines the
Competency of an Individual to enter into an Insurance contract is determined based on
Which of the following describes the process of selection, classification, and rating of risks?
The PRIMARY reason for purchasing life Insurance Is to provide
Falsifying the terms, benefits, advantages, or conditions of an insurance policy Is an example of which of the following?
