Easy To Download Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Dumps Updated 107 Questions
New Updated OH-Life-Agent-Series-11-44 Exam Questions 2024
NEW QUESTION # 28
Which of the following is a life insurance contract written on the life of an individual?
- A. Joint Life Contract.
- B. Single-Life Insurance.
- C. Insurance.
- D. Survivorship Policy.
Answer: D
NEW QUESTION # 29
An agent's actions or deeds demonstrate what kind of authority?
- A. inherent
- B. delegated
- C. express
- D. apparent
Answer: D
NEW QUESTION # 30
What annuity payout option has no additional payouts regardless of when the annuitant dies?
- A. Life only.
- B. Cash refund.
- C. Life certain.
- D. Installment refund.
Answer: A
NEW QUESTION # 31
To avoid tax consequences, a rollover from a Traditional IRA to another IRA MUST be done within
- A. 90 days.
- B. 45 days.
- C. 60 days.
- D. 30 days.
Answer: C
NEW QUESTION # 32
Each of the following are characteristics of a fixed annuity contract EXCEPT
- A. it may be sold as an immediate or deferred annuity.
- B. the minimum interest rate is guaranteed in the contract.
- C. benefit payments remain level.
- D. funds are Invested in a separate account.
Answer: D
NEW QUESTION # 33
Under Ohio insurance laws, what must a licensee do prior to operating under an assumed business name?
- A. notify the National Association of Insurance Commissioners
- B. obtain approval from the insurer
- C. notify all prospective insureds
- D. notify the superintendent
Answer: D
NEW QUESTION # 34
Which of the following represents a syndicate of underwriters that specialize in Insuring specific types of risk?
- A. fraternal benefit society
- B. reciprocal insurer
- C. Lloyd's association
- D. risk retention group
Answer: D
NEW QUESTION # 35
Which of the following dividend options is taxable?
- A. 1-year term.
- B. Accumulation at interest.
- C. Paid up additions.
- D. Return of premium.
Answer: B
NEW QUESTION # 36
A single premium Immediate annuity Is MOST often used for
- A. vacation expenses.
- B. children's college expenses.
- C. mortgage payments.
- D. retirement income.
Answer: D
NEW QUESTION # 37
All the following policies qualify for a 1035 Exchange EXCEPT
- A. a whole life policy to another whole life policy.
- B. an annuity to a whole life policy.
- C. a whole life policy to an annuity.
- D. an annuity to another annuity.
Answer: B
NEW QUESTION # 38
Which of the following individuals has the right to name a beneficiary?
- A. assignee
- B. owner
- C. Insured
- D. producer
Answer: B
NEW QUESTION # 39
To receive proceeds from a death benefit, a minor
- A. must have an appointed guardian.
- B. must be related to the insured.
- C. must be at least 16 years old.
- D. can only be named as a contingent beneficiary.
Answer: A
NEW QUESTION # 40
An accelerated death benefit
- A. pays an additional benefit if the policyholder dies as a result of an accident.
- B. pays a portion of the face amount when a policyowner Is determined to be terminally ill.
- C. pays only in the event of an accident resulting in death.
- D. allows the policyowner to sell their policy to a third party.
Answer: A
NEW QUESTION # 41
The grace period is a period of time
- A. after the premium is received and before the policy is issued.
- B. after the premium is paid and before the policy is issued.
- C. between the death of the insured individual and the payment of the benefits.
- D. after the premium is due but while the policy remains in force.
Answer: D
NEW QUESTION # 42
What is an Insurer's liability when it Is discovered after an Insured dies that the Insured's age on the policy was
misstated?
- A. The insurer is not liable to pay any amount due to the insured's misstatement of age.
- B. The insurer must pay a prorated amount of the policy based on the amount of insurance the insured's
premiums would have been if purchased at the correct age. - C. The insurer must pay the full amount of the policy, minus any additional premiums the Insurance
company would have paid based on the Insured's actual age. - D. The insurer must pay the full amount as stated in the policy, as age is not considered a relevant factor.
Answer: B
NEW QUESTION # 43
The Group Life Underwriting risk selection process helps protect Insurers from
- A. medical underwriting.
- B. risk selection.
- C. adverse selection.
- D. risk underwriting.
Answer: C
NEW QUESTION # 44
Which activity does NOT require an Insurance agent's license?
- A. soliciting
- B. negotiating
- C. selling
- D. underwriting
Answer: D
NEW QUESTION # 45
Which of the following is a provision in an interest-sensitive life policy which allows the policyowner to
withdraw the policy's cash value Interest free?
- A. Partial Surrender.
- B. Automatic Premium Loan.
- C. Spendthrift Clause.
- D. Waiver of Premium.
Answer: A
NEW QUESTION # 46
The only beneficiary named in a life insurance policy died before the Insured. The policyowner did not name a
new beneficiary. When a claim is filed, the death benefit would be paid to the
- A. beneficiary's estate.
- B. Insured's next of kin.
- C. insured's estate.
- D. policyowner.
Answer: C
NEW QUESTION # 47
Making a statement that is false and maliciously critical of the financial condition of an insurer is known as
- A. defamation.
- B. coercion.
- C. misrepresentation.
- D. intimidation.
Answer: C
NEW QUESTION # 48
Under the children's term rider, what occurs when a child reaches the specified age? He or she
- A. automatically becomes the beneficiary of the life insurance policy.
- B. is eliminated from coverage.
- C. may Increase the term coverage of the rider.
- D. must show evidence of insurability to remain covered.
Answer: D
NEW QUESTION # 49
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