OHIO Life Insurance Agent Series 11-44 Questions and Answers
If an Insured under a life insurance policy dies with an outstanding loan balance then the death benefit
will
A policyowner may not pay premiums with which frequency?
Upon annuitization, which of the following will have the HIGHEST monthly payout?
All the following policies qualify for a 1035 Exchange EXCEPT
An agent qualified to sell variable products in Ohio must report each of the following to the superintendent of Insurance EXCEPT
An accelerated death benefit
An Insurer would consider which of the following In determining whether to accept a group life plan?
Survivorship life insurance policies are useful in estate planning because they
Which of the following is a life insurance contract written on the life of an individual?
Rob, Joe, and Mike are brothers who have a $60,000 "first-to-die" Joint life policy covering all three of their lives. If Joe dies first, the policy proceeds
To avoid tax consequences, a rollover from a Traditional IRA to another IRA MUST be done within
An insured wants to purchase a policy with three key elements: flexible premium, death benefit, and the choice of mutual funds where the cash value will be Invested In a separate account. The Insured should purchase
Under Ohio insurance laws, what must a licensee do prior to operating under an assumed business name?
A single premium Immediate annuity Is MOST often used for
A policyowner may choose to have his/her life insurance policy dividends do all of the following EXCEPT
Kelvin is receiving tax deferred growth until retirement. In what phase would Kelvin's annuity be?
The settlement option that allows proceeds to remain with the Insurer and the earnings to be paid to the beneficiary on a monthly basis is called
Making a statement that is false and maliciously critical of the financial condition of an insurer is known as
Which of the following dividend options is taxable?
Generally, If a life application Is NOT prepaid, the effective date of coverage begins on the date the
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?
Competency of an Individual to enter into an Insurance contract is determined based on
Loans may generally be obtained against the cash value of a personal life Insurance policy and policy loan proceeds
Upon the divorce of an insured who designated their spouse as the beneficiary, which of the following actions will result?
Statements by an applicant concerning personal health history, family health history, occupation, and hobbies are referred to as
Which nonforfeiture option allows the policyowner to purchase less coverage for life?
If an agent does NOT send a refund to a policyholder within an expectable time frame, the agent may
Which of the following is a characteristic of a contract of adhesion?
An immediate annuity begins making payments after the
Under what circumstances must an agent provide his or her business records to the superintendent of Insurance?
Each of the following are characteristics of a fixed annuity contract EXCEPT
