[Feb 09, 2024] Updates Up to 365 days On Valid OH-Life-Agent-Series-11-44 Braindumps
Best QualityOH-Life-Agent-Series-11-44 Exam Questions Ohio Department of Insurance Test To Gain Brilliante Result
NEW QUESTION # 60
An Insurer would consider which of the following In determining whether to accept a group life plan?
- A. Beneficiary
- B. Average age
- C. Dependents
- D. Grace period
Answer: B
NEW QUESTION # 61
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
- A. must be shared equally by Rob and Joe's wife.
- B. must be awarded to Joe's estate.
- C. will not provide further insurance protection.
- D. will accumulate with interest until another brother dies and then be awarded to the surviving brother.
Answer: C
NEW QUESTION # 62
Which of the following statements is TRUE regarding a waiver of premium rider?
- A. There will be no change in the policy other than the insured no longer has to pay the premiums on the
policy. - B. The death benefit will be reduced by the amount of the unpaid premiums.
- C. The policy's cash value will continue to grow, but at a slower rate because the insured is no longer
paying premiums. - D. The insured will automatically become eligible for accelerated death benefits.
Answer: A
NEW QUESTION # 63
The most common use of a group life insurance policy is to insure
- A. association members.
- B. members of a family.
- C. retirees.
- D. company employees.
Answer: D
NEW QUESTION # 64
A policyowner may choose to have his/her life insurance policy dividends do all of the following EXCEPT
- A. purchase additional insurance protection.
- B. be paid to the policyowner in cash.
- C. accumulate without interest.
- D. reduce the policy premium.
Answer: C
NEW QUESTION # 65
A single premium Immediate annuity Is MOST often used for
- A. retirement income.
- B. children's college expenses.
- C. mortgage payments.
- D. vacation expenses.
Answer: A
NEW QUESTION # 66
To avoid tax consequences, a rollover from a Traditional IRA to another IRA MUST be done within
- A. 30 days.
- B. 90 days.
- C. 45 days.
- D. 60 days.
Answer: D
NEW QUESTION # 67
In which of the following fixed annuity features Is the surrender value tied to Interest rates?
- A. fixed value rates
- B. variable sub accounts
- C. market value adjustments
- D. interest sensitive trigger
Answer: C
NEW QUESTION # 68
Something that increases the probability of loss is called
- A. a hazard.
- B. a peril.
- C. an exposure.
- D. a risk.
Answer: A
NEW QUESTION # 69
In which of the following dividend options would an Insurer invest the policyowners money and add interest
earnings to the Initial amount of the dividends as such earnings accrue?
- A. Cash Dividend Option.
- B. Accumulation at Interest Option.
- C. Reduced Premium Dividend Option.
- D. Paid-up Additions Option.
Answer: B
NEW QUESTION # 70
Under the children's term rider, what occurs when a child reaches the specified age? He or she
- A. is eliminated from coverage.
- B. automatically becomes the beneficiary of the life insurance policy.
- C. may Increase the term coverage of the rider.
- D. must show evidence of insurability to remain covered.
Answer: D
NEW QUESTION # 71
The grace period is a period of time
- A. after the premium is due but while the policy remains in force.
- B. between the death of the insured individual and the payment of the benefits.
- C. after the premium is received and before the policy is issued.
- D. after the premium is paid and before the policy is issued.
Answer: A
NEW QUESTION # 72
After the hearing, if the insurance superintendent has determined a licensee has committed a violation of Ohio
Insurance Laws, what can the insurance superintendent do?
- A. impose an administrative penalty
- B. sentence the licensee up to 30 days in jail
- C. immediately terminate insurer appointments
- D. suspend the licensee s premium accounts
Answer: A
NEW QUESTION # 73
Which nonforfeiture option allows the policyowner to purchase less coverage for life?
- A. Reduced Paid-Up Insurance.
- B. Extended Term.
- C. Cash Surrender Value.
- D. Settlement Value.
Answer: A
NEW QUESTION # 74
When a beneficiary Inherits a traditional IRA, which of the following Is TRUE about taxation when the money
is withdrawn? The beneficiary pays
- A. an estate tax.
- B. capital gains tax.
- C. income tax.
- D. no tax.
Answer: C
NEW QUESTION # 75
Under Ohio insurance laws, what must a licensee do prior to operating under an assumed business name?
- A. notify all prospective insureds
- B. notify the National Association of Insurance Commissioners
- C. obtain approval from the insurer
- D. notify the superintendent
Answer: D
NEW QUESTION # 76
Generally, rates charged for Insurance may NOT be
- A. excessive, inadequate, or unfairly discriminatory.
- B. different for persons withdiffering risk profiles.
- C. cost prohibitive.
- D. discriminatory.
Answer: A
NEW QUESTION # 77
Without written consent, a policyowner CANNOT change the beneficiary If he has named
- A. a permanent beneficiary.
- B. an irrevocable beneficiary.
- C. a contingent beneficiary.
- D. a revocable beneficiary.
Answer: B
NEW QUESTION # 78
Interest earned on a Traditional IRA is taxed
- A. only if there is a premature distribution.
- B. at distribution.
- C. during the accumulation period.
- D. prior to contribution.
Answer: B
NEW QUESTION # 79
Making a statement that is false and maliciously critical of the financial condition of an insurer is known as
- A. intimidation.
- B. misrepresentation.
- C. coercion.
- D. defamation.
Answer: B
NEW QUESTION # 80
Risks are generally NOT Insurable if
- A. deductibles would be required.
- B. there are many individuals who may also experience a similar loss.
- C. the policyholder has a policy from another insurer.
- D. the loss is expected.
Answer: D
NEW QUESTION # 81
To receive proceeds from a death benefit, a minor
- A. must be at least 16 years old.
- B. must have an appointed guardian.
- C. must be related to the insured.
- D. can only be named as a contingent beneficiary.
Answer: B
NEW QUESTION # 82
What annuity payout option has no additional payouts regardless of when the annuitant dies?
- A. Installment refund.
- B. Life only.
- C. Life certain.
- D. Cash refund.
Answer: B
NEW QUESTION # 83
Which of the following individuals has the right to name a beneficiary?
- A. owner
- B. assignee
- C. Insured
- D. producer
Answer: A
NEW QUESTION # 84
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