2024 Valid OH-Life-Agent-Series-11-44 Real Exam Questions, practice OHIO Life Insurance
Latest Success Metrics For Actual OH-Life-Agent-Series-11-44 Exam (Updated 107 Questions)
NEW QUESTION # 59
Extended term Insurance can be selected under which whole life policy provision?
- A. settlement
- B. interest-only
- C. nonforfeiture
- D. cash value
Answer: C
NEW QUESTION # 60
Loans may generally be obtained against the cash value of a personal life Insurance policy and policy loan
proceeds
- A. generate nontaxable interest income.
- B. are not treated as taxable income.
- C. accelerate the benefits under the policy.
- D. are subject to Federal estate tax.
Answer: B
NEW QUESTION # 61
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 must pay the full amount as stated in the policy, as age is not considered a relevant factor.
- 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 is not liable to pay any amount due to the insured's misstatement of age.
- D. 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.
Answer: B
NEW QUESTION # 62
Which of the following is a characteristic of a non-admitted Insurer?
- A. A non-admitted insurer is not afforded protection by the guaranty fund.
- B. A non-admitted insurer is also known as a domestic insurer.
- C. A non-admitted insurer is required to submit rates for approval.
- D. A non-admitted insurer is required to submit forms to the Department of Insurance.
Answer: A
NEW QUESTION # 63
An immediate annuity begins making payments after the
- A. policy reaches its maturation date.
- B. policyholder suffers a disability.
- C. policy has been in force for one year.
- D. first premium has been paid.
Answer: D
NEW QUESTION # 64
Under what circumstances must an agent provide his or her business records to the superintendent of
Insurance?
- A. upon request of an insured
- B. by authorization from the National Association of Insurance Commissioners (NAIC)
- C. upon request of the superintendent
- D. under no circumstances due to privacy consideration
Answer: C
NEW QUESTION # 65
The grace period is a period of time
- A. between the death of the insured individual and the payment of the benefits.
- B. after the premium is paid and before the policy is issued.
- C. after the premium is received and before the policy is issued.
- D. after the premium is due but while the policy remains in force.
Answer: D
NEW QUESTION # 66
Under Ohio insurance laws, what must a licensee do prior to operating under an assumed business name?
- A. obtain approval from the insurer
- B. notify all prospective insureds
- C. notify the superintendent
- D. notify the National Association of Insurance Commissioners
Answer: C
NEW QUESTION # 67
A single premium Immediate annuity Is MOST often used for
- A. children's college expenses.
- B. mortgage payments.
- C. retirement income.
- D. vacation expenses.
Answer: C
NEW QUESTION # 68
Generally, If a life application Is NOT prepaid, the effective date of coverage begins on the date the
- A. application is signed.
- B. policy is delivered and accepted.
- C. application is postmarked and mailed to the insurer.
- D. company underwriter approves the risk.
Answer: B
NEW QUESTION # 69
What law do all Insurers and their agents need to comply with In regards to Information being obtained from a
third party concerning the applicant?
- A. Dodd Frank Act
- B. Fair Credit Reporting Act
- C. Unauthorized Insurers Service of Process Act
- D. McCarran-Ferguson Act
Answer: B
NEW QUESTION # 70
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?
- A. Loans can only be taken for hardship situations.
- B. Whole life policies do not have any loan provisions.
- C. There is no requirement that she pay back the loan.
- D. This type of loan is interest free.
Answer: C
NEW QUESTION # 71
Which of the following policies allows the policyowner to change two policy features?
- A. Adjustable Life.
- B. Credit Life.
- C. Modified Life.
- D. Term Life.
Answer: A
NEW QUESTION # 72
Kelvin is receiving tax deferred growth until retirement. In what phase would Kelvin's annuity be?
- A. Nonforfeiture period.
- B. Payout period.
- C. Annuity period.
- D. Accumulation period.
Answer: D
NEW QUESTION # 73
The proposed insured's statements on a life insurance application are considered to be
- A. representations.
- B. misrepresentations.
- C. absolute statements.
- D. warranties.
Answer: A
NEW QUESTION # 74
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
- A. adjustable life.
- B. variable universal life.
- C. universal life.
- D. graded premium whole life.
Answer: B
NEW QUESTION # 75
While texting and driving, an Insured loses control of the vehicle and hits a tree. The resulting collision Is
- A. a risk.
- B. a hazard.
- C. an exposure.
- D. a peril.
Answer: D
NEW QUESTION # 76
The structure of a credit life insurance policy does NOT allow for
- A. coverage amount to match the loan amount.
- B. group policies.
- C. Individual policies.
- D. conversion privileges.
Answer: D
NEW QUESTION # 77
Which of the following individuals has the right to name a beneficiary?
- A. producer
- B. Insured
- C. assignee
- D. owner
Answer: D
NEW QUESTION # 78
Which rider would allow additional insurance to be purchased at specified dates or events, without additional
underwriting?
- A. Cost of living.
- B. Disability income.
- C. Guaranteed insurability.
- D. Guaranteed renewability.
Answer: C
NEW QUESTION # 79
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