(2024) OH-Life-Agent-Series-11-44 Dumps and Practice Test (107 Questions)
Guide (New 2024) Actual Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Questions
NEW QUESTION # 16
Under what circumstances must an agent provide his or her business records to the superintendent of
Insurance?
- A. upon request of the superintendent
- B. by authorization from the National Association of Insurance Commissioners (NAIC)
- C. under no circumstances due to privacy consideration
- D. upon request of an insured
Answer: A
NEW QUESTION # 17
Generally, rates charged for Insurance may NOT be
- A. cost prohibitive.
- B. discriminatory.
- C. different for persons withdiffering risk profiles.
- D. excessive, inadequate, or unfairly discriminatory.
Answer: D
NEW QUESTION # 18
Which of the following plans will provide a death benefit to the policy's beneficiary Income tax free?
- A. Qualified Retirement.
- B. Tax Sheltered Annuity.
- C. Whole Life.
- D. Annuity.
Answer: C
NEW QUESTION # 19
The period after an annuity Is purchased but before distributions begin Is referred to as the
- A. endowment phase.
- B. accumulation phase.
- C. annuity phase.
- D. build-up phase.
Answer: B
NEW QUESTION # 20
An exposure Is a condition or situation that presents the possibility of
- A. loss.
- B. hazard.
- C. peril.
- D. indemnity.
Answer: A
NEW QUESTION # 21
An insured has a 5-year Renewable Term Life Insurance Policy. Upon exercising the renewable privilege, the
Insured MUST
- A. provide evidence of insurability.
- B. pay an annual premium that may be higher.
- C. renew for at least 10 years.
- D. convert to a whole life policy.
Answer: B
NEW QUESTION # 22
Contributions made to a Roth IRA are
- A. partially tax deductible.
- B. only tax deductible at age 50 or older.
- C. tax deductible at retirement.
- D. not tax deductible.
Answer: D
NEW QUESTION # 23
All the following policies qualify for a 1035 Exchange EXCEPT
- A. a whole life policy to another whole life policy.
- B. a whole life policy to an annuity.
- C. an annuity to a whole life policy.
- D. an annuity to another annuity.
Answer: C
NEW QUESTION # 24
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. graded premium whole life.
- B. variable universal life.
- C. adjustable life.
- D. universal life.
Answer: B
NEW QUESTION # 25
An applicant would be charged a higher premium for a life Insurance policy if they were
- A. married.
- B. younger.
- C. deaf.
- D. older.
Answer: D
NEW QUESTION # 26
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. Fair Credit Reporting Act
- B. McCarran-Ferguson Act
- C. Unauthorized Insurers Service of Process Act
- D. Dodd Frank Act
Answer: A
NEW QUESTION # 27
Which of the following is TRUE of a payor benefit rider?
- A. Increases the value of the policy if the policyowner dies.
- B. Pays a monthly income to the policyowner if the insured is totally disabled.
- C. Waives policy premiums if the insured becomes totally disabled.
- D. Waives premiums on a Juvenile policy if the policyowner becomes totally disabled or dies.
Answer: D
NEW QUESTION # 28
An immediate annuity begins making payments after the
- A. policy has been in force for one year.
- B. policyholder suffers a disability.
- C. first premium has been paid.
- D. policy reaches its maturation date.
Answer: C
NEW QUESTION # 29
Upon annuitization, which of the following will have the HIGHEST monthly payout?
- A. Straight life with guaranteed payments.
- B. Joint life.
- C. Joint and survivor life.
- D. Straight life.
Answer: D
NEW QUESTION # 30
Who can surrender an annuity during the accumulation period?
- A. The annuitant.
- B. The company.
- C. The beneficiary.
- D. The policyowner.
Answer: D
NEW QUESTION # 31
An annuitant dies during the accumulation period. What happens to the cash value in the annuity?
- A. The cash value is paid into the estate.
- B. The cash value is paid to the beneficiary.
- C. The cash value is paid to the IRS.
- D. The company keeps the cash value.
Answer: A
NEW QUESTION # 32
Which activity does NOT require an Insurance agent's license?
- A. negotiating
- B. soliciting
- C. underwriting
- D. selling
Answer: C
NEW QUESTION # 33
Statements by an applicant concerning personal health history, family health history, occupation, and hobbies
are referred to as
- A. depictions.
- B. certifications.
- C. personal characteristics.
- D. representations.
Answer: D
NEW QUESTION # 34
Reinsurers are a specialized branch of the insurance industry because they
- A. provide alternative means.
- B. keep premiums low.
- C. provide insurance to otherwise uninsurable individuals.
- D. Insure insurers.
Answer: D
NEW QUESTION # 35
To receive proceeds from a death benefit, a minor
- A. must have an appointed guardian.
- B. must be related to the insured.
- C. can only be named as a contingent beneficiary.
- D. must be at least 16 years old.
Answer: A
NEW QUESTION # 36
The PRIMARY reason for purchasing life Insurance Is to provide
- A. death benefits.
- B. retirement Income.
- C. safety of principal.
- D. college tuition.
Answer: A
NEW QUESTION # 37
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 of the policy, minus any additional premiums the Insurance
company would have paid based on the Insured's actual 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 as stated in the policy, as age is not considered a relevant factor.
- D. The insurer is not liable to pay any amount due to the insured's misstatement of age.
Answer: B
NEW QUESTION # 38
As a form of level premium permanent Insurance, ordinary life Insurance accumulates a reserve that
eventually
- A. results In a dividend payment to the policyowner.
- B. ceases to earn interest or grow in a positive earnings direction.
- C. equals the face amount of the policy.
- D. requires mandatory cash value distributions.
Answer: C
NEW QUESTION # 39
An agent's underwriting duties Include which of the following?
- A. Completing all applications and collecting initial premiums.
- B. Issuing the policy.
- C. Setting premium amounts.
- D. Declining or accepting an application.
Answer: A
NEW QUESTION # 40
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