Try 100% Updated OH-Life-Agent-Series-11-44 Exam Questions [2024]
Pass OH-Life-Agent-Series-11-44 Exam - Real Questions and Answers
NEW QUESTION # 44
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 # 45
Which of the following individuals has the right to name a beneficiary?
- A. owner
- B. assignee
- C. producer
- D. Insured
Answer: A
NEW QUESTION # 46
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 superintendent
- C. notify the National Association of Insurance Commissioners
- D. obtain approval from the insurer
Answer: B
NEW QUESTION # 47
A policyowner may choose to have his/her life insurance policy dividends do all of the following EXCEPT
- A. reduce the policy premium.
- B. purchase additional insurance protection.
- C. be paid to the policyowner in cash.
- D. accumulate without interest.
Answer: D
NEW QUESTION # 48
Making a statement that is false and maliciously critical of the financial condition of an insurer is known as
- A. misrepresentation.
- B. defamation.
- C. intimidation.
- D. coercion.
Answer: A
NEW QUESTION # 49
After a request has been received for verification of coverage from a viatical settlement provider, an insurance
company authorized to do business shall respond within:
- A. 90 calendar days
- B. 30 calendar days
- C. 60 calendar days
- D. 45 calendar days
Answer: D
NEW QUESTION # 50
When a policy owner requests a partial surrender from her Universal Life Policy she Is requesting which of the
following?
- A. Decrease In the coverage amount.
- B. A loan from the policy.
- C. Cash withdrawal.
- D. Surrender of the policy.
Answer: C
NEW QUESTION # 51
To receive proceeds from a death benefit, a minor
- A. can only be named as a contingent beneficiary.
- B. must have an appointed guardian.
- C. must be related to the insured.
- D. must be at least 16 years old.
Answer: B
NEW QUESTION # 52
All of the following statements regarding a group annuity are correct, EXCEPT
- A. participation is limited to eligible employees.
- B. each employee signs and receives an individual contract.
- C. purchased as part of a structured corporate pension plan.
- D. considered a defined-benefit plan.
Answer: A
NEW QUESTION # 53
To avoid tax consequences, a rollover from a Traditional IRA to another IRA MUST be done within
- A. 60 days.
- B. 30 days.
- C. 90 days.
- D. 45 days.
Answer: A
NEW QUESTION # 54
Which of the following represents a syndicate of underwriters that specialize in Insuring specific types of risk?
- A. reciprocal insurer
- B. fraternal benefit society
- C. risk retention group
- D. Lloyd's association
Answer: C
NEW QUESTION # 55
An insured has a 5-year Renewable Term Life Insurance Policy. Upon exercising the renewable privilege, the
Insured MUST
- A. pay an annual premium that may be higher.
- B. renew for at least 10 years.
- C. convert to a whole life policy.
- D. provide evidence of insurability.
Answer: A
NEW QUESTION # 56
Which of the following retirementplans will allow for a nonworking spouse to set up a separate account and
make contributions based on the working spouse's Income?
- A. IRA
- B. 401(k)
- C. SIMPLE IRA
- D. SEP IRA
Answer: A
NEW QUESTION # 57
Who can surrender an annuity during the accumulation period?
- A. The policyowner.
- B. The beneficiary.
- C. The annuitant.
- D. The company.
Answer: A
NEW QUESTION # 58
In reference to life Insurance in contract law, a person MOST likely will have an insurable interest in insuring
a person's life If
- A. the interest exists at the time of application.
- B. any type of distant family relationship exists with the insured party.
- C. any type of business relationship exists between the insured party and the beneficiary.
- D. the interest exists at the time of death.
Answer: A
NEW QUESTION # 59
Under an executive bonus plan, premiums paid by the employer are
- A. tax deductible to both the employee and employer.
- B. reported as taxable income to the employee.
- C. reported as taxable Income to the employer.
- D. only tax deductible when the bonus is an insurance plan.
Answer: B
NEW QUESTION # 60
The PRIMARY reason for purchasing life Insurance Is to provide
- A. safety of principal.
- B. death benefits.
- C. college tuition.
- D. retirement Income.
Answer: B
NEW QUESTION # 61
It is unlawful for a person to provide an advertisement which
- A. refers to the insurer's financial rating.
- B. points out coverage advantages of a policy.
- C. uses a testimonial.
- D. uses a policy title to inaccurately describe a coverage.
Answer: D
NEW QUESTION # 62
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 # 63
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 awarded to Joe's estate.
- B. will accumulate with interest until another brother dies and then be awarded to the surviving brother.
- C. must be shared equally by Rob and Joe's wife.
- D. will not provide further insurance protection.
Answer: D
NEW QUESTION # 64
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