Ohio Department of Insurance OH-LIFE-AGENT-SERIES-11-44 Online Practice Questions and Exam Preparation

Ohio Department of Insurance OH-LIFE-AGENT-SERIES-11-44 Online Questions & Answers

• Question 1:

  The purpose of insurance Is to

  A. avoid risk.
  B. reduce risk.
  C. transfer risk.
  D. increase risk.
  C. transfer risk.

• Question 2:

  An Insurer would consider which of the following In determining whether to accept a group life plan?

  A. Grace period
  B. Beneficiary
  C. Average age
  D. Dependents
  C. Average age

• Question 3:

  The premium mode defines the

  A. premium limit.
  B. premium amount.
  C. frequency of the premium payment.
  D. method of premium payment.
  C. frequency of the premium payment.

• Question 4:

  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 policy's cash value will continue to grow, but at a slower rate because the insured is no longer paying premiums.
  C. The death benefit will be reduced by the amount of the unpaid premiums.
  D. The insured will automatically become eligible for accelerated death benefits.
  A. There will be no change in the policy other than the insured no longer has to pay the premiums on the policy.

• Question 5:

  An insured owns a whole life insurance policy on himself. He would also like coverage for his minor son and/or daughter. One way the Insured can accomplish this goal Is to purchase a

  A. child term rider.
  B. family income rider.
  C. famitp maintenance rider.
  D. guaranteed insurability rider.
  C. famitp maintenance rider.

• Question 6:

  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. Accumulation at Interest Option.
  B. Paid-up Additions Option.
  C. Cash Dividend Option.
  D. Reduced Premium Dividend Option.
  A. Accumulation at Interest Option.

• Question 7:

  What does a limited payment whole life policy provide?

  A. Protection to age 65.
  B. Life time protection.
  C. A lower premium.
  D. Pure protection.
  C. A lower premium.

• Question 8:

  The most common use of a group life insurance policy is to insure

  A. retirees.
  B. company employees.
  C. members of a family.
  D. association members.
  B. company employees.

• Question 9:

  All of the following statements regarding a group annuity are correct, EXCEPT

  A. purchased as part of a structured corporate pension plan.
  B. each employee signs and receives an individual contract.
  C. participation is limited to eligible employees.
  D. considered a defined-benefit plan.
  C. participation is limited to eligible employees.

• Question 10:

  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

  A. interest only.
  B. lump sum.
  C. fixed period.
  D. fixed amount.
  A. interest only.