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:

  Which activity does NOT require an Insurance agent's license?

  A. negotiating
  B. selling
  C. soliciting
  D. underwriting
  D. underwriting

• Question 2:

  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. suspend the licensee s premium accounts
  C. immediately terminate insurer appointments
  D. sentence the licensee up to 30 days in jail
  A. impose an administrative penalty

• Question 3:

  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 is not liable to pay any amount due to the insured's misstatement of age.
  B. 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.
  C. 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.
  D. The insurer must pay the full amount as stated in the policy, as age is not considered a relevant factor.
  C. 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.

• Question 4:

  When a beneficiary Inherits a traditional IRA, which of the following Is TRUE about taxation when the money is withdrawn? The beneficiary pays

  A. no tax.
  B. an estate tax.
  C. capital gains tax.
  D. income tax.
  D. income tax.

• Question 5:

  What is the approach to assessing the consumer's need for life insurance that focuses on an individual's future stream of income?

  A. Needs approach
  B. Affordability approach
  C. Human Life Value approach
  D. Return of Investment approach
  C. Human Life Value approach

• Question 6:

  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. will not provide further insurance protection.
  B. must be shared equally by Rob and Joe's wife.
  C. will accumulate with interest until another brother dies and then be awarded to the surviving brother.
  D. must be awarded to Joe's estate.
  A. will not provide further insurance protection.

• Question 7:

  Making a statement that is false and maliciously critical of the financial condition of an insurer is known as

  A. coercion.
  B. defamation.
  C. intimidation.
  D. misrepresentation.
  D. misrepresentation.

• Question 8:

  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 9:

  It is unlawful for a person to provide an advertisement which

  A. uses a testimonial.
  B. refers to the insurer's financial rating.
  C. points out coverage advantages of a policy.
  D. uses a policy title to inaccurately describe a coverage.
  D. uses a policy title to inaccurately describe a coverage.

• Question 10:

  Which rider would allow additional insurance to be purchased at specified dates or events, without additional underwriting?

  A. Guaranteed renewability.
  B. Guaranteed insurability.
  C. Cost of living.
  D. Disability income.
  B. Guaranteed insurability.