OH-Life-Agent-Series-11-44 Exam Practice Questions prepared by Ohio Department of Insurance Professionals
Use Valid New OH-Life-Agent-Series-11-44 Questions - Top choice Help You Gain Success
NEW QUESTION # 24
Which nonforfeiture option allows the policyowner to purchase less coverage for life?
- A. Settlement Value.
- B. Cash Surrender Value.
- C. Extended Term.
- D. Reduced Paid-Up Insurance.
Answer: D
NEW QUESTION # 25
Which activity does NOT require an Insurance agent's license?
- A. underwriting
- B. soliciting
- C. negotiating
- D. selling
Answer: A
NEW QUESTION # 26
Without written consent, a policyowner CANNOT change the beneficiary If he has named
- A. a permanent beneficiary.
- B. a contingent beneficiary.
- C. an irrevocable beneficiary.
- D. a revocable beneficiary.
Answer: C
NEW QUESTION # 27
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. 401(k)
- B. SIMPLE IRA
- C. IRA
- D. SEP IRA
Answer: C
NEW QUESTION # 28
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. provide evidence of insurability.
- C. convert to a whole life policy.
- D. renew for at least 10 years.
Answer: A
NEW QUESTION # 29
Contributions made to a Roth IRA are
- A. partially tax deductible.
- B. tax deductible at retirement.
- C. not tax deductible.
- D. only tax deductible at age 50 or older.
Answer: C
NEW QUESTION # 30
Extended term Insurance can be selected under which whole life policy provision?
- A. settlement
- B. cash value
- C. interest-only
- D. nonforfeiture
Answer: D
NEW QUESTION # 31
An Insurer would consider which of the following In determining whether to accept a group life plan?
- A. Beneficiary
- B. Average age
- C. Grace period
- D. Dependents
Answer: B
NEW QUESTION # 32
When a beneficiary Inherits a traditional IRA, which of the following Is TRUE about taxation when the money
is withdrawn? The beneficiary pays
- A. capital gains tax.
- B. income tax.
- C. an estate tax.
- D. no tax.
Answer: B
NEW QUESTION # 33
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 awarded to Joe's estate.
- C. must be shared equally by Rob and Joe's wife.
- D. will accumulate with interest until another brother dies and then be awarded to the surviving brother.
Answer: A
NEW QUESTION # 34
Upon the divorce of an insured who designated their spouse as the beneficiary, which of the following actions
will result?
- A. the spouse designated as beneficiary will remain an irrevocable beneficiary
- B. the designation of the spouse as a beneficiary is revoked
- C. the insured must pay 50% of the premiums paid to the spouse named as the beneficiary
- D. the policy will automatically be terminated
Answer: B
NEW QUESTION # 35
The proposed insured's statements on a life insurance application are considered to be
- A. absolute statements.
- B. misrepresentations.
- C. warranties.
- D. representations.
Answer: D
NEW QUESTION # 36
Which of the following dividend options is taxable?
- A. Accumulation at interest.
- B. Return of premium.
- C. 1-year term.
- D. Paid up additions.
Answer: A
NEW QUESTION # 37
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. 30 calendar days
- B. 60 calendar days
- C. 45 calendar days
- D. 90 calendar days
Answer: C
NEW QUESTION # 38
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 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. - 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: C
NEW QUESTION # 39
The only beneficiary named in a life insurance policy died before the Insured. The policyowner did not name a
new beneficiary. When a claim is filed, the death benefit would be paid to the
- A. Insured's next of kin.
- B. beneficiary's estate.
- C. policyowner.
- D. insured's estate.
Answer: D
NEW QUESTION # 40
Under the children's term rider, what occurs when a child reaches the specified age? He or she
- A. must show evidence of insurability to remain covered.
- B. may Increase the term coverage of the rider.
- C. automatically becomes the beneficiary of the life insurance policy.
- D. is eliminated from coverage.
Answer: A
NEW QUESTION # 41
All the following policies qualify for a 1035 Exchange EXCEPT
- A. a whole life policy to an annuity.
- B. an annuity to a whole life policy.
- C. a whole life policy to another whole life policy.
- D. an annuity to another annuity.
Answer: B
NEW QUESTION # 42
An annuitant dies during the accumulation period. What happens to the cash value in the annuity?
- A. The company keeps the cash value.
- B. The cash value is paid to the beneficiary.
- C. The cash value is paid to the IRS.
- D. The cash value is paid into the estate.
Answer: D
NEW QUESTION # 43
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. Unauthorized Insurers Service of Process Act
- C. McCarran-Ferguson Act
- D. Dodd Frank Act
Answer: A
NEW QUESTION # 44
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 received and before the policy is issued.
- C. after the premium is paid and before the policy is issued.
- D. after the premium is due but while the policy remains in force.
Answer: D
NEW QUESTION # 45
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