Regular Free Updates OH-Life-Agent-Series-11-44 Dumps Real Exam Questions Test Engine Nov 12, 2024
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NEW QUESTION # 51
Generally, If a life application Is NOT prepaid, the effective date of coverage begins on the date the
- A. application is postmarked and mailed to the insurer.
- B. application is signed.
- C. company underwriter approves the risk.
- D. policy is delivered and accepted.
Answer: D
NEW QUESTION # 52
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. 60 calendar days
- B. 30 calendar days
- C. 45 calendar days
- D. 90 calendar days
Answer: C
NEW QUESTION # 53
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. suspend the licensee s premium accounts
- B. sentence the licensee up to 30 days in jail
- C. immediately terminate insurer appointments
- D. impose an administrative penalty
Answer: D
NEW QUESTION # 54
Upon annuitization, which of the following will have the HIGHEST monthly payout?
- A. Straight life with guaranteed payments.
- B. Joint life.
- C. Straight life.
- D. Joint and survivor life.
Answer: C
NEW QUESTION # 55
An Insured owns a whole life policy that has accumulated cash value. Which of the following statements Is
true about the policy's cash value?
- A. The growth of the policy's cash value Is not subject to income tax while the policy Is in force.
- B. It is subject to fluctuations of the company's overall performance.
- C. The cash value is not guaranteed.
- D. The policy's cash value is viewed as investment growth and therefore subject to taxation for each
calendar year.
Answer: A
NEW QUESTION # 56
Which rider would allow additional insurance to be purchased at specified dates or events, without additional
underwriting?
- A. Guaranteed renewability.
- B. Cost of living.
- C. Guaranteed insurability.
- D. Disability income.
Answer: C
NEW QUESTION # 57
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is withdrawn?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. income tax.
- C. an estate tax.
- D. capital gains tax.
Answer: B
NEW QUESTION # 58
In which of the following fixed annuity features Is the surrender value tied to Interest rates?
- A. variable sub accounts
- B. fixed value rates
- C. market value adjustments
- D. interest sensitive trigger
Answer: C
NEW QUESTION # 59
Making a statement that is false and maliciously critical of the financial condition of an insurer is known as
- A. defamation.
- B. coercion.
- C. intimidation.
- D. misrepresentation.
Answer: D
NEW QUESTION # 60
At what age can an Individual begin to receive distributions from an IRA without a tax penalty?
- A. 65 1/2 years.
- B. 55 1/2 years.
- C. 63 1/2 years.
- D. 59 1/2 years.
Answer: D
NEW QUESTION # 61
All of the following statements regarding a group annuity are correct, EXCEPT
- A. participation is limited to eligible employees.
- B. considered a defined-benefit plan.
- C. purchased as part of a structured corporate pension plan.
- D. each employee signs and receives an individual contract.
Answer: A
NEW QUESTION # 62
Generally, rates charged for Insurance may NOT be
- A. different for persons withdiffering risk profiles.
- B. cost prohibitive.
- C. discriminatory.
- D. excessive, inadequate, or unfairly discriminatory.
Answer: D
NEW QUESTION # 63
If an agent does NOT send a refund to a policyholder within an expectable time frame, the agent may
- A. receive a deduction in commissions.
- B. be barred from seeking an appeal.
- C. be charged interest on the refund amount.
- D. have his or her license suspended or revoked.
Answer: D
NEW QUESTION # 64
It is unlawful for a person to provide an advertisement which
- A. points out coverage advantages of a policy.
- B. uses a policy title to inaccurately describe a coverage.
- C. uses a testimonial.
- D. refers to the insurer's financial rating.
Answer: B
NEW QUESTION # 65
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 # 66
The proposed insured's statements on a life insurance application are considered to be
- A. warranties.
- B. representations.
- C. absolute statements.
- D. misrepresentations.
Answer: B
NEW QUESTION # 67
A policyowner may not pay premiums with which frequency?
- A. Bi-weekly
- B. Quarterly
- C. Semi-annually
- D. Monthly
Answer: A
NEW QUESTION # 68
Reinsurers are a specialized branch of the insurance industry because they
- A. provide insurance to otherwise uninsurable individuals.
- B. keep premiums low.
- C. provide alternative means.
- D. Insure insurers.
Answer: D
NEW QUESTION # 69
What does a limited payment whole life policy provide?
- A. Pure protection.
- B. Protection to age 65.
- C. Life time protection.
- D. A lower premium.
Answer: D
NEW QUESTION # 70
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 # 71
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