Apr-2024 Realistic OH-Life-Agent-Series-11-44 Exam Dumps with Accurate & Updated Questions

OH-Life-Agent-Series-11-44 Exam Dumps - PDF Questions and Testing Engine

NEW QUESTION # 12
Which of the following plans will provide a death benefit to the policy's beneficiary Income tax free?

• A. Tax Sheltered Annuity.
• B. Whole Life.
• C. Qualified Retirement.
• D. Annuity.

Answer: B

NEW QUESTION # 13
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. 45 calendar days
• B. 30 calendar days
• C. 60 calendar days
• D. 90 calendar days

Answer: A

NEW QUESTION # 14
Generally, If a life application Is NOT prepaid, the effective date of coverage begins on the date the

• A. policy is delivered and accepted.
• B. application is signed.
• C. application is postmarked and mailed to the insurer.
• D. company underwriter approves the risk.

Answer: A

NEW QUESTION # 15
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. Reduced Premium Dividend Option.
• B. Paid-up Additions Option.
• C. Cash Dividend Option.
• D. Accumulation at Interest Option.

Answer: D

NEW QUESTION # 16
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. Lloyd's association
• D. risk retention group

Answer: D

NEW QUESTION # 17
A policyowner may choose to have his/her life insurance policy dividends do all of the following EXCEPT

• A. purchase additional insurance protection.
• B. be paid to the policyowner in cash.
• C. reduce the policy premium.
• D. accumulate without interest.

Answer: D

NEW QUESTION # 18
Which of the following is a provision in an interest-sensitive life policy which allows the policyowner to
withdraw the policy's cash value Interest free?

• A. Partial Surrender.
• B. Automatic Premium Loan.
• C. Spendthrift Clause.
• D. Waiver of Premium.

Answer: A

NEW QUESTION # 19
Upon annuitization, which of the following will have the HIGHEST monthly payout?

• A. Straight life with guaranteed payments.
• B. Straight life.
• C. Joint and survivor life.
• D. Joint life.

Answer: B

NEW QUESTION # 20
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. any type of distant family relationship exists with the insured party.
• B. the interest exists at the time of death.
• C. the interest exists at the time of application.
• D. any type of business relationship exists between the insured party and the beneficiary.

Answer: C

NEW QUESTION # 21
An accelerated death benefit

• A. pays a portion of the face amount when a policyowner Is determined to be terminally ill.
• B. pays an additional benefit if the policyholder dies as a result of an accident.
• C. allows the policyowner to sell their policy to a third party.
• D. pays only in the event of an accident resulting in death.

Answer: B

NEW QUESTION # 22
Statements by an applicant concerning personal health history, family health history, occupation, and hobbies
are referred to as

• A. depictions.
• B. personal characteristics.
• C. certifications.
• D. representations.

Answer: D

NEW QUESTION # 23
The type of insurance used to indemnify a firm for the loss of earnings brought about by the death or disability
of an officer or other significant employee Is

• A. business continuation life.
• B. key person.
• C. business overhead.
• D. employee welfare.

Answer: B

NEW QUESTION # 24
Which of the following is TRUE of a payor benefit rider?

• A. Pays a monthly income to the policyowner if the insured is totally disabled.
• B. Waives premiums on a Juvenile policy if the policyowner becomes totally disabled or dies.
• C. Increases the value of the policy if the policyowner dies.
• D. Waives policy premiums if the insured becomes totally disabled.

Answer: B

NEW QUESTION # 25
An Insurer would consider which of the following In determining whether to accept a group life plan?

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

Answer: D

NEW QUESTION # 26
Competency of an Individual to enter into an Insurance contract is determined based on

• A. legal purpose.
• B. payment of premium.
• C. ownership.
• D. legal age.

Answer: D

NEW QUESTION # 27
All of the following statements apply to the surrender of an annuity contract EXCEPT

• A. the right to surrender Is available on immediate and deferred annuities.
• B. surrender charges diminish over a stated number of years and will eventually disappear.
• C. surrender charges will reduce the contract payout amount.
• D. the owner has the right to surrender the contract during the accumulation period.

Answer: A

NEW QUESTION # 28
The PRIMARY reason for purchasing life Insurance Is to provide

• A. retirement Income.
• B. safety of principal.
• C. death benefits.
• D. college tuition.

Answer: C

NEW QUESTION # 29
Which rider would allow additional insurance to be purchased at specified dates or events, without additional
underwriting?

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

Answer: C

NEW QUESTION # 30
Kelvin is receiving tax deferred growth until retirement. In what phase would Kelvin's annuity be?

• A. Nonforfeiture period.
• B. Annuity period.
• C. Payout period.
• D. Accumulation period.

Answer: D

NEW QUESTION # 31
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. It is subject to fluctuations of the company's overall performance.
• B. The growth of the policy's cash value Is not subject to income tax while the policy Is in force.
• C. The policy's cash value is viewed as investment growth and therefore subject to taxation for each
  calendar year.
• D. The cash value is not guaranteed.

Answer: B

NEW QUESTION # 32
The accumulated cash value of a whole life insurance policy becomes the

• A. policy loan value upon which the insured may borrow.
• B. funds used to offset policy administration and conversion expenses.
• C. face amount payable upon the insured's death.
• D. amount used to purchase paid up additions to the insured's policy.

Answer: A

NEW QUESTION # 33
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