OHIO Life Insurance Agent Series 11-44 (OH-Life-Agent-Series-11-44) Free Practice Test

Question 1

Which of the following statements BEST describes a single premium cash value policy?

A. It requires only one payment to make the policy paid up.

B. It provides for only one premium to be paid without evidence of insurability.

C. It waives one future premium if the owner becomes disabled.

D. It requires the policyowner to pay one premium annually.

Correct Answer: A

Question 2

Which of the following is a life insurance contract written on the life of an individual?

A. Insurance.

B. Single-Life Insurance.

C. Survivorship Policy.

D. Joint Life Contract.

Correct Answer: C

Question 3

An agent's underwriting duties Include which of the following?

A. Issuing the policy.

B. Completing all applications and collecting initial premiums.

C. Declining or accepting an application.

D. Setting premium amounts.

Correct Answer: B

Question 4

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. automatically becomes the beneficiary of the life insurance policy.

C. is eliminated from coverage.

D. may Increase the term coverage of the rider.

Correct Answer: A

Question 5

To avoid tax consequences, a rollover from a Traditional IRA to another IRA MUST be done within

A. 45 days.

B. 90 days.

C. 30 days.

D. 60 days.

Correct Answer: D

Question 6

As a form of level premium permanent Insurance, ordinary life Insurance accumulates a reserve that
eventually

A. requires mandatory cash value distributions.

B. results In a dividend payment to the policyowner.

C. equals the face amount of the policy.

D. ceases to earn interest or grow in a positive earnings direction.

Correct Answer: C

Question 7

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

A. intimidation.

B. misrepresentation.

C. defamation.

D. coercion.

Correct Answer: B

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Ohio Department of Insurance OHIO Life Insurance Agent Series 11-44 (OH-Life-Agent-Series-11-44) Free Practice Test