OH-LIFE-AGENT-SERIES-11-44 Online Practice Questions and Answers

An insured wants to purchase a policy with three key elements: flexible premium, death benefit, and the choice of mutual funds where the cash value will be Invested In a separate account. The Insured should purchase

A. universal life.

B. adjustable life.

C. variable universal life.

D. graded premium whole life.

Which of the following is TRUE of a payor benefit rider?

A. Waives premiums on a Juvenile policy if the policyowner becomes totally disabled or dies.

B. Pays a monthly income to the policyowner if the insured is totally disabled.

C. Waives policy premiums if the insured becomes totally disabled.

D. Increases the value of the policy if the policyowner dies.

The PRIMARY reason for purchasing life Insurance Is to provide

A. death benefits.

B. college tuition.

C. retirement Income.

D. safety of principal.

An insured has chosen to receive the payout from her husband's life insurance policy so that she will receive an Income for the next 10 years. At the end of that time, the entire proceeds from the policy will have been paid out. The insured has selected which option?

A. Fixed period.

B. Interest only.

C. Fixed amount.

D. Life income.

Under what circumstances must an agent provide his or her business records to the superintendent of Insurance?

A. upon request of an insured

B. upon request of the superintendent

C. under no circumstances due to privacy consideration

D. by authorization from the National Association of Insurance Commissioners (NAIC)

An agent's actions or deeds demonstrate what kind of authority?

A. apparent

B. delegated

C. express

D. inherent

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

A. depictions.

B. certifications.

C. representations.

D. personal characteristics.

An Individual buys an annuity that will pay her spouse an income for 20 years. If the spouse dies within that time, the Income will be paid to their children for the remainder of the period. What kind of annuity did the Insured buy?

A. Life annuity with period certain

B. Joint life and survivorship annuity

C. Joint life annuity

D. Temporary annuity certain

Deliberate withholding of material facts that would affect the validity of an Insurance policy or a claim under the policy Is known as

A. slanting.

B. concealment.

C. misrepresentation.

D. aleatory contract.

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