OH-Life-Agent-Series-11-44 PDF Dumps | Oct 31, 2024 Recently Updated Questions
OH-Life-Agent-Series-11-44 Exam Questions – Valid OH-Life-Agent-Series-11-44 Dumps Pdf
NEW QUESTION # 26
Extended term Insurance can be selected under which whole life policy provision?
- A. settlement
- B. interest-only
- C. nonforfeiture
- D. cash value
Answer: C
NEW QUESTION # 27
All of the following statements apply to the surrender of an annuity contract EXCEPT
- A. surrender charges will reduce the contract payout amount.
- B. the owner has the right to surrender the contract during the accumulation period.
- C. the right to surrender Is available on immediate and deferred annuities.
- D. surrender charges diminish over a stated number of years and will eventually disappear.
Answer: C
NEW QUESTION # 28
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.
Answer: D
NEW QUESTION # 29
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. Life income.
- B. Fixed amount.
- C. Interest only.
- D. Fixed period.
Answer: D
NEW QUESTION # 30
A policyowner may choose to have his/her life insurance policy dividends do all of the following EXCEPT
- A. be paid to the policyowner in cash.
- B. purchase additional insurance protection.
- C. reduce the policy premium.
- D. accumulate without interest.
Answer: D
NEW QUESTION # 31
Which of the following represents a syndicate of underwriters that specialize in Insuring specific types of risk?
- A. risk retention group
- B. fraternal benefit society
- C. Lloyd's association
- D. reciprocal insurer
Answer: A
NEW QUESTION # 32
At what age can an Individual begin to receive distributions from an IRA without a tax penalty?
- A. 55 1/2 years.
- B. 65 1/2 years.
- C. 63 1/2 years.
- D. 59 1/2 years.
Answer: D
NEW QUESTION # 33
Which Is the name of the policy that combines a universal life policy with investment choices?
- A. Variable universal life policy.
- B. Straight universal life policy.
- C. Flexible universal life policy.
- D. Interest-sensitive universal life policy.
Answer: A
NEW QUESTION # 34
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. Disability income.
- D. Guaranteed insurability.
Answer: D
NEW QUESTION # 35
Which of the following statements BEST describes a single premium cash value policy?
- A. It waives one future premium if the owner becomes disabled.
- B. It requires the policyowner to pay one premium annually.
- C. It requires only one payment to make the policy paid up.
- D. It provides for only one premium to be paid without evidence of insurability.
Answer: C
NEW QUESTION # 36
In Ohio, an agent must be appointed by the Insurer within how many days from the date the agency contract Is
executed, or the first Insurance application Is submitted?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: A
NEW QUESTION # 37
An Insurer would consider which of the following In determining whether to accept a group life plan?
- A. Beneficiary
- B. Dependents
- C. Average age
- D. Grace period
Answer: C
NEW QUESTION # 38
Which of the following individuals has the right to name a beneficiary?
- A. Insured
- B. assignee
- C. owner
- D. producer
Answer: C
NEW QUESTION # 39
Competency of an Individual to enter into an Insurance contract is determined based on
- A. legal age.
- B. legal purpose.
- C. payment of premium.
- D. ownership.
Answer: A
NEW QUESTION # 40
Insurance agents have duties and responsibilities to the insured and the insurer. Which of the following
responsibilities does an agent owe the insured during the policy year?
- A. Help the insured file and follow up on claims.
- B. Pay the insured's premiums if they are unable to do so.
- C. Work with rating bureaus to establish insurer ratings.
- D. Notify the insurance department when claims are paid.
Answer: A
NEW QUESTION # 41
Interest earned on a Traditional IRA is taxed
- A. only if there is a premature distribution.
- B. during the accumulation period.
- C. at distribution.
- D. prior to contribution.
Answer: C
NEW QUESTION # 42
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. Waiver of Premium.
- C. Automatic Premium Loan.
- D. Spendthrift Clause.
Answer: A
NEW QUESTION # 43
Which of the following is a characteristic of a contract of adhesion?
- A. Each party is entitled to rely on others' representations.
- B. The insurer's obligations are dependent upon certain acts of the insured individual.
- C. The Insurer agrees to pay a stated sum regardless of loss.
- D. The terms must be accepted or rejected in full.
Answer: D
NEW QUESTION # 44
All of the following statements regarding a group annuity are correct, EXCEPT
- A. purchased as part of a structured corporate pension plan.
- B. participation is limited to eligible employees.
- C. considered a defined-benefit plan.
- D. each employee signs and receives an individual contract.
Answer: B
NEW QUESTION # 45
An insured has a 5-year Renewable Term Life Insurance Policy. Upon exercising the renewable privilege, the
Insured MUST
- A. convert to a whole life policy.
- B. renew for at least 10 years.
- C. pay an annual premium that may be higher.
- D. provide evidence of insurability.
Answer: C
NEW QUESTION # 46
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