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

Under the children's term rider, what occurs when a child reaches the specified age? He or she

A. automatically becomes the beneficiary of the life insurance policy.

B. must show evidence of insurability to remain covered.

C. may Increase the term coverage of the rider.

D. is eliminated from coverage.

Falsifying the terms, benefits, advantages, or conditions of an insurance policy Is an example of which of the following?

A. Forgery

B. Coercion

C. Concealment

D. Misrepresentation

Under Ohio insurance laws, what must a licensee do prior to operating under an assumed business name?

A. notify the superintendent

B. notify all prospective insureds

C. obtain approval from the insurer

D. notify the National Association of Insurance Commissioners

An immediate annuity begins making payments after the

A. policyholder suffers a disability.

B. first premium has been paid.

C. policy has been in force for one year.

D. policy reaches its maturation date.

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

A. Setting premium amounts.

B. Completing all applications and collecting initial premiums.

C. Declining or accepting an application.

D. Issuing the policy.

In which of the following fixed annuity features Is the surrender value tied to Interest rates?

A. fixed value rates

B. variable sub accounts

C. market value adjustments

D. interest sensitive trigger

A single premium Immediate annuity Is MOST often used for

A. retirement income.

B. children's college expenses.

C. mortgage payments.

D. vacation expenses.

What annuity payout option has no additional payouts regardless of when the annuitant dies?

A. Life only.

B. Cash refund.

C. Life certain.

D. Installment refund.

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. the interest exists at the time of death.

B. the interest exists at the time of application.

C. any type of distant family relationship exists with the insured party.

D. any type of business relationship exists between the insured party and the beneficiary.

Without written consent, a policyowner CANNOT change the beneficiary If he has named

A. a contingent beneficiary.

B. a revocable beneficiary.

C. a permanent beneficiary.

D. an irrevocable beneficiary.