2024 New OH-Life-Agent-Series-11-44 Dumps - Real Ohio Department of Insurance Exam Questions
Dependable OH-Life-Agent-Series-11-44 Exam Dumps to Become Ohio Department of Insurance Certified
NEW QUESTION # 12
While texting and driving, an Insured loses control of the vehicle and hits a tree. The resulting collision Is
- A. a peril.
- B. a hazard.
- C. an exposure.
- D. a risk.
Answer: A
NEW QUESTION # 13
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 provides for only one premium to be paid without evidence of insurability.
- C. It requires the policyowner to pay one premium annually.
- D. It requires only one payment to make the policy paid up.
Answer: D
NEW QUESTION # 14
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 application.
- B. any type of distant family relationship exists with the insured party.
- C. any type of business relationship exists between the insured party and the beneficiary.
- D. the interest exists at the time of death.
Answer: A
NEW QUESTION # 15
What law do all Insurers and their agents need to comply with In regards to Information being obtained from a
third party concerning the applicant?
- A. Dodd Frank Act
- B. McCarran-Ferguson Act
- C. Fair Credit Reporting Act
- D. Unauthorized Insurers Service of Process Act
Answer: C
NEW QUESTION # 16
It is unlawful for a person to provide an advertisement which
- A. refers to the insurer's financial rating.
- B. uses a policy title to inaccurately describe a coverage.
- C. points out coverage advantages of a policy.
- D. uses a testimonial.
Answer: B
NEW QUESTION # 17
The accumulated cash value of a whole life insurance policy becomes the
- A. face amount payable upon the insured's death.
- B. funds used to offset policy administration and conversion expenses.
- C. amount used to purchase paid up additions to the insured's policy.
- D. policy loan value upon which the insured may borrow.
Answer: D
NEW QUESTION # 18
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. 30 calendar days
- B. 90 calendar days
- C. 60 calendar days
- D. 45 calendar days
Answer: D
NEW QUESTION # 19
Which of the following describes the process of selection, classification, and rating of risks?
- A. underwriting
- B. cost containment
- C. adverse selection
- D. claims experience
Answer: A
NEW QUESTION # 20
Statements by an applicant concerning personal health history, family health history, occupation, and hobbies
are referred to as
- A. representations.
- B. depictions.
- C. certifications.
- D. personal characteristics.
Answer: A
NEW QUESTION # 21
Generally, rates charged for Insurance may NOT be
- A. cost prohibitive.
- B. different for persons withdiffering risk profiles.
- C. discriminatory.
- D. excessive, inadequate, or unfairly discriminatory.
Answer: D
NEW QUESTION # 22
An agent's actions or deeds demonstrate what kind of authority?
- A. inherent
- B. apparent
- C. express
- D. delegated
Answer: B
NEW QUESTION # 23
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. Pay the insured's premiums if they are unable to do so.
- B. Work with rating bureaus to establish insurer ratings.
- C. Notify the insurance department when claims are paid.
- D. Help the insured file and follow up on claims.
Answer: D
NEW QUESTION # 24
Which of the following is a characteristic of a non-admitted Insurer?
- A. A non-admitted insurer is required to submit rates for approval.
- B. A non-admitted insurer is required to submit forms to the Department of Insurance.
- C. A non-admitted insurer is also known as a domestic insurer.
- D. A non-admitted insurer is not afforded protection by the guaranty fund.
Answer: D
NEW QUESTION # 25
Which of the following is a life insurance contract written on the life of an individual?
- A. Joint Life Contract.
- B. Survivorship Policy.
- C. Insurance.
- D. Single-Life Insurance.
Answer: B
NEW QUESTION # 26
A single premium Immediate annuity Is MOST often used for
- A. vacation expenses.
- B. children's college expenses.
- C. retirement income.
- D. mortgage payments.
Answer: C
NEW QUESTION # 27
Who can surrender an annuity during the accumulation period?
- A. The policyowner.
- B. The annuitant.
- C. The company.
- D. The beneficiary.
Answer: A
NEW QUESTION # 28
What annuity payout option has no additional payouts regardless of when the annuitant dies?
- A. Life only.
- B. Cash refund.
- C. Installment refund.
- D. Life certain.
Answer: A
NEW QUESTION # 29
Without written consent, a policyowner CANNOT change the beneficiary If he has named
- A. an irrevocable beneficiary.
- B. a contingent beneficiary.
- C. a permanent beneficiary.
- D. a revocable beneficiary.
Answer: A
NEW QUESTION # 30
The settlement option that allows proceeds to remain with the Insurer and the earnings to be paid to the
beneficiary on a monthly basis is called
- A. fixed period.
- B. fixed amount.
- C. lump sum.
- D. interest only.
Answer: D
NEW QUESTION # 31
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. Cash Dividend Option.
- C. Accumulation at Interest Option.
- D. Paid-up Additions Option.
Answer: C
NEW QUESTION # 32
Deliberate withholding of material facts that would affect the validity of an Insurance policy or a claim under
the policy Is known as
- A. aleatory contract.
- B. concealment.
- C. misrepresentation.
- D. slanting.
Answer: B
NEW QUESTION # 33
The structure of a credit life insurance policy does NOT allow for
- A. coverage amount to match the loan amount.
- B. Individual policies.
- C. group policies.
- D. conversion privileges.
Answer: D
NEW QUESTION # 34
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. key person.
- B. employee welfare.
- C. business overhead.
- D. business continuation life.
Answer: A
NEW QUESTION # 35
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