[UPDATED 2024] OH-Life-Agent-Series-11-44 dumps Free Test Engine Verified By Certified Experts [Q30-Q51] : Exams Labs Braindumps : http://blog.examslabs.com

Q30. Reinsurers are a specialized branch of the insurance industry because they

provide insurance to otherwise uninsurable individuals.

provide alternative means.

Insure insurers.

keep premiums low.

Q31. An agent’s underwriting duties Include which of the following?

Setting premium amounts.

Completing all applications and collecting initial premiums.

Declining or accepting an application.

Issuing the policy.

Q32. The structure of a credit life insurance policy does NOT allow for

group policies.

coverage amount to match the loan amount.

conversion privileges.

Individual policies.

Q33. Which of the following policies allows the policyowner to change two policy features?

Credit Life.

Modified Life.

Adjustable Life.

Term Life.

Q34. The most common use of a group life insurance policy is to insure

retirees.

company employees.

members of a family.

association members.

Q35. In reference to life Insurance in contract law, a person MOST likely will have an insurable interest in insuring
a person’s life If

the interest exists at the time of death.

the interest exists at the time of application.

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

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

Q36. All of the following statements regarding a group annuity are correct, EXCEPT

purchased as part of a structured corporate pension plan.

each employee signs and receives an individual contract.

participation is limited to eligible employees.

considered a defined-benefit plan.

Q37. 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

universal life.

adjustable life.

variable universal life.

graded premium whole life.

Q38. 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?

Dodd Frank Act

McCarran-Ferguson Act

Fair Credit Reporting Act

Unauthorized Insurers Service of Process Act

Q39. Rob, Joe, and Mike are brothers who have a $60,000 “first-to-die” Joint life policy covering all three of their
lives. If Joe dies first, the policy proceeds

will not provide further insurance protection.

must be shared equally by Rob and Joe’s wife.

will accumulate with interest until another brother dies and then be awarded to the surviving brother.

must be awarded to Joe’s estate.

Q40. The PRIMARY reason for purchasing life Insurance Is to provide

death benefits.

college tuition.

retirement Income.

safety of principal.

Q41. 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?

impose an administrative penalty

suspend the licensee s premium accounts

immediately terminate insurer appointments

sentence the licensee up to 30 days in jail

Q42. Which of the following is TRUE of a payor benefit rider?

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

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

Waives policy premiums if the insured becomes totally disabled.

Increases the value of the policy if the policyowner dies.

Q43. All the following riders can Increase the death benefit amount EXCEPT

Cost of Living.

Waiver of Premium.

Accidental Death Rider.

Guaranteed Insurability.

Q44. 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?

Partial Surrender.

Automatic Premium Loan.

Waiver of Premium.

Spendthrift Clause.

Q45. Survivorship life insurance policies are useful in estate planning because they

accumulate a sum of money for retirement.

can provide money to pay taxes on assets.

redistribute the premium obligation during the early years of the policy.

provide funeral insurance and pre-need burial insurance.

Q46. Bettie has a $200,000 whole life policy with a $50,000 cash value. She wishes to borrow $30,000 for the
purchase of a new van. Which of the following Is TRUE In this situation?

There is no requirement that she pay back the loan.

Loans can only be taken for hardship situations.

Whole life policies do not have any loan provisions.

This type of loan is interest free.

Q47. An agent’s actions or deeds demonstrate what kind of authority?

apparent

delegated

express

inherent

Q48. While texting and driving, an Insured loses control of the vehicle and hits a tree. The resulting collision Is

an exposure.

a hazard.

a peril.

a risk.

Q49. Upon annuitization, which of the following will have the HIGHEST monthly payout?

Straight life with guaranteed payments.

Joint life.

Straight life.

Joint and survivor life.

Q50. Competency of an Individual to enter into an Insurance contract is determined based on

legal age.

legal purpose.

ownership.

payment of premium.

Q51. Each of the following are characteristics of a fixed annuity contract EXCEPT

funds are Invested in a separate account.

the minimum interest rate is guaranteed in the contract.

benefit payments remain level.

it may be sold as an immediate or deferred annuity.