[Jan-2025] Ohio Department of Insurance OH-Life-Agent-Series-11-44 DUMPS WITH REAL EXAM QUESTIONS
2025 New FreePdfDump OH-Life-Agent-Series-11-44 PDF Recently Updated Questions
NEW QUESTION # 50
Under Ohio insurance laws, what must a licensee do prior to operating under an assumed business name?
- A. notify all prospective insureds
- B. obtain approval from the insurer
- C. notify the superintendent
- D. notify the National Association of Insurance Commissioners
Answer: C
NEW QUESTION # 51
An annuitant dies during the accumulation period. What happens to the cash value in the annuity?
- A. The cash value is paid to the IRS.
- B. The cash value is paid into the estate.
- C. The company keeps the cash value.
- D. The cash value is paid to the beneficiary.
Answer: B
NEW QUESTION # 52
Which nonforfeiture option allows the policyowner to purchase less coverage for life?
- A. Settlement Value.
- B. Extended Term.
- C. Reduced Paid-Up Insurance.
- D. Cash Surrender Value.
Answer: C
NEW QUESTION # 53
Upon annuitization, which of the following will have the HIGHEST monthly payout?
- A. Straight life.
- B. Joint and survivor life.
- C. Straight life with guaranteed payments.
- D. Joint life.
Answer: A
NEW QUESTION # 54
The proposed insured's statements on a life insurance application are considered to be
- A. misrepresentations.
- B. absolute statements.
- C. representations.
- D. warranties.
Answer: C
NEW QUESTION # 55
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
- A. will not provide further insurance protection.
- B. must be shared equally by Rob and Joe's wife.
- C. must be awarded to Joe's estate.
- D. will accumulate with interest until another brother dies and then be awarded to the surviving brother.
Answer: A
NEW QUESTION # 56
Which of the following policies allows the policyowner to change two policy features?
- A. Modified Life.
- B. Adjustable Life.
- C. Credit Life.
- D. Term Life.
Answer: B
NEW QUESTION # 57
A policyowner may not pay premiums with which frequency?
- A. Monthly
- B. Bi-weekly
- C. Quarterly
- D. Semi-annually
Answer: B
NEW QUESTION # 58
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. 60 calendar days
- B. 90 calendar days
- C. 30 calendar days
- D. 45 calendar days
Answer: D
NEW QUESTION # 59
What type of insurance is the cheapest option to pay off a 30-year mortgage balance?
- A. Decreasing term insurance.
- B. Variable life insurance.
- C. Increasing term insurance.
- D. Level term insurance.
Answer: A
NEW QUESTION # 60
To avoid tax consequences, a rollover from a Traditional IRA to another IRA MUST be done within
- A. 30 days.
- B. 60 days.
- C. 45 days.
- D. 90 days.
Answer: B
NEW QUESTION # 61
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. Automatic Premium Loan.
- C. Spendthrift Clause.
- D. Waiver of Premium.
Answer: A
NEW QUESTION # 62
Interest earned on a Traditional IRA is taxed
- A. at distribution.
- B. during the accumulation period.
- C. only if there is a premature distribution.
- D. prior to contribution.
Answer: A
NEW QUESTION # 63
Without written consent, a policyowner CANNOT change the beneficiary If he has named
- A. a contingent beneficiary.
- B. a permanent beneficiary.
- C. a revocable beneficiary.
- D. an irrevocable beneficiary.
Answer: D
NEW QUESTION # 64
If an Insured under a life insurance policy dies with an outstanding loan balance then the death benefit
will
- A. be reduced by the amount of the loan and interest owed.
- B. be paid less the amount of the loan interest but not the principal.
- C. not be paid until the loan is repaid.
- D. be paid less the amount of the loan but not the interest.
Answer: D
NEW QUESTION # 65
At what age can an Individual begin to receive distributions from an IRA without a tax penalty?
- A. 59 1/2 years.
- B. 65 1/2 years.
- C. 55 1/2 years.
- D. 63 1/2 years.
Answer: A
NEW QUESTION # 66
The grace period is a period of time
- A. after the premium is paid and before the policy is issued.
- B. after the premium is due but while the policy remains in force.
- C. between the death of the insured individual and the payment of the benefits.
- D. after the premium is received and before the policy is issued.
Answer: B
NEW QUESTION # 67
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. misrepresentation.
- C. concealment.
- D. slanting.
Answer: C
NEW QUESTION # 68
Which of the following represents a syndicate of underwriters that specialize in Insuring specific types of risk?
- A. risk retention group
- B. Lloyd's association
- C. fraternal benefit society
- D. reciprocal insurer
Answer: A
NEW QUESTION # 69
Making a statement that is false and maliciously critical of the financial condition of an insurer is known as
- A. coercion.
- B. misrepresentation.
- C. defamation.
- D. intimidation.
Answer: B
NEW QUESTION # 70
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