[Apr-2024] Updated OHIO Life Insurance OH-Life-Agent-Series-11-44 Exam Questions BUNDLE PACK
Master The Ohio Department of Insurance Content OH-Life-Agent-Series-11-44 EXAM DUMPS WITH GUARANTEED SUCCESS!
NEW QUESTION # 62
Insurers do business in Ohio only after a thorough financial review. Most insurance policies written in Ohio
are protected by the Guaranty Association established to protect policy owners In the event an admitted
company
- A. depletes its loss reserves.
- B. becomes financially insolvent.
- C. merges with a foreign insurer.
- D. cannot meet it's capital surplus requirements.
Answer: B
NEW QUESTION # 63
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?
- A. immediately terminate insurer appointments
- B. suspend the licensee s premium accounts
- C. sentence the licensee up to 30 days in jail
- D. impose an administrative penalty
Answer: D
NEW QUESTION # 64
Extended term Insurance can be selected under which whole life policy provision?
- A. cash value
- B. interest-only
- C. settlement
- D. nonforfeiture
Answer: D
NEW QUESTION # 65
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. Paid-up Additions Option.
- B. Cash Dividend Option.
- C. Accumulation at Interest Option.
- D. Reduced Premium Dividend Option.
Answer: C
NEW QUESTION # 66
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 # 67
The proposed insured's statements on a life insurance application are considered to be
- A. absolute statements.
- B. representations.
- C. warranties.
- D. misrepresentations.
Answer: B
NEW QUESTION # 68
Which nonforfeiture option allows the policyowner to purchase less coverage for life?
- A. Cash Surrender Value.
- B. Reduced Paid-Up Insurance.
- C. Settlement Value.
- D. Extended Term.
Answer: B
NEW QUESTION # 69
Under Ohio insurance laws, what must a licensee do prior to operating under an assumed business name?
- A. obtain approval from the insurer
- B. notify the National Association of Insurance Commissioners
- C. notify the superintendent
- D. notify all prospective insureds
Answer: C
NEW QUESTION # 70
Making a statement that is false and maliciously critical of the financial condition of an insurer is known as
- A. intimidation.
- B. defamation.
- C. misrepresentation.
- D. coercion.
Answer: C
NEW QUESTION # 71
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. lump sum.
- B. fixed period.
- C. fixed amount.
- D. interest only.
Answer: D
NEW QUESTION # 72
An agent's actions or deeds demonstrate what kind of authority?
- A. express
- B. delegated
- C. inherent
- D. apparent
Answer: D
NEW QUESTION # 73
When a beneficiary Inherits a traditional IRA, which of the following Is TRUE about taxation when the money
is withdrawn? The beneficiary pays
- A. an estate tax.
- B. no tax.
- C. capital gains tax.
- D. income tax.
Answer: D
NEW QUESTION # 74
It is unlawful for a person to provide an advertisement which
- A. refers to the insurer's financial rating.
- B. points out coverage advantages of a policy.
- C. uses a testimonial.
- D. uses a policy title to inaccurately describe a coverage.
Answer: D
NEW QUESTION # 75
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. employee welfare.
- B. business continuation life.
- C. business overhead.
- D. key person.
Answer: D
NEW QUESTION # 76
An insured has a 5-year Renewable Term Life Insurance Policy. Upon exercising the renewable privilege, the
Insured MUST
- A. pay an annual premium that may be higher.
- B. renew for at least 10 years.
- C. provide evidence of insurability.
- D. convert to a whole life policy.
Answer: A
NEW QUESTION # 77
To receive proceeds from a death benefit, a minor
- A. must be related to the insured.
- B. must be at least 16 years old.
- C. can only be named as a contingent beneficiary.
- D. must have an appointed guardian.
Answer: D
NEW QUESTION # 78
The only beneficiary named in a life insurance policy died before the Insured. The policyowner did not name a
new beneficiary. When a claim is filed, the death benefit would be paid to the
- A. insured's estate.
- B. beneficiary's estate.
- C. policyowner.
- D. Insured's next of kin.
Answer: A
NEW QUESTION # 79
The most common use of a group life insurance policy is to insure
- A. association members.
- B. company employees.
- C. members of a family.
- D. retirees.
Answer: B
NEW QUESTION # 80
While texting and driving, an Insured loses control of the vehicle and hits a tree. The resulting collision Is
- A. a hazard.
- B. an exposure.
- C. a risk.
- D. a peril.
Answer: D
NEW QUESTION # 81
An Insured owns a whole life policy that has accumulated cash value. Which of the following statements Is
true about the policy's cash value?
- A. The cash value is not guaranteed.
- B. It is subject to fluctuations of the company's overall performance.
- C. The policy's cash value is viewed as investment growth and therefore subject to taxation for each
calendar year. - D. The growth of the policy's cash value Is not subject to income tax while the policy Is in force.
Answer: D
NEW QUESTION # 82
Under what circumstances must an agent provide his or her business records to the superintendent of
Insurance?
- A. upon request of the superintendent
- B. under no circumstances due to privacy consideration
- C. by authorization from the National Association of Insurance Commissioners (NAIC)
- D. upon request of an insured
Answer: A
NEW QUESTION # 83
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. Notify the insurance department when claims are paid.
- B. Work with rating bureaus to establish insurer ratings.
- C. Help the insured file and follow up on claims.
- D. Pay the insured's premiums if they are unable to do so.
Answer: C
NEW QUESTION # 84
The grace period is a period of time
- A. after the premium is paid and before the policy is issued.
- B. between the death of the insured individual and the payment of the benefits.
- C. after the premium is due but while the policy remains in force.
- D. after the premium is received and before the policy is issued.
Answer: C
NEW QUESTION # 85
......
Pass Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam – Experts Are Here To Help You: https://www.updatedumps.com/Ohio-Department-of-Insurance/OH-Life-Agent-Series-11-44-updated-exam-dumps.html
Get Latest OHIO Life Insurance OH-Life-Agent-Series-11-44 Practice Test For Quick Preparation: https://drive.google.com/open?id=1PGqspuNrXNhjmV9JGhBFo7IiC5asDhQP