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Updated Dec-2024 Exam OH-Life-Agent-Series-11-44 Dumps - Pass Your Certification Exam
NEW QUESTION # 43
Which of the following statements is TRUE regarding a waiver of premium rider?
- A. The death benefit will be reduced by the amount of the unpaid premiums.
- B. The policy's cash value will continue to grow, but at a slower rate because the insured is no longer
paying premiums. - C. The insured will automatically become eligible for accelerated death benefits.
- D. There will be no change in the policy other than the insured no longer has to pay the premiums on the
policy.
Answer: D
NEW QUESTION # 44
Interest earned on a Traditional IRA is taxed
- A. only if there is a premature distribution.
- B. prior to contribution.
- C. during the accumulation period.
- D. at distribution.
Answer: D
NEW QUESTION # 45
Which of the following describes the process of selection, classification, and rating of risks?
- A. claims experience
- B. underwriting
- C. adverse selection
- D. cost containment
Answer: B
NEW QUESTION # 46
An agent's underwriting duties Include which of the following?
- A. Issuing the policy.
- B. Completing all applications and collecting initial premiums.
- C. Setting premium amounts.
- D. Declining or accepting an application.
Answer: B
NEW QUESTION # 47
Loans may generally be obtained against the cash value of a personal life Insurance policy and policy loan
proceeds
- A. generate nontaxable interest income.
- B. are subject to Federal estate tax.
- C. accelerate the benefits under the policy.
- D. are not treated as taxable income.
Answer: D
NEW QUESTION # 48
Which activity does NOT require an Insurance agent's license?
- A. selling
- B. underwriting
- C. soliciting
- D. negotiating
Answer: B
NEW QUESTION # 49
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 # 50
Which of the following represents a syndicate of underwriters that specialize in Insuring specific types of risk?
- A. reciprocal insurer
- B. fraternal benefit society
- C. risk retention group
- D. Lloyd's association
Answer: C
NEW QUESTION # 51
If an Insured under a life insurance policy dies with an outstanding loan balance then the death benefit
will
- A. be paid less the amount of the loan interest but not the principal.
- B. be paid less the amount of the loan but not the interest.
- C. be reduced by the amount of the loan and interest owed.
- D. not be paid until the loan is repaid.
Answer: B
NEW QUESTION # 52
All of the following statements regarding a group annuity are correct, EXCEPT
- A. considered a defined-benefit plan.
- B. participation is limited to eligible employees.
- C. purchased as part of a structured corporate pension plan.
- D. each employee signs and receives an individual contract.
Answer: B
NEW QUESTION # 53
Competency of an Individual to enter into an Insurance contract is determined based on
- A. legal age.
- B. payment of premium.
- C. ownership.
- D. legal purpose.
Answer: A
NEW QUESTION # 54
Generally, If a life application Is NOT prepaid, the effective date of coverage begins on the date the
- A. application is postmarked and mailed to the insurer.
- B. application is signed.
- C. company underwriter approves the risk.
- D. policy is delivered and accepted.
Answer: D
NEW QUESTION # 55
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. capital gains tax.
- C. no tax.
- D. income tax.
Answer: D
NEW QUESTION # 56
An Insurer would consider which of the following In determining whether to accept a group life plan?
- A. Average age
- B. Beneficiary
- C. Dependents
- D. Grace period
Answer: A
NEW QUESTION # 57
When a policy owner requests a partial surrender from her Universal Life Policy she Is requesting which of the
following?
- A. Cash withdrawal.
- B. Decrease In the coverage amount.
- C. Surrender of the policy.
- D. A loan from the policy.
Answer: A
NEW QUESTION # 58
An Individual buys an annuity that will pay her spouse an income for 20 years. If the spouse dies within that
time, the Income will be paid to their children for the remainder of the period. What kind of annuity did the
Insured buy?
- A. Joint life and survivorship annuity
- B. Joint life annuity
- C. Life annuity with period certain
- D. Temporary annuity certain
Answer: D
NEW QUESTION # 59
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