[Sep 29, 2024] Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Dumps Are Essential To Get Good Marks [Q26-Q46] : Free Exam Dumps Collection : http://free.examcollectionpass.com

NEW QUESTION 26
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.

NEW QUESTION 27
Loans may generally be obtained against the cash value of a personal life Insurance policy and policy loan
proceeds

accelerate the benefits under the policy.

are not treated as taxable income.

are subject to Federal estate tax.

generate nontaxable interest income.

NEW QUESTION 28
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.

NEW QUESTION 29
It is unlawful for a person to provide an advertisement which

uses a testimonial.

refers to the insurer’s financial rating.

points out coverage advantages of a policy.

uses a policy title to inaccurately describe a coverage.

NEW QUESTION 30
Contributions made to a Roth IRA are

partially tax deductible.

not tax deductible.

only tax deductible at age 50 or older.

tax deductible at retirement.

NEW QUESTION 31
Which of the following represents a syndicate of underwriters that specialize in Insuring specific types of risk?

reciprocal insurer

Lloyd’s association

risk retention group

fraternal benefit society

NEW QUESTION 32
Extended term Insurance can be selected under which whole life policy provision?

interest-only

nonforfeiture

cash value

settlement

NEW QUESTION 33
An agent qualified to sell variable products in Ohio must report each of the following to the superintendent of
Insurance EXCEPT

a suspension from the National Association of Securities Dealers.

the revocation of an insurance license held in another state.

the sharing of commissions with another qualified agent.

a felony criminal conviction.

NEW QUESTION 34
What type of insurance is the cheapest option to pay off a 30-year mortgage balance?

Increasing term insurance.

Decreasing term insurance.

Level term insurance.

Variable life insurance.

NEW QUESTION 35
What is the approach to assessing the consumer’s need for life insurance that focuses on an individual’s future
stream of income?

Needs approach

Affordability approach

Human Life Value approach

Return of Investment approach

NEW QUESTION 36
The Group Life Underwriting risk selection process helps protect Insurers from

risk selection.

medical underwriting.

adverse selection.

risk underwriting.

NEW QUESTION 37
Which of the following dividend options is taxable?

1-year term.

Paid up additions.

Return of premium.

Accumulation at interest.

NEW QUESTION 38
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.

NEW QUESTION 39
What does a limited payment whole life policy provide?

Protection to age 65.

Life time protection.

A lower premium.

Pure protection.

NEW QUESTION 40
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.

NEW QUESTION 41
All of the following statements apply to the surrender of an annuity contract EXCEPT

surrender charges will reduce the contract payout amount.

the right to surrender Is available on immediate and deferred annuities.

the owner has the right to surrender the contract during the accumulation period.

surrender charges diminish over a stated number of years and will eventually disappear.

NEW QUESTION 42
Without written consent, a policyowner CANNOT change the beneficiary If he has named

a contingent beneficiary.

a revocable beneficiary.

a permanent beneficiary.

an irrevocable beneficiary.

NEW QUESTION 43
At what age can an Individual begin to receive distributions from an IRA without a tax penalty?

55 1/2 years.

59 1/2 years.

63 1/2 years.

65 1/2 years.

NEW QUESTION 44
Making a statement that is false and maliciously critical of the financial condition of an insurer is known as

coercion.

defamation.

intimidation.

misrepresentation.

NEW QUESTION 45
Under Ohio insurance laws, what must a licensee do prior to operating under an assumed business name?

notify the superintendent

notify all prospective insureds

obtain approval from the insurer

notify the National Association of Insurance Commissioners

NEW QUESTION 46
Which of the following policies allows the policyowner to change two policy features?

Credit Life.

Modified Life.

Adjustable Life.

Term Life.