OHIO Life Insurance Agent Series 11-44 (OH-Life-Agent-Series-11-44) Practice Test

Questions # 21:

An accelerated death benefit

Options:

pays an additional benefit if the policyholder dies as a result of an accident.

allows the policyowner to sell their policy to a third party.

pays a portion of the face amount when a policyowner Is determined to be terminally ill.

pays only in the event of an accident resulting in death.

Questions # 22:

Something that increases the probability of loss is called

Options:

a risk.

a peril.

a hazard.

an exposure.

Questions # 23:

The premium mode defines the

Options:

premium limit.

premium amount.

frequency of the premium payment.

method of premium payment.

Questions # 24:

A policyowner may choose to have his/her life insurance policy dividends do all of the following EXCEPT

Options:

reduce the policy premium.

accumulate without interest.

be paid to the policyowner in cash.

purchase additional insurance protection.

Questions # 25:

In which of the following fixed annuity features Is the surrender value tied to Interest rates?

Options:

fixed value rates

variable sub accounts

market value adjustments

interest sensitive trigger

Questions # 26:

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

Options:

business continuation life.

business overhead.

key person.

employee welfare.

Questions # 27:

An exposure Is a condition or situation that presents the possibility of

Options:

hazard.

peril.

indemnity.

loss.

Questions # 28:

The period after an annuity Is purchased but before distributions begin Is referred to as the

Options:

annuity phase.

build-up phase.

endowment phase.

accumulation phase.

Questions # 29:

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

Options:

beneficiary's estate.

insured's estate.

Insured's next of kin.

policyowner.

Questions # 30:

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

Options:

notify the superintendent

notify all prospective insureds

obtain approval from the insurer

notify the National Association of Insurance Commissioners

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