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

Questions # 1:

In Ohio, an agent must be appointed by the Insurer within how many days from the date the agency contract Is executed, or the first Insurance application Is submitted?

Options:

Questions # 2:

All the following policies qualify for a 1035 Exchange EXCEPT

Options:

a whole life policy to another whole life policy.

a whole life policy to an annuity.

an annuity to another annuity.

an annuity to a whole life policy.

Questions # 3:

Which of the following retirementplans will allow for a nonworking spouse to set up a separate account and make contributions based on the working spouse's Income?

Options:

SIMPLE IRA

SEP IRA

401(k)

IRA

Questions # 4:

It is unlawful for a person to provide an advertisement which

Options:

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.

Questions # 5:

Under an executive bonus plan, premiums paid by the employer are

Options:

reported as taxable income to the employee.

tax deductible to both the employee and employer.

reported as taxable Income to the employer.

only tax deductible when the bonus is an insurance plan.

Questions # 6:

The PRIMARY reason for purchasing life Insurance Is to provide

Options:

death benefits.

college tuition.

retirement Income.

safety of principal.

Questions # 7:

An Insurer would consider which of the following In determining whether to accept a group life plan?

Options:

Grace period

Beneficiary

Average age

Dependents

Questions # 8:

Which of the following dividend options is taxable?

Options:

1-year term.

Paid up additions.

Return of premium.

Accumulation at interest.

Questions # 9:

Falsifying the terms, benefits, advantages, or conditions of an insurance policy Is an example of which of the following?

Options:

Forgery

Coercion

Concealment

Misrepresentation

Questions # 10:

As a form of level premium permanent Insurance, ordinary life Insurance accumulates a reserve that eventually

Options:

equals the face amount of the policy.

results In a dividend payment to the policyowner.

ceases to earn interest or grow in a positive earnings direction.

requires mandatory cash value distributions.

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