Ohio Life insurance Exam / Questions with Correct Answers, A+ Score
Solutions 2025.
Terms in this set (100)
A life insurance company has
transferred some of its risk
to another insure. The
insurer assuming the risk is
called
all of the following are Deffered Compensation
examples of business
continuation plan except
All of these are valid A non forfeiture option can be used to increase the death benefit
options for an Adjustable
Life Policy EXCEPT
The policy's premium can be
increased or decreased
The policy's death benefit can be
increased or decreased
A nonforfeiture option can be
used to increase the death
benefit
The policy's protection period
can be modified
the superintendent determines an must not impede the examination
examination of an insurers
books and record is necessary.
After receiving the notification,
the insurer
the double indemnity prevision accident
in a life insurance policy pertains
to an insureds death caused by
a(n)
Which of these is not number of children
considered to be a risk factor
in life insurance underwriting
,the suicide clause of a life minus indebtedness and without interest
insurance policy states that if an
insured commits suicide within
the stated period from the
policy inception the insurer will
only be liable fora return of
premiums paid
A minor may receive a life if the minor has an appointed guardian
inurance polciys death benefit
only
a life insruacne policy that has limited payment insurance
premiums fully paid up within a
stated time period is called
When a qualified plan starts Gains
making payments to its
recipient, which portion of the
distributions is taxable?
Principal
Contributions made by
employee Contributions
made by employer Gains
Which of the following does a life the policys cash value
insurance policy summary
normally include
a whole life policy option where nonforfeiture option
extended term insurance is
selected is called
which of the following is a proof of insurability
reinstatement condition
a securities license is required variable life insurance
for the life insurance
producer to sell
, all of these characteristics of a fixed surrender value
universal life insurance policy
except
flexible death
benefit fixed
surrender value
flexible
premiums
builds cash value
a provision that allows a collateral assignment
policyowner to temporarily
give up ownership rights to
secure a loan is called a(n)
An insurance company needs to Fair credit Reporting Act
obtain personal information from
a third party
concerning an applicant. Which
law do all insurers and their
producers need to
comply with
If an insured dies during the the policy would be payable, minus the premium amount
grace period with no premiums
paid
the policy would be payable,
minus the premium amount
the policy would be payable
only after the beneficiary
makes past due premium
payment
all past premiums will be
refunded with interest
the claim would be denied
Solutions 2025.
Terms in this set (100)
A life insurance company has
transferred some of its risk
to another insure. The
insurer assuming the risk is
called
all of the following are Deffered Compensation
examples of business
continuation plan except
All of these are valid A non forfeiture option can be used to increase the death benefit
options for an Adjustable
Life Policy EXCEPT
The policy's premium can be
increased or decreased
The policy's death benefit can be
increased or decreased
A nonforfeiture option can be
used to increase the death
benefit
The policy's protection period
can be modified
the superintendent determines an must not impede the examination
examination of an insurers
books and record is necessary.
After receiving the notification,
the insurer
the double indemnity prevision accident
in a life insurance policy pertains
to an insureds death caused by
a(n)
Which of these is not number of children
considered to be a risk factor
in life insurance underwriting
,the suicide clause of a life minus indebtedness and without interest
insurance policy states that if an
insured commits suicide within
the stated period from the
policy inception the insurer will
only be liable fora return of
premiums paid
A minor may receive a life if the minor has an appointed guardian
inurance polciys death benefit
only
a life insruacne policy that has limited payment insurance
premiums fully paid up within a
stated time period is called
When a qualified plan starts Gains
making payments to its
recipient, which portion of the
distributions is taxable?
Principal
Contributions made by
employee Contributions
made by employer Gains
Which of the following does a life the policys cash value
insurance policy summary
normally include
a whole life policy option where nonforfeiture option
extended term insurance is
selected is called
which of the following is a proof of insurability
reinstatement condition
a securities license is required variable life insurance
for the life insurance
producer to sell
, all of these characteristics of a fixed surrender value
universal life insurance policy
except
flexible death
benefit fixed
surrender value
flexible
premiums
builds cash value
a provision that allows a collateral assignment
policyowner to temporarily
give up ownership rights to
secure a loan is called a(n)
An insurance company needs to Fair credit Reporting Act
obtain personal information from
a third party
concerning an applicant. Which
law do all insurers and their
producers need to
comply with
If an insured dies during the the policy would be payable, minus the premium amount
grace period with no premiums
paid
the policy would be payable,
minus the premium amount
the policy would be payable
only after the beneficiary
makes past due premium
payment
all past premiums will be
refunded with interest
the claim would be denied
