Pass the Ohio Department of Insurance OHIO Life Insurance OH-Life-Agent-Series-11-44 Questions and answers with CertsForce

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Questions # 1:

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

Options:

A.

coercion.


B.

defamation.


C.

intimidation.


D.

misrepresentation.


Expert Solution
Questions # 2:

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

Options:

A.

Increasing term insurance.


B.

Decreasing term insurance.


C.

Level term insurance.


D.

Variable life insurance.


Expert Solution
Questions # 3:

What law do all Insurers and their agents need to comply with In regards to Information being obtained from a third party concerning the applicant?

Options:

A.

Dodd Frank Act


B.

McCarran-Ferguson Act


C.

Fair Credit Reporting Act


D.

Unauthorized Insurers Service of Process Act


Expert Solution
Questions # 4:

An insured wants to purchase a policy with three key elements: flexible premium, death benefit, and the choice of mutual funds where the cash value will be Invested In a separate account. The Insured should purchase

Options:

A.

universal life.


B.

adjustable life.


C.

variable universal life.


D.

graded premium whole life.


Expert Solution
Questions # 5:

The purpose of insurance Is to

Options:

A.

avoid risk.


B.

reduce risk.


C.

transfer risk.


D.

increase risk.


Expert Solution
Questions # 6:

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

Options:

A.

fixed value rates


B.

variable sub accounts


C.

market value adjustments


D.

interest sensitive trigger


Expert Solution
Questions # 7:

Which of the following describes the process of selection, classification, and rating of risks?

Options:

A.

underwriting


B.

cost containment


C.

adverse selection


D.

claims experience


Expert Solution
Questions # 8:

The settlement option that allows proceeds to remain with the Insurer and the earnings to be paid to the beneficiary on a monthly basis is called

Options:

A.

interest only.


B.

lump sum.


C.

fixed period.


D.

fixed amount.


Expert Solution
Questions # 9:

Which nonforfeiture option allows the policyowner to purchase less coverage for life?

Options:

A.

Reduced Paid-Up Insurance.


B.

Cash Surrender Value.


C.

Settlement Value.


D.

Extended Term.


Expert Solution
Questions # 10:

Which of the following is a life insurance contract written on the life of an individual?

Options:

A.

Insurance.


B.

Survivorship Policy.


C.

Joint Life Contract.


D.

Single-Life Insurance.


Expert Solution
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