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

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Viewing questions 21-30 out of questions
Questions # 21:

The PRIMARY reason for purchasing life Insurance Is to provide

Options:

A.

death benefits.


B.

college tuition.


C.

retirement Income.


D.

safety of principal.


Expert Solution
Questions # 22:

An accelerated death benefit

Options:

A.

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


B.

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


C.

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


D.

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


Expert Solution
Questions # 23:

An agent's actions or deeds demonstrate what kind of authority?

Options:

A.

apparent


B.

delegated


C.

express


D.

inherent


Expert Solution
Questions # 24:

What annuity payout option has no additional payouts regardless of when the annuitant dies?

Options:

A.

Life only.


B.

Cash refund.


C.

Life certain.


D.

Installment refund.


Expert Solution
Questions # 25:

A single premium Immediate annuity Is MOST often used for

Options:

A.

retirement income.


B.

children's college expenses.


C.

mortgage payments.


D.

vacation expenses.


Expert Solution
Questions # 26:

The proposed insured's statements on a life insurance application are considered to be

Options:

A.

absolute statements.


B.

misrepresentations.


C.

representations.


D.

warranties.


Expert Solution
Questions # 27:

To avoid tax consequences, a rollover from a Traditional IRA to another IRA MUST be done within

Options:

A.

30 days.


B.

45 days.


C.

60 days.


D.

90 days.


Expert Solution
Questions # 28:

Contributions made to a Roth IRA are

Options:

A.

partially tax deductible.


B.

not tax deductible.


C.

only tax deductible at age 50 or older.


D.

tax deductible at retirement.


Expert Solution
Questions # 29:

Upon the divorce of an insured who designated their spouse as the beneficiary, which of the following actions will result?

Options:

A.

the insured must pay 50% of the premiums paid to the spouse named as the beneficiary


B.

the spouse designated as beneficiary will remain an irrevocable beneficiary


C.

the designation of the spouse as a beneficiary is revoked


D.

the policy will automatically be terminated


Expert Solution
Questions # 30:

While texting and driving, an Insured loses control of the vehicle and hits a tree. The resulting collision Is

Options:

A.

an exposure.


B.

a hazard.


C.

a peril.


D.

a risk.


Expert Solution
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