OH-Life-Agent-Series-11-44 Sample Questions Answers

Each party is entitled to rely on others' representations.

The Insurer agrees to pay a stated sum regardless of loss.

The terms must be accepted or rejected in full.

The insurer's obligations are dependent upon certain acts of the insured individual.

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.

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

the spouse designated as beneficiary will remain an irrevocable beneficiary

the designation of the spouse as a beneficiary is revoked

the policy will automatically be terminated

Needs approach

Affordability approach

Human Life Value approach

Return of Investment approach

apparent

delegated

express

inherent

cannot meet it's capital surplus requirements.

merges with a foreign insurer.

becomes financially insolvent.

depletes its loss reserves.

a risk.

a peril.

a hazard.

an exposure.

absolute statements.

misrepresentations.

representations.

warranties.

coverage amount to match the loan amount.

conversion privileges.

Individual policies.

group policies.

30 calendar days

45 calendar days

60 calendar days

90 calendar days

be barred from seeking an appeal.

receive a deduction in commissions.

be charged interest on the refund amount.

have his or her license suspended or revoked.

Dodd Frank Act

McCarran-Ferguson Act

Fair Credit Reporting Act

Unauthorized Insurers Service of Process Act

provide evidence of insurability.

renew for at least 10 years.

pay an annual premium that may be higher.

convert to a whole life policy.

an exposure.

a hazard.

a peril.

a risk.

a suspension from the National Association of Securities Dealers.

the revocation of an insurance license held in another state.

the sharing of commissions with another qualified agent.

a felony criminal conviction.

fixed value rates

variable sub accounts

market value adjustments

interest sensitive trigger

negotiating

selling

soliciting

underwriting

Straight life with guaranteed payments.

Joint life.

Straight life.

Joint and survivor life.

policyholder suffers a disability.

first premium has been paid.

policy has been in force for one year.

policy reaches its maturation date.

30 days.

45 days.

60 days.

90 days.

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.

It requires only one payment to make the policy paid up.

It provides for only one premium to be paid without evidence of insurability.

It waives one future premium if the owner becomes disabled.

It requires the policyowner to pay one premium annually.

death benefits.

college tuition.

retirement Income.

safety of principal.

purchased as part of a structured corporate pension plan.

each employee signs and receives an individual contract.

participation is limited to eligible employees.

considered a defined-benefit plan.

Insurance.

Survivorship Policy.

Joint Life Contract.

Single-Life Insurance.

The cash value is paid to the beneficiary.

The cash value is paid into the estate.

The cash value is paid to the IRS.

The company keeps the cash value.

Cost of Living.

Waiver of Premium.

Accidental Death Rider.

Guaranteed Insurability.

hazard.

peril.

indemnity.

loss.