Free OHIO Life Insurance Agent Series 11-44 Practice Questions

A.  

application is signed.

B.  

policy is delivered and accepted.

C.  

company underwriter approves the risk.

D.  

application is postmarked and mailed to the insurer.

A.  

Needs approach

B.  

Affordability approach

C.  

Human Life Value approach

D.  

Return of Investment approach

A.  

purchased as part of a structured corporate pension plan.

B.  

each employee signs and receives an individual contract.

C.  

participation is limited to eligible employees.

D.  

considered a defined-benefit plan.

A.  

risk selection.

B.  

medical underwriting.

C.  

adverse selection.

D.  

risk underwriting.

A.  

Annuity.

B.  

Whole Life.

C.  

Qualified Retirement.

D.  

Tax Sheltered Annuity.

A.  

automatically becomes the beneficiary of the life insurance policy.

B.  

must show evidence of insurability to remain covered.

C.  

may Increase the term coverage of the rider.

D.  

is eliminated from coverage.

A.  

equals the face amount of the policy.

B.  

results In a dividend payment to the policyowner.

C.  

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

D.  

requires mandatory cash value distributions.

A.  

upon request of an insured

B.  

upon request of the superintendent

C.  

under no circumstances due to privacy consideration

D.  

by authorization from the National Association of Insurance Commissioners (NAIC)

A.  

underwriting

B.  

cost containment

C.  

adverse selection

D.  

claims experience

A.  

Each party is entitled to rely on others' representations.

B.  

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

C.  

The terms must be accepted or rejected in full.

D.  

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