Latest 2024 Realistic Verified OH-Life-Agent-Series-11-44 Dumps - 100% Free OH-Life-Agent-Series-11-44 Exam Dumps

Get 2024 Updated Free Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Questions and Answer

NEW QUESTION # 16
Interest earned on a Traditional IRA is taxed

• A. prior to contribution.
• B. during the accumulation period.
• C. at distribution.
• D. only if there is a premature distribution.

Answer: C

NEW QUESTION # 17
The PRIMARY reason for purchasing life Insurance Is to provide

• A. retirement Income.
• B. death benefits.
• C. college tuition.
• D. safety of principal.

Answer: B

NEW QUESTION # 18
What does a limited payment whole life policy provide?

• A. A lower premium.
• B. Life time protection.
• C. Pure protection.
• D. Protection to age 65.

Answer: A

NEW QUESTION # 19
Which of the following policies allows the policyowner to change two policy features?

• A. Credit Life.
• B. Term Life.
• C. Adjustable Life.
• D. Modified Life.

Answer: C

NEW QUESTION # 20
What is an Insurer's liability when it Is discovered after an Insured dies that the Insured's age on the policy was
misstated?

• A. The insurer is not liable to pay any amount due to the insured's misstatement of age.
• B. The insurer must pay the full amount of the policy, minus any additional premiums the Insurance
  company would have paid based on the Insured's actual age.
• C. The insurer must pay the full amount as stated in the policy, as age is not considered a relevant factor.
• D. The insurer must pay a prorated amount of the policy based on the amount of insurance the insured's
  premiums would have been if purchased at the correct age.

Answer: D

NEW QUESTION # 21
Kelvin is receiving tax deferred growth until retirement. In what phase would Kelvin's annuity be?

• A. Accumulation period.
• B. Payout period.
• C. Annuity period.
• D. Nonforfeiture period.

Answer: A

NEW QUESTION # 22
Statements by an applicant concerning personal health history, family health history, occupation, and hobbies
are referred to as

• A. representations.
• B. certifications.
• C. personal characteristics.
• D. depictions.

Answer: A

NEW QUESTION # 23
Which rider would allow additional insurance to be purchased at specified dates or events, without additional
underwriting?

• A. Guaranteed insurability.
• B. Disability income.
• C. Guaranteed renewability.
• D. Cost of living.

Answer: A

NEW QUESTION # 24
Which of the following statements is TRUE regarding a waiver of premium rider?

• A. There will be no change in the policy other than the insured no longer has to pay the premiums on the
  policy.
• B. The insured will automatically become eligible for accelerated death benefits.
• C. The policy's cash value will continue to grow, but at a slower rate because the insured is no longer
  paying premiums.
• D. The death benefit will be reduced by the amount of the unpaid premiums.

Answer: A

NEW QUESTION # 25
An insured has a 5-year Renewable Term Life Insurance Policy. Upon exercising the renewable privilege, the
Insured MUST

• A. provide evidence of insurability.
• B. pay an annual premium that may be higher.
• C. convert to a whole life policy.
• D. renew for at least 10 years.

Answer: B

NEW QUESTION # 26
Under an executive bonus plan, premiums paid by the employer are

• A. tax deductible to both the employee and employer.
• B. reported as taxable income to the employee.
• C. only tax deductible when the bonus is an insurance plan.
• D. reported as taxable Income to the employer.

Answer: B

NEW QUESTION # 27
What is the approach to assessing the consumer's need for life insurance that focuses on an individual's future
stream of income?

• A. Needs approach
• B. Affordability approach
• C. Return of Investment approach
• D. Human Life Value approach

Answer: D

NEW QUESTION # 28
The only beneficiary named in a life insurance policy died before the Insured. The policyowner did not name a
new beneficiary. When a claim is filed, the death benefit would be paid to the

• A. insured's estate.
• B. policyowner.
• C. Insured's next of kin.
• D. beneficiary's estate.

Answer: A

NEW QUESTION # 29
All the following policies qualify for a 1035 Exchange EXCEPT

• A. an annuity to a whole life policy.
• B. a whole life policy to another whole life policy.
• C. an annuity to another annuity.
• D. a whole life policy to an annuity.

Answer: A

NEW QUESTION # 30
Upon the divorce of an insured who designated their spouse as the beneficiary, which of the following actions
will result?

• A. the spouse designated as beneficiary will remain an irrevocable beneficiary
• B. the policy will automatically be terminated
• C. the insured must pay 50% of the premiums paid to the spouse named as the beneficiary
• D. the designation of the spouse as a beneficiary is revoked

Answer: D

NEW QUESTION # 31
Under the children's term rider, what occurs when a child reaches the specified age? He or she

• A. may Increase the term coverage of the rider.
• B. must show evidence of insurability to remain covered.
• C. is eliminated from coverage.
• D. automatically becomes the beneficiary of the life insurance policy.

Answer: B

NEW QUESTION # 32
If an agent does NOT send a refund to a policyholder within an expectable time frame, the agent may

• A. have his or her license suspended or revoked.
• B. receive a deduction in commissions.
• C. be charged interest on the refund amount.
• D. be barred from seeking an appeal.

Answer: A

NEW QUESTION # 33
What type of insurance is the cheapest option to pay off a 30-year mortgage balance?

• A. Decreasing term insurance.
• B. Variable life insurance.
• C. Increasing term insurance.
• D. Level term insurance.

Answer: A

NEW QUESTION # 34
The premium mode defines the

• A. premium amount.
• B. frequency of the premium payment.
• C. method of premium payment.
• D. premium limit.

Answer: B

NEW QUESTION # 35
It is unlawful for a person to provide an advertisement which

• A. refers to the insurer's financial rating.
• B. points out coverage advantages of a policy.
• C. uses a policy title to inaccurately describe a coverage.
• D. uses a testimonial.

Answer: C

NEW QUESTION # 36
All the following riders can Increase the death benefit amount EXCEPT

• A. Accidental Death Rider.
• B. Cost of Living.
• C. Waiver of Premium.
• D. Guaranteed Insurability.

Answer: A

NEW QUESTION # 37
An Insured owns a whole life policy that has accumulated cash value. Which of the following statements Is
true about the policy's cash value?

• A. The policy's cash value is viewed as investment growth and therefore subject to taxation for each
  calendar year.
• B. It is subject to fluctuations of the company's overall performance.
• C. The cash value is not guaranteed.
• D. The growth of the policy's cash value Is not subject to income tax while the policy Is in force.

Answer: D

NEW QUESTION # 38
A single premium Immediate annuity Is MOST often used for

• A. mortgage payments.
• B. retirement income.
• C. vacation expenses.
• D. children's college expenses.

Answer: B

NEW QUESTION # 39
An agent's actions or deeds demonstrate what kind of authority?

• A. inherent
• B. apparent
• C. delegated
• D. express

Answer: B

NEW QUESTION # 40
......

OH-Life-Agent-Series-11-44 Dumps PDF and Test Engine Exam Questions: https://www.braindumpsit.com/OH-Life-Agent-Series-11-44_real-exam.html

Get New OH-Life-Agent-Series-11-44 Certification – Valid Exam Dumps Questions: https://drive.google.com/open?id=19cxZLuhAGYyRNumL-zXPUETUSTFECIHP