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OH-Life-Agent-Series-11-44 Exam Dumps - Ohio Department of Insurance OHIO Life Insurance Questions and Answers

Question # 14

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

Options:

A.

Needs approach

B.

Affordability approach

C.

Human Life Value approach

D.

Return of Investment approach

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Question # 15

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.

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Question # 16

To receive proceeds from a death benefit, a minor

Options:

A.

must be related to the insured.

B.

can only be named as a contingent beneficiary.

C.

must be at least 16 years old.

D.

must have an appointed guardian.

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Question # 17

An insured has chosen to receive the payout from her husband's life insurance policy so that she will receive an Income for the next 10 years. At the end of that time, the entire proceeds from the policy will have been paid out. The insured has selected which option?

Options:

A.

Fixed period.

B.

Interest only.

C.

Fixed amount.

D.

Life income.

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Question # 18

As a form of level premium permanent Insurance, ordinary life Insurance accumulates a reserve that eventually

Options:

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.

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Question # 19

The PRIMARY reason for purchasing life Insurance Is to provide

Options:

A.

death benefits.

B.

college tuition.

C.

retirement Income.

D.

safety of principal.

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Question # 20

An annuitant dies during the accumulation period. What happens to the cash value in the annuity?

Options:

A.

The cash value is paid to the beneficiary.

B.

The cash value is paid into the estate.

C.

The cash value is paid to the IRS.

D.

The company keeps the cash value.

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Question # 21

Insurers do business in Ohio only after a thorough financial review. Most insurance policies written in Ohio are protected by the Guaranty Association established to protect policy owners In the event an admitted company

Options:

A.

cannot meet it's capital surplus requirements.

B.

merges with a foreign insurer.

C.

becomes financially insolvent.

D.

depletes its loss reserves.

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Question # 22

Which of the following statements BEST describes a single premium cash value policy?

Options:

A.

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

B.

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

C.

It waives one future premium if the owner becomes disabled.

D.

It requires the policyowner to pay one premium annually.

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Question # 23

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.

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Exam Name: OHIO Life Insurance Agent Series 11-44
Last Update: Feb 23, 2025
Questions: 105
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