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Ohio Department of Insurance OHIO Life Insurance Agent Series 11-44 Sample Questions:
1. At what age can an Individual begin to receive distributions from an IRA without a tax penalty?
A) 63 1/2 years.
B) 59 1/2 years.
C) 65 1/2 years.
D) 55 1/2 years.
2. Generally, rates charged for Insurance may NOT be
A) excessive, inadequate, or unfairly discriminatory.
B) different for persons withdiffering risk profiles.
C) cost prohibitive.
D) discriminatory.
3. Risks are generally NOT Insurable if
A) the policyholder has a policy from another insurer.
B) deductibles would be required.
C) there are many individuals who may also experience a similar loss.
D) the loss is expected.
4. 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 designation of the spouse as a beneficiary is revoked
C) the policy will automatically be terminated
D) the insured must pay 50% of the premiums paid to the spouse named as the beneficiary
5. Which of the following statements BEST describes a single premium cash value policy?
A) It waives one future premium if the owner becomes disabled.
B) It requires only one payment to make the policy paid up.
C) It provides for only one premium to be paid without evidence of insurability.
D) It requires the policyowner to pay one premium annually.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: B |
By Lillian
