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Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Insurance Regulation | 12% | - Disciplinary actions and penalties - Resident and non-resident rules - Licensing requirements and maintenance - State and federal insurance laws - Continuing education requirements |
| Types of Life Insurance Policies | 12% | - Whole life and permanent life - Term life insurance - Universal and indexed universal life - Group and credit life insurance |
| General Insurance Concepts | 12% | - Elements of insurance contracts - Types of insurers and market conduct - Risk management and insurable interest - Agent authority and responsibilities |
| Federal Tax Considerations | 12% | - Tax treatment of annuities - Modified Endowment Contracts (MECs) - 1035 Exchanges and rollovers - Taxation of life insurance proceeds |
| Annuities | 12% | - Payment options and uses - Fixed and specialty annuities - Annuity principles and types - Immediate vs deferred annuities |
| Policy Provisions, Options & Riders | 22% | - Standard policy provisions - Dividends, loans and withdrawals - Common policy riders - Nonforfeiture and settlement options - Beneficiary designations |
| Life Insurance Basics | 18% | - Determining coverage amounts - Underwriting and policy issue - Viatical settlements and specialized plans - Personal and business uses of life insurance |
Ohio Department of Insurance OHIO Life Insurance Agent Series 11-44 Sample Questions:
Question 1
An insured has a 5-year Renewable Term Life Insurance Policy. Upon exercising the renewable privilege, the
Insured MUST
A. convert to a whole life policy.
B. pay an annual premium that may be higher.
C. provide evidence of insurability.
D. renew for at least 10 years.
Question 2
An agent's underwriting duties Include which of the following?
A. Setting premium amounts.
B. Issuing the policy.
C. Completing all applications and collecting initial premiums.
D. Declining or accepting an application.
Question 3
Which of the following is a life insurance contract written on the life of an individual?
A. Joint Life Contract.
B. Single-Life Insurance.
C. Insurance.
D. Survivorship Policy.
Question 4
Which of the following is a characteristic of a contract of adhesion?
A. The insurer's obligations are dependent upon certain acts of the insured individual.
B. The terms must be accepted or rejected in full.
C. The Insurer agrees to pay a stated sum regardless of loss.
D. Each party is entitled to rely on others' representations.
Question 5
When a policy owner requests a partial surrender from her Universal Life Policy she Is requesting which of the
following?
A. A loan from the policy.
B. Surrender of the policy.
C. Decrease In the coverage amount.
D. Cash withdrawal.
Solutions:
| Question 1 Answer: B | Question 2 Answer: C | Question 3 Answer: D | Question 4 Answer: B | Question 5 Answer: D |
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