NAVY CS STOCKS AND SAUCES EXAMPREP
STUDY GUIDE 2026 FULL QUESTIONS AND
CORRECT ANSWERS
▶ Who may terminate an agent's appointment? Answer: insurer
▶ An agent must submit notification of a change of business address within
a MAXIMUM of how many days after the change? Answer: 30
▶ What is a certificate of authority? Answer: The license required for an
insurer to conduct business in the state
▶ Before a licensed agent is eligible to transact insurance sales, they must
be Answer: appointed by an insurance company
▶ When an agent is replacing an existing ordinary life insurance policy, the
agent must take all of the following actions EXCEPT Answer: obtain the
beneficiary's signature on a summary of all policies to be replaced
▶ In conjunction with an Ohio insurance license renewal, which one of the
following is the continuing education REQUIREMENT? Answer: 24 hours
every 2 years
▶ Which of the following statements about the contestability of a life
insurance policy is true? Answer: The policy can be contested by the
insurer only during the first two years of the contract
▶ In Ohio, an agent may have his/her license revoked for which of the
following acts? Answer: Failure to pay state income tax
▶ A temporary agent license can be issued in any of the following
circumstances EXCEPT Answer: a prospective agent who is enrolled in an
insurance pre-license class
▶ An insurance agent agrees to pay the first monthly premium for an
insurance applicant. This is called a(n) Answer: rebate
, ▶ Suitability is Answer: obtaining information from the applicant to
determine whether an insurance or annuity product is appropriate
▶ Insurance agent Kelly offers insured a $500 shopping card if they
purchase an insurance product through her. What is this an example of?
Answer: rebating, which is an unfair trade practice
▶ All of the following may be an unfair claims practice EXCEPT Answer:
Refusing to pay persons bringing false or fraudulent claims
▶ A life insurance illustration showing future premiums being paid out of
nonguaranteed values must disclose that Answer: The policyowner may
need to resume premium payments depending on actual results
▶ What is the purpose of the Ohio Life and Health Insurance Guaranty
Association Act? Answer: to protect the insured from company insolvency
▶ Under US Code 1033, crimes by or affecting persons engaged in the
business of insurance which affect interstate commerce are prosecuted by
the Answer: US Attorney General
▶ An Ohio insurance agent solicits a life insurance policy. In the event of a
controversy between the insured and the company, the agent is considered
to represent the Answer: company
▶ The superintendent is REQUIRED to examine domestic insurers AT
LEAST every Answer: 3 years
▶ A life insurance policy loan shall bear interest at a specified rate, NOT in
excess of Answer: 8%
▶ When determining whether an annuity is suitable for a client, the agent
should ask about which of the following? Answer: Financial objectives
▶ What MUST the company do prior to conducting an HIV related test?
Answer: Obtain a written authorization from the proposed insured
STUDY GUIDE 2026 FULL QUESTIONS AND
CORRECT ANSWERS
▶ Who may terminate an agent's appointment? Answer: insurer
▶ An agent must submit notification of a change of business address within
a MAXIMUM of how many days after the change? Answer: 30
▶ What is a certificate of authority? Answer: The license required for an
insurer to conduct business in the state
▶ Before a licensed agent is eligible to transact insurance sales, they must
be Answer: appointed by an insurance company
▶ When an agent is replacing an existing ordinary life insurance policy, the
agent must take all of the following actions EXCEPT Answer: obtain the
beneficiary's signature on a summary of all policies to be replaced
▶ In conjunction with an Ohio insurance license renewal, which one of the
following is the continuing education REQUIREMENT? Answer: 24 hours
every 2 years
▶ Which of the following statements about the contestability of a life
insurance policy is true? Answer: The policy can be contested by the
insurer only during the first two years of the contract
▶ In Ohio, an agent may have his/her license revoked for which of the
following acts? Answer: Failure to pay state income tax
▶ A temporary agent license can be issued in any of the following
circumstances EXCEPT Answer: a prospective agent who is enrolled in an
insurance pre-license class
▶ An insurance agent agrees to pay the first monthly premium for an
insurance applicant. This is called a(n) Answer: rebate
, ▶ Suitability is Answer: obtaining information from the applicant to
determine whether an insurance or annuity product is appropriate
▶ Insurance agent Kelly offers insured a $500 shopping card if they
purchase an insurance product through her. What is this an example of?
Answer: rebating, which is an unfair trade practice
▶ All of the following may be an unfair claims practice EXCEPT Answer:
Refusing to pay persons bringing false or fraudulent claims
▶ A life insurance illustration showing future premiums being paid out of
nonguaranteed values must disclose that Answer: The policyowner may
need to resume premium payments depending on actual results
▶ What is the purpose of the Ohio Life and Health Insurance Guaranty
Association Act? Answer: to protect the insured from company insolvency
▶ Under US Code 1033, crimes by or affecting persons engaged in the
business of insurance which affect interstate commerce are prosecuted by
the Answer: US Attorney General
▶ An Ohio insurance agent solicits a life insurance policy. In the event of a
controversy between the insured and the company, the agent is considered
to represent the Answer: company
▶ The superintendent is REQUIRED to examine domestic insurers AT
LEAST every Answer: 3 years
▶ A life insurance policy loan shall bear interest at a specified rate, NOT in
excess of Answer: 8%
▶ When determining whether an annuity is suitable for a client, the agent
should ask about which of the following? Answer: Financial objectives
▶ What MUST the company do prior to conducting an HIV related test?
Answer: Obtain a written authorization from the proposed insured
