NAVY CS STOCKS AND SAUCES PRACTICE
SOLUTION SET 2026 QUESTIONS WITH
ANSWERS GRADED A+
▶ 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
▶ The Ohio insurance superintendent is appointed to office and has all of
the following powers and duties EXCEPT Answer: enact legislation dealing
with insurance
▶ In Ohio, a life insurance policy can be backdated before the application
date for up to Answer: 3 months
▶ How long must a life insurance policy be in effect before the policyowner
may use the nonforfeiture provision? Answer: 3 years
▶ No insurer, agent, broker, solicitor, or person, in connection with an
insurance transaction shall offer or promise to buy, sell, give, or allow the
prospective insured employment, stock or special favors. This is the
definition of Answer: inducement
▶ When can a policy no longer be cancelled for nonfraudulent
misstatements after its date of issue? Answer: 2 years
SOLUTION SET 2026 QUESTIONS WITH
ANSWERS GRADED A+
▶ 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
▶ The Ohio insurance superintendent is appointed to office and has all of
the following powers and duties EXCEPT Answer: enact legislation dealing
with insurance
▶ In Ohio, a life insurance policy can be backdated before the application
date for up to Answer: 3 months
▶ How long must a life insurance policy be in effect before the policyowner
may use the nonforfeiture provision? Answer: 3 years
▶ No insurer, agent, broker, solicitor, or person, in connection with an
insurance transaction shall offer or promise to buy, sell, give, or allow the
prospective insured employment, stock or special favors. This is the
definition of Answer: inducement
▶ When can a policy no longer be cancelled for nonfraudulent
misstatements after its date of issue? Answer: 2 years
