OHIO LIFE EXAM 11-44 EXAM QUESTIONS AND ANSWERS 2025
18 - (ANSWER)Minimum age for licensed agent.
15 - (ANSWER)Age legally able to enter into insurance contract.
Agent - (ANSWER)Legal representative of an insurance company also called producer.
Applicant - (ANSWER)Person applying for insurance.
Hazard - (ANSWER)Conditions that increase the probability of a loss.
Moral - (ANSWER)Type of hazard that increases risk.
Morale - (ANSWER)Type of hazard where individual is indifferent to loss.
Indemnity - (ANSWER)Restoring the insured to the condition that existed before loss.
Insurance - (ANSWER)Transfer of risk of loss from an individual to an insurer.
Insurance transaction - (ANSWER)Solicitation, negotiations, or effectuation of a contract.
Insured - (ANSWER)The person covered by the insurance policy.
Insurer - (ANSWER)A company that issues an insurance policy.
Law of large numbers - (ANSWER)The larger the number of people with the same exposure to loss, the
more predictable the actual loss will be.
Peril - (ANSWER)The cause of loss.
, OHIO LIFE EXAM 11-44 EXAM QUESTIONS AND ANSWERS 2025
Risk - (ANSWER)Uncertainty or chance of a loss.
Pure - (ANSWER)Type of risk that is insurable.
Speculative - (ANSWER)Type of risk that is not insurable, for example gambling.
Stock - (ANSWER)Type of ownership that is nonparticipating.
Mutual - (ANSWER)Type of ownership where dividends go to policyowner.
Admitted - (ANSWER)Authority to transact business also called authorized.
Domestic - (ANSWER)Location or domicile where insurance company is located within the state.
Foreign - (ANSWER)Location or domicile where insurance company is located in another state or
province.
Alien - (ANSWER)Location or domicile where insurance company is located in another country.
Agreement - (ANSWER)Required element of an insurance contract that includes an offer and
acceptance.
Consideration - (ANSWER)Required element of an insurance contract where something of value is
exchanged.
Competent - (ANSWER)Required element of an insurance contract where the parties are of legal age and
mentally___________ .
18 - (ANSWER)Minimum age for licensed agent.
15 - (ANSWER)Age legally able to enter into insurance contract.
Agent - (ANSWER)Legal representative of an insurance company also called producer.
Applicant - (ANSWER)Person applying for insurance.
Hazard - (ANSWER)Conditions that increase the probability of a loss.
Moral - (ANSWER)Type of hazard that increases risk.
Morale - (ANSWER)Type of hazard where individual is indifferent to loss.
Indemnity - (ANSWER)Restoring the insured to the condition that existed before loss.
Insurance - (ANSWER)Transfer of risk of loss from an individual to an insurer.
Insurance transaction - (ANSWER)Solicitation, negotiations, or effectuation of a contract.
Insured - (ANSWER)The person covered by the insurance policy.
Insurer - (ANSWER)A company that issues an insurance policy.
Law of large numbers - (ANSWER)The larger the number of people with the same exposure to loss, the
more predictable the actual loss will be.
Peril - (ANSWER)The cause of loss.
, OHIO LIFE EXAM 11-44 EXAM QUESTIONS AND ANSWERS 2025
Risk - (ANSWER)Uncertainty or chance of a loss.
Pure - (ANSWER)Type of risk that is insurable.
Speculative - (ANSWER)Type of risk that is not insurable, for example gambling.
Stock - (ANSWER)Type of ownership that is nonparticipating.
Mutual - (ANSWER)Type of ownership where dividends go to policyowner.
Admitted - (ANSWER)Authority to transact business also called authorized.
Domestic - (ANSWER)Location or domicile where insurance company is located within the state.
Foreign - (ANSWER)Location or domicile where insurance company is located in another state or
province.
Alien - (ANSWER)Location or domicile where insurance company is located in another country.
Agreement - (ANSWER)Required element of an insurance contract that includes an offer and
acceptance.
Consideration - (ANSWER)Required element of an insurance contract where something of value is
exchanged.
Competent - (ANSWER)Required element of an insurance contract where the parties are of legal age and
mentally___________ .
