Ohio Life, Accident & Health Insurance Exam (Series 11-35),
Life Insurance Basics Complete Test , Practice Questions,
Verified Answer Key, and Study Guide for 2026 Edition,
Actual Complete Real Exam Questions And Correct
Answers (Verified Answers) Already Graded A+ |
Guaranteed Success | Newest Exam | Just
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When must insurable interest exist in a life insurance policy? -
ANSWER-At the
time of
application
What does liquidity mean in a life insurance policy? -
ANSWER-Availability of
cash
value
What are the personal uses of life insurance? - ANSWER-
Survivor protection,
estate creation and conservation, cash
accumulation and liquidity
If an insured changes his payment plan from monthly to
annually, what happens
to the total premium? - ANSWER-
Decrease
, What type of life insurance offers an applicant a cash
value element -
ANSWER-
Permanent
Who is responsible for the contents of insurance
advertisements? - ANSWER-
The insurance
company
Who is the beneficiary on a key-person life insurance policy?
- ANSWER-The
employer
At what point does coverage begin when an agent issues a
conditional receipt for a life insurance policy? - ANSWER-
Either on the date of the application or the date of the medical
exam, whichever occurs last
What is the purpose of the agent's report during the application
process? - ANSWER-Agent's personal observations about the
proposed insured which may help during the underwriting
process
What is the purpose of key person insurance? - ANSWER-To
minimize the risk
of financial loss caused by the death of a key
employee
Life Insurance Basics Complete Test , Practice Questions,
Verified Answer Key, and Study Guide for 2026 Edition,
Actual Complete Real Exam Questions And Correct
Answers (Verified Answers) Already Graded A+ |
Guaranteed Success | Newest Exam | Just
Released!
When must insurable interest exist in a life insurance policy? -
ANSWER-At the
time of
application
What does liquidity mean in a life insurance policy? -
ANSWER-Availability of
cash
value
What are the personal uses of life insurance? - ANSWER-
Survivor protection,
estate creation and conservation, cash
accumulation and liquidity
If an insured changes his payment plan from monthly to
annually, what happens
to the total premium? - ANSWER-
Decrease
, What type of life insurance offers an applicant a cash
value element -
ANSWER-
Permanent
Who is responsible for the contents of insurance
advertisements? - ANSWER-
The insurance
company
Who is the beneficiary on a key-person life insurance policy?
- ANSWER-The
employer
At what point does coverage begin when an agent issues a
conditional receipt for a life insurance policy? - ANSWER-
Either on the date of the application or the date of the medical
exam, whichever occurs last
What is the purpose of the agent's report during the application
process? - ANSWER-Agent's personal observations about the
proposed insured which may help during the underwriting
process
What is the purpose of key person insurance? - ANSWER-To
minimize the risk
of financial loss caused by the death of a key
employee
