OHIO LIFE/HEALTH INSURANCE EXAM 2026 ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALL ANSWERED D139 Q & A} ALREADY GRADED A+ | GUARANTEED PASS

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OHIO LIFE/HEALTH INSURANCE EXAM 2026 ACT
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UAL EXAM QUESTIONS AND CORRECT DETAILE
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D ANSWERS (VERIFIED ANSWERS) ALL ANSWER
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ED D139 Q & A} ALREADY GRADED A+ | GUARANTE
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ED PASS v




A viator is the owner of a life insurance policy and transferred o
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wnership by a ______ agreed to by___ and ______ through a _____ _.
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-
✔✔✔vCorrectvAnswer>vviaticalv settlementv contract;v thev viator;v thev viaticalv
settlement provider; viatical settlement broker
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Which statement is FALSE about the replacement of Life Insuran
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ce?
a. Agents must review the existing policy prior to replacement to
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see if it contains any limitations
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b. Replacement is illegal v v




c. Replacement to the detriment of the client is illegal v v v v v v v v




d. Special forms must be given to clients electing to replace
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coverage -✔✔✔ Correct Answer> b. Replacement is illegal
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Which of the following is NOT a true statement about advertising?
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a. The agent controls who will receive the advertising
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b. The company cannot control who receives the advertising
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c. Deceptive practices are prohibited v v v




d. Direct mail is advertising - v v v v



✔✔✔ Correct Answer> The agent controls who will receive the advert
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ising


What type of insurance consists of an unincorporated group of p
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ersons that provides insurance among themselves through an ex
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change of indemnity agreements? -
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✔✔✔ Correct Answer> Reciprocal Insurer
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Choose the incorrect statement regarding qualified plans?
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a. Qualified plans have a special tax advantages under ERISA
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b. Rollovers are subject to tax unless reinvested within 30 days
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c. Trustee to trustee rollovers are permitted without actual
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distribution of funds v v




d. TSA (403b) plans are salary reduction plans with contributions
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in before-tax dollars -
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✔✔✔ Correct Answer> b. Rollovers are subject to tax unless reinvested
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within 30 days v v




What are the tax implications when an annuitant, at age 56, elec
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ts to take a cash surrender of a Deferred Annuity during the accu
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mulation period? - v v



✔✔✔ Correct Answer> Only the interest is taxable as ordinary income, b
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ut the interest is also subject to an IRS 10% early withdrawal pena
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lty

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What statement about insurance is FALSE?
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a. It involves the pooling of large numbers of individual risks
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b. It is a form of gambling because it may or may not pay off
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c. It is a social device for spreading loss over large numbers of
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people
d. It transfers risk from one party to a group -
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✔✔✔ Correct Answer> b. It is a form of gambling because it may or m
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ay not pay off
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A valid 1035 exchange of a Life Insurance contract must be - ✔✔✔
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Correct Answer > On the life of the same person
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Once classified as a Modified Endowment Contract (MEC), the c
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ontract will remain that way -✔✔✔ Correct Answer> Forever
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Insurable interest exists only when a number of condition are m
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et. Which of the following is NOT one of the requirements for ins
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urable interest? v




a. The applicant must face a risk of loss
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b. The applicant must have an interest in protecting what is i
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nsured
c. The applicant must not have a potential for gain because of the
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insurance