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Ohio Life insurance Exam / Questions with Correct
Answers, A+ Score Solutions.
a whole life policy option where extended term insurance is selected is
called - ...ANSWER✓✓✓nonforfeiture option
all of the following are examples of business continuation plan except -
...ANSWER✓✓✓Deffered Compensation
all of the following are examples of pure risk except
losing money at a casino injured while playing
football falling at a casino and breaking a hip
jewelry stolen during a home robbery - ...ANSWER✓✓✓losing money
at a casino
all of the following are responsibilities of the superintendent except
administering oaths subpoena a witness approving
policy forms endorsing insurers -
...ANSWER✓✓✓endorsing insurers
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all of the following may be an unfair claims practice except turning
down a claim without providing the basis of denial denying an insured
fraudulent claim
failing to promptly acknowledge pertinent communications concerning
claims
failing to effectuate prompt, fair and equitable settlements of a claim -
...ANSWER✓✓✓denying an insured fraudulent claim
All of these are valid options for an Adjustable Life Policy
EXCEPT
The policy's premium can be increased or decreased
The policy's death benefit can be increased or decreased
A nonforfeiture option can be used to increase the death benefit
The policy's protection period can be modified -
...ANSWER✓✓✓A non forfeiture option can be used to increase the
death benefit
All of these are valid policy dividend options for a life insurance
policyowner EXCEPT
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cash outlay to the policy owner accumulate
without interest reduction in policy
premium buy additional insurance
coverage - ...ANSWER✓✓✓accumulate
without interest
all of these characteristics of a universal life insurance policy except
flexible death benefit fixed
surrender value flexible premiums builds cash value -
...ANSWER✓✓✓fixed surrender value
An advertisement for an insurance product may contain -
...ANSWER✓✓✓the insurer's name
an agent's renewal date for his/his license is on or before -
...ANSWER✓✓✓the last day of the licensee's birth month
an agents license has been suspended for non-renewal. The agent may
apply for reinstatement - ...ANSWER✓✓✓within 12 months of the
license renewal date
Ohio Life insurance Exam / Questions with Correct
Answers, A+ Score Solutions.
a whole life policy option where extended term insurance is selected is
called - ...ANSWER✓✓✓nonforfeiture option
all of the following are examples of business continuation plan except -
...ANSWER✓✓✓Deffered Compensation
all of the following are examples of pure risk except
losing money at a casino injured while playing
football falling at a casino and breaking a hip
jewelry stolen during a home robbery - ...ANSWER✓✓✓losing money
at a casino
all of the following are responsibilities of the superintendent except
administering oaths subpoena a witness approving
policy forms endorsing insurers -
...ANSWER✓✓✓endorsing insurers
,2|Page
all of the following may be an unfair claims practice except turning
down a claim without providing the basis of denial denying an insured
fraudulent claim
failing to promptly acknowledge pertinent communications concerning
claims
failing to effectuate prompt, fair and equitable settlements of a claim -
...ANSWER✓✓✓denying an insured fraudulent claim
All of these are valid options for an Adjustable Life Policy
EXCEPT
The policy's premium can be increased or decreased
The policy's death benefit can be increased or decreased
A nonforfeiture option can be used to increase the death benefit
The policy's protection period can be modified -
...ANSWER✓✓✓A non forfeiture option can be used to increase the
death benefit
All of these are valid policy dividend options for a life insurance
policyowner EXCEPT
, 3|Page
cash outlay to the policy owner accumulate
without interest reduction in policy
premium buy additional insurance
coverage - ...ANSWER✓✓✓accumulate
without interest
all of these characteristics of a universal life insurance policy except
flexible death benefit fixed
surrender value flexible premiums builds cash value -
...ANSWER✓✓✓fixed surrender value
An advertisement for an insurance product may contain -
...ANSWER✓✓✓the insurer's name
an agent's renewal date for his/his license is on or before -
...ANSWER✓✓✓the last day of the licensee's birth month
an agents license has been suspended for non-renewal. The agent may
apply for reinstatement - ...ANSWER✓✓✓within 12 months of the
license renewal date
