1 OHIO LIFE EXAM 11-44: EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+

1 OHIO LIFE EXAM 11-44: EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+ Which of the following would be sufficient violation to warrant rejection, revocation, or suspension of an insurance agent's license? 1) a moving violation ticket 2) a denied license in another state 3) acting as a fiduciary 4) an unintentional misrepresentation of the terms of a contract - -2) a denied license in another state What method do insurers use to protect themselves against catastrophic losses? 1) pro rata liability 2) risk management 3) reinsurance 4) indemnity - -3) reinsurance All of the following are true about variable products EXCEPT: 1) the cash value is not guaranteed 2) policy owners bear the investment risk 3) the premiums are invested in the insurer's general account 4) the minimum death benefit is guaranteed - -3) the premiums are invested in the insurer's general account All of the following are characteristics of a group life insurance plan EXCEPT: 1) the participants receive a Certificate of Insurance as their proof of insurance 2) a minimum number of participants is required in order to underwrite the plan 3) the cost of the plan is determined by the average age of the group 4) there is a requirement to prove insurability on the part of the participants - -4) there is a requirement to prove insurability on the part of the participants Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or become disabled? 1) waiver of premium 2) payor benefit 3) humping juvenile 4) juvenile premium provision - -2) payor benefit Which of the following will be included in a policy summary? 1) copies of illustrations and application 2) comparisons with similar policies 3) primary and secondary beneficiary designatio