3 3 OH Accident and Health Agent
Series 11-45 practice exam questions
and answers 2026
A type of insurer that is owned by its policyowners is called - ANSWERMutual
ABC Insurance Company transfers part of their risk to XYZ Insurance
Company. This situation is called - ANSWERReinsurance
A nonparticipating policy will - ANSWERnot pay dividends
A(n) ______ company is owned by its shareholders. - ANSWERstock
Karen is a producer who has obtained personal information about a client
without having a legitimate reason to do so. Under the McCarran-Ferguson
Act, what is the minimum penalty for this? - ANSWERA fine of $10,000 or up
to one year in jail is the penalty for any person who obtains information
about a client without having a legitimate reason to receive it.
Ken is a producer who has obtained Consumer Information Reports under
false pretenses. Under the Fair Credit Reporting Act, what is the maximum
penalty that may be imposed on Ken? - ANSWERUnder the Fair Credit
Reporting Act, the maximum penalty for a producer who obtains Consumer
Information Reports under false pretenses is $5,000 and 1 year
imprisonment.
The Do Not Call Registry offers exemptions for calls placed from all of the
following EXCEPT - ANSWERinsurance sales calls.
A plan in which an employer pays insurance benefits from a fund derived
from the employer's current revenues is called - ANSWERA self-funded plan
An insurer's claim settlement practices are regulated by the - ANSWERState
insurance departments
Which of the following is NOT considered advertising? - ANSWERA rating
from a rating service company, such as A.M. Best
, A life insurance company has transferred some of its risk to another insurer.
The insurer assuming the risk is called the - ANSWERreinsurer
An insurer's ability to make unpredictable payouts to policyowners is called -
ANSWERliquidity
What kind of life insurance policy issued by a mutual insurer provides a
return of divisible surplus? - ANSWERparticipating life insurance policy
Fraternal Benefit Society has each of the following characteristics EXCEPT -
ANSWERExist for profit
The Fair Credit and Reporting Act's main purpose is to - ANSWERprotect
consumers with guidelines regarding credit reporting and distribution
What is the primary purpose of a rating service company such as A.M Best? -
ANSWERDetermine financial strength of an insurance company
A nonparticipating company is sometimes called a(n) - ANSWERstock insurer
Why are dividends from a mutual insurer not subject to taxation? -
ANSWERBecause dividends are considered to be a return of premium
Mutual Insurer - ANSWERAn insurer that is owned by its policyholders and
formed as a corporation for the purpose of providing insurance to them.
Policyholder - ANSWERA person who buys an insurance plan; the insured,
subscriber, or guarantor.
All of the following are examples of pure risk EXCEPT - ANSWERThe correct
ANSWER is, "Losing money at a casino". Pure risk is a category of risk in which
loss is the only possible outcome, which is the opposite of speculative risk.
Gambling is considered a speculative risk where there is a chance of either
gain or loss.
How do insurers predict the increase of individual risks? - ANSWERLaw of
large numbers
What is known as the immediate specific event causing loss and giving rise to
risk? - ANSWERPeril
Series 11-45 practice exam questions
and answers 2026
A type of insurer that is owned by its policyowners is called - ANSWERMutual
ABC Insurance Company transfers part of their risk to XYZ Insurance
Company. This situation is called - ANSWERReinsurance
A nonparticipating policy will - ANSWERnot pay dividends
A(n) ______ company is owned by its shareholders. - ANSWERstock
Karen is a producer who has obtained personal information about a client
without having a legitimate reason to do so. Under the McCarran-Ferguson
Act, what is the minimum penalty for this? - ANSWERA fine of $10,000 or up
to one year in jail is the penalty for any person who obtains information
about a client without having a legitimate reason to receive it.
Ken is a producer who has obtained Consumer Information Reports under
false pretenses. Under the Fair Credit Reporting Act, what is the maximum
penalty that may be imposed on Ken? - ANSWERUnder the Fair Credit
Reporting Act, the maximum penalty for a producer who obtains Consumer
Information Reports under false pretenses is $5,000 and 1 year
imprisonment.
The Do Not Call Registry offers exemptions for calls placed from all of the
following EXCEPT - ANSWERinsurance sales calls.
A plan in which an employer pays insurance benefits from a fund derived
from the employer's current revenues is called - ANSWERA self-funded plan
An insurer's claim settlement practices are regulated by the - ANSWERState
insurance departments
Which of the following is NOT considered advertising? - ANSWERA rating
from a rating service company, such as A.M. Best
, A life insurance company has transferred some of its risk to another insurer.
The insurer assuming the risk is called the - ANSWERreinsurer
An insurer's ability to make unpredictable payouts to policyowners is called -
ANSWERliquidity
What kind of life insurance policy issued by a mutual insurer provides a
return of divisible surplus? - ANSWERparticipating life insurance policy
Fraternal Benefit Society has each of the following characteristics EXCEPT -
ANSWERExist for profit
The Fair Credit and Reporting Act's main purpose is to - ANSWERprotect
consumers with guidelines regarding credit reporting and distribution
What is the primary purpose of a rating service company such as A.M Best? -
ANSWERDetermine financial strength of an insurance company
A nonparticipating company is sometimes called a(n) - ANSWERstock insurer
Why are dividends from a mutual insurer not subject to taxation? -
ANSWERBecause dividends are considered to be a return of premium
Mutual Insurer - ANSWERAn insurer that is owned by its policyholders and
formed as a corporation for the purpose of providing insurance to them.
Policyholder - ANSWERA person who buys an insurance plan; the insured,
subscriber, or guarantor.
All of the following are examples of pure risk EXCEPT - ANSWERThe correct
ANSWER is, "Losing money at a casino". Pure risk is a category of risk in which
loss is the only possible outcome, which is the opposite of speculative risk.
Gambling is considered a speculative risk where there is a chance of either
gain or loss.
How do insurers predict the increase of individual risks? - ANSWERLaw of
large numbers
What is known as the immediate specific event causing loss and giving rise to
risk? - ANSWERPeril
