Ohio Life Insurance Exam Questions and
Verified Answers, 100% Guarantee Pass
(Latest 2025)
To qualify for appointment of agent - Correct Answers ✅18
YOA, US citizenship not required, no minimum residency
Original certificate good for.... - Correct Answers ✅180
days
Renewal for license - Correct Answers ✅beinnially on birth
month, $5 fee
Types of risk - Correct Answers ✅Pure risk - covered by
insurance
Speculative risk - not covered (gambling)
How to handle risk - Correct Answers ✅avoid it
retain it - self insurance
reduce it
share it
transfer it - buy insurance, spreads risk to large group
Mortality Rate - Correct Answers ✅based on "law of large
numbers"
by age 100 we assume everyone dies
females live longer
, Ohio Life Insurance Exam Questions and
Verified Answers, 100% Guarantee Pass
(Latest 2025)
Principal - Correct Answers ✅The insurance company
The agent represents the principal
Implied Authority - Correct Answers ✅Needed to do job
Not written in contract
Expressed Authority - Correct Answers ✅written out
authority
ex. collecting premiums...
Apparent Authority - Correct Answers ✅actions seem to be
those of principal
ex. business cards, applications....
Change of name and address - Correct Answers ✅30 days
to be reported
Fiduciary - Correct Answers ✅financial trust
timely manner
agents cannot comingle
Verified Answers, 100% Guarantee Pass
(Latest 2025)
To qualify for appointment of agent - Correct Answers ✅18
YOA, US citizenship not required, no minimum residency
Original certificate good for.... - Correct Answers ✅180
days
Renewal for license - Correct Answers ✅beinnially on birth
month, $5 fee
Types of risk - Correct Answers ✅Pure risk - covered by
insurance
Speculative risk - not covered (gambling)
How to handle risk - Correct Answers ✅avoid it
retain it - self insurance
reduce it
share it
transfer it - buy insurance, spreads risk to large group
Mortality Rate - Correct Answers ✅based on "law of large
numbers"
by age 100 we assume everyone dies
females live longer
, Ohio Life Insurance Exam Questions and
Verified Answers, 100% Guarantee Pass
(Latest 2025)
Principal - Correct Answers ✅The insurance company
The agent represents the principal
Implied Authority - Correct Answers ✅Needed to do job
Not written in contract
Expressed Authority - Correct Answers ✅written out
authority
ex. collecting premiums...
Apparent Authority - Correct Answers ✅actions seem to be
those of principal
ex. business cards, applications....
Change of name and address - Correct Answers ✅30 days
to be reported
Fiduciary - Correct Answers ✅financial trust
timely manner
agents cannot comingle
