Ohio Life insurance Exam Questions and Answers Latest 2024

A life insurance company has transferred some of its risk to another insurer. The insurer assuming the risk is called - CORRECT ANSWERall of the following are examples of business continuity plan except - CORRECT ANSWER-Deferred Compensation 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 - CORRECT ANSWER-A non forfeiture option can be used to increase the death benefit the superintendent determines an examination of an insurers books and record is necessary. After receiving the notification, the insurer - CORRECT ANSWER-must not impede the examination the double indemnity prevision in a life insurance policy pertains to an insureds death caused by a(n) - CORRECT ANSWER-accident Which of these is not considered to be a risk factor in life insurance underwriting - CORRECT ANSWER-number of children the suicide clause of a life insurance policy states that if an insured commits suicide within the stated period from the policy inception the insurer will only be liable fora return of premiums paid - CORRECT ANSWER-minus indebtedness and without interest A minor may receive a life inurance polciys death benefit only - CORRECT ANSWER-if the minor has