Ohio Life Agent Series 11 44 Exam Version 1
Practice exam for Salesperson and Broker License Exam under Real Estate Exams (Licensing Exams). 5 sample questions.
Sample Questions
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Question 1
Many Universal Life Policies will permit a partial surrender of cash value. The surrender amount would
Correct Answer: B
Rationale: A partial surrender in universal life insurance is a withdrawal of cash value that does not require repayment, reducing the cash value and potentially the death benefit. A typically decreases the face amount. C decreases the cash value. D applies to policy loans, not surrenders.
Rationale: A partial surrender in universal life insurance is a withdrawal of cash value that does not require repayment, reducing the cash value and potentially the death benefit. A typically decreases the face amount. C decreases the cash value. D applies to policy loans, not surrenders.
Question 2
Which of the following represents a reduced paid-up nonforfeiture option?
Correct Answer: D
Rationale: The reduced paid-up option provides a lower face amount of insurance that is fully paid up, requiring no further premiums. A is incorrect as no further premiums are needed. B is incorrect as the face amount decreases. C is incorrect as expense loading is not a defining feature.
Rationale: The reduced paid-up option provides a lower face amount of insurance that is fully paid up, requiring no further premiums. A is incorrect as no further premiums are needed. B is incorrect as the face amount decreases. C is incorrect as expense loading is not a defining feature.
Question 3
Which rider allows the policyowner to increase the face amount to adjust for inflation?
Correct Answer: B
Rationale: The cost of living rider adjusts the face amount based on inflation, typically tied to the Consumer Price Index. A waives premiums for juvenile policies. C allows future increases without insurability proof, not tied to inflation. D refunds premiums, not adjusting face amount.
Rationale: The cost of living rider adjusts the face amount based on inflation, typically tied to the Consumer Price Index. A waives premiums for juvenile policies. C allows future increases without insurability proof, not tied to inflation. D refunds premiums, not adjusting face amount.
Question 4
Which of the following methods could eliminate the risk of having a sky diving accident?
Correct Answer: A
Rationale: Risk avoidance eliminates exposure by not engaging in skydiving. B is a preference, not a method. C and D reduce risk but do not eliminate it, as they involve mitigation while still participating.
Rationale: Risk avoidance eliminates exposure by not engaging in skydiving. B is a preference, not a method. C and D reduce risk but do not eliminate it, as they involve mitigation while still participating.
Question 5
An annuity where the policyowner chooses a pre-determined number of benefit payments is referred to as
Correct Answer: B
Rationale: A period certain annuity guarantees payments for a specific number of periods, regardless of the annuitant’s survival. A returns premiums if the annuitant dies early. C is not a standard term. D provides payments for the annuitant’s lifetime, not a fixed number.
Rationale: A period certain annuity guarantees payments for a specific number of periods, regardless of the annuitant’s survival. A returns premiums if the annuitant dies early. C is not a standard term. D provides payments for the annuitant’s lifetime, not a fixed number.