Free Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Dumps Questions & Answers

Which of the following represents a syndicate of underwriters that specialize in Insuring specific types of risk?

• A.Lloyd's association
• B.risk retention group
• C.reciprocal insurer
• D.fraternal benefit society

Bettie has a $200,000 whole life policy with a $50,000 cash value. She wishes to borrow $30,000 for the
purchase of a new van. Which of the following Is TRUE In this situation?

• A.There is no requirement that she pay back the loan.
• B.This type of loan is interest free.
• C.Loans can only be taken for hardship situations.
• D.Whole life policies do not have any loan provisions.

Under Ohio insurance laws, what must a licensee do prior to operating under an assumed business name?

• A.notify the superintendent
• B.notify the National Association of Insurance Commissioners
• C.obtain approval from the insurer
• D.notify all prospective insureds

Which Is the name of the policy that combines a universal life policy with investment choices?

• A.Variable universal life policy.
• B.Straight universal life policy.
• C.Flexible universal life policy.
• D.Interest-sensitive universal life policy.

In reference to life Insurance in contract law, a person MOST likely will have an insurable interest in insuring
a person's life If

• A.the interest exists at the time of application.
• B.any type of distant family relationship exists with the insured party.
• C.the interest exists at the time of death.
• D.any type of business relationship exists between the insured party and the beneficiary.