[Jan 20, 2024] Genuine OH-Life-Agent-Series-11-44 Exam Dumps New 2024 Ohio Department of Insurance Pratice Exam
New 2024 Realistic OH-Life-Agent-Series-11-44 Dumps Test Engine Exam Questions in here
NEW QUESTION # 26
Loans may generally be obtained against the cash value of a personal life Insurance policy and policy loan
proceeds
- A. are subject to Federal estate tax.
- B. are not treated as taxable income.
- C. accelerate the benefits under the policy.
- D. generate nontaxable interest income.
Answer: B
NEW QUESTION # 27
Contributions made to a Roth IRA are
- A. only tax deductible at age 50 or older.
- B. tax deductible at retirement.
- C. partially tax deductible.
- D. not tax deductible.
Answer: D
NEW QUESTION # 28
An applicant would be charged a higher premium for a life Insurance policy if they were
- A. younger.
- B. married.
- C. older.
- D. deaf.
Answer: C
NEW QUESTION # 29
Under an executive bonus plan, premiums paid by the employer are
- A. reported as taxable income to the employee.
- B. tax deductible to both the employee and employer.
- C. reported as taxable Income to the employer.
- D. only tax deductible when the bonus is an insurance plan.
Answer: A
NEW QUESTION # 30
A policyowner may not pay premiums with which frequency?
- A. Monthly
- B. Bi-weekly
- C. Quarterly
- D. Semi-annually
Answer: B
NEW QUESTION # 31
An insured owns a whole life insurance policy on himself. He would also like coverage for his minor son
and/or daughter. One way the Insured can accomplish this goal Is to purchase a
- A. famitp maintenance rider.
- B. child term rider.
- C. family income rider.
- D. guaranteed insurability rider.
Answer: A
NEW QUESTION # 32
The accumulated cash value of a whole life insurance policy becomes the
- A. funds used to offset policy administration and conversion expenses.
- B. amount used to purchase paid up additions to the insured's policy.
- C. policy loan value upon which the insured may borrow.
- D. face amount payable upon the insured's death.
Answer: C
NEW QUESTION # 33
Falsifying the terms, benefits, advantages, or conditions of an insurance policy Is an example of which of the
following?
- A. Concealment
- B. Coercion
- C. Misrepresentation
- D. Forgery
Answer: C
NEW QUESTION # 34
The most common use of a group life insurance policy is to insure
- A. company employees.
- B. retirees.
- C. members of a family.
- D. association members.
Answer: A
NEW QUESTION # 35
The settlement option that allows proceeds to remain with the Insurer and the earnings to be paid to the
beneficiary on a monthly basis is called
- A. fixed amount.
- B. interest only.
- C. fixed period.
- D. lump sum.
Answer: B
NEW QUESTION # 36
What annuity payout option has no additional payouts regardless of when the annuitant dies?
- A. Life certain.
- B. Life only.
- C. Cash refund.
- D. Installment refund.
Answer: B
NEW QUESTION # 37
An Individual buys an annuity that will pay her spouse an income for 20 years. If the spouse dies within that
time, the Income will be paid to their children for the remainder of the period. What kind of annuity did the
Insured buy?
- A. Joint life and survivorship annuity
- B. Temporary annuity certain
- C. Joint life annuity
- D. Life annuity with period certain
Answer: B
NEW QUESTION # 38
At what age can an Individual begin to receive distributions from an IRA without a tax penalty?
- A. 59 1/2 years.
- B. 55 1/2 years.
- C. 63 1/2 years.
- D. 65 1/2 years.
Answer: A
NEW QUESTION # 39
The only beneficiary named in a life insurance policy died before the Insured. The policyowner did not name a
new beneficiary. When a claim is filed, the death benefit would be paid to the
- A. insured's estate.
- B. policyowner.
- C. beneficiary's estate.
- D. Insured's next of kin.
Answer: A
NEW QUESTION # 40
An annuitant dies during the accumulation period. What happens to the cash value in the annuity?
- A. The company keeps the cash value.
- B. The cash value is paid to the beneficiary.
- C. The cash value is paid into the estate.
- D. The cash value is paid to the IRS.
Answer: C
NEW QUESTION # 41
Kelvin is receiving tax deferred growth until retirement. In what phase would Kelvin's annuity be?
- A. Accumulation period.
- B. Annuity period.
- C. Payout period.
- D. Nonforfeiture period.
Answer: A
NEW QUESTION # 42
Which of the following retirementplans will allow for a nonworking spouse to set up a separate account and
make contributions based on the working spouse's Income?
- A. SEP IRA
- B. IRA
- C. SIMPLE IRA
- D. 401(k)
Answer: B
NEW QUESTION # 43
Which Is the name of the policy that combines a universal life policy with investment choices?
- A. Variable universal life policy.
- B. Flexible universal life policy.
- C. Straight universal life policy.
- D. Interest-sensitive universal life policy.
Answer: A
NEW QUESTION # 44
A policyowner may choose to have his/her life insurance policy dividends do all of the following EXCEPT
- A. accumulate without interest.
- B. purchase additional insurance protection.
- C. be paid to the policyowner in cash.
- D. reduce the policy premium.
Answer: A
NEW QUESTION # 45
Something that increases the probability of loss is called
- A. an exposure.
- B. a peril.
- C. a hazard.
- D. a risk.
Answer: C
NEW QUESTION # 46
Who can surrender an annuity during the accumulation period?
- A. The policyowner.
- B. The company.
- C. The beneficiary.
- D. The annuitant.
Answer: A
NEW QUESTION # 47
All of the following statements regarding a group annuity are correct, EXCEPT
- A. considered a defined-benefit plan.
- B. purchased as part of a structured corporate pension plan.
- C. each employee signs and receives an individual contract.
- D. participation is limited to eligible employees.
Answer: D
NEW QUESTION # 48
To avoid tax consequences, a rollover from a Traditional IRA to another IRA MUST be done within
- A. 90 days.
- B. 60 days.
- C. 30 days.
- D. 45 days.
Answer: B
NEW QUESTION # 49
Under what circumstances must an agent provide his or her business records to the superintendent of
Insurance?
- A. by authorization from the National Association of Insurance Commissioners (NAIC)
- B. under no circumstances due to privacy consideration
- C. upon request of an insured
- D. upon request of the superintendent
Answer: D
NEW QUESTION # 50
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