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Ohio Department of Insurance OHIO Life Insurance Agent Series 11-44 Sample Questions:

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


2. Rob, Joe, and Mike are brothers who have a $60,000 "first-to-die" Joint life policy covering all three of their
lives. If Joe dies first, the policy proceeds

A) will not provide further insurance protection.
B) will accumulate with interest until another brother dies and then be awarded to the surviving brother.
C) must be awarded to Joe's estate.
D) must be shared equally by Rob and Joe's wife.


3. Who can surrender an annuity during the accumulation period?

A) The company.
B) The beneficiary.
C) The annuitant.
D) The policyowner.


4. An Insurer would consider which of the following In determining whether to accept a group life plan?

A) Beneficiary
B) Dependents
C) Average age
D) Grace period


5. Which of the following statements BEST describes a single premium cash value policy?

A) It waives one future premium if the owner becomes disabled.
B) It requires the policyowner to pay one premium annually.
C) It requires only one payment to make the policy paid up.
D) It provides for only one premium to be paid without evidence of insurability.


Solutions:

Question # 1
Answer: C
Question # 2
Answer: A
Question # 3
Answer: D
Question # 4
Answer: C
Question # 5
Answer: C

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