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Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Policy Provisions, Options & Riders | 22% | - Nonforfeiture and settlement options - Beneficiary designations - Dividends, loans and withdrawals - Common policy riders - Standard policy provisions |
| Federal Tax Considerations | 12% | - Modified Endowment Contracts (MECs) - Taxation of life insurance proceeds - 1035 Exchanges and rollovers - Tax treatment of annuities |
| Annuities | 12% | - Fixed and specialty annuities - Annuity principles and types - Immediate vs deferred annuities - Payment options and uses |
| Insurance Regulation | 12% | - Continuing education requirements - Resident and non-resident rules - Licensing requirements and maintenance - Disciplinary actions and penalties - State and federal insurance laws |
| Life Insurance Basics | 18% | - Personal and business uses of life insurance - Viatical settlements and specialized plans - Underwriting and policy issue - Determining coverage amounts |
| Types of Life Insurance Policies | 12% | - Whole life and permanent life - Universal and indexed universal life - Term life insurance - Group and credit life insurance |
| General Insurance Concepts | 12% | - Elements of insurance contracts - Types of insurers and market conduct - Agent authority and responsibilities - Risk management and insurable interest |
Ohio Department of Insurance OHIO Life Insurance Agent Series 11-44 Sample Questions:
1. Making a statement that is false and maliciously critical of the financial condition of an insurer is known as
A) intimidation.
B) coercion.
C) defamation.
D) misrepresentation.
2. Insurers do business in Ohio only after a thorough financial review. Most insurance policies written in Ohio
are protected by the Guaranty Association established to protect policy owners In the event an admitted
company
A) becomes financially insolvent.
B) cannot meet it's capital surplus requirements.
C) depletes its loss reserves.
D) merges with a foreign insurer.
3. 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) family income rider.
B) guaranteed insurability rider.
C) famitp maintenance rider.
D) child term rider.
4. All of the following statements apply to the surrender of an annuity contract EXCEPT
A) the right to surrender Is available on immediate and deferred annuities.
B) surrender charges will reduce the contract payout amount.
C) surrender charges diminish over a stated number of years and will eventually disappear.
D) the owner has the right to surrender the contract during the accumulation period.
5. Survivorship life insurance policies are useful in estate planning because they
A) redistribute the premium obligation during the early years of the policy.
B) accumulate a sum of money for retirement.
C) provide funeral insurance and pre-need burial insurance.
D) can provide money to pay taxes on assets.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: D |
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