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Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Syllabus Topics:

SectionWeightObjectives
Types of Life Insurance Policies12%- Group and credit life insurance
- Whole life and permanent life
- Universal and indexed universal life
- Term life insurance
General Insurance Concepts12%- Agent authority and responsibilities
- Risk management and insurable interest
- Elements of insurance contracts
- Types of insurers and market conduct
Policy Provisions, Options & Riders22%- Nonforfeiture and settlement options
- Beneficiary designations
- Standard policy provisions
- Dividends, loans and withdrawals
- Common policy riders
Federal Tax Considerations12%- Taxation of life insurance proceeds
- Modified Endowment Contracts (MECs)
- Tax treatment of annuities
- 1035 Exchanges and rollovers
Insurance Regulation12%- Resident and non-resident rules
- State and federal insurance laws
- Continuing education requirements
- Disciplinary actions and penalties
- Licensing requirements and maintenance
Annuities12%- Immediate vs deferred annuities
- Annuity principles and types
- Payment options and uses
- Fixed and specialty annuities
Life Insurance Basics18%- Personal and business uses of life insurance
- Viatical settlements and specialized plans
- Underwriting and policy issue
- Determining coverage amounts

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

1. Without written consent, a policyowner CANNOT change the beneficiary If he has named

A) a revocable beneficiary.
B) a contingent beneficiary.
C) a permanent beneficiary.
D) an irrevocable beneficiary.


2. An insured has chosen to receive the payout from her husband's life insurance policy so that she will receive
an Income for the next 10 years. At the end of that time, the entire proceeds from the policy will have been
paid out. The insured has selected which option?

A) Interest only.
B) Life income.
C) Fixed amount.
D) Fixed period.


3. Making a statement that is false and maliciously critical of the financial condition of an insurer is known as

A) defamation.
B) misrepresentation.
C) coercion.
D) intimidation.


4. An insured wants to purchase a policy with three key elements: flexible premium, death benefit, and the choice
of mutual funds where the cash value will be Invested In a separate account. The Insured should purchase

A) universal life.
B) graded premium whole life.
C) variable universal life.
D) adjustable life.


5. Each of the following are characteristics of a fixed annuity contract EXCEPT

A) funds are Invested in a separate account.
B) it may be sold as an immediate or deferred annuity.
C) benefit payments remain level.
D) the minimum interest rate is guaranteed in the contract.


Solutions:

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

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