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Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Life Insurance Basics | 18% | - Underwriting and policy issue - Viatical settlements and specialized plans - Determining coverage amounts - Personal and business uses of life insurance |
| Annuities | 12% | - Immediate vs deferred annuities - Payment options and uses - Annuity principles and types - Fixed and specialty annuities |
| General Insurance Concepts | 12% | - Types of insurers and market conduct - Agent authority and responsibilities - Risk management and insurable interest - Elements of insurance contracts |
| Types of Life Insurance Policies | 12% | - Term life insurance - Universal and indexed universal life - Whole life and permanent life - Group and credit life insurance |
| Insurance Regulation | 12% | - Disciplinary actions and penalties - Continuing education requirements - Licensing requirements and maintenance - State and federal insurance laws - Resident and non-resident rules |
| Policy Provisions, Options & Riders | 22% | - Common policy riders - Standard policy provisions - Nonforfeiture and settlement options - Dividends, loans and withdrawals - Beneficiary designations |
| Federal Tax Considerations | 12% | - Taxation of life insurance proceeds - Modified Endowment Contracts (MECs) - Tax treatment of annuities - 1035 Exchanges and rollovers |
Ohio Department of Insurance OHIO Life Insurance Agent Series 11-44 Sample Questions:
1. All the following policies qualify for a 1035 Exchange EXCEPT
A) an annuity to another annuity.
B) an annuity to a whole life policy.
C) a whole life policy to another whole life policy.
D) a whole life policy to an annuity.
2. 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) policyowner.
B) Insured's next of kin.
C) beneficiary's estate.
D) insured's estate.
3. Which of the following dividend options is taxable?
A) Accumulation at interest.
B) Paid up additions.
C) 1-year term.
D) Return of premium.
4. If an Insured under a life insurance policy dies with an outstanding loan balance then the death benefit
will
A) be reduced by the amount of the loan and interest owed.
B) be paid less the amount of the loan but not the interest.
C) not be paid until the loan is repaid.
D) be paid less the amount of the loan interest but not the principal.
5. 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) depletes its loss reserves.
B) cannot meet it's capital surplus requirements.
C) merges with a foreign insurer.
D) becomes financially insolvent.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: B | Question # 5 Answer: D |
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