Under what circumstances must an agent provide his or her business records to the superintendent of Insurance?
Competency of an Individual to enter into an Insurance contract is determined based on
When a beneficiary Inherits a traditional IRA, which of the following Is TRUE about taxation when the money is withdrawn? The beneficiary pays
An insured has a 5-year Renewable Term Life Insurance Policy. Upon exercising the renewable privilege, the Insured MUST
Under Ohio insurance laws, what must a licensee do prior to operating under an assumed business name?
Something that increases the probability of loss is called
Which Is the name of the policy that combines a universal life policy with investment choices?
Deliberate withholding of material facts that would affect the validity of an Insurance policy or a claim under the policy Is known as
An accelerated death benefit
Reinsurers are a specialized branch of the insurance industry because they
The accumulated cash value of a whole life insurance policy becomes the
Which of the following is TRUE of a payor benefit rider?
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
Under an executive bonus plan, premiums paid by the employer are
The purpose of insurance Is to
Extended term Insurance can be selected under which whole life policy provision?
An Insured owns a whole life policy that has accumulated cash value. Which of the following statements Is true about the policy's cash value?
If an Insured under a life insurance policy dies with an outstanding loan balance then the death benefit
will
To receive proceeds from a death benefit, a minor
An agent qualified to sell variable products in Ohio must report each of the following to the superintendent of Insurance EXCEPT
Which of the following is a characteristic of a contract of adhesion?
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
What law do all Insurers and their agents need to comply with In regards to Information being obtained from a third party concerning the applicant?
Statements by an applicant concerning personal health history, family health history, occupation, and hobbies are referred to as
Interest earned on a Traditional IRA is taxed
Which rider would allow additional insurance to be purchased at specified dates or events, without additional underwriting?
An agent's underwriting duties Include which of the following?
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?
Generally, rates charged for Insurance may NOT be
What does a limited payment whole life policy provide?
Kelvin is receiving tax deferred growth until retirement. In what phase would Kelvin's annuity be?
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