Question 1

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

Options :

A : Grace period

B : Beneficiary

C : Average age

D : Dependents

Answer: C

Question 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

Options :

A : will not provide further insurance protection.

B : must be shared equally by Rob and Joe-s wife.

C : will accumulate with interest until another brother dies and then be awarded to the surviving brother.

D : must be awarded to Joe-s estate.

Answer: A

Question 3

Loans may generally be obtained against the cash value of a personal life Insurance policy and policy loan proceeds

Options :

A : accelerate the benefits under the policy.

B : are not treated as taxable income.

C : are subject to Federal estate tax.

D : generate nontaxable interest income.

Answer: B

Question 4

The proposed insured's statements on a life insurance application are considered to be

Options :

A : absolute statements.

B : misrepresentations.

C : representations

D : warranties

Answer: C

Question 5

Insurance agents have duties and responsibilities to the insured and the insurer. Which of the following responsibilities does an agent owe the insured during the policy year?

Options :

A : Help the insured file and follow up on claims.

B : Notify the insurance department when claims are paid.

C : Work with rating bureaus to establish insurer ratings.

D : Pay the insured-s premiums if they are unable to do so.

Answer: A

Free OH-Life-Agent-Series-11-44 Mock Exam – Practice Online Confidently

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