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Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Insurance Regulation | 12% | - Continuing education requirements - State and federal insurance laws - Licensing requirements and maintenance - Disciplinary actions and penalties - Resident and non-resident rules |
| Types of Life Insurance Policies | 12% | - Universal and indexed universal life - Whole life and permanent life - Term life insurance - Group and credit life insurance |
| Life Insurance Basics | 18% | - Personal and business uses of life insurance - Underwriting and policy issue - Determining coverage amounts - Viatical settlements and specialized plans |
| General Insurance Concepts | 12% | - Elements of insurance contracts - Types of insurers and market conduct - Agent authority and responsibilities - Risk management and insurable interest |
| Annuities | 12% | - Payment options and uses - Annuity principles and types - Fixed and specialty annuities - Immediate vs deferred annuities |
| Policy Provisions, Options & Riders | 22% | - Standard policy provisions - Nonforfeiture and settlement options - Dividends, loans and withdrawals - Common policy riders - Beneficiary designations |
| Federal Tax Considerations | 12% | - Modified Endowment Contracts (MECs) - Taxation of life insurance proceeds - 1035 Exchanges and rollovers - Tax treatment of annuities |
Ohio Department of Insurance OHIO Life Insurance Agent Series 11-44 Sample Questions:
1. Which activity does NOT require an Insurance agent's license?
A) underwriting
B) selling
C) negotiating
D) soliciting
2. In reference to life Insurance in contract law, a person MOST likely will have an insurable interest in insuring
a person's life If
A) the interest exists at the time of death.
B) any type of business relationship exists between the insured party and the beneficiary.
C) any type of distant family relationship exists with the insured party.
D) the interest exists at the time of application.
3. Which of the following retirementplans will allow for a nonworking spouse to set up a separate account and
make contributions based on the working spouse's Income?
A) SEP IRA
B) 401(k)
C) SIMPLE IRA
D) IRA
4. What type of insurance is the cheapest option to pay off a 30-year mortgage balance?
A) Variable life insurance.
B) Decreasing term insurance.
C) Level term insurance.
D) Increasing term insurance.
5. Which of the following plans will provide a death benefit to the policy's beneficiary Income tax free?
A) Annuity.
B) Qualified Retirement.
C) Whole Life.
D) Tax Sheltered Annuity.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: C |
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