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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
In which of the following dividend options would an Insurer invest the policyowners money and add interest earnings to the Initial amount of the dividends as such earnings accrue?
Upon the divorce of an insured who designated their spouse as the beneficiary, which of the following actions will result?
Deliberate withholding of material facts that would affect the validity of an Insurance policy or a claim under the policy Is known as
Kelvin is receiving tax deferred growth until retirement. In what phase would Kelvin's annuity be?
An applicant would be charged a higher premium for a life Insurance policy if they were
A policyowner may choose to have his/her life insurance policy dividends do all of the following EXCEPT
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
Which Is the name of the policy that combines a universal life policy with investment choices?
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?
A modified endowment contract (MEC) receives different tax treatment on pre-death distributions than other life Insurance policies because the modified endowment policy
As a form of level premium permanent Insurance, ordinary life Insurance accumulates a reserve that eventually
The proposed insured's statements on a life insurance application are considered to be
Competency of an Individual to enter into an Insurance contract is determined based on
In Ohio, an agent must be appointed by the Insurer within how many days from the date the agency contract Is executed, or the first Insurance application Is submitted?
The period after an annuity Is purchased but before distributions begin Is referred to as the
After a request has been received for verification of coverage from a viatical settlement provider, an insurance company authorized to do business shall respond within:
While texting and driving, an Insured loses control of the vehicle and hits a tree. The resulting collision Is
Which nonforfeiture option allows the policyowner to purchase less coverage for life?
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?
TESTED 16 Jun 2025