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Ohio Department of Insurance OH-Life-Agent-Series-11-44 Exam Syllabus Topics:

SectionWeightObjectives
Policy Provisions, Options & Riders22%- Common policy riders
- Beneficiary designations
- Standard policy provisions
- Nonforfeiture and settlement options
- Dividends, loans and withdrawals
Types of Life Insurance Policies12%- Group and credit life insurance
- Whole life and permanent life
- Universal and indexed universal life
- Term life insurance
General Insurance Concepts12%- Agent authority and responsibilities
- Types of insurers and market conduct
- Risk management and insurable interest
- Elements of insurance contracts
Federal Tax Considerations12%- Tax treatment of annuities
- Taxation of life insurance proceeds
- 1035 Exchanges and rollovers
- Modified Endowment Contracts (MECs)
Life Insurance Basics18%- Personal and business uses of life insurance
- Underwriting and policy issue
- Viatical settlements and specialized plans
- Determining coverage amounts
Insurance Regulation12%- Resident and non-resident rules
- Disciplinary actions and penalties
- Licensing requirements and maintenance
- State and federal insurance laws
- Continuing education requirements
Annuities12%- Fixed and specialty annuities
- Payment options and uses
- Immediate vs deferred annuities
- Annuity principles and types

Ohio Department of Insurance OHIO Life Insurance Agent Series 11-44 Sample Questions:

1. Which of the following dividend options is taxable?

A) 1-year term.
B) Accumulation at interest.
C) Paid up additions.
D) Return of premium.


2. 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) 401(k)
B) SIMPLE IRA
C) SEP IRA
D) IRA


3. Survivorship life insurance policies are useful in estate planning because they

A) accumulate a sum of money for retirement.
B) redistribute the premium obligation during the early years of the policy.
C) provide funeral insurance and pre-need burial insurance.
D) can provide money to pay taxes on assets.


4. 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

A) must be awarded to Joe's estate.
B) will accumulate with interest until another brother dies and then be awarded to the surviving brother.
C) must be shared equally by Rob and Joe's wife.
D) will not provide further insurance protection.


5. Without written consent, a policyowner CANNOT change the beneficiary If he has named

A) a permanent beneficiary.
B) a revocable beneficiary.
C) an irrevocable beneficiary.
D) a contingent beneficiary.


Solutions:

Question # 1
Answer: B
Question # 2
Answer: D
Question # 3
Answer: D
Question # 4
Answer: D
Question # 5
Answer: C

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