OH-Life-Agent-Series-11-44 Leak Questions

OHIO Life Insurance Agent Series 11-44 Questions and Answers

Question 17

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?

The policy's cash value is viewed as investment growth and therefore subject to taxation for each calendar year.

The growth of the policy's cash value Is not subject to income tax while the policy Is in force.

It is subject to fluctuations of the company's overall performance.

The cash value is not guaranteed.

Question 18

If an Insured under a life insurance policy dies with an outstanding loan balance then the death benefit

will

be reduced by the amount of the loan and interest owed.

not be paid until the loan is repaid.

be paid less the amount of the loan but not the interest.

be paid less the amount of the loan interest but not the principal.

Question 19

To receive proceeds from a death benefit, a minor

must be related to the insured.

can only be named as a contingent beneficiary.

must be at least 16 years old.

must have an appointed guardian.

Question 20

An agent qualified to sell variable products in Ohio must report each of the following to the superintendent of Insurance EXCEPT

a suspension from the National Association of Securities Dealers.

the revocation of an insurance license held in another state.

the sharing of commissions with another qualified agent.

a felony criminal conviction.