Ohio Life Insurance Practice Questions
12 sample questions written from the Ohio exam outline, with answers and explanations. The first two are open. Enter your email to see the other ten.
Ohio's Life exam (Series 11-44) has 100 questions in 2 hours. Life and Accident & Health together (Series 11-35) has 150 questions in 2.5 hours. You need 70% to pass. How to get the Ohio Life license →
Try two questions
1. Under a life policy's delay provision, an insurer may postpone paying a cash surrender value or making a policy loan (other than a loan to pay premiums) for up to:
- A. Six months
- B. 31 days
- C. Five years
- D. Two years
Show answer
Answer: A. Six months
The standard nonforfeiture law lets an insurer delay paying cash values or policy loans for up to six months. Loans used to pay premiums cannot be delayed this way.
2. A life insurance policy is a contract of adhesion. Because of this, when a policy term is unclear, a court will generally:
- A. Void the entire policy
- B. Interpret it in favor of the policyowner
- C. Ask the agent to decide what the term means
- D. Interpret it in favor of the insurer
Show answer
Answer: B. Interpret it in favor of the policyowner
The insurer wrote the contract and the buyer could not negotiate it. So courts resolve unclear wording against the insurer.
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3. Which cost comparison index helps a buyer compare what policies would cost if they are cashed in at a future point, such as after 10 or 20 years?
- A. Consumer price index
- B. Loss ratio
- C. Surrender cost index
- D. Net payment cost index
Answer: C. Surrender cost index
The surrender cost index compares cost assuming the policy is surrendered for its cash value. The net payment cost index compares cost assuming the policy is kept in force.
4. Grace names her husband as primary beneficiary, her son as contingent beneficiary and her niece as a third-level beneficiary. The niece is called a:
- A. Irrevocable beneficiary
- B. Class beneficiary
- C. Revocable beneficiary
- D. Tertiary beneficiary
Answer: D. Tertiary beneficiary
A tertiary beneficiary receives the proceeds only if both the primary and contingent beneficiaries die before the insured.
5. A man and a woman of the same age and health apply for the same individual life policy. Because women live longer on average, the woman will generally pay:
- A. A premium set by the agent's judgment
- B. A lower premium
- C. The same premium, because federal law bans gender-based rates
- D. A higher premium
Answer: B. A lower premium
Mortality tables show women live longer than men, so insurers generally charge women less for individual life insurance.
6. An insurer sends a nurse to an applicant's home to record height, weight and blood pressure and to collect a blood sample. This is called a:
- A. Attending physician statement
- B. Inspection report
- C. Paramedical exam
- D. Medical Information Bureau report
Answer: C. Paramedical exam
A paramedical exam is done by a nurse or trained technician instead of a doctor. It is common for applicants who need some medical underwriting.
7. Sara's policy loan, plus the unpaid interest on it, grows until it equals her policy's cash value. What happens?
- A. The death benefit increases to cover the loan
- B. The insurer forgives the loan and coverage continues
- C. The loan turns into a separate term policy
- D. The policy ends after the insurer mails the required notice
Answer: D. The policy ends after the insurer mails the required notice
When the loan balance reaches the cash value, nothing is left to secure it. The insurer can end the policy after giving written notice.
8. Under a typical accidental death benefit rider, the extra benefit is paid only if the insured dies within how long after the accident?
- A. 90 days
- B. Five years
- C. 24 hours
- D. 10 days
Answer: A. 90 days
Most accidental death riders require death within about 90 days of the accident so the death can be linked to it.
9. Instead of mailing a check, an insurer puts a beneficiary's death benefit into an interest-bearing account she can draw on by writing drafts. This is a:
- A. Viatical settlement
- B. Collateral assignment
- C. Retained asset account
- D. Spendthrift trust
Answer: C. Retained asset account
With a retained asset account, the insurer holds the proceeds and pays interest, and the beneficiary withdraws money as she needs it.
10. In a variable annuity, which charge pays the insurer for guaranteeing lifetime income payments and the death benefit?
- A. Surrender charge
- B. State premium tax
- C. Policy loan interest
- D. Mortality and expense risk charge
Answer: D. Mortality and expense risk charge
The mortality and expense risk charge is deducted from the account value each year. It pays for the insurer's guarantees and some of its costs.
11. A life insurer that issued Robert's $500,000 policy becomes insolvent. What is the most the Ohio Life and Health Insurance Guaranty Association will pay toward his death benefit?
- A. $300,000
- B. $250,000
- C. $100,000
- D. $500,000
Answer: A. $300,000
Under Ohio law the guaranty association covers life insurance death benefits up to $300,000 for each insured life.
12. If neither the policyowner nor the beneficiary chooses a settlement option, life insurance death proceeds are usually paid as:
- A. Monthly payments for 10 years
- B. A lump sum
- C. Interest only, with the principal left with the insurer
- D. A life income to the beneficiary
Answer: B. A lump sum
A lump-sum cash payment is the automatic settlement option. Other options apply only when someone chooses them.
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These are original questions written from the published exam outline. They are not taken from the state exam.
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