Online Access Free OhioDepartmentofInsurance.OH-Life-Agent-Series-11-44.v2024-04-05.q34 Practice Test (Page 5)

Which of the following is a life insurance contract written on the life of an individual?

A.Single-Life Insurance.

B.Joint Life Contract.

C.Insurance.

D.Survivorship Policy.

The grace period is a period of time

A.after the premium is due but while the policy remains in force.

B.between the death of the insured individual and the payment of the benefits.

C.after the premium is received and before the policy is issued.

D.after the premium is paid and before the policy is issued.

An exposure Is a condition or situation that presents the possibility of

A.loss.

B.peril.

C.indemnity.

D.hazard.

Under an executive bonus plan, premiums paid by the employer are

A.only tax deductible when the bonus is an insurance plan.

B.reported as taxable income to the employee.

C.tax deductible to both the employee and employer.

D.reported as taxable Income to the employer.

An annuitant dies during the accumulation period. What happens to the cash value in the annuity?

A.The cash value is paid to the IRS.

B.The cash value is paid to the beneficiary.

C.The cash value is paid into the estate.

D.The company keeps the cash value.

Other Version: 1263OhioDepartmentofInsurance.OH-Life-Agent-Series-11-44.v2024-12-14.q34

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