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Free Ohio Life Insurance Agent Practice Questions

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Sample Practice Questions

Try these 10 sample questions from the Ohio Life Insurance Agent practice bank. Each includes the answer and explanation. Continue with the interactive practice above to review the full question set.

  1. 1What is the minimum age for an individual applicant for an Ohio resident insurance agent license?

    1. A. 18
    2. B. 19
    3. C. 21
    4. D. 25

    Answer: A

    Explanation: ORC 3905.06(A)(1)(a) requires that the applicant be “at least eighteen years of age.”

    Reference: Section 3905.06 - Ohio Revised Code | Ohio Laws — ORC 3905.06(A)(1)(a)

  2. 2Does an Ohio agent license by itself create actual authority to commit an insurer?

    1. A. Yes, for every insurer
    2. B. Yes, after renewal
    3. C. Only for life insurers
    4. D. No

    Answer: D

    Explanation: ORC 3905.01(H) says a license “does not create any actual, apparent, or inherent authority” to commit an insurer.

    Reference: Section 3905.01 - Ohio Revised Code | Ohio Laws — ORC 3905.01(H)

  3. 3Which Ohio organization provides statutory protection for covered life and annuity obligations after a member insurer impairment?

    1. A. PSI
    2. B. FINRA
    3. C. The agent's agency
    4. D. Ohio Life and Health Insurance Guaranty Association

    Answer: D

    Explanation: ORC Chapter 3956 creates the “Ohio life and health insurance guaranty association.”

    Reference: Section 3956.06 - Ohio Revised Code | Ohio Laws — ORC 3956.06; association creation provision

  4. 4A client wants life coverage to track a mortgage balance that is scheduled to shrink over time. Which policy design most directly matches the declining obligation?

    1. A. Level term insurance
    2. B. Decreasing term insurance
    3. C. Limited-payment whole life insurance
    4. D. Single-premium whole life insurance

    Answer: B

    Explanation: "Decreasing term insurance: Offers a death benefit that decreases over time. This type is often used to cover debts that reduce over time, such as a mortgage." Decreasing term reduces the death benefit over time to match a shrinking debt. The other named products provide different coverage or premium patterns.

    Reference: NAIC Life Insurance Topic — Term Life Insurance, Decreasing term insurance

  5. 5What must an Ohio life insurer return as part of a policy when a document is intended to affect the policy's force or validity?

    1. A. A complete copy of each such application or document
    2. B. A summary of the insurer's most recent examination report
    3. C. A copy of every agent appointment and termination notice
    4. D. A schedule of all policy-form filings made that year

    Answer: A

    Explanation: ORC 3911.04 requires “a complete copy of each application or other document held by it which is intended in any manner to affect the force or validity of such policy.”

    Reference: Section 3911.04 - Ohio Revised Code | Ohio Laws — ORC 3911.04

  6. 6A retiree has a lump sum and needs annuity income to begin soon after buying the contract. Which type addresses that start date?

    1. A. Single-premium immediate annuity
    2. B. Flexible-premium deferred annuity
    3. C. Fixed-indexed deferred annuity
    4. D. Variable deferred annuity

    Answer: A

    Explanation: "Some annuities begin paying income to you soon after you buy it (an immediate annuity). Others begin at some later date you choose (a deferred annuity)." An immediate annuity begins income soon after purchase; deferred annuities begin at a later chosen date.

    Reference: NAIC Buyer's Guide for Deferred Annuities — What Is an Annuity?, When Annuities Start to Make Income Payments, p. 1

  7. 7A beneficiary receives a life policy's lump-sum death benefit after the insured dies. The policy was not acquired for a price or in a reportable policy sale, and the insurer paid no separate interest. What is the usual federal income-tax treatment?

    1. A. The entire death benefit is ordinary income
    2. B. Only the amount above premiums is ordinary income
    3. C. The death benefit is generally excluded from income
    4. D. The entire death benefit is taxable capital gain

    Answer: C

    Explanation: "Life insurance proceeds paid to you because of the death of the insured person generally aren’t taxable unless the policy was turned over to you for a price or was acquired in a reportable policy sale." Death-triggered life proceeds are generally excluded under these facts. A transfer for value or reportable policy sale can change that result, and separate interest may be taxable.

    Reference: IRS Publication 525, Taxable and Nontaxable Income — Life Insurance Proceeds, general rule

  8. 8How many hours of Ohio prelicensing education are ordinarily required for the life line?

    1. A. 10 hours
    2. B. 20 hours
    3. C. 24 hours
    4. D. 40 hours

    Answer: B

    Explanation: OAC 3901-5-09(D)(2)(a)(i) states “Life: twenty hours.”

    Reference: Rule 3901-5-09 - Ohio Administrative Code | Ohio Laws — OAC 3901-5-09(D)(2)(a)(i)

  9. 9What does an Ohio producer license alone fail to create?

    1. A. Authority to represent a particular insurer
    2. B. A license number
    3. C. A line of authority
    4. D. An expiration date

    Answer: A

    Explanation: ORC 3905.01(H) says the license does not create authority “to represent or commit an insurer.”

    Reference: Section 3905.01 - Ohio Revised Code | Ohio Laws — ORC 3905.01(H)

  10. 10For an insurer that qualifies as a member insurer, how does Ohio treat guaranty-association membership?

    1. A. It is a condition of the insurer's license or authority
    2. B. It is elected separately for each policy form
    3. C. It is optional whenever the insurer is domestic
    4. D. It begins only after a liquidation order

    Answer: A

    Explanation: ORC 3956.06(A) states, “All member insurers shall be and remain members of the association as a condition of their license or authority to transact the business of insurance or health insuring corporation business in this state.”

    Reference: Section 3956.06 - Ohio Revised Code | Ohio Laws — ORC 3956.06(A)

Topics in this practice bank

These topics describe the available practice for Ohio Life Insurance Agent. Review the examination outline and its sources for scope and allocation details.

  • 1.0 Insurance Regulation
    • 1.1 Licensing
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09)
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09) > Requirements (3905.02, .04, .041, .05, .051, .06; 3901-5-09)
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09) > Resident/nonresident (3905.06, .061, .07, .071)
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09) > Change in name, address, email, telephone number (3905.061, 3905.071; 3901-5-09)
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09) > Renewal/nonrenewal (3905.06; 3901-5-09(J))
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09) > Temporary license (3905.09)
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09) > Duty to report criminal convictions and administrative disciplinary actions (3905.22)
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09) > Assumed business names (3905.11)
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09) > Continuing education including exemptions and penalties (3905.06, 3905.481; 3901-5-01; 3901-5-05(D), 3901-5-09(L)(7))
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09) > Inactivity due to military service (3905.06(G)); 3901-5-09(J))
    • 1.1 Licensing > Maintenance and duration (3905.06, .16; 3901-5-09) > Inactivity due to extenuating circumstances (3905.06(G); 3901-5-09(J))
    • 1.1 Licensing > Disciplinary actions (3905.14)
    • 1.1 Licensing > License denial, probation, surrender, suspension, revocation, or refusal to issue or renew (3901.22(D)(1); 3905.14, 3905.16; 3901-5-12)
    • 1.1 Licensing > License denial, probation, surrender, suspension, revocation, or refusal to issue or renew (3901.22(D)(1); 3905.14, 3905.16; 3901-5-12) > Failure to pay taxes (3905.14(B)(14))
    • 1.1 Licensing > License denial, probation, surrender, suspension, revocation, or refusal to issue or renew (3901.22(D)(1); 3905.14, 3905.16; 3901-5-12) > Failure to appear for an interview 3905.14(B)(22))
    • 1.1 Licensing > License denial, probation, surrender, suspension, revocation, or refusal to issue or renew (3901.22(D)(1); 3905.14, 3905.16; 3901-5-12) > Failure to provide department with a written response (3905.14(B)(21))
    • 1.1 Licensing > License denial, probation, surrender, suspension, revocation, or refusal to issue or renew (3901.22(D)(1); 3905.14, 3905.16; 3901-5-12) > Penalties and fines for violations (3901.22(D), (F), 3905.14(B), (D), (E), (F), (G), (H), .99)
    • 1.1 Licensing > License denial, probation, surrender, suspension, revocation, or refusal to issue or renew (3901.22(D)(1); 3905.14, 3905.16; 3901-5-12) > Penalties and fines for violations (3901.22(D), (F), 3905.14(B), (D), (E), (F), (G), (H), .99) > Cease and desist orders (3901.221; 3905.14(H), 3901.22(D))
    • 1.1 Licensing > License denial, probation, surrender, suspension, revocation, or refusal to issue or renew (3901.22(D)(1); 3905.14, 3905.16; 3901-5-12) > Penalties and fines for violations (3901.22(D), (F), 3905.14(B), (D), (E), (F), (G), (H), .99) > Civil
    • 1.1 Licensing > License denial, probation, surrender, suspension, revocation, or refusal to issue or renew (3901.22(D)(1); 3905.14, 3905.16; 3901-5-12) > Penalties and fines for violations (3901.22(D), (F), 3905.14(B), (D), (E), (F), (G), (H), .99) > Criminal
    • 1.1 Licensing > License denial, probation, surrender, suspension, revocation, or refusal to issue or renew (3901.22(D)(1); 3905.14, 3905.16; 3901-5-12) > Penalties and fines for violations (3901.22(D), (F), 3905.14(B), (D), (E), (F), (G), (H), .99) > Hearings (3901.22; 3905.14(D); ORC 119)
    • 1.1 Licensing > License denial, probation, surrender, suspension, revocation, or refusal to issue or renew (3901.22(D)(1); 3905.14, 3905.16; 3901-5-12) > Consent/Settlement agreements (3901.22(G))
    • 1.2 State regulation
    • 1.2 State regulation > Acts constituting insurance transactions (3901.17; 3905.02, 3905.42)
    • 1.2 State regulation > Acts constituting insurance transactions (3901.17; 3905.02, 3905.42) > Negotiate, sell, solicit (3905.01, .02)
    • 1.2 State regulation > Director's general duties and powers (3901.01, 3901.011, .04, .041; 3905.12)
    • 1.2 State regulation > Company regulation
    • 1.2 State regulation > Company regulation > Certificate of authority (3907.08; 3909.01, .08, 3925.11, 3927.01)
    • 1.2 State regulation > Company regulation > Insolvency (3903.01(O))
    • 1.2 State regulation > Company regulation > Policy forms/rates/exceptions (3915.051; 3918.08; 3935.04; 3923.02, 3923.021)
    • 1.2 State regulation > Company regulation > Financial requirements (3901-1-50; 3901-3-04; 3907.05, 3929.011)
    • 1.2 State regulation > Agent regulation
    • 1.2 State regulation > Agent regulation > Commissions, compensations, fees (3905.18; 3905.181; 3901-5-09(N), 3905.55)
    • 1.2 State regulation > Agent regulation > Reporting of felony and crimes of moral turpitude (3905.14 (B)(6), (B)(7), .22)
    • 1.2 State regulation > Agent regulation > Policy/application signature (3905.14(B)(11), (26))
    • 1.2 State regulation > Appointment procedures
    • 1.2 State regulation > Appointment procedures > Agent appointment (3905.20; 3901-5-09(K))
    • 1.2 State regulation > Appointment procedures > Cancellation of appointment (3905.16(B)(1))
    • 1.2 State regulation > Appointment procedures > Termination notification (3905.21)
    • 1.2 State regulation > Unfair trade and claims settlement practices (3901.19-.26; 3901-1-07)
    • 1.2 State regulation > Unfair trade and claims settlement practices (3901.19-.26; 3901-1-07) > Rebating (3911.20; 3999.05; Bulletins 2019-04 and 2019-05)
    • 1.2 State regulation > Unfair trade and claims settlement practices (3901.19-.26; 3901-1-07) > Premium refunds and other incentives (3905.14(B)(32); 3999.05, Bulletins 2019-04 and 2019-05)
    • 1.2 State regulation > Unfair trade and claims settlement practices (3901.19-.26; 3901-1-07) > False advertising (3901.21(A), (B), (C), (D), (E), 3901.24; 3905.43; 3999.10, .11)
    • 1.2 State regulation > Unfair trade and claims settlement practices (3901.19-.26; 3901-1-07) > Misrepresentation (3901.21(A),(B); 3905.14(B)(5); 3999.08)
    • 1.2 State regulation > Unfair trade and claims settlement practices (3901.19-.26; 3901-1-07) > Defamation of insurer (3901.21(C ), (D); 3999.09)
    • 1.2 State regulation > Unfair trade and claims settlement practices (3901.19-.26; 3901-1-07) > Unfair discrimination (3901.21(L), (M), (N))
    • 1.2 State regulation > Unfair trade and claims settlement practices (3901.19-.26; 3901-1-07) > Illegal inducements (3933.01; 3999.05, 3901.21(G), 3911.20, Bulletins 2019-04 and 2019-05)
    • 1.2 State regulation > Unfair trade and claims settlement practices (3901.19-.26; 3901-1-07) > General grounds for disciplinary action (3905.14(B))
    • 1.2 State regulation > Examination of books and records (3901.04, .07)
    • 1.2 State regulation > Insurance fraud regulation (3999.21, .31, .37, .41, .42, .99; 2913.47, 3901.44)
    • 1.2 State regulation > Insurance information privacy (3901.44; 3904.04, 3904.14, 3965.01-.11)
    • 1.2 State regulation > Consumer information/fees (3905.55; 3901-6-04; 3905.181)
    • 1.3 Federal regulation
    • 1.3 Federal regulation > Fair Credit Reporting Act (15 USC 1681–1681d)
    • 1.3 Federal regulation > Fraud and false statements including 1033 waiver (18 USC 1033, 1034)
    • 1.3 Federal regulation > Other federal regulations (e.g., Do Not Call List) (https://www.donotcall.gov/)
  • 2.0 General Insurance
    • 2.1 Concepts
    • 2.1 Concepts > Risk management key terms
    • 2.1 Concepts > Risk management key terms > Risk
    • 2.1 Concepts > Risk management key terms > Exposure
    • 2.1 Concepts > Risk management key terms > Hazard
    • 2.1 Concepts > Risk management key terms > Peril
    • 2.1 Concepts > Risk management key terms > Loss
    • 2.1 Concepts > Methods of handling risk
    • 2.1 Concepts > Methods of handling risk > Avoidance
    • 2.1 Concepts > Methods of handling risk > Retention
    • 2.1 Concepts > Methods of handling risk > Sharing
    • 2.1 Concepts > Methods of handling risk > Reduction
    • 2.1 Concepts > Methods of handling risk > Transfer
    • 2.1 Concepts > Elements of insurable risks
    • 2.1 Concepts > Adverse selection
    • 2.1 Concepts > Law of large numbers
    • 2.1 Concepts > Reinsurance
    • 2.1 Concepts > Indemnity/pay on behalf of
    • 2.2 Insurers
    • 2.2 Insurers > Types of insurers
    • 2.2 Insurers > Types of insurers > Stock companies
    • 2.2 Insurers > Types of insurers > Mutual companies
    • 2.2 Insurers > Types of insurers > Fraternal benefit societies
    • 2.2 Insurers > Types of insurers > Reciprocals
    • 2.2 Insurers > Types of insurers > Lloyd's associations
    • 2.2 Insurers > Types of insurers > Risk retention groups
    • 2.2 Insurers > Types of insurers > Surplus lines
    • 2.2 Insurers > Authorized/admitted versus unauthorized/nonadmitted insurers
    • 2.2 Insurers > Domestic, foreign and alien insurers
    • 2.2 Insurers > Financial solvency status (e.g., A.M. Best, Standard and Poor's, Moody's, NAIC)
    • 2.2 Insurers > Marketing (distribution) systems
    • 2.3 Agent and general rules of agency
    • 2.3 Agent and general rules of agency > Insurer as principal
    • 2.3 Agent and general rules of agency > Agent/insurer relationship
    • 2.3 Agent and general rules of agency > Authority and powers of agents
    • 2.3 Agent and general rules of agency > Authority and powers of agents > Express
    • 2.3 Agent and general rules of agency > Authority and powers of agents > Implied
    • 2.3 Agent and general rules of agency > Authority and powers of agents > Apparent
    • 2.3 Agent and general rules of agency > Responsibilities to the applicant/insured
    • 2.4 Contracts
    • 2.4 Contracts > Elements of a legal contract
    • 2.4 Contracts > Elements of a legal contract > Offer and acceptance
    • 2.4 Contracts > Elements of a legal contract > Consideration
    • 2.4 Contracts > Elements of a legal contract > Competent parties
    • 2.4 Contracts > Elements of a legal contract > Legal purpose
    • 2.4 Contracts > Distinct characteristics of an insurance contract
    • 2.4 Contracts > Distinct characteristics of an insurance contract > Contract of adhesion
    • 2.4 Contracts > Distinct characteristics of an insurance contract > Aleatory contract
    • 2.4 Contracts > Distinct characteristics of an insurance contract > Personal contract
    • 2.4 Contracts > Distinct characteristics of an insurance contract > Unilateral contract
    • 2.4 Contracts > Distinct characteristics of an insurance contract > Conditional contract
    • 2.4 Contracts > Legal interpretations affecting contracts
    • 2.4 Contracts > Legal interpretations affecting contracts > Ambiguities in a contract of adhesion
    • 2.4 Contracts > Legal interpretations affecting contracts > Reasonable expectations
    • 2.4 Contracts > Legal interpretations affecting contracts > Indemnity
    • 2.4 Contracts > Legal interpretations affecting contracts > Utmost good faith
    • 2.4 Contracts > Legal interpretations affecting contracts > Representations/misrepresentations
    • 2.4 Contracts > Legal interpretations affecting contracts > Warranties
    • 2.4 Contracts > Legal interpretations affecting contracts > Concealment
    • 2.4 Contracts > Legal interpretations affecting contracts > Fraud
    • 2.4 Contracts > Legal interpretations affecting contracts > Waiver and estoppel
  • 3.0 Life Insurance Basics
    • 3.1 Insurable interest (3911.091,.11)
    • 3.2 Personal uses of life insurance
    • 3.2 Personal uses of life insurance > Survivor protection
    • 3.2 Personal uses of life insurance > Estate creation
    • 3.2 Personal uses of life insurance > Cash accumulation
    • 3.2 Personal uses of life insurance > Liquidity
    • 3.2 Personal uses of life insurance > Estate conservation
    • 3.3 Determining amount of personal life insurance
    • 3.3 Determining amount of personal life insurance > Human life value approach
    • 3.3 Determining amount of personal life insurance > Needs approach
    • 3.3 Determining amount of personal life insurance > Needs approach > Types of information gathered
    • 3.3 Determining amount of personal life insurance > Needs approach > Determining lump-sum needs
    • 3.3 Determining amount of personal life insurance > Needs approach > Planning for income needs
    • 3.4 Business uses of life insurance
    • 3.4 Business uses of life insurance > Buy-sell funding
    • 3.4 Business uses of life insurance > Key person
    • 3.4 Business uses of life insurance > Executive bonuses
    • 3.5 Viatical settlements (Chapter 3916)
    • 3.5 Viatical settlements (Chapter 3916) > Nature and purpose
    • 3.5 Viatical settlements (Chapter 3916) > General rules
    • 3.5 Viatical settlements (Chapter 3916) > Viatical settlement broker authority and licensing (3916.02)
    • 3.5 Viatical settlements (Chapter 3916) > Disciplinary actions (3916.15)
    • 3.5 Viatical settlements (Chapter 3916) > Disciplinary actions (3916.15) > Promoting purchase for purpose of selling (3916.16)
    • 3.5 Viatical settlements (Chapter 3916) > Disciplinary actions (3916.15) > Advertisements (3916.17)
    • 3.5 Viatical settlements (Chapter 3916) > Definitions (3916.01)
    • 3.5 Viatical settlements (Chapter 3916) > Definitions (3916.01) > Viatical settlement broker (3916.01(N), .02, .03, .04)
    • 3.5 Viatical settlements (Chapter 3916) > Definitions (3916.01) > Viatical settlement provider (3916.01(P), .07)
    • 3.5 Viatical settlements (Chapter 3916) > Definitions (3916.01) > Viatical settlement contract (3916.01(O), 3916.08)
    • 3.5 Viatical settlements (Chapter 3916) > Definitions (3916.01) > Stranger Originated Life Insurance (Stoli) (3916.05(B); 3901-9-04)
    • 3.5 Viatical settlements (Chapter 3916) > Definitions (3916.01) > Viator (3916.01(R))
    • 3.6 Classes of life insurance policies
    • 3.6 Classes of life insurance policies > Group versus individual
    • 3.6 Classes of life insurance policies > Ordinary versus industrial (home service)
    • 3.6 Classes of life insurance policies > Permanent versus term
    • 3.6 Classes of life insurance policies > Participating versus nonparticipating
    • 3.6 Classes of life insurance policies > Fixed versus variable life insurance and annuities
    • 3.6 Classes of life insurance policies > Universal Life
    • 3.7 Premiums
    • 3.7 Premiums > Factors in premium determination
    • 3.7 Premiums > Factors in premium determination > Mortality
    • 3.7 Premiums > Factors in premium determination > Interest
    • 3.7 Premiums > Factors in premium determination > Expense
    • 3.7 Premiums > Premium Concepts
    • 3.7 Premiums > Premium Concepts > Net single premium
    • 3.7 Premiums > Premium Concepts > Gross annual premium
    • 3.7 Premiums > Premium payment mode
    • 3.8 Agent responsibilities
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03)
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03) > Advertising
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03) > Life and Health Insurance Guaranty Association (3956.04, .06, .18; 3901-1-52)
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03) > Backdating of policies (3915.13)
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03) > Illustrations (3901-6-04))
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03) > Policy summary (3901-6-03(D)(6))
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03) > Buyer's guide (3901-6-03(D)(1))
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03) > Life insurance policy cost comparison methods
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03) > Replacement (3901-6-05)
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03) > Use and disclosure of insurance information
    • 3.8 Agent responsibilities > Solicitation, sales presentations, and disclosure requirements (3901-6-01, 03) > Post Application Consumer Review
    • 3.8 Agent responsibilities > Field underwriting
    • 3.8 Agent responsibilities > Field underwriting > Notice of information practices
    • 3.8 Agent responsibilities > Field underwriting > Application procedures
    • 3.8 Agent responsibilities > Delivery
    • 3.8 Agent responsibilities > Delivery > Policy review
    • 3.8 Agent responsibilities > Delivery > Effective date of coverage
    • 3.8 Agent responsibilities > Delivery > Premium collection
    • 3.8 Agent responsibilities > Delivery > Statement of good health
    • 3.9 Individual underwriting by the insurer
    • 3.9 Individual underwriting by the insurer > Information sources and regulation (3904)
    • 3.9 Individual underwriting by the insurer > Information sources and regulation (3904) > Application
    • 3.9 Individual underwriting by the insurer > Information sources and regulation (3904) > Agent report
    • 3.9 Individual underwriting by the insurer > Information sources and regulation (3904) > Attending physician statement
    • 3.9 Individual underwriting by the insurer > Information sources and regulation (3904) > Investigative consumer (inspection) report
    • 3.9 Individual underwriting by the insurer > Information sources and regulation (3904) > Medical Information Bureau (MIB)
    • 3.9 Individual underwriting by the insurer > Information sources and regulation (3904) > Medical examinations and lab tests including HIV (3901.46(A), (B)(1))
    • 3.9 Individual underwriting by the insurer > Selection criteria
    • 3.9 Individual underwriting by the insurer > Classification of risks
    • 3.9 Individual underwriting by the insurer > Classification of risks > Preferred
    • 3.9 Individual underwriting by the insurer > Classification of risks > Standard
    • 3.9 Individual underwriting by the insurer > Classification of risks > Substandard
    • 3.9 Individual underwriting by the insurer > Classification of risks > Declined
  • 4.0 Life Insurance Policies
    • 4.1 Term life insurance
    • 4.1 Term life insurance > Level term
    • 4.1 Term life insurance > Level term > Annual renewable term
    • 4.1 Term life insurance > Level term > Level premium term
    • 4.1 Term life insurance > Decreasing term
    • 4.2 Whole life insurance
    • 4.2 Whole life insurance > Continuous premium (straight life)
    • 4.2 Whole life insurance > Limited payment
    • 4.2 Whole life insurance > Single premium
    • 4.3 Flexible premium policies
    • 4.3 Flexible premium policies > Adjustable/Universal life
    • 4.3 Flexible premium policies > Variable Universal life
    • 4.4 Specialized policies
    • 4.4 Specialized policies > Joint life (first-to-die)
    • 4.4 Specialized policies > Survivorship life (second-to-die)
    • 4.4 Specialized policies > Juvenile life
    • 4.5 Group life insurance
    • 4.5 Group life insurance > Characteristics of group plans
    • 4.5 Group life insurance > Types of plan sponsors
    • 4.5 Group life insurance > Group underwriting requirements
    • 4.5 Group life insurance > Conversion to individual policy (3917.06(H), (I))
    • 4.6 Credit life insurance (individual versus group)
  • 5.0 Life Insurance Policy Provisions, Options and Riders
    • 5.1 Standard provisions (3915.05)
    • 5.1 Standard provisions (3915.05) > Entire contract (C)
    • 5.1 Standard provisions (3915.05) > Payment of premiums (A)
    • 5.1 Standard provisions (3915.05) > Grace period (B)
    • 5.1 Standard provisions (3915.05) > Reinstatement (J)
    • 5.1 Standard provisions (3915.05) > Misstatement of age (E)
    • 5.1 Standard provisions (3915.05) > Payment of claims (K)
    • 5.1 Standard provisions (3915.05) > Exclusions
    • 5.1 Standard provisions (3915.05) > Statement of the insured (D)
    • 5.1 Standard provisions (3915.05) > Incontestability ((C), 3911.07)
    • 5.1 Standard provisions (3915.05) > Prohibited provisions (3915.09)
    • 5.1 Standard provisions (3915.05) > Modifications (3915.12)
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14)
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Designation options
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Designation options > Individuals
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Designation options > Classes
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Designation options > Estates
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Designation options > Minors
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Designation options > Trusts
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Designation options > Beneficiary Revocation (5815.33)
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Succession
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Revocable versus irrevocable
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Common disaster clause
    • 5.2 Beneficiaries (3905.14 (B)(19), (20), 3911.09, .10, .13, .14) > Spendthrift clause
    • 5.3 Settlement options
    • 5.3 Settlement options > Cash payment
    • 5.3 Settlement options > Interest only
    • 5.3 Settlement options > Fixed-period installments
    • 5.3 Settlement options > Fixed-amount installments
    • 5.3 Settlement options > Life income
    • 5.3 Settlement options > Life income > Single life
    • 5.3 Settlement options > Life income > Joint and survivor
    • 5.4 Nonforfeiture options
    • 5.4 Nonforfeiture options > Cash surrender value
    • 5.4 Nonforfeiture options > Extended term
    • 5.4 Nonforfeiture options > Reduced paid-up insurance
    • 5.5 Policy loan and withdrawal options
    • 5.5 Policy loan and withdrawal options > Cash loans
    • 5.5 Policy loan and withdrawal options > Automatic premium loans
    • 5.5 Policy loan and withdrawal options > Withdrawals or partial surrenders
    • 5.6 Dividend options
    • 5.6 Dividend options > Cash payment
    • 5.6 Dividend options > Reduction of premium payments
    • 5.6 Dividend options > Accumulation at interest
    • 5.6 Dividend options > One-year term option
    • 5.6 Dividend options > Paid-up additions
    • 5.6 Dividend options > Paid-up insurance
    • 5.7 Disability riders
    • 5.7 Disability riders > Waiver of premium
    • 5.7 Disability riders > Waiver of cost of insurance
    • 5.7 Disability riders > Disability income benefit
    • 5.7 Disability riders > Payor benefit life/disability (juvenile insurance)
    • 5.8 Living benefit provisions/riders (3915.21-.24, 3923.44(K), (L); 3901-6-06)
    • 5.8 Living benefit provisions/riders (3915.21-.24, 3923.44(K), (L); 3901-6-06) > Accelerated benefit (terminal illness)
    • 5.8 Living benefit provisions/riders (3915.21-.24, 3923.44(K), (L); 3901-6-06) > Long-term care
    • 5.9 Riders covering additional insureds
    • 5.9 Riders covering additional insureds > Spouse/other-insured term rider
    • 5.9 Riders covering additional insureds > Children's term rider
    • 5.9 Riders covering additional insureds > Family term rider
    • 5.10 Riders affecting the death benefit amount
    • 5.10 Riders affecting the death benefit amount > Accidental death
    • 5.10 Riders affecting the death benefit amount > Guaranteed insurability
    • 5.10 Riders affecting the death benefit amount > Cost of living
    • 5.10 Riders affecting the death benefit amount > Return of premium
  • 6.0 Annuities
    • 6.1 Annuity principles and concepts
    • 6.1 Annuity principles and concepts > Accumulation period versus annuity period
    • 6.1 Annuity principles and concepts > Owner, annuitant and beneficiary
    • 6.1 Annuity principles and concepts > Insurance aspects of annuities
    • 6.1 Annuity principles and concepts > Suitability requirements (3901-6-13)
    • 6.2 Immediate versus deferred annuities
    • 6.2 Immediate versus deferred annuities > Single premium immediate annuities (SPIAs)
    • 6.2 Immediate versus deferred annuities > Deferred annuities
    • 6.2 Immediate versus deferred annuities > Deferred annuities > Premium payment options
    • 6.2 Immediate versus deferred annuities > Deferred annuities > Nonforfeiture
    • 6.2 Immediate versus deferred annuities > Deferred annuities > Surrender charges
    • 6.2 Immediate versus deferred annuities > Deferred annuities > Death benefits
    • 6.3 Annuity (benefit) payment options
    • 6.3 Annuity (benefit) payment options > Life contingency options
    • 6.3 Annuity (benefit) payment options > Life contingency options > Pure life versus life with guaranteed minimum
    • 6.3 Annuity (benefit) payment options > Life contingency options > Single life versus multiple life
    • 6.3 Annuity (benefit) payment options > Annuities certain (types)
    • 6.4 Fixed Annuities
    • 6.4 Fixed Annuities > General account assets
    • 6.4 Fixed Annuities > Interest rate guarantees (minimum versus current)
    • 6.4 Fixed Annuities > Level benefit payment amount
    • 6.5 Specialty annuity products
    • 6.5 Specialty annuity products > Equity indexed annuities
    • 6.5 Specialty annuity products > Market value adjusted annuities
    • 6.6 Uses of annuities
    • 6.6 Uses of annuities > Lump-sum settlements
    • 6.6 Uses of annuities > Qualified retirement plans
    • 6.6 Uses of annuities > Qualified retirement plans > Group versus individual annuities
    • 6.6 Uses of annuities > Personal uses
    • 6.6 Uses of annuities > Personal uses > Individual retirement plans
    • 6.6 Uses of annuities > Personal uses > Tax-deferred growth
    • 6.6 Uses of annuities > Personal uses > Retirement income
    • 6.6 Uses of annuities > Personal uses > Education funds
  • 7.0 Federal Tax Considerations for Life Insurance and Annuities
    • 7.1 Taxation of personal life insurance
    • 7.1 Taxation of personal life insurance > Amounts available to policy owner
    • 7.1 Taxation of personal life insurance > Amounts available to policy owner > Cash value increases
    • 7.1 Taxation of personal life insurance > Amounts available to policy owner > Dividends
    • 7.1 Taxation of personal life insurance > Amounts available to policy owner > Policy loans
    • 7.1 Taxation of personal life insurance > Amounts available to policy owner > Surrenders
    • 7.1 Taxation of personal life insurance > Amounts received by beneficiary
    • 7.1 Taxation of personal life insurance > Amounts received by beneficiary > General rule and exceptions
    • 7.1 Taxation of personal life insurance > Amounts received by beneficiary > Settlement options
    • 7.1 Taxation of personal life insurance > Values included in insured's estate
    • 7.2 Modified endowment contracts (MECs)
    • 7.2 Modified endowment contracts (MECs) > Modified endowment versus life insurance
    • 7.2 Modified endowment contracts (MECs) > Seven-pay test
    • 7.2 Modified endowment contracts (MECs) > Distributions
    • 7.3 Taxation of non-qualified annuities
    • 7.3 Taxation of non-qualified annuities > Individually-owned
    • 7.3 Taxation of non-qualified annuities > Individually-owned > Accumulation phase (taxation issues related to withdrawals)
    • 7.3 Taxation of non-qualified annuities > Individually-owned > Annuity phase and the exclusion ratio
    • 7.3 Taxation of non-qualified annuities > Individually-owned > Distributions at death
    • 7.3 Taxation of non-qualified annuities > Corporate-owned
    • 7.4 Taxation of individual retirement plans
    • 7.4 Taxation of individual retirement plans > Traditional IRAs
    • 7.4 Taxation of individual retirement plans > Traditional IRAs > Contributions and deductible amounts
    • 7.4 Taxation of individual retirement plans > Traditional IRAs > Premature distributions (including taxation issues)
    • 7.4 Taxation of individual retirement plans > Traditional IRAs > Annuity phase benefit payments
    • 7.4 Taxation of individual retirement plans > Traditional IRAs > Values included in the annuitant's estate
    • 7.4 Taxation of individual retirement plans > Traditional IRAs > Amounts received by beneficiary
    • 7.4 Taxation of individual retirement plans > Roth IRAs
    • 7.4 Taxation of individual retirement plans > Roth IRAs > Contributions and limits
    • 7.4 Taxation of individual retirement plans > Roth IRAs > Distributions
    • 7.5 Rollovers and transfers (IRAs and qualified plans)
    • 7.6 Section 1035 exchanges

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