1. Exam Prep
  2. Ohio
  3. Life, Accident & Health
  4. Life Policy Provisions Options and Riders

Free Life Policy Provisions Options and Riders Practice Questions

Ohio Life, Accident & Health exam — 40 practice questions.

Subtopics: Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Policy loans, Dividend options, Riders, Grace period, Reinstatement, Incontestable clause, Suicide clause, Misstatement of age, Primary beneficiary, Irrevocable beneficiary, Minor beneficiary, Per capita, Estate as beneficiary, Dividend option cash, Dividend option reduce premium, Dividend option accumulate at interest, Dividend option one-year term, Joint and survivor settlement, Guaranteed insurability rider, Cost of living rider, Payor benefit rider, Return of premium rider, Child term rider

Read the Life Policy Provisions Options and Riders study guide

Sample questions & answers

1. The provision stating that the policy and the attached application together form the whole agreement is the:

Entire contract provision

The entire contract provision bars the insurer from incorporating outside documents not attached to the policy.

2. Transferring ownership rights in a life insurance policy to another party is called:

An assignment

An assignment transfers some or all ownership rights; absolute assignment transfers them completely.

3. The party who receives the death benefit only if the primary beneficiary has died before the insured is the:

Contingent beneficiary

The contingent (secondary) beneficiary receives proceeds if no primary beneficiary survives the insured.

4. A revocable beneficiary designation means the policyowner:

May change the beneficiary at any time without consent

A revocable beneficiary can be changed by the owner at will; an irrevocable one requires the beneficiary's consent.

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Practice: Life Policy Provisions Options and Riders

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Pennsylvania Insurance Department and the exam administrator before relying on it.