Free Life Policy Provisions Options and Riders Practice Questions
Ohio Life, Accident & Health exam (series 11-35) — 104 practice questions.
Subtopics: Ownership, Assignment, Policy loan, Automatic premium loan, Dividends, Interest-only option, Life income option, Guaranteed insurability, Grace period, Entire contract, Representations, False answers, Incontestability, Policy loans, Loan interest, Loan forfeiture, Prohibited provisions, Premium payment, Reinstatement, Nonforfeiture table, Dividend option default, Divorce and beneficiary, Creditor protection, Accelerated benefits, Accelerated benefit claims, Standard provisions, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Dividend options, Riders, 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, War exclusion, Aviation and avocation exclusions, Exclusions, Premium modes, Free look, Change of owner
Read the Life Policy Provisions Options and Riders study guide
Sample questions & answers
1. The right to name the beneficiary and surrender a life policy belongs to the:
Policyowner
The policyowner holds ownership rights such as naming beneficiaries and surrender.
2. Transferring ownership rights in a life policy to another party is called:
Assignment
Assignment transfers ownership rights to another party.
3. A policy loan in a whole life policy is secured by the:
Policy's cash value
Policy loans are secured by the cash value.
4. A provision that uses cash value to cover a missed premium automatically is the:
Automatic premium loan
The automatic premium loan uses cash value to pay an overdue premium.
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Practice: Life Policy Provisions Options and Riders
Answer choices are shuffled every time, and every question comes with an explanation.
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 Insurance Department and the exam administrator before relying on it.
