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 — 48 practice questions.

Subtopics: Ownership, Assignment, Policy loan, Automatic premium loan, Dividends, Interest-only option, Life income option, Guaranteed insurability, Standard provisions, 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 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.

All Life, Accident & Health topics

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 Insurance Department and the exam administrator before relying on it.