Ohio Life, Accident & Health Insurance
Exam (Series 11-35), Life Insurance
Policies Questions and answers
What type of policy is typically issued without proof of insurability from the
insured? - correct answer ✅Group policy
A whole life policy that requires that the Policyowner only pays premiums for a
specified number of years is known as what type of policy? - correct answer
✅Limited-pay whole life
Who is entitled to the cash values in an insurance policy? - correct answer ✅The
Policyowner
An insured receives a monthly summary for his life insurance policy. He notices
that the cash value of the policy is significantly lower this month than it was last
month. What type of policy does the insured have? - correct answer ✅Variable
What happens to the premium in an annually renewable term life policy? -
correct answer ✅Premium increases with each renewal
In a joint life policy, when is the death benefit paid? - correct answer ✅Upon the
first death
In term policies, what happens to the premium throughout the policy? - correct
answer ✅It remains level
