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Ohio Life Insurance Agent — Information & Free Practice

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Ohio Life Insurance Agent

Provider
PSI Services LLC
Format
Computer-based, in-person proctored written examination
Exam questions
100 scored questions, plus possible unscored experimental items
Time limit
2 Hours
Passing score
70%
Exam fee
$49
Examination outline
  • 1.0 Insurance Regulation (12%)
    • 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 (12%)
    • 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 (18%)
    • 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 (12%)
    • 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 (22%)
    • 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 (12%)
    • 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 (12%)
    • 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
Examination sources