Ohio Life Insurance Exam Questions and Verified Answers, 100% Guarantee Pass (Latest 2025) To qualify for appointment of agent - Correct Answers ✅18 YOA, US citizenship not required, no minimum residency Original certificate good for.... - Correct Answers ✅180 days Renewal for license - Correct Answers ✅beinnially on birth month, $5 fee Types of risk - Correct Answers ✅Pure risk - covered by insurance Speculative risk - not covered (gambling) How to handle risk - Correct Answers ✅avoid it retain it - self insurance reduce it share it transfer it - buy insurance, spreads risk to large group Mortality Rate - Correct Answers ✅based on "law of large numbers" by age 100 we assume everyone dies females live longer 1 / 2
Ohio Life Insurance Exam Questions and Verified Answers, 100% Guarantee Pass (Latest 2025) Principal - Correct Answers ✅The insurance company The agent represents the principal Implied Authority - Correct Answers ✅Needed to do job Not written in contract Expressed Authority - Correct Answers ✅written out authority ex. collecting premiums...Apparent Authority - Correct Answers ✅actions seem to be those of principal ex. business cards, applications....Change of name and address - Correct Answers ✅30 days to be reported Fiduciary - Correct Answers ✅financial trust timely manner agents cannot comingle
- / 2