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  5. OHIO Life Insurance Agent Series 11-44 Questions and Answers

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Questions # 41:

Which of the following represents a syndicate of underwriters that specialize in Insuring specific types of risk?

Options:

A.

reciprocal insurer

B.

Lloyd's association

C.

risk retention group

D.

fraternal benefit society

Expert Solution
Questions # 42:

Under an executive bonus plan, premiums paid by the employer are

Options:

A.

reported as taxable income to the employee.

B.

tax deductible to both the employee and employer.

C.

reported as taxable Income to the employer.

D.

only tax deductible when the bonus is an insurance plan.

Expert Solution
Questions # 43:

Which of the following retirementplans will allow for a nonworking spouse to set up a separate account and make contributions based on the working spouse's Income?

Options:

A.

SIMPLE IRA

B.

SEP IRA

C.

401(k)

D.

IRA

Expert Solution
Questions # 44:

Generally, rates charged for Insurance may NOT be

Options:

A.

discriminatory.

B.

cost prohibitive.

C.

excessive, inadequate, or unfairly discriminatory.

D.

different for persons withdiffering risk profiles.

Expert Solution
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