Exam (elaborations)
Ohio Life Insurance Exam 2024 with 100% correct answers
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To qualify for appointment of agent Answer - 18 YOA, US citizenship not required, no minimum residency Original certificate good for.... Answer - 180 days Renewal for license Answer - beinnially on birth month, $5 fee Types of risk Answer - Pure risk - covered by insurance Speculative risk - not covered (gambling) How to handle risk Answer - avoid it retain it - self insurance reduce it share it transfer it - buy insurance, spreads risk to large group Mortality Rate Answer - based on "law of large numbers" by age 100 we assume everyone dies females live longer
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Institution
Ohio Life Insurance
Course
Ohio Life Insurance
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- Ohio Life Insurance
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- February 21, 2024
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- Written in
- 2023/2024
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