State RegulationsOH specificDifficulty 2/5
Under ORC 3916.01(N), a viatical settlement broker is a person who, on behalf of an owner and for a fee or other compensation:
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
ORC 3916.01(N) defines the viatical settlement broker by function — one who for compensation sells, solicits, or negotiates viatical settlement contracts on behalf of an owner; that functional definition is why ORC 3916.02 requires such persons to hold a broker license.
Why the other options are wrong
- A) Buying the policy outright is the provider's role, not the broker's.
- B) Mortality underwriting is the issuing insurer's function; the broker performs no underwriting.
- D) Paying settlement proceeds is the provider's obligation, not the broker's defined function.
Memory hook
Broker defined by the verbs: sells, solicits, negotiates — for the owner.