State RegulationsOH specificDifficulty 2/5
A person who is not licensed as a viatical settlement broker negotiates the sale of a policy on behalf of an owner with a chronic condition. Under ORC 3916.02, what is the status of this activity?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
ORC 3916.02 conditions the authority to sell, solicit, or negotiate viatical settlement contracts on holding a viatical settlement broker license; an unlicensed person may not perform those negotiating services regardless of the owner's consent, another license held, or provider involvement.
Why the other options are wrong
- A) The owner's written consent does not waive the licensing requirement of ORC 3916.02.
- B) A different Ohio insurance license does not confer viatical settlement broker authority; the specific license is required.
- D) Provider supervision does not substitute for the broker license mandated by ORC 3916.02.
Memory hook
Negotiating viatical deals needs the viatical broker license — no substitute license, consent, or supervision will do.