WEBCE COMPLETE EXAM PACK|GUARANTEED SUCCESS

which of the following situations presents a situation of pure risk? -knowing that his family is depending on him, Frank wants to insure his life -wanting to increase his retirement savings, Saul invests his life savings in the stock market -Ralph takes a second mortgage on his house and uses t...

Risk Chance of loss Loss Unplanned reduction of economic value Peril cause of loss Hazard a condition that increases the chance of peril Risk Transfer buying insurance to shift the risk to insurance company Underwriting assessing applicant to determine insura...

Risk Chance of loss Loss Unplanned reduction of economic value Peril cause of loss Hazard a condition that increases the chance of peril Risk Transfer buying insurance to shift the risk to insurance company Underwriting assessing applicant to determine insura...

Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrender her Ohio license. She must be sponsored by a producer licensed ...

Rory's parents offered to buy him a new car to take to college, but Rory turned them down because he was afraid the car would be stolen or damaged if he parked it on campus. In deciding not to own a car, what risk management technique did Rory employ? - correct answer risk avoidance Which of the...

On what basis are benefits payable under a long-term care insurance policy typically triggered? A) the diagnosis of an acute medical condition B) the number and types of medications prescribed C) the inability to perform of medications prescribed D) all of the above C) The inability to perfor...

Risk chance of loss Loss an unplanned reduction in economic value 00:13 01:41 What risk is insurable? pure risk What are the two types of risk? pure risk and speculative risk Involves the possibility of a loss? pure risk Can result in either loss or ...

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In general, what is the earliest age at which a person can take a distribution from a qualified plan without a tax penalty? 59 1/2 Carol was 35 when she bought her deferred annuity. Now, at age 38, she wants to withdraw funds from the contract to take a vacation. Carol is likely to encounter...

Buying life or health insurance is an example of which risk management technique? risk avoidance risk reduction risk retention risk transfer risk transfer What is the mathematical concept of probability that helps insurers estimate the statistical likelihood of mortality or morbidity l...

All of the following are eligible to purchase a group life insurance policy EXCEPT: the Wonderful Widget Company, which employs more than 200 people the State Electrical Workers Union the Retailers Multiple Employer Trust, formed by two retailers to purchase insurance for their employees Stan ...

Which of the following is characteristic of Virginia's Long-Term Care Insurance Partnership program? both I and II John's long-term care insurance partnership policy lapsed for nonpayment of premiums while he was confined in a nursing home. His coverage for that nursing home confinement wo...

What is the form of LTC that is non-medical and involving the most private and intimate aspects of a person's life - personal hygiene, dressing, and toileting? Custodial Care Custodial Care provides these "low-tech" services that are designed to minimize, rehabilitate, or compensate for l...

What is the Primary Goal of Long Term Care To maintain functionality Which of the following most precisely defines the fundamentals of self-care and the basic tasks of life? Activities of daily living 00:02 01:41 Long Term Care occurs only in nursing facilities. False ...