Webce life health Florida Bundled Exams 2024 with 100% correct answers

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 ...

Representations and Warranties correct answersRepresentations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments correct answersTwo ...

1. Which of the following exempted insurance companies from federal antitrust legislation? correct answersthe McCarran-Ferguson Act 2. Which of the following has primary responsibility for regulating the insurance industry? a. the states correct answers Which statement about the NAIC is corr...

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 ...

In general, what is the earliest age at which a person can take a distribution from a qualified plan without a tax penalty? correct answers59 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...

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 correct answersChance of loss 5 Risk or Loss Factors correct answers1. Risk 2. Loss 3. Exposure 4. Peril 5. Hazard Insurance allows: correct answersIndividual or group to transfer over to insurance company the risk of financial loss from a destructive event Fundamental purpose of insur...

Risk correct answersChance of loss Loss correct answersUnplanned reduction of economic value Peril correct answerscause of loss Hazard correct answersa condition that increases the chance of peril Risk Transfer correct answersbuying insurance to shift the risk to insurance company Und...

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

risk correct answersChance of loss Pure risk correct answersIf it's pure you can insure Speculative riak correct answersLoss or gain peril correct answersThe cause of loss Life insurance peril correct answersDeath Health insurance peril correct answersIllness, accidental injury, disa...

Indirect Loss correct answersA secondary loss that follows from a direct loss to insured property from a covered peril. Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. Exclusive Agency System correct a...

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 answersrisk avoidance Which of the f...

Risk correct answerschance of loss Loss correct answersan unplanned reduction in economic value What risk is insurable? correct answerspure risk What are the two types of risk? correct answerspure risk and speculative risk Involves the possibility of a loss? correct answerspure risk C...

What is the underwriter's goal? correct answersTo write a book of business in which the actual losses approximate the expected losses. Gertrude is going to become an insurance agent. She would like to work in an agency that represents many different insurance companies. Gertrude will go to work ...