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LOMA 281 Module 1 Lesson 2 Correct Questions & ANSWERS(2024 LATEST UPDATE)EXAM BUNDLE $33.99   Add to cart

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LOMA 281 Module 1 Lesson 2 Correct Questions & ANSWERS(2024 LATEST UPDATE)EXAM BUNDLE

LOMA 281 Module 1 Lesson 2 Correct Questions & ANSWERS(2024 LATEST UPDATE)EXAM BUNDLELOMA 281 Module 1 Lesson 2 Correct Questions & ANSWERS(2024 LATEST UPDATE)EXAM BUNDLELOMA 281 Module 1 Lesson 2 Correct Questions & ANSWERS(2024 LATEST UPDATE)EXAM BUNDLELOMA 281 Module 1 Lesson 2 Correct Questions...

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LOMA 281 Module 2 CORRECT 100%

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Which type of whole life insurance policy will best be able to give Arabella lifetime protection without straining her retirement income? Single-premium whole life policy Limited-payment whole life policy Continuous-premium whole life policy - ANSWER B Financial needs life insurance can meet...

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LOMA 281 Module 2 COMPLETE QUESTIONS & ANSWERS(GRADED A)

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Term Life insurance - ANSWER Insurance that provides a policy benefit if the insured dies during a specified period of time. Policy term - ANSWER The specified period of time for which a term life insurance policy provides coverage. Level Term life insurance - ANSWER A plan of term life insura...

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LOMA 281 Module 2 Lesson 3|| CORRECT QUESTIONS || VERIFIED SOLUTIONS

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Annuity - ANSWER insurance against the risk of outliving one's financial resources annuity contract - ANSWER A contract under which an insurer promises to make a series of periodic payments to a named individual in exchange for a premium or a series of premiums. contract owner - ANSWER The pe...

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LOMA 281 Module 2 Lesson 1 - Term Life Insurance ACCURATE 100%

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Assume that Caryer has life insurance on his own life. Select the box beside each financial need that you think life insurance can meet Paying household expenses (utility bills, food, clothing, etc) Covering outstanding debts (mortgage and car loans, etc) Paying future outstanding medical, hosp...

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LOMA 291 Module 2|| QUESTIONS & ANSWERS|| VERIFIED 100%

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Omnichannel distribution - ANSWER A form of distribution that enables personalized sales to customers through multiple, integrated communication channels. Common ways to engage with customers - ANSWER - Face to Face - Phone - Direct Mail or Email - Online - Print and Broadcast Media - Worksi...

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LOMA 281 Module 1|| 75 QUESTIONS|| CORRECT ANSWERS|| VERIFIED

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Risk - ANSWER the possibility of an unexpected result. Premium - ANSWER A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company - ANSWER A company that provides protection against the risk of financial ...

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LOMA 281 Module 3 Lesson 3 CORRECT 100%

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real property - ANSWER Land and whatever is growing property - ANSWER A bundle of rights a person has with respect to something. on or attached to the land. personal property - ANSWER all property other than real property intangible property - ANSWER Property that represents ownership of a ...

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LOMA 281 Module 3

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Waiver of premium for disability (WP) Benefit - ANSWER A supplemental life insurance policy benefit under which the insurer promises to give up—to waive—its right to collect premiums that become due while the insured is totally disabled. - satisfies a 3-6 month waiting period: meaning for the f...

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LOMA 281 Module 1 Lesson 3 ACCURATE 100%

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Insurance policy - ANSWER A legally enforceable contract between a policyowner who applies for and owns the policy and the insurer that issues the policy Unilateral contract - ANSWER A contract in which only one of the parties makes a legally enforceable promise when entering into the contract. (...

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LOMA 281 Module 3 QUESTIONS & ANSWERS(2024 LATEST UPDATE)

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Waiver of premium for disability benefit - ANSWER A supplemental life insurance policy benefit under which the insurer promises to give up - to waive - its right to collect premiums that become due while the insured is totally disabled. Waiver of premium for payor benefit - ANSWER A supplemental ...

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LOMA 281 Module 1 Lesson 1 QUESTIONS & ANSWERS(RATED A)

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Risk - ANSWER The possibility of an unexpected result. This could be a gain or loss. Speculative risk - ANSWER A risk that involves three possible outcomes: loss, gain, or no change. Pure Risk - ANSWER a risk that presents the chance of loss but no opportunity for gain

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LOMA 281(2024 LATEST UPDATE)CORRECT 100%

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What are speculative risks? - ANSWER Risks that involve three outcomes: loss, gain, or no change What are pure risks? - ANSWER Risks that involve no possibility of gain What risks are insurable? - ANSWER Only pure risks

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LOMA 281 Module 1 Lesson 1 CORRECT 100%

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Assume you are applying for a life insurance policy. During his presentation, the insurance agent makes the following statements. Are they all true? (Select all that apply) A. People buy insurance to reduce the financial risk they face, but not every type of risk is insurable. B. Both pure risks...

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LOMA 281 Module 1 Lesson 2 Correct Questions & ANSWERS(2024 LATEST UPDATE)

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Financial services industry - ANSWER An industry in which financial institutions help people, businesses, and governments with their asset accumulation, asset management, and asset protection needs Financial institutions - ANSWER A business that owns primarily financial assets, such as stock and ...

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LOMA 281: Meeting Customer Needs with Insurance

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Assume you're applying for a life insurance policy. During his presentation, the insurance agent makes the following statements. Are they all true? (Select all that apply.) a. People buy insurance to reduce the financial risk they face but not every type of risk is insurable. b. both pure ris...

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LOMA 281 Module 1 Lesson 2 100% ACCURATE

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Financial services industry - ANSWER An industry in which financial institutions help people, businesses, and governments with their asset accumulation, asset management, and asset protection needs Financial institutions - ANSWER A business that owns primarily financial assets, such as stock and ...

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