WebCE Test 1 Questions with Verified Answers

WebCE Test 1 Questions with Verified Answers Abby lives in Ohio, where she is licensed as an insurance producer. 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 She license. She must be sponsored by a producer licensed in Pennsylvania. She must show her Ohio license is in good standing. Correct Answer: she must show her Ohio license is in good standing An annuity settlement option with a life contingency is one that: Pays annuity benefits for a specified period of time whether the annuitant lives or dies during that period. Terminates annuity benefit payments if the annuitant is alive upon reaching his or her life expectancy Continues annuity benefit payments for as long as the annuitant lives, even if it surpasses the annuitant's life expectancy Requires there to be two or more annuitants who will receive annuity benefit payments before annuitization is permitted Correct Answer: continues annuity benefit payments for as long as the annuitant lives, even if it surpasses the annuitants life expectancy Which group health plan gives employers the most flexibility in designing and arranging the plan's benefits? Experience-rated plans Community-rated plans Government issue plans Participating plans Correct Answer: experience-rated plans An insurer typically considers all of the following during the underwriting process EXCEPT: Medical history Educational background Medical exams Lab tests Correct Answer: educational background Before delivering a health insurance policy to a client, the producer alters the insuring