100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Webce exam (actual exam)questions,answers 2024 – 2025 $12.99   Add to cart

Exam (elaborations)

Webce exam (actual exam)questions,answers 2024 – 2025

 10 views  0 purchase
  • Course
  • Webce
  • Institution
  • Webce

Webce exam (actual exam)questions,answers 2024 – 2025

Preview 3 out of 28  pages

  • September 12, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • webce
  • Webce
  • Webce
avatar-seller
NurseLNJ
Webce exam (actual
exam)questions,answers 2024 – 2025




A disadvantage to using a conventional deferred annuity to fund late-life long-
term care needs is that the contract must be annuitized, and payments must be
made over a stated number of years or for life.

A) True

B) False - ANSWERS-B) False



A deferred annuity does not have to be annuitized. Owners can access all or a
portion of the contract's funds through lump-sum or partial withdrawals.
However, withdrawals do not receive the same tax-advantaged treatment that
annuitiation is given.



All of the following apply to life insurance policies that accelerate benefits for
both chronic illness and qualified long-term care EXCEPT:

,A) To qualify for for the accelerated benefit, the insured must be unable to
perform at least two ADLs or suffer from severe cognitive impairment.

B) The benefit is provided through accelerating payment of the policy's death
benefit.

C) The policyowner can elect to accelerate all, some, or none of the available
benefit if the insured qualifies.

D) The benefit must be paid as a reimbursement benefit, not an indemnity
benefit. - ANSWERS-D) The benefit must be paid as a reimbursement benefit, not
an indemnity benefit.



Accelerated benefits for chronic illness must be paid out as an indemnity;
accelerated benefits for qualified long-term care can pay as either an indemnity
or as a reimbursement.



In a reverse mortgage, a homeowner receives money from the lender.

A) True

B) False - ANSWERS-A)True



The homeowner receives money from the lender based on the home's appraised
value. Collateral has already been established by the equity in the home.



All of the following are sound reasons for purchasing life insurance EXCEPT:

A) Ensuring the financial security of a spouse, children, and other family members

B) preserving an estate

, C) funding anticipated LTC expenses

D) clearing up outstanding debt owned by the decedent - ANSWERS-C) Funding
anticipated LTC expenses



An LTCI policy is more appropriate for meeting long-term care expenses than
purchasing a life insurance policy, which is better suited for providing financial
security for surviving family members



Because taking a withdrawal from the cash value of a life insurance policy is
always a taxable event, this technique should NOT be used to fund long-term care
needs.

A) True

B) False - ANSWERS-B) False



As long as the insurance policy meets the definition of an insurance policy meets
the definition of an insurance policy and not a MEC, a policy withdrawals are not
taxable unless and until the withdrawn amount exceeds premiums paid.



A hybrid annuity combines a fixed deferred annuity product with which of the
following?

A) life insurance

B) an HSA account

C) a long-term care rider

D) a tax-free - ANSWERS-C) A long-term care rider

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller NurseLNJ. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

80202 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.99
  • (0)
  Add to cart