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WFG License Practice questions n correct answers
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WFG License Practice questions n correct answers
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WFG License Practice questions ncorrect answers
Accelerated benefits - correct answer ✔✔If the insured has a terminal illness, which provision would
allow him or her to access a portion of the policy death
benefit prior to death?
Driving - correct answer ✔✔All of the following are classified as life activities by the ADA (Americans
with Disabilities Act) EXCEPT:
A misdemeanor - correct answer ✔✔An insurer selling without a license would be guilty of which of the
following?
100% - correct answer ✔✔The enrollee pays what percentage of the premium for Medicare Part B?
Captive insurer - correct answer ✔✔An insurer created to cover a parent company's loss exposures and
owned by the parent company is a:
Termination of a key employee - correct answer ✔✔An organization will be ineligible to hold a license for
all of the following reasons EXCEPT:
Quickly sending a premium to the home office on behalf of the insured - correct answer ✔✔Agents
should act in a fiduciary duty on their client's behalf. Which of the following best describes this duty?
Revocable beneficiary - correct answer ✔✔A beneficiary which can be changed by the insured without
his or her consent is a:
Insurers can offer policies that include only the core benefits - correct answer ✔✔In regards to Medicare
Supplements, which of the following is true?
,Immunization agents - correct answer ✔✔Prescription drug plans generally cover all of the following
EXCEPT
KAS and Associates underwriting for RWS Insurance Corporation - correct answer ✔✔KAS and Associates
is an agency which represents RWS Insurance Corporation. KAS and Associates may leave the
name KAS Insurance Corporation in its advertisements by clearly stating the relationship between the
two businesses in
any of the following ways EXCEPT:
After the deductible, the insurer and insured will share the remainder of the loss on a fixed percentage
basis - correct answer ✔✔A co-insurance clause in a health insurance policy requires which of the
following?
The license has been renewed and all appointments have been terminated - correct answer ✔✔An
agent's license is considered to be inactive in which of the following situations?
Nationality - correct answer ✔✔An insurer can legally use all of following factors when determining a
rate EXCEPT:
Whole life - correct answer ✔✔Which of the following is a form of ordinary life insurance?
The chance of loss is unknown - correct answer ✔✔Loss retention is a risk management technique that
is effective when all the following exist EXCEPT:
Interest - correct answer ✔✔In which of the following settlement options will the insurer only pay the
death benefit earnings to the beneficiary?
Policies which are non-par pay large dividends - correct answer ✔✔All of the following are true in
regards to dividends EXCEPT:
False - correct answer ✔✔The additional premium charged to pay for the accidental death benefit rider
increases the cash value of the policy.
, Domestic insurer - correct answer ✔✔An insurer organized under the laws of California is a:
36 months - correct answer ✔✔COBRA allows continuation for a maximum period of how long?
Preventative care - correct answer ✔✔HMOs try to contain costs by stressing:
The policy owner generally selects the dividend option at the time of purchase - correct answer ✔✔All
of the following statements regarding dividends are false EXCEPT:
Variable annuity - correct answer ✔✔An individual purchased an annuity 15 years ago and plans on
retiring in four years. In order to determine the value of
the annuity, he or she must multiply the number of accumulation units by the value of an accumulation
unit in the
separate account. What type of annuity is this?
Compassion - correct answer ✔✔An agent selling long-term care to a prospect owes the prospect all of
the following EXCEPT:
This is an occupational injury - correct answer ✔✔Pamela is injured at work and taken to the hospital
where she is provided care for several weeks. Her employer
provides her with a non-occupational group health insurance plan. This policy will not cover Pamela's
care because:
An insurance agent - correct answer ✔✔Under the CIC, a life agent is:
Reinsurers - correct answer ✔✔All of the following are private insurers EXCEPT:
Death benefits are usually exempt from taxation - correct answer ✔✔Which of the following is/are true
regarding the taxation of life insurance?
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