License wfg Study guides, Class notes & Summaries

WFG LICENSE PRACTICE EXAM QUESTIONS WITH 100% CORRECT ANSWERS!!

insurance - Answer-contract whereby one undertakes to idemnify [restore before loss] another against loss, damage, liability from contingency [unknown/ unplanned events] indemnify Give Example. - Answer-restore person to some financial position before loss has occurred to make someone whole EX: If someone passes, that lost of income is covered by life insurance (percentage of what is covered depends on plan of insurance purchased before incident) contingency - Answer-unknown/ unplanned ev...

WFG EXAM QUESTIONS AND ANSWERS 100% PASS Which of the following is true in regard to health insurance issued on a group basis? a. All eligible members must be covered under a "non-contributory" group health plan b. All eligible members must be covered under a "contributory" group health plan c. No less than 50% of the eligible employees must elect to participate in the plan if it is considered a "contributory" plan d. No less than 75% of the eligible employees must elect to participa...

License Test (WFG) 100% Correct Solved A policy shall specify all of the following except - Correct Answer ️️ -The financial rating of the insurer The chance of loss without any possibility for gain is known as - Correct Answer ️️ - Pure risk The entire contract provision on a life insurance policy states - Correct Answer ️️ -The entire contract includes the policy and the application, if attached Insurable interest must exist: - Correct Answer ️️ -at the time of the appli...

WFG License Exam (Life, Insurance, Accident) Already Rated A+ insurance contract whereby one undertakes to idemnify [restore before loss] another against loss, damage, liability from contingency [unknown/ unplanned events] indemnify Give Example. restore person to some financial position before loss has occurred to make someone whole EX: If someone passes, that lost of income is covered by life insurance (percentage of what is covered depends on plan of insurance purchased before ...

License Test (WFG) Exam Questions And Answers (Verified And Updated) A policy shall specify all of the following except - answerThe financial rating of the insurer The chance of loss without any possibility for gain is known as - answerPure risk The entire contract provision on a life insurance policy states - answerThe entire contract includes the policy and the application, if attached Insurable interest must exist: - answerat the time of the application All of the following would be co...

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? - Accelerated benefits All of the following are classified as life activities by the ADA (Americans with Disabilities Act) EXCEPT: - Driving An insurer selling without a license would be guilty of which of the following? - A misdemeanor The enrollee pays what percentage of the premium for Medicare Part B? - 100% An insurer created to cover a parent...

Accelerated benefits - 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 - All of the following are classified as life activities by the ADA (Americans with Disabilities Act) EXCEPT: A misdemeanor - An insurer selling without a license would be guilty of which of the following? 100% - The enrollee pays what percentage of the premium for Medicare Part B?

Any situation that presents the possibility of a loss is known as - a loss exposure Making an insured whole by restoring them to the same condition as before a loss is an example of - the principle of indemnity What is a requirement of a contract? - there must be offer and acceptance of the contract terms What are the benefits of insurance - provides a source of investment funds provides payment for the costs of covered losses reduces the uncertainty created by many loss exposures