Webce 2023 - Study guides, Class notes & Summaries

WEBCE Law and Ethics Update: Life, Health and Variable Annuities (215) ExamDelta Insurers appointed Joe as its agent. Can Joe let his brother, Agent Shawn, use his appointment to transact insurance? - correct answer No, Joe cannot let Shawn transact insurance by using his appointment. James is a licensed agent who lives in Florida. He moves to Georgia. By when must he notify the Department of Financial Services of his move? - correct answer within 30 days What are the responsibilities of ...

The FCRA requires insurers that seek a credit report to notify the applicant about the request within three days. The requestor must disclose what the report will cover and must notify the applicant that s/he may request a summary of what the requestor learned in the credit report. The summary must be provided within five business days of the request. Immediate Annuity - ANSWER An immediate annuity is purchased only to distribute guaranteed income. Because immediate annuities are bought with ...

Delta Insurers appointed Joe as its agent. Can Joe let his brother, Agent Shawn, use his appointment to transact insurance? correct answersNo, Joe cannot let Shawn transact insurance by using his appointment. James is a licensed agent who lives in Florida. He moves to Georgia. By when must he notify the Department of Financial Services of his move? correct answerswithin 30 days What are the responsibilities of the Office of Insurance Regulation and the Department of Financial Services? cor...

Webce Quizzes: General Insurance & Life Insurance Latest Update 2023 Buying life or health insurance is an example of which risk management technique? Risk avoidance Risk reduction Risk retention Risk transfer Correct Answer: risk transfer What is the mathematical concept of probability that helps insurers estimate the statistical likelihood of mortality or morbidity losses at any given age? Law of large numbers Underwriting principle Law of probability Actuarial principle Correct An...

WEBCE 2023 Exam Questions With Complete Solutions On what basis are benefits payable under a long-term care insurance policy typically triggered? A) the diagnosis of an acute medical condition B) the number and types of medications prescribed C) the inability to perform of medications prescribed D) all of the above - CORRECT ANSWER C) The inability to perform defined ADLs The inability to perform defined ADLs. Benefits payable under a long-term care policy are typically ba...

Annuitization is - Answer- Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? - Answer- A specified term of years, for life, or a combination of the two. What is the reason (how has a consumer's priorities and needs shifted) that annuities are well suited for late-life retirement planning? - Answer- When a consumer priorities and needs typically shift from asset accumulation to income distribution What is the sta...

Webce Life and Health QUESTIONS & ANSWERS 2023 ( A+ GRADED 100% VERIFIED)

QUESTIONS AND ANSWERS