Webce insurance exam - Study guides, Class notes & Summaries

WebCE General Insurance & Life Insurance Exam Questions and Answers Rated A+ Updated 2023/2024. Buying life or health insurance is an example of which risk management technique? risk avoidance risk reduction risk retention risk transfer - 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...

Webce Insurance Exam Questions and Verified Answers Latest 2023/2024 | Graded. The requirement that an insurable interest must exist when life insurance is purchased is intended to prevent people from doing which of the following? using life insurance to fund future cash needs using life insurance as a speculative investment on another person's life overusing life insurance designating an ineligible person as the policy beneficiary - Answer- using life insurance as a speculative interest...

webce insurance exam1. Which of the following exempted insurance companies from federal antitrust legislation? - correct answer the McCarran-Ferguson Act 2. Which of the following has primary responsibility for regulating the insurance industry? a. the states - correct answer Which statement about the NAIC is correct? - correct answer The NAIC prepares model laws, regulations, and guidelines for adoption by the states. 4. The NAIC issued a model law on long-term care insurance. Which...

which of the following situations presents a situation of pure risk? -knowing that his family is depending on him, Frank wants to insure his life -wanting to increase his retirement savings, Saul invests his life savings in the stock market -Ralph takes a second mortgage on his house and uses the proceeds to gamble -wanting better job security, Ron cashes in his life insurance to start his own business knowing that his family is depending on him, Frank wants to insure his own life only...

WEBCE Insurance Exam Questions and Answers 100% Verified WEBCE Insurance Exam Questions and Answers 100% Verified WEBCE Insurance Exam Questions and Answers 100% Verified WEBCE Insurance Exam Questions and Answers 100% Verified 1. Which of the following exempted insurance companies from federal antitrust legislation? - ANSWER-the McCarran-Ferguson Act 2. Which of the following has primary responsibility for regulating the insurance industry? a. the states - ANSWER- ...

WEBCE Insurance Exam Questions with 100% Correct Answers 1. Which of the following exempted insurance companies from federal antitrust legislation? the McCarran-Ferguson Act 2. Which of the following has primary responsibility for regulating the insurance industry? a. the states Which statement about the NAIC is correct? The NAIC prepares model laws, regulations, and guidelines for adoption by the states. 4. The NAIC issued a model law on long-term care insurance. Which statem...

WEBCE Insurance Exam Questions with 100% Correct Answers 1. Which of the following exempted insurance companies from federal antitrust legislation? the McCarran-Ferguson Act 2. Which of the following has primary responsibility for regulating the insurance industry? a. the states Which statement about the NAIC is correct? The NAIC prepares model laws, regulations, and guidelines for adoption by the states. 4. The NAIC issued a model law on long-term care insurance. Which statem...

1. Which of the following exempted insurance companies from federal antitrust legislation? correct answersthe McCarran-Ferguson Act 2. Which of the following has primary responsibility for regulating the insurance industry? a. the states correct answers Which statement about the NAIC is correct? correct answersThe NAIC prepares model laws, regulations, and guidelines for adoption by the states. 4. The NAIC issued a model law on long-term care insurance. Which statement about the model...

Which condition must exist for a risk to be considered insurable? The potential loss must be catastrophic. The potential loss must be due to a force of nature. The potential loss must happen within six months of the policy's effective date. The loss must be ascertainable. - Answer- the loss must be ascertainable