Wfg life insurance exam - Study guides, Class notes & Summaries

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WFG Final Exam Questions With 100% Correct Answers John owns an insurance policy that gives him the right to share in the insurer's surplus. What kind of policy is this? -Non-participating -Contributory -Participating -Surplus - answer"Participating". Participating policies give the policyowner the right to share in the insurer's surplus. Which of the following is NOT a benefit of insurance? -Reduces the uncertainty of loss exposures -Losses due to fraud are eliminated -Makes a ...

WFG License Practice Exam Questions With 100% Correct Answers 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? - answerAccelerated benefits All of the following are classified as life activities by the ADA (Americans with Disabilities Act) EXCEPT: - answerDriving An insurer selling without a license would be guilty of which of the following? - answerA misdemeanor The enrollee pays what percentag...

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...

WFG Exam Study Questions And Answers (Verified And Updated) Speculative Risk - answerA risk in which there is a chance of either loss or gain. Never insurable Insurance - answerA contract whereby one undertakes to indemnify another against loss, damage, or liability arising from a contingent or unknown event. hazard - answer Accelerated benefits - answerRiders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. Accide...

WFG Exam Questions With 100% Correct Answers If an agent fails to obtain an applicant's signature on the application, the agent must - answerReturn the application to the applicant for a signature Why should the producer deliver the policy when the first premium has already been paid? - answerTo help the insured understand all aspects of the contract. Most agents try to collect the initial premium for submission with the application. When an agent collects the initial from the applicant,...

WFG Exam Questions & Answers | 280 Questions with 100% Correct Answers | Latest Update | Verified What is meant by referring to an insurance policy as a unilateral contract? - Only one party makes a legally enforceable promise when must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? - At all time Any situation that presents that possibility of a loss is known as - a loss exposure Which of the following information is not required to be ...

WFG Exam Prep Questions | 100 Questions with 100% Correct Answers | Latest Update | Verified If an agent fails to obtain an applicant's signature on the application, the agent must - Return the application to the applicant for a signature Why should the producer deliver the policy when the first premium has already been paid? - To help the insured understand all aspects of the contract. Most agents try to collect the initial premium for submission with the application. When an agent col...

WFG Life Insurance Exam Questions With Verified Answers Which of the following would be considered a nonmedical insurance application? a) An application that does not ask any questions about the applicant's medical history b) An application submitted with the Agent's Report c) Any application for life insurance d) An application on which the medical information is completed by the applicant and the agent only - answerd) An application on which the medical information is completed by the...

Which of the following is the closest term to an "authorized" insurer? a) Certified b) Licensed c) Legal d) Admitted - d) Admitted