Wv state life insurance Study guides, Class notes & Summaries

WV State Life Insurance Exam 2024/2025 Questions With Completed & Verified Solutions.

A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a: ~: Risk retention group Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated? ~: 1970-Fair Credit Reporting Act Q purchases a $500,000 life insurance policy and pays $900 in premiums over the first six months. Q dies suddenly and the beneficiary is paid $500,000. This exchange of unequal values refl...

WV State Life Insurance Exam A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a: - Answer- Risk retention group Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated? - Answer- 1970-Fair Credit Reporting Act Q purchases a $500,000 life insurance policy and pays $900 in premiums over the first six months. Q dies suddenly and the beneficiary is paid $500,0...

WV Life Insurance Questions and Answers Already Passed The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive? $100,000 The dividend option in which the policyowner uses dividends to p...

WV STATE LIFE INSURANCE EXAM WITH 170+ QUESTIONS AND CORRECT ANSWERS ALREADY GRADED A+ 2024 UPDATE

WV Insurance Exam Study Guide with Complete Solution

Up to the policy limit - ANSWER If insurance fails to notify the mortgage that the policy is canceled and there is a fire loss, what could the mortgage company collect? Official Used Car Guide Amount - ANSWER Which amount would be paid on a Total Loss Vehicle? No - ANSWER Can an adjuster give legal advice?

The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive? - ANSWER $100,000 The dividend option in which the policyowner uses dividends to purchase a term policy for one year is referred to as ...

WV LIFE INSURANCE LAW FINAL EXAM WITH CORRECT ANSWERS Fraternal Benefit Societies - Incorporated society, order, or supreme lodge, without capital stock, that operates solely for the benefit of its members and under a lodge system with a ritualistic form of work and benefit packages are only sold to members of the society Reinsurance - The act of one insurer selling part of a policy to another insurer where the original insurer is called the ceding company, and the purchasing ins...

WV STATEVINSURANCE EXAM QUESTIONS AND CORRECT ANSWERS LATEST UPDATEWV STATE LIFE IA group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a: - ------------correct answer----------------Risk retention group Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated? - ------------correct answer----------------1970-Fair Credit Reporting Act Q purchases a $500,000 l...