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WEBCE TESTS COMPILATION BUNDLE

WEBCE TESTS COMPILATION BUNDLE

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WebCE STUDY| 54 QUESTIONS| WITH COMPLETE SOLUTIONS

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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 in...

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webce test| 115 questions| WITH COMPLETE SOLUTIONS

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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 t...

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Iowa Casualty Practice Exam 100 questions (WEBCE) with complete solutions

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An insured would be prudent to rely upon health insurance to cover injuries sustained in an auto accident because medical payments coverage under a personal auto policy. (PAP CORRECT ANSWERS: has relatively low limits If a group of insureds are rated by class, they will CORRECT ANSWERS: be char...

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WebCe/P&C/HO/Dwelling/Commercial Policies questions with complete solutions

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Homeowners Policy Coverage A CORRECT ANSWERS: Dwelling: Insureds house and attached structures, attached garage and/or toolshed/construction materials on or next to dwelling. Homeowners Policy Coverage B CORRECT ANSWERS: Other structures: Structures not attached to dwelling, detached garage, ga...

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WebCe, Property & Casualty, Terminology-Fill in the Blank- 80 questions with complete solutions

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What is difference between a Stated Amount and an Agreed Value? CORRECT ANSWERS: Methods lies in the benefit amount that is actually paid out if the insured object is destroyed or stolen. Stated - pays the lesser of the listed dollar amount or the objects cash or replacement value. Agreed - Pays th...

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Webce life health Florida Exam| 281 questions| with complete solutions

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Rory's parents offered to buy him a new car to take to college, but Rory turned them down because he was afraid the car would be stolen or damaged if he parked it on campus. In deciding not to own a car, what risk management technique did Rory employ? CORRECT ANSWERS: risk avoidance Which of th...

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WebCe - Commercial Properties| 55 questions| with complete solutions

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A tornado severely damages one of Major Manufacturing's plants. As a result of the damage, Major Manufacturing is forced to curtail its operations during the 6 months needed to complete repairs. The resulting loss of income suffered by Major Manufacturing is referred to as CORRECT ANSWERS: a time ...

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WebCE Practice Quiz questions with complete solutions

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1. The ethical principle, "Place the interests of others above your own," is an example of CORRECT ANSWERS: b. positive actions or results-based ethics 2. Your sister escaped from an abusive husband and is hiding in your basement when her husband knocks on your door, brandishes a pistol, and a...

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WebCe, Property & Casualty - HO Types, Part 1 (matching)

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Homeowners Coverage Forms: HO-1 Homeowners Coverage Forms: HO - 2 CORRECT ANSWERS: Broad Form. Dwelling, other structures, personal property on named perils basis. Loss of use, personal liability, medical payments. Homeowners insurance policy that provides insurance coverage on the "named-peril...

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LTC-WEBCE questions with complete solutions

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What is the form of LTC that is non-medical and involving the most private and intimate aspects of a person's life - personal hygiene, dressing, and toileting? CORRECT ANSWERS: Custodial Care Custodial Care provides these "low-tech" services that are designed to minimize, rehabilitate, or com...

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WebCe - Commercial Lines 101 questions with complete solutions

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What is the underwriter's goal? CORRECT ANSWERS: To write a book of business in which the actual losses approximate the expected losses. Gertrude is going to become an insurance agent. She would like to work in an agency that represents many different insurance companies. Gertrude will go to wo...

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extra questions for WebCE with complete solutions

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Which of the following is characteristic of Virginia's Long-Term Care Insurance Partnership program? CORRECT ANSWERS: both I and II John's long-term care insurance partnership policy lapsed for nonpayment of premiums while he was confined in a nursing home. His coverage for that nursing home c...

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WEBCE Practice Exam 100 questions with complete solutions

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In general, what is the earliest age at which a person can take a distribution from a qualified plan without a tax penalty? CORRECT ANSWERS: 59 1/2 Carol was 35 when she bought her deferred annuity. Now, at age 38, she wants to withdraw funds from the contract to take a vacation. Carol is likely...

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WebCE Quizzes: General Insurance & Life Insurance| 90 pages- 440 questions| with complete solutions

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Buying life or health insurance is an example of which risk management technique? risk avoidance risk reduction risk retention risk transfer CORRECT ANSWERS: risk transfer What is the mathematical concept of probability that helps insurers estimate the statistical likelihood of mortality o...

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WebCE Test 1| 150 questions| with complete solutions

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Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrender her Ohio license. She must be sponsored by a producer licens...

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WebCE Exam Tutor| 400 questions| with complete solutions| 76 pages| with complete solutions

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All of the following are eligible to purchase a group life insurance policy EXCEPT: the Wonderful Widget Company, which employs more than 200 people the State Electrical Workers Union the Retailers Multiple Employer Trust, formed by two retailers to purchase insurance for their employees Stan ...

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WebCe – Ethics| 60 questions| with complete solutions

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You have been invited to your niece's wedding reception, and the invitation requests an RSVP. You really don't want to go, and you could simply decline the invitation. But you respond that you will be in attendance, and you check her bridal registry to select an appropriate gift to bring. Your dec...

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Webce Life and Health| 281 questions| with complete solutions

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Representations and Warranties CORRECT ANSWERS: Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments CORRECT ANSWERS...

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Insurance webce| 117 questions| with complete solutions

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risk CORRECT ANSWERS: Chance of loss Pure risk CORRECT ANSWERS: If it's pure you can insure Speculative riak CORRECT ANSWERS: Loss or gain peril CORRECT ANSWERS: The cause of loss Life insurance peril CORRECT ANSWERS: Death Health insurance peril CORRECT ANSWERS: Illness, accid...

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WebCE Flash questions and answers verified

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Indirect Loss CORRECT ANSWERS: A secondary loss that follows from a direct loss to insured property from a covered peril. Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. Exclusive Agency System CORRE...

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Annuity – WebCE (WebCE GA Annuity) questions with complete solutions

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Annuitization is CORRECT ANSWERS: Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? CORRECT ANSWERS: A specified term of years, for life, or a combination of the two. What is the reason (how has a consumer's prioriti...

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Life and Health Insurance Exam Webce| 180 questions| with complete solutions

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Risk CORRECT ANSWERS: Chance of loss Loss CORRECT ANSWERS: Unplanned reduction of economic value Peril CORRECT ANSWERS: cause of loss Hazard CORRECT ANSWERS: a condition that increases the chance of peril Risk Transfer CORRECT ANSWERS: buying insurance to shift the risk to insurance...

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WebCE Property & Casualty Prep Exam questions with complete solutions

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Risk CORRECT ANSWERS: Chance of loss 5 Risk or Loss Factors CORRECT ANSWERS: 1. Risk 2. Loss 3. Exposure 4. Peril 5. Hazard Insurance allows: CORRECT ANSWERS: Individual or group to transfer over to insurance company the risk of financial loss from a destructive event Fundamental purpose...

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WEBCE quiz questions with complete solutions

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Risk CORRECT ANSWERS: chance of loss Loss CORRECT ANSWERS: an unplanned reduction in economic value What risk is insurable? CORRECT ANSWERS: pure risk What are the two types of risk? CORRECT ANSWERS: pure risk and speculative risk Involves the possibility of a loss? CORRECT ANSWERS:...

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