2024 WebCE Bundled Exams with complete solution;Everything you need to pass is here

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...

Risk - Chance of loss Loss - Unplanned reduction of economic value Peril - cause of loss Hazard - a condition that increases the chance of peril Risk Transfer - buying insurance to shift the risk to insurance company Underwriting - assessing applicant to determine insurability Adverse Selectio...

What is the underwriter's goal? - 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 work for a(n) - In...

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

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 d...

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

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 licensed i...

Annuitization is - Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? - 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 annuitie...

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 - Answer C) The inability to ...

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...