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WFG EXAM
WFG EXAM VERIFIED QUESTIONS AND ANSWERS 100% 2024
[Show more]WFG EXAM VERIFIED QUESTIONS AND ANSWERS 100% 2024
[Show more]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 - "Participating". 
Participating policies give the policyowner the right to 
share in the insurer's surplus. 
Whi...
Preview 4 out of 135 pages
Add to cartJohn 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 - "Participating". 
Participating policies give the policyowner the right to 
share in the insurer's surplus. 
Whi...
1. An insurer enters into a contract with a third party to insure itself against losses from insurance 
policies it issues. What is this agreement called? - Reinsurance 
An insurer owned by its policyholders is called a - Mutual insurer 
AAA insurance company has transferred a portion of it's loss...
Preview 4 out of 31 pages
Add to cart1. An insurer enters into a contract with a third party to insure itself against losses from insurance 
policies it issues. What is this agreement called? - Reinsurance 
An insurer owned by its policyholders is called a - Mutual insurer 
AAA insurance company has transferred a portion of it's loss...
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 medica...
Preview 2 out of 12 pages
Add to cartWhich 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 medica...
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 contrac...
Preview 2 out of 10 pages
Add to cartIf 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 contrac...
1x sold
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 possibili...
Preview 3 out of 27 pages
Add to cartWhat 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 possibili...
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