WFG License Practice Questions and Answers | 2023/2024 exam
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Course
WFG License Practice
Institution
WFG License Practice
WFG License Practice Questions and Answers | 2023/2024 exam
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?
An insurer selling without a license would be guilty of which of the following?
WFG License Practice Questions and Answers | 2023/2024 exam
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? -Answ- Accelerated benefits
All of the following are classified as life activities by the ADA (Americans
with Disabilities Act) EXCEPT: -Answ- Driving
An insurer selling without a license would be guilty of which of the
following? -Answ- A misdemeanor
The enrollee pays what percentage of the premium for Medicare Part B? -
Answ- 100%
An insurer created to cover a parent company's loss exposures and owned
by the parent company is a: -Answ- Captive insurer
An organization will be ineligible to hold a license for all of the following
reasons EXCEPT: -Answ- Termination of a key employee
Agents should act in a fiduciary duty on their client's behalf. Which of the
following best describes this duty? -Answ- Quickly sending a premium to
the home office on behalf of the insured
A beneficiary which can be changed by the insured without his or her
consent is a: -Answ- Revocable beneficiary
In regards to Medicare Supplements, which of the following is true? -Answ-
Insurers can offer policies that include only the core benefits
Prescription drug plans generally cover all of the following EXCEPT -
Answ- Immunization agents
KAS and Associates is an agency which represents RWS Insurance
Corporation. KAS and Associates may leave the
,name KAS Insurance Corporation in its advertisements by clearly stating
the relationship between the two businesses in
any of the following ways EXCEPT: -Answ- KAS and Associates
underwriting for RWS Insurance Corporation
A co-insurance clause in a health insurance policy requires which of the
following? -Answ- After the deductible, the insurer and insured will share
the remainder of the loss on a fixed percentage
basis
An agent's license is considered to be inactive in which of the following
situations? -Answ- The license has been renewed and all appointments
have been terminated
An insurer can legally use all of following factors when determining a rate
EXCEPT: -Answ- Nationality
Which of the following is a form of ordinary life insurance? -Answ- Whole
life
Loss retention is a risk management technique that is effective when all the
following exist EXCEPT: -Answ- The chance of loss is unknown
In which of the following settlement options will the insurer only pay the
death benefit earnings to the beneficiary? -Answ- Interest
All of the following are true in regards to dividends EXCEPT: -Answ-
Policies which are non-par pay large dividends
The additional premium charged to pay for the accidental death benefit
rider increases the cash value of the policy. -Answ- False
An insurer organized under the laws of California is a: -Answ- Domestic
insurer
COBRA allows continuation for a maximum period of how long? -Answ-
36 months
HMOs try to contain costs by stressing: -Answ- Preventative care
, All of the following statements regarding dividends are false EXCEPT: -
Answ- The policy owner generally selects the dividend option at the time of
purchase
An individual purchased an annuity 15 years ago and plans on retiring in
four years. In order to determine the value of
the annuity, he or she must multiply the number of accumulation units by
the value of an accumulation unit in the
separate account. What type of annuity is this? -Answ- Variable annuity
An agent selling long-term care to a prospect owes the prospect all of the
following EXCEPT: -Answ- Compassion
Pamela is injured at work and taken to the hospital where she is provided
care for several weeks. Her employer
provides her with a non-occupational group health insurance plan. This
policy will not cover Pamela's care because: -Answ- This is an
occupational injury
Under the CIC, a life agent is: -Answ- An insurance agent
All of the following are private insurers EXCEPT: -Answ- Reinsurers
Which of the following is/are true regarding the taxation of life insurance? -
Answ- Death benefits are usually exempt from taxation
All of the following are considered to be ordinary life insurance EXCEPT: -
Answ- Group life
How many Medicare Supplements are there? -Answ- 10 and 2 high
deductible
An employer would purchase key person life insurance on a valued
employee for which of the following reasons? -Answ- To cover lost
earnings due to the death of the valued employee
Which of the following risk categories would result in the lowest premium
being charged? -Answ- Preferred
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