WFG EXAM QUESTIONS AND ANSWERS 100% PASS
Which of the following is true in regard to health insurance issued on a group basis?
a. All eligible members must be covered under a "non-contributory" group health plan
b. All eligible members must be covered under a "contributory" group health plan
c....
WFG EXAM QUESTIONS AND ANSWERS 100% PASS Which of the following is true in regard to healt h insurance issued on a group basis? a. All eligible members must be covered under a "non -contributory" group health plan b. All eligible members must be covered under a "contributory" group health plan c. No less than 50% of the eligible employees must e lect to participate in the plan if it is considered a "contributory" plan d. No less than 75% of the eligible employees must elect to participate in the plan if it is considered a "non -contributory" plan - Correct Answer ✔️✔️-a. All eligible members must be covered under a "non -contributory" group health plan If the owner of a life insurance policy has a payment term of is annually, which of the following statement is true? a. The premium is the same if pay monthly b. Pay more on quarterly than semi -annua lly c. Pay more semi -annual than annually d. Pay a reduced amount if paid earlier in the year rather than at the end of the period of coverage, as it is customary - Correct Answer ✔️✔️-c. Pay more semi -annual than annually In order to qualify to sell LTC i nsurance in the state of California, agent must comply with all of the following EXCEPT a. All licensees are required to pass a LTC knowledge exam every 10 years b. For licenses issued after Jan 1, 1982, 8 hours of training for the first 4 12 -month period from dat of license issuance, then 8 hours prior to each renewal c. Non -resident licensees file with the Insurance Commissioner and have Commissioner approve education requirement d. Eight hours prior to renewal for licenses issued prior to January 1, 19 - Correct Answer ✔️✔️-a. All licensees are required to pass a LTC knowledge exam every 10 years Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), which of the follow ing is a qualifying event? a. Promotion b. Divorce c. Marriage d. Relocation - Correct Answer ✔️✔️-b. Divorce Unless it is merely a statement of an expectation or a belief, a representation as to the future is considered which of the following? a. Promis e b. Provision c. Liability d. Description - Correct Answer ✔️✔️-a. Promise Which insurance policy pays on the death of the second insured? a. Promise b. Provision c. Liability d. Description - Correct Answer ✔️✔️-a. Promise Which of the following describ es an insurer who has enough financial resources only to provide for all of its liabilities and for all reinsurance of all outstanding risk? a. Guaranteed b. Insolvent c. Solvent d. Nonparticipating - Correct Answer ✔️✔️-b. Insolvent An individual with lo w income and high insurance need should buy? a. Whole life insurance b. Universal life insurance c. Endowment insurance d. Term insurance - Correct Answer ✔️✔️-d. Term insurance The Pregnancy Discrimination Act has which of the following effect? a. Pregnancy can be excluded from coverage b. Pregnancy must be covered by with lower benefits than other conditions c. The employer must provide at least 4 weeks of paid leave with health benefits after delivery d. Pregnancy must be treated the same as an y other condition - Correct Answer ✔️✔️-d. Pregnancy must be treated the same as any other condition All of the following statement about contingent beneficiaries are true EXCEPT a. They receive remaining payments to be made under a settlement agreement u pon the primary beneficiary's death b. The contingent beneficiary shares death proceeds equal to the primary beneficiary c. They receive death proceeds if the primary beneficiary is deceased at the time of the insured's death d. More than one contingency b eneficiary may be named - Correct Answer ✔️✔️-c. They receive death proceeds if the primary beneficiary is deceased at the time of the insured's death A measure for rating an individual's need for LTC benefit is called a. Case management b. Activities of daily living c. The gatekeeper mechanism d. Co -insurance - Correct Answer ✔️✔️-b. Activities of daily living Due to the Affordable Care Act, at what age can dependent adult child stay on the family health plan?
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