100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Webce Insurance test Questions and Correct Answers the Latest Update and Recommended Versio $15.49   Add to cart

Exam (elaborations)

Webce Insurance test Questions and Correct Answers the Latest Update and Recommended Versio

 7 views  0 purchase
  • Course
  • Webce insurance
  • Institution
  • Webce Insurance

Agent Thompson received a letter from the Department of Insurance asking her to provide proof of completing the continuing education requirements. Within how many days must Agent Thompson respond to the Department's inquiry? 20 30 10 45 10 days Abby lives in Ohio, where she is licensed a...

[Show more]

Preview 4 out of 111  pages

  • October 24, 2024
  • 111
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Webce insurance
  • Webce insurance
avatar-seller
TestTrackers
TestTrackers: Unlock Your Exam Potential! | Quality Practice Materials | Boost Your Confidence Today!



Webce Insurance test Questions and
Correct Answers the Latest Update and
Recommended Version
Agent Thompson received a letter from the Department of Insurance asking her to provide

proof of completing the continuing education requirements. Within how many days must Agent

Thompson respond to the Department's inquiry?




20

30

10

45

✓ 10 days


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 in Pennsylvania.

She must show her Ohio license is in good standing.

✓ She must show her Ohio license is in good standing


|
✓ Thank You for Choosing Us! ✓ Resources & Updates: [Testtrackers - Stuvia US]
✓ © 2024 TestTrackers ✓ Your Success is Our Mission!
✓ Customer Support: [+254707240657]

, TestTrackers: Unlock Your Exam Potential! | Quality Practice Materials | Boost Your Confidence Today!


The requirement that an insurable interest must exist when life insurance is purchased is

intended to prevent people from doing which of the following?




using life insurance to fund future cash needs

using life insurance as a speculative investment on another person's

life

overusing life insurance

designating an ineligible person as the policy beneficiary

✓ using life insurance as a speculative interest on another person's life


Which one of the following best describes a policy that has a relatively low face amount and

has premiums that are paid to an insurance agent who generally calls on the policyowner at

home to collect them?




group life insurance

industrial life insurance

ordinary term insurance

ordinary whole life insurance

✓ industrial life insurance


Sylvia's insurer guarantees a fixed death benefit for the policy she owns. Based on this, which

one of the following benefits is also most likely guaranteed with this policy?

|
✓ Thank You for Choosing Us! ✓ Resources & Updates: [Testtrackers - Stuvia US]
✓ © 2024 TestTrackers ✓ Your Success is Our Mission!
✓ Customer Support: [+254707240657]

, TestTrackers: Unlock Your Exam Potential! | Quality Practice Materials | Boost Your Confidence Today!




the policy's cash value

her ability to borrow an interest-free loan from the cash value

policy dividends

payment of premiums on Sylvia's behalf in the event of emergencies

✓ the policy's cash value


Carl is a policyowner who prefers to pay premiums monthly rather than annually. How will

Carl's insurance company adjust his premium to accommodate this request?




The insurer divides the annual premium by 12 and then adds a modest charge.

The insurer simply divides the annual premium by 12.

The insurer divides the annual premium by 12 and then reduces the premium amount to reflect

the fact that premiums will be paid throughout the year.

The insurer divides the annual premium by 12 and then adds a modest charge in the first

policy year after which premiums equal the annual premium divided by 12.

✓ The insurer divides the annual premium by 12 and then adds a modest charge


All of the following statements about key person life insurance are correct, EXCEPT:




The business applies for, owns, and is the beneficiary of the policy covering the life of a key

employee.

|
✓ Thank You for Choosing Us! ✓ Resources & Updates: [Testtrackers - Stuvia US]
✓ © 2024 TestTrackers ✓ Your Success is Our Mission!
✓ Customer Support: [+254707240657]

, TestTrackers: Unlock Your Exam Potential! | Quality Practice Materials | Boost Your Confidence Today!


Upon the insured employee's death, the employee's surviving family receives the policy's

death benefit.

Key person, or key employee, life insurance is an example of third-party ownership.

Life insurance used as key person life is normally owned by the business rather than the

insured.

✓ XXX Upon the insured employee's death, the employee's surviving family receives the
policy benefit XXX


The activities a producer performs to support the insurance company in learning all it can

about the applicant when seeking applications for insurance are generally called:




field underwriting

fiduciary process

agency development

due diligence

✓ field underwriting


How is increasing term life insurance normally sold?




as an endorsement

as a permanent insurance policy

as a stand-alone term life insurance policy


|
✓ Thank You for Choosing Us! ✓ Resources & Updates: [Testtrackers - Stuvia US]
✓ © 2024 TestTrackers ✓ Your Success is Our Mission!
✓ Customer Support: [+254707240657]

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller TestTrackers. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $15.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$15.49
  • (0)
  Add to cart