Wfg license - Study guides, Class notes & Summaries

WFG License Exam (Life, Insurance, Accident) Questions With 100% Correct Answers insurance - answercontract whereby one undertakes to idemnify [restore before loss] another against loss, damage, liability from contingency [unknown/ unplanned events] indemnify Give Example. - answerrestore person to some financial position before loss has occurred to make someone whole EX: If someone passes, that lost of income is covered by life insurance (percentage of what is covered depends on plan o...

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? - Accelerated benefits All of the following are classified as life activities by the ADA (Americans with Disabilities Act) EXCEPT: - Driving An insurer selling without a license would be guilty of which of the following? - A misdemeanor The enrollee pays what percentage of the premium for Medicare Part B? - 100% An insurer created to cover a parent...

Any situation that presents the possibility of a loss is known as - a loss exposure Making an insured whole by restoring them to the same condition as before a loss is an example of - the principle of indemnity What is a requirement of a contract? - there must be offer and acceptance of the contract terms What are the benefits of insurance - provides a source of investment funds provides payment for the costs of covered losses reduces the uncertainty created by many loss exposures

WFG LICENSE PRACTICE EXAM QUESTIONS WITH 100% CORRECT ANSWERS!!

gible to hold a license for all of the following reasons EXCEPT: - answerTermination of a key employee Agents should act in a fiduciary duty on their client's behalf. Which of the following best describes this duty? - answerQuickly 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: - answerRevocable beneficiary In regards to Medicare Supplements, which of the following is true? - answerInsurers ...

WFG LICENSE PRACTICE EXAM QUESTIONS WITH 100% CORRECT ANSWERS!!

policy owner must have insurable INTEREST at time of application can NOT be FORCED or insurance will be voided representation - Correct Answer ️️ -statements made by a person on an application for life insurance that are believed to be true to the best of one's knowledge the only time it can be withdrawn is before the insurance is in effect (usually 5-8 weeks AFTER signing) NOT warranty How long does policy owner have to withdraw any representation made on application of life insura...

WFG License Practice Questions and answers 2023

WFG License Exam (Life, Insurance, Accident) Already Rated A+ insurance contract whereby one undertakes to idemnify [restore before loss] another against loss, damage, liability from contingency [unknown/ unplanned events] indemnify Give Example. restore person to some financial position before loss has occurred to make someone whole EX: If someone passes, that lost of income is covered by life insurance (percentage of what is covered depends on plan of insurance purchased before ...

Accelerated benefits - 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? Driving - All of the following are classified as life activities by the ADA (Americans with Disabilities Act) EXCEPT: A misdemeanor - An insurer selling without a license would be guilty of which of the following? 100% - The enrollee pays what percentage of the premium for Medicare Part B?