Wfg life insurance exam - Study guides, Class notes & Summaries

WFG Certification Exam - Questions and Answers (Complete Solutions) 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 its loss exposure to BBB insurance company. In this reinsurance transaction, what is AAA insurance called Primary insurers Which of the following contr...

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. No less than 50% of the eligible employees must elect to participate in the plan if it is considered a "contributory" plan d. No less than 75% of the eligible employees must elect to participa...

WFG exam study Questions with 100% Correct Solutions Speculative Risk - Correct Answer ️️ -A risk in which there is a chance of either loss or gain. Never insurable Insurance - Correct Answer ️️ -A contract whereby one undertakes to indemnify another against loss, damage, or liability arising from a contingent or unknown event. hazard - Correct Answer ️️ - Accelerated benefits - Correct Answer ️️ -Riders attached to life insurance policies which allow death benefits to be ...

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. No less than 50% of the eligible employees must elect to participate in the plan if it is considered a "contributory" plan d. No less than 75% of the eligible employees must elect to participa...

WFG Final Exam Questions and Answers 100% Correct 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 - Correct Answer ️️ -"Participating". Participating policies give the policyowner the right to share in the insurer's surplus. Which of the following is NOT a benefit of insurance? -Reduces the uncertainty of loss exposures -Losses due to fraud are elimi...

WFG Final Exam Questions With 100% Correct Answers 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 - answer"Participating". Participating policies give the policyowner the right to share in the insurer's surplus. Which of the following is NOT a benefit of insurance? -Reduces the uncertainty of loss exposures -Losses due to fraud are eliminated -Makes a ...

WFG Exam Study Questions And Answers (Verified And Updated) Speculative Risk - answerA risk in which there is a chance of either loss or gain. Never insurable Insurance - answerA contract whereby one undertakes to indemnify another against loss, damage, or liability arising from a contingent or unknown event. hazard - answer Accelerated benefits - answerRiders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. Accide...

WFG Final Exam - Questions, Answers and Rationales (Complete Solutions) 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 policies give the policyowner the right to share in the insurer's surplus. Which of the following is NOT a benefit of insurance? -Reduces the uncertainty of loss exposures -Losses due to fraud are eliminated -Makes a loss whole again ...

WFG Final Exam | 370 Questions with 100% Correct Answers | Latest Update | Verified 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. Which of the following is NOT a benefit of insurance? -Reduces the uncertainty of loss exposures -Losses due to fraud ...

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...