License wfg - Study guides, Class notes & Summaries

A policy shall specify all of the following except - Answer-The financial rating of the insurer The chance of loss without any possibility for gain is known as - Answer-Pure risk The entire contract provision on a life insurance policy states - Answer-The entire contract includes the policy and the application, if attached Insurable interest must exist: - Answer-at the time of the application All of the following would be considered to be ordinary life insurance except: - Answer-Group All ...

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 Exam Questions With 100% Correct Answers If an agent fails to obtain an applicant's signature on the application, the agent must - answerReturn the application to the applicant for a signature Why should the producer deliver the policy when the first premium has already been paid? - answerTo help the insured understand all aspects of the contract. Most agents try to collect the initial premium for submission with the application. When an agent collects the initial from the applicant,...

License Test (WFG) Exam Questions And Answers (Verified And Updated) A policy shall specify all of the following except - answerThe financial rating of the insurer The chance of loss without any possibility for gain is known as - answerPure risk The entire contract provision on a life insurance policy states - answerThe entire contract includes the policy and the application, if attached Insurable interest must exist: - answerat the time of the application All of the following would be co...

WFG Exam Prep Questions | 100 Questions with 100% Correct Answers | Latest Update | Verified If an agent fails to obtain an applicant's signature on the application, the agent must - Return the application to the applicant for a signature Why should the producer deliver the policy when the first premium has already been paid? - To help the insured understand all aspects of the contract. Most agents try to collect the initial premium for submission with the application. When an agent collects...

What is meant by referring to an insurance policy as a uliteral contract? - Only one party makes a legally enforceable promise When must insurance records of insurance agents and brokers be made available to the insurance commissioner? - At all times Any situation that presents the possibility of a loss is known as... - A loss exposure Which of the following information is not required to be communicated with a life insurance contract? - Personal judgment Directed ration of insurance utilize...

WFG Exam Questions With 100% Correct Answers If an agent fails to obtain an applicant's signature on the application, the agent must - answerReturn the application to the applicant for a signature Why should the producer deliver the policy when the first premium has already been paid? - answerTo help the insured understand all aspects of the contract. Most agents try to collect the initial premium for submission with the application. When an agent collects the initial from the applicant,...

Matt would like to begin collecting payments from his tax-deferred annuity. If he elects the life income with 10 year period certain option, the insurer will make payments for how long? - At least 120 months regardless of when he dies If an individual health insurance policy is guaranteed renewable, what does the insurer have the right to do? - Make a modification to premiums charged by class

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