Wfg life insurance exam - Study guides, Class notes & Summaries
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WFG Final Exam Actual Questions and Answers 2023-2024 Test Bank Rated A+
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WFG Final Exam Actual Questions and Answers Test Bank Rated A+
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WFG Final Exam Questions With 100% Correct Answers
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WFG Final Exam Questions With 100% 
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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 ...
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WFG License Practice Exam Questions With 100% Correct Answers
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WFG License Practice Exam Questions With 
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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? - answerAccelerated benefits 
All of the following are classified as life activities by the ADA (Americans with Disabilities Act) 
EXCEPT: - answerDriving 
An insurer selling without a license would be guilty of which of the following? - answerA 
misdemeanor 
The enrollee pays what percentag...
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License Test (WFG) Exam Questions And Answers (Verified And Updated)
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License Test (WFG) Exam Questions And 
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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...
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WFG Exam Study Questions And Answers (Verified And Updated)
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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...
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WFG Exam Questions With 100% Correct Answers
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WFG Exam Questions With 100% 
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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,...
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WFG Exam Questions & Answers | 280 Questions with 100% Correct Answers | Latest Update | Verified
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WFG Exam Questions & Answers | 280 
Questions with 100% Correct Answers | 
Latest Update | Verified 
What is meant by referring to an insurance policy as a unilateral 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 time 
Any situation that presents that possibility of a loss is known as - a loss exposure 
Which of the following information is not required to be ...
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WFG Exam Prep Questions | 100 Questions with 100% Correct Answers | Latest Update | Verified
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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 
col...
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WFG Life Insurance Exam Questions With Verified Answers
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WFG Life Insurance Exam Questions With 
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Which of the following would be considered a nonmedical insurance application? 
a) An application that does not ask any questions about the applicant's medical history 
b) An application submitted with the Agent's Report 
c) Any application for life insurance 
d) An application on which the medical information is completed by the applicant and the agent 
only - answerd) An application on which the medical information is completed by the...
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WFG Life Insurance EXAM Questions with 100% Correct Answers
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Which of the following is the closest term to an "authorized" insurer? 
a) Certified 
b) Licensed 
c) Legal 
d) Admitted - d) Admitted
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