WFG Exam Questions with 100% Correct Answers Latest Graded A+

WFG Exam Questions with 100% Correct Answers Latest Graded
A+


Question:
Speculative Risk
Answer:
A risk in which there is a chance of either loss or gain. Never insurable


Question:
Insurance
Answer:
A contract whereby one undertakes to indemnify another against loss, damage, or liability arising
from a contingent or unknown event.


Question:
hazard
Answer:


Question:
Accelerated benefits
Answer:
Riders attached to life insurance policies which allow death benefits to be used to cover nursing or
convalescent home expenses.


Question:
Accident
Answer:
An unplanned ned, unforeseen event which occurs suddenly and at an unspecified place.


Question:
accident insurance
Answer:

,A type of insurance that protects the insured against loss due to accidental bodily injury.


Question:
Accidental Bodily Injury
Answer:
Unplanned, unforeseen traumatic injury to the body.


Question:
Accidental Death and Dismemberment
Answer:
An insurance policy which pays a specified amount or a specified multiple of the insured's benefit
if the insured dies, loses his/her sight, or loses two limbs due to an accident.


Question:
Accidental Death Benefits
Answer:
A policy rider that states the cause of death will be analyzed to determine if it complies with the
policy description of accidental death


Question:
Accidental Death insurance
Answer:
An insurance policy that provides payment if the insured's death is the result of an accident.


Question:
Accumulation Period
Answer:
The time over which the annuitant makes payments or investments in an annuity, and when those
payments earn interest tax deferred.


Question:
acquired immunodeficiency syndrome (AIDS)
Answer:

,An infectious and incurable disease caused by the human immunodeficiency virus (HIV).


Question:
activities of daily living (ADLs)
Answer:
Activo ties individuals must do every day such as moving about, getting dressed, eating, bathing,
etc.


Question:
Actual Cash Value (ACV)
Answer:
the required amount to pay damages for property loss, which is calculated based on the property's
current replacement value minus depreciation


Question:
Actual Charge
Answer:
The amount a physician or supplier actually bills for a particular service or supply.


Question:
Actuary
Answer:
A person trained in the technical aspects of insurance and related fields, particularly in the
mathematics of insurance; a person who, on behalf of the company, determines the mathematical
probability of loss.


Question:
Adhesion
Answer:
A contract offered on a "take-it-or-leave-it" basis by an insurer, in which the insured's only option
is to accept or reject the contract. Any ambiguities in the contract will be settled in favor of the
insured.


Question:

, Adjustable Life
Answer:
Life insurance which permits changes in the face amount, premium amount, period of protection,
and the duration of the premium payment period.


Question:
Adjuster
Answer:
A representative of an insurance company who investigates and acts on the behalf of the company
to obtain agreements for the amount of the insurance claim.


Question:
administrator
Answer:
An individual appointed by a court as a fiduciary to settle the financial affairs and estate of a
deceased person.


Question:
Admitted (Authorized) Insurer
Answer:
An insurance company authorized and licensed to transact business in a particular state.


Question:
Adult Day Care
Answer:
A program for impaired adults that attempts to meet their health, social, and functional needs in a
setting away from their homes.


Question:
Adverse Selection
Answer:
The tendency of risks with higher probability of loss to purchase and maintain insurance more often
than the risks who present lower probability.