WEBCE Exam Prep Questions With
Correct Answers
While completing an application for a health insurance policy, Dan
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discloses his partial blindness. The insurer will treat his blindness as a: -
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CORRECT ANSWER✔✔-Physical Hazard
| |
ABC insurance company fires Renee, a producer. She continues to
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interviews prospects, make sale presentations with company materials,
| | | | | | | |
and collect premiums. When dealing with Renee, the prospects believe
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that she has what kind of authority from ABC - CORRECT ANSWER✔✔-
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apperant
Which two parties form a contract for life insurance - CORRECT
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ANSWER✔✔-Insurer and policyowner | |
Mark knowingly exceeds his actual authority when dealing with a client.
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His actions cause a loss to the insurance company he represents. Which
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statement is correct. - CORRECT ANSWER✔✔-The company may be
| | | | | | | | |
liable for marks actions
| | |
,Life and health insurance companies regulate themselves through each
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of the following entities or organizations EXCEPT: - CORRECT
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ANSWER✔✔-Financial Industry Regulatory Authority (FINRA) | | | |
An agent who sells insurance for an insurance company that does not
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have a certificate of authority to operate in the state represents: -
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CORRECT ANSWER✔✔-Non-admitted Insurer | |
Which is not an example of a hazard - CORRECT ANSWER✔✔-John takes
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medication to control high blood pressure
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Which person would not be considered competent to enter into an
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insurance contract - CORRECT ANSWER✔✔-A person under the
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influence of alcohol | |
The Insurance Commissioner cannot suspend or revoke an agent's
| | | | | | | | |
license for which of the following reasons?
| | | | | |
A. Failing to meet projected sales goals
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B. Having an agent's license denied or suspended in another state
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C. Forging an individual's name on an insurance application
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D. Accepting insurance from an unlicensed individual - CORRECT
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ANSWER✔✔-A. Failing to meet projected sales goals | | | | | |
, Which of the following is not a remedy available to the Pennsylvania
| | | | | | | | | | | |
commissioner of insurance for committing an unfair method of | | | | | | | | |
competition - CORRECT ANSWER✔✔-imprisonment | | |
Persons who commit crimes of dishonesty while engaged in interstate
| | | | | | | | | |
insurance transactions can be sentenced to all of the following except -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-Imprisonment for up to 25 years
| | | | | |
If a person buys a new life insurance policy to replace an existing one,
| | | | | | | | | | | | | |
the producer must give the applicant the Notice Regarding Replacement
| | | | | | | | |
|form no later than when? - CORRECT ANSWER✔✔-When the
| | | | | | | | |
application is taken | |
Agent Jill received a letter from the department of insurance asking her
| | | | | | | | | | | |
to submit verification of having completed the continuing education
| | | | | | | | |
requirements for the previous licensing period. Three weeks later, the | | | | | | | | | |
department sent another letter. Which penalty may the department
| | | | | | | | |
impose if Jill still has not responded to its request one month later? -
| | | | | | | | | | | | | |
CORRECT ANSWER✔✔-A fine of up to $100 per day violation
| | | | | | | | |
Which of the following is not an unfair claims settlement practice if
| | | | | | | | | | | |
committed by an insurance company in Pennsylvania? - CORRECT
| | | | | | | | |
ANSWER✔✔-failing to promptly settle a claim for which liability is | | | | | | | | | |
uncertain
Correct Answers
While completing an application for a health insurance policy, Dan
| | | | | | | | | |
discloses his partial blindness. The insurer will treat his blindness as a: -
| | | | | | | | | | | | |
CORRECT ANSWER✔✔-Physical Hazard
| |
ABC insurance company fires Renee, a producer. She continues to
| | | | | | | | | |
interviews prospects, make sale presentations with company materials,
| | | | | | | |
and collect premiums. When dealing with Renee, the prospects believe
| | | | | | | | | |
that she has what kind of authority from ABC - CORRECT ANSWER✔✔-
| | | | | | | | | | |
apperant
Which two parties form a contract for life insurance - CORRECT
| | | | | | | | | | |
ANSWER✔✔-Insurer and policyowner | |
Mark knowingly exceeds his actual authority when dealing with a client.
| | | | | | | | | | |
His actions cause a loss to the insurance company he represents. Which
| | | | | | | | | | | |
statement is correct. - CORRECT ANSWER✔✔-The company may be
| | | | | | | | |
liable for marks actions
| | |
,Life and health insurance companies regulate themselves through each
| | | | | | | | |
of the following entities or organizations EXCEPT: - CORRECT
| | | | | | | | |
ANSWER✔✔-Financial Industry Regulatory Authority (FINRA) | | | |
An agent who sells insurance for an insurance company that does not
| | | | | | | | | | | |
have a certificate of authority to operate in the state represents: -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-Non-admitted Insurer | |
Which is not an example of a hazard - CORRECT ANSWER✔✔-John takes
| | | | | | | | | | |
medication to control high blood pressure
| | | | | |
Which person would not be considered competent to enter into an
| | | | | | | | | | |
insurance contract - CORRECT ANSWER✔✔-A person under the
| | | | | | | |
influence of alcohol | |
The Insurance Commissioner cannot suspend or revoke an agent's
| | | | | | | | |
license for which of the following reasons?
| | | | | |
A. Failing to meet projected sales goals
| | | | | |
B. Having an agent's license denied or suspended in another state
| | | | | | | | | |
C. Forging an individual's name on an insurance application
| | | | | | | |
D. Accepting insurance from an unlicensed individual - CORRECT
| | | | | | | | |
ANSWER✔✔-A. Failing to meet projected sales goals | | | | | |
, Which of the following is not a remedy available to the Pennsylvania
| | | | | | | | | | | |
commissioner of insurance for committing an unfair method of | | | | | | | | |
competition - CORRECT ANSWER✔✔-imprisonment | | |
Persons who commit crimes of dishonesty while engaged in interstate
| | | | | | | | | |
insurance transactions can be sentenced to all of the following except -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-Imprisonment for up to 25 years
| | | | | |
If a person buys a new life insurance policy to replace an existing one,
| | | | | | | | | | | | | |
the producer must give the applicant the Notice Regarding Replacement
| | | | | | | | |
|form no later than when? - CORRECT ANSWER✔✔-When the
| | | | | | | | |
application is taken | |
Agent Jill received a letter from the department of insurance asking her
| | | | | | | | | | | |
to submit verification of having completed the continuing education
| | | | | | | | |
requirements for the previous licensing period. Three weeks later, the | | | | | | | | | |
department sent another letter. Which penalty may the department
| | | | | | | | |
impose if Jill still has not responded to its request one month later? -
| | | | | | | | | | | | | |
CORRECT ANSWER✔✔-A fine of up to $100 per day violation
| | | | | | | | |
Which of the following is not an unfair claims settlement practice if
| | | | | | | | | | | |
committed by an insurance company in Pennsylvania? - CORRECT
| | | | | | | | |
ANSWER✔✔-failing to promptly settle a claim for which liability is | | | | | | | | | |
uncertain
