webce insurance exam questions with
correct answers
1. Which of the following exempted insurance companies from federal
| | | | | | | | | |
antitrust legislation? - CORRECT ANSWER✔✔-the McCarran-Ferguson
| | | | | |
Act
Which statement about the NAIC is correct? - CORRECT ANSWER✔✔-
| | | | | | | | |
The NAIC prepares model laws, regulations, and guidelines for adoption
| | | | | | | | | |
by the states.
| |
4. The NAIC issued a model law on long-term care insurance. Which
| | | | | | | | | | | |
statement about the model law's effectiveness is correct? - CORRECT
| | | | | | | | | |
ANSWER✔✔-The model law becomes effective in a state if approved by
| | | | | | | | | | |
the state legislature.
| |
Which statement about life insurance illustrations is correct? - CORRECT
| | | | | | | | | |
ANSWER✔✔-Illustrations must include the company's name, the date | | | | | | | |
, the illustration was prepared, initial death benefit, and the name, age,
| | | | | | | | | | |
and gender of the proposed insured.
| | | | |
2. Which of the following provides general information about life
| | | | | | | | | |
insurance policies to potential buyers? - CORRECT ANSWER✔✔-the
| | | | | | | |
Buyer's Guide |
3. Which of the following is the Gramm-Leach-Bliley Act primarily aimed
| | | | | | | | | |
|at regulating? - CORRECT ANSWER✔✔-the disclosure of personal
| | | | | | | |
financial information to third parties
| | | |
4. What is the purpose of the Producer Database? - CORRECT
| | | | | | | | | | |
ANSWER✔✔-streamline producer licensing procedures | | |
5. For how long must an organization maintain a record of a person's
| | | | | | | | | | | | |
request to be placed on a do-not-call list? - CORRECT ANSWER✔✔-5
| | | | | | | | | | |
years
1. Which of the following must be considered in making a suitable fixed
| | | | | | | | | | | | |
annuity recommendation to a customer? - CORRECT ANSWER✔✔-a. the
| | | | | | | |
customer's financial status
| | |
b. the customer's tax status
| | | |
c. the customer's investment objectives
| | | |
d. all of the above
| | | |
correct answers
1. Which of the following exempted insurance companies from federal
| | | | | | | | | |
antitrust legislation? - CORRECT ANSWER✔✔-the McCarran-Ferguson
| | | | | |
Act
Which statement about the NAIC is correct? - CORRECT ANSWER✔✔-
| | | | | | | | |
The NAIC prepares model laws, regulations, and guidelines for adoption
| | | | | | | | | |
by the states.
| |
4. The NAIC issued a model law on long-term care insurance. Which
| | | | | | | | | | | |
statement about the model law's effectiveness is correct? - CORRECT
| | | | | | | | | |
ANSWER✔✔-The model law becomes effective in a state if approved by
| | | | | | | | | | |
the state legislature.
| |
Which statement about life insurance illustrations is correct? - CORRECT
| | | | | | | | | |
ANSWER✔✔-Illustrations must include the company's name, the date | | | | | | | |
, the illustration was prepared, initial death benefit, and the name, age,
| | | | | | | | | | |
and gender of the proposed insured.
| | | | |
2. Which of the following provides general information about life
| | | | | | | | | |
insurance policies to potential buyers? - CORRECT ANSWER✔✔-the
| | | | | | | |
Buyer's Guide |
3. Which of the following is the Gramm-Leach-Bliley Act primarily aimed
| | | | | | | | | |
|at regulating? - CORRECT ANSWER✔✔-the disclosure of personal
| | | | | | | |
financial information to third parties
| | | |
4. What is the purpose of the Producer Database? - CORRECT
| | | | | | | | | | |
ANSWER✔✔-streamline producer licensing procedures | | |
5. For how long must an organization maintain a record of a person's
| | | | | | | | | | | | |
request to be placed on a do-not-call list? - CORRECT ANSWER✔✔-5
| | | | | | | | | | |
years
1. Which of the following must be considered in making a suitable fixed
| | | | | | | | | | | | |
annuity recommendation to a customer? - CORRECT ANSWER✔✔-a. the
| | | | | | | |
customer's financial status
| | |
b. the customer's tax status
| | | |
c. the customer's investment objectives
| | | |
d. all of the above
| | | |
