WFG Exam Questions and Answers with Verified Solutions | Latest
2026 Update
Q: Which of the following is true in regard to health insurance issued on a group
basis?
All eligible members must be covered under a "non-contributory" group health
plan
All eligible members must be covered under a "contributory" group health plan
No less than 50% of the eligible employees must elect to participate in the plan if it
is considered a "contributory" plan
No less than 75% of the eligible employees must elect to participate in the plan if it
is considered a "non-contributory" plan
Answer:
a. All eligible members must be covered under a "non-contributory" group health
plan
Q: If the owner of a life insurance policy has a payment term of is annually,
which of the following statement is true?
The premium is the same if pay monthly
Pay more on quarterly than semi-annually
Pay more semi-annual than annually
Pay a reduced amount if paid earlier in the year rather than at the end of the period
of coverage, as it is customary
Answer:
c. Pay more semi-annual than annually
In order to qualify to sell LTC insurance in the state of California, agent must
comply with all of the following EXCEPT
All licensees are required to pass a LTC knowledge exam every 10 years
For licenses issued after Jan 1, 1982, 8 hours of training for the first 4 12-month
period from dat of license issuance, then 8 hours prior to each renewal
Non-resident licensees file with the Insurance Commissioner and have
Commissioner approve education requirement
Q: Eight hours prior to renewal for licenses issued prior to January 1, 19
,Answer:
a. All licensees are required to pass a LTC knowledge exam every 10 years
Q: Under the Consolidated Omnibus Budget Reconciliation Act (COBRA),
which of the following is a qualifying event?
Promotion
Divorce
Marriage
Relocation
Answer:
b. Divorce
Q: Unless it is merely a statement of an expectation or a belief, a representation
as to the future is considered which of the following?
Promise
Provision
Liability
Description
Answer:
a. Promise
Q: Which insurance policy pays on the death of the second insured?
Promise
Provision
Liability
Description
Answer:
a. Promise
Q: Which of the following describes an insurer who has enough financial
resources only to provide for all of its liabilities and for all reinsurance of all
outstanding risk?
Guaranteed
Insolvent
Solvent
0 0 Nonparticipating
,Answer:
b. Insolvent
Q: An individual with low income and high insurance need should buy?
Whole life insurance
Universal life insurance
Endowment insurance
Term insurance
Answer:
d. Term insurance
Q: The Pregnancy Discrimination Act has which of the following effect?
Pregnancy can be excluded from coverage
Pregnancy must be covered by with lower benefits than other conditions
The employer must provide at least 4 weeks of paid leave with health benefits after
delivery
Pregnancy must be treated the same as any other condition
Answer:
d. Pregnancy must be treated the same as any other condition
All of the following statement about contingent beneficiaries are true EXCEPT
They receive remaining payments to be made under a settlement agreement upon
the primary beneficiary's death
The contingent beneficiary shares death proceeds equal to the primary beneficiary
They receive death proceeds if the primary beneficiary is deceased at the time of
the insured's death
Q: More than one contingency beneficiary may be named
Answer:
c. They receive death proceeds if the primary beneficiary is deceased at the time of
the insured's death
A measure for rating an individual's need for LTC benefit is called
Case management
0 0 Activities of daily living
The gatekeeper mechanism
Q: Co-insurance
, Answer:
b. Activities of daily living
Q: Due to the Affordable Care Act, at what age can dependent adult child stay on
the family health plan?
24
Answer:
c. 26
Q: The Family Medical Leave Act provides for what minimum amount of unpaid
leave?
12 weeks
8 weeks
6 weeks
2 weeks
Answer:
a. 12 weeks
Q: Which insurance policy pays on the death of the second insured?
Joint life
Survivorship life
Limited payment Whole Life
Family Policy
Answer:
b. Survivorship life
Any situation that presents the possibility of a loss is known as
Consideration.
0 0 A covered loss.
A loss exposure.
Q: Medical loss ratio.
Answer:
c. A loss exposure.
Making an insured whole by restoring them to the same condition as before a loss
is an example of
Reinsurance.
2026 Update
Q: Which of the following is true in regard to health insurance issued on a group
basis?
All eligible members must be covered under a "non-contributory" group health
plan
All eligible members must be covered under a "contributory" group health plan
No less than 50% of the eligible employees must elect to participate in the plan if it
is considered a "contributory" plan
No less than 75% of the eligible employees must elect to participate in the plan if it
is considered a "non-contributory" plan
Answer:
a. All eligible members must be covered under a "non-contributory" group health
plan
Q: If the owner of a life insurance policy has a payment term of is annually,
which of the following statement is true?
The premium is the same if pay monthly
Pay more on quarterly than semi-annually
Pay more semi-annual than annually
Pay a reduced amount if paid earlier in the year rather than at the end of the period
of coverage, as it is customary
Answer:
c. Pay more semi-annual than annually
In order to qualify to sell LTC insurance in the state of California, agent must
comply with all of the following EXCEPT
All licensees are required to pass a LTC knowledge exam every 10 years
For licenses issued after Jan 1, 1982, 8 hours of training for the first 4 12-month
period from dat of license issuance, then 8 hours prior to each renewal
Non-resident licensees file with the Insurance Commissioner and have
Commissioner approve education requirement
Q: Eight hours prior to renewal for licenses issued prior to January 1, 19
,Answer:
a. All licensees are required to pass a LTC knowledge exam every 10 years
Q: Under the Consolidated Omnibus Budget Reconciliation Act (COBRA),
which of the following is a qualifying event?
Promotion
Divorce
Marriage
Relocation
Answer:
b. Divorce
Q: Unless it is merely a statement of an expectation or a belief, a representation
as to the future is considered which of the following?
Promise
Provision
Liability
Description
Answer:
a. Promise
Q: Which insurance policy pays on the death of the second insured?
Promise
Provision
Liability
Description
Answer:
a. Promise
Q: Which of the following describes an insurer who has enough financial
resources only to provide for all of its liabilities and for all reinsurance of all
outstanding risk?
Guaranteed
Insolvent
Solvent
0 0 Nonparticipating
,Answer:
b. Insolvent
Q: An individual with low income and high insurance need should buy?
Whole life insurance
Universal life insurance
Endowment insurance
Term insurance
Answer:
d. Term insurance
Q: The Pregnancy Discrimination Act has which of the following effect?
Pregnancy can be excluded from coverage
Pregnancy must be covered by with lower benefits than other conditions
The employer must provide at least 4 weeks of paid leave with health benefits after
delivery
Pregnancy must be treated the same as any other condition
Answer:
d. Pregnancy must be treated the same as any other condition
All of the following statement about contingent beneficiaries are true EXCEPT
They receive remaining payments to be made under a settlement agreement upon
the primary beneficiary's death
The contingent beneficiary shares death proceeds equal to the primary beneficiary
They receive death proceeds if the primary beneficiary is deceased at the time of
the insured's death
Q: More than one contingency beneficiary may be named
Answer:
c. They receive death proceeds if the primary beneficiary is deceased at the time of
the insured's death
A measure for rating an individual's need for LTC benefit is called
Case management
0 0 Activities of daily living
The gatekeeper mechanism
Q: Co-insurance
, Answer:
b. Activities of daily living
Q: Due to the Affordable Care Act, at what age can dependent adult child stay on
the family health plan?
24
Answer:
c. 26
Q: The Family Medical Leave Act provides for what minimum amount of unpaid
leave?
12 weeks
8 weeks
6 weeks
2 weeks
Answer:
a. 12 weeks
Q: Which insurance policy pays on the death of the second insured?
Joint life
Survivorship life
Limited payment Whole Life
Family Policy
Answer:
b. Survivorship life
Any situation that presents the possibility of a loss is known as
Consideration.
0 0 A covered loss.
A loss exposure.
Q: Medical loss ratio.
Answer:
c. A loss exposure.
Making an insured whole by restoring them to the same condition as before a loss
is an example of
Reinsurance.
