WFG License Test: Exam Questions and Answers with Verified Solutions | Latest 2026 Update

WFG License Test: Exam Questions and Answers with Verified
Solutions | Latest 2026 Update


Q: A policy shall specify all of the following except
Answer:
The financial rating of the insurer

Q: The chance of loss without any possibility for gain is known as
Answer:
Pure risk

Q: The entire contract provision on a life insurance policy states
Answer:
The entire contract includes the policy and the application, if attached

Q: Insurable interest must exist:
Answer:
at the time of the application

Q: All of the following would be considered to be ordinary life insurance except:
Answer:
Group

Q: All of the following are true regarding adverse selection except:
Answer:
Insurers may discriminate against those who may incur losses in order to avoid it

Q: All of the following are true regarding participating life insurance policies
issued by mutual insurers except:
Answer:
Dividends are guaranteed to be paid if the insurer makes a profit

Q: Buying life insurance is a risk management process whereby a person elects
to the financial risk of their premature death
Answer:
transfer