Webce Insurance test Exam Questions and
Answers with Verified Solutions | Latest
Updated 2026
Agent Thompson received a letter 10 days
from the Department of Insurance
asking her to provide proof of
completing the continuing
education requirements. Within
how many days must Agent
Thompson respond to the
Department's inquiry?
20
30
10
45
Abby lives in Ohio, where she is She must show her Ohio license is in good
licensed as an insurance standing
producer.
She wants to apply for a
nonresident license in
Pennsylvania. Which of the
following conditions must she
satisfy?
She must move to Pennsylvania.
She must surrender her Ohio
license.
She must be sponsored by a
producer licensed in Pennsylvania.
She must show her Ohio license is
in good standing.
,The requirement that an insurable using life insurance as a speculative
interest must exist when life interest on
insurance is purchased is intended another person's life
to prevent people from doing
which of the following?
using life insurance to fund future
cash needs
using life insurance as a
speculative investment on another
person's
life
overusing life insurance
designating an ineligible person
as the policy beneficiary
Which one of the following best industrial life insurance
describes a policy that has a
relatively low face amount and has
premiums that are paid to an
insurance agent who generally
calls on the policyowner at home
to collect them?
group life insurance
industrial life insurance
ordinary term insurance
ordinary whole life insurance
,Sylvia's insurer guarantees a fixed the policy's cash value
death benefit for the policy she
owns. Based on this, which one of
the following benefits is also most
likely guaranteed with this policy?
the policy's cash value
her ability to borrow an interest-
free loan from the cash value
policy dividends
payment of premiums on Sylvia's
behalf in the event of
emergencies
Carl is a policyowner who prefers The insurer divides the annual premium by
to pay premiums monthly rather 12
than annually. How will Carl's and then adds a modest charge
insurance company adjust his
premium to accommodate this
request?
The insurer divides the annual
premium by 12 and then adds a
modest charge.
The insurer simply divides the
annual premium by 12.
The insurer divides the annual
premium by 12 and then reduces
the premium amount to reflect the
fact that premiums will be paid
throughout the year.
The insurer divides the annual
premium by 12 and then adds a
modest charge in the first policy
year after which premiums equal
the annual premium divided by 12.
, All of the following statements XXX Upon the insured employee's death,
about key person life insurance the
are correct, EXCEPT: employee's surviving family receives the
The business applies for, owns, policy
and is the beneficiary of the policy benefit XXX
covering the life of a key
employee.
Upon the insured employee's
death, the employee's surviving
family receives the policy's death
benefit.
Key person, or key employee, life
insurance is an example of third-
party ownership.
Life insurance used as key person
life is normally owned by the
business rather than the insured.
How is increasing term life as a rider attached to a permanent
insurance normally sold? insurance
as an endorsement policy
as a permanent insurance policy
as a stand-alone term life
insurance policy
as a rider attached to a permanent
life insurance policy
Answers with Verified Solutions | Latest
Updated 2026
Agent Thompson received a letter 10 days
from the Department of Insurance
asking her to provide proof of
completing the continuing
education requirements. Within
how many days must Agent
Thompson respond to the
Department's inquiry?
20
30
10
45
Abby lives in Ohio, where she is She must show her Ohio license is in good
licensed as an insurance standing
producer.
She wants to apply for a
nonresident license in
Pennsylvania. Which of the
following conditions must she
satisfy?
She must move to Pennsylvania.
She must surrender her Ohio
license.
She must be sponsored by a
producer licensed in Pennsylvania.
She must show her Ohio license is
in good standing.
,The requirement that an insurable using life insurance as a speculative
interest must exist when life interest on
insurance is purchased is intended another person's life
to prevent people from doing
which of the following?
using life insurance to fund future
cash needs
using life insurance as a
speculative investment on another
person's
life
overusing life insurance
designating an ineligible person
as the policy beneficiary
Which one of the following best industrial life insurance
describes a policy that has a
relatively low face amount and has
premiums that are paid to an
insurance agent who generally
calls on the policyowner at home
to collect them?
group life insurance
industrial life insurance
ordinary term insurance
ordinary whole life insurance
,Sylvia's insurer guarantees a fixed the policy's cash value
death benefit for the policy she
owns. Based on this, which one of
the following benefits is also most
likely guaranteed with this policy?
the policy's cash value
her ability to borrow an interest-
free loan from the cash value
policy dividends
payment of premiums on Sylvia's
behalf in the event of
emergencies
Carl is a policyowner who prefers The insurer divides the annual premium by
to pay premiums monthly rather 12
than annually. How will Carl's and then adds a modest charge
insurance company adjust his
premium to accommodate this
request?
The insurer divides the annual
premium by 12 and then adds a
modest charge.
The insurer simply divides the
annual premium by 12.
The insurer divides the annual
premium by 12 and then reduces
the premium amount to reflect the
fact that premiums will be paid
throughout the year.
The insurer divides the annual
premium by 12 and then adds a
modest charge in the first policy
year after which premiums equal
the annual premium divided by 12.
, All of the following statements XXX Upon the insured employee's death,
about key person life insurance the
are correct, EXCEPT: employee's surviving family receives the
The business applies for, owns, policy
and is the beneficiary of the policy benefit XXX
covering the life of a key
employee.
Upon the insured employee's
death, the employee's surviving
family receives the policy's death
benefit.
Key person, or key employee, life
insurance is an example of third-
party ownership.
Life insurance used as key person
life is normally owned by the
business rather than the insured.
How is increasing term life as a rider attached to a permanent
insurance normally sold? insurance
as an endorsement policy
as a permanent insurance policy
as a stand-alone term life
insurance policy
as a rider attached to a permanent
life insurance policy
