WebCE Practice Exams Questions and Correct Solutions 2024

WebCE Practice Exams Questions and Correct Solutions 2024 A policyowner can access the cash value of many life insurance policies through withdrawals, loans or policy surrender. Which of the following terms describes the ability to easily convert life insurance into cash? - Answer -Liquidity. Life insurance policy proceeds are protected from the claims of creditors due to the policy's: - Answer - Spendthrift clause. Which of the following is an insurable risk? - Answer -The possibility of becoming disabled and unable to earn an income. When pricing health insurance policies, the morbidity rates indicate: - Answer -The average number of persons in a large group who are expected to become disables because of accident or sickness. Those eligible for family coverage under a group medical expense plan would typically be which of the following? - Answer -Primary insured, spouse, their son, and the spouse's children from a previous marriage. Which of the following statements is correct about the HMO claims process? - Answer -Members do not need to submit claim forms for services provided within the network. Which statement correctly describes the tax treatment of unreimbursed medical expenses? - Answer - They may be deducted from taxable income if they exceed a certain percentage of AGI. All of the following statements about multiple employer trusts are correct EXCEPT: - Answer -The individual employers each own separate group life policies. The use of permanent life insurance policy as security for obtaining a bank loan is done through a(n): - Answer -Collateral assignment. Which of the following statements about variable life insurance is correct? - Answer -The cash value is not guaranteed with variable life. Which of the federal law group health plans and protects their enrollees? - Answer -ERISA. Which statement is correct about the tax treatment of distributions from endowment policies? - Answer -They are subject to federal income taxation. When choosing a health care provider from a PPO and managing out-of-pocket expenses, the insured can: - Answer -Use a network provider for the lowest cost, or use a non-network provider for more flexibility.Which disability would most likely qualify for a full benefit under th