WFG License Exam 3 Questions With 100%
Correct Answers!!
Which of the following is true in regard to health insurance issued on a group basis?
a. All eligible members must be covered under a "non-contributory" group health plan
b. All eligible members must be covered under a "contributory" group health plan
c. No less than 50% of the eligible employees must elect to participate in the plan if it is
considered a "contributory" plan
d. No less than 75% of the eligible employees must elect to participate in the plan if it is
considered a "non-contributory" plan - ✔✔a. All eligible members must be covered under a
"non-contributory" group health plan
If the owner of a life insurance policy has a payment term of is annually, which of the following
statement is true?
a. The premium is the same if pay monthly
b. Pay more on quarterly than semi-annually
c. Pay more semi-annual than annually
d. Pay a reduced amount if paid earlier in the year rather than at the end of the period of
coverage, as it is customary - ✔✔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
a. All licensees are required to pass a LTC knowledge exam every 10 years
b. 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
c. Non-resident licensees file with the Insurance Commissioner and have Commissioner
approve education requirement
,d. Eight hours prior to renewal for licenses issued prior to January 1, 19 - ✔✔a. All licensees
are required to pass a LTC knowledge exam every 10 years
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), which of the following is a
qualifying event?
a. Promotion
b. Divorce
c. Marriage
d. Relocation - ✔✔b. Divorce
Unless it is merely a statement of an expectation or a belief, a representation as to the future is
considered which of the following?
a. Promise
b. Provision
c. Liability
d. Description - ✔✔a. Promise
Which insurance policy pays on the death of the second insured?
a. Promise
b. Provision
c. Liability
d. Description - ✔✔a. Promise
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?
,a. Guaranteed
b. Insolvent
c. Solvent
d. Nonparticipating - ✔✔b. Insolvent
An individual with low income and high insurance need should buy?
a. Whole life insurance
b. Universal life insurance
c. Endowment insurance
d. Term insurance - ✔✔d. Term insurance
The Pregnancy Discrimination Act has which of the following effect?
a. Pregnancy can be excluded from coverage
b. Pregnancy must be covered by with lower benefits than other conditions
c. The employer must provide at least 4 weeks of paid leave with health benefits after delivery
d. Pregnancy must be treated the same as any other condition - ✔✔d. Pregnancy must be
treated the same as any other condition
All of the following statement about contingent beneficiaries are true EXCEPT
a. They receive remaining payments to be made under a settlement agreement upon the
primary beneficiary's death
b. The contingent beneficiary shares death proceeds equal to the primary beneficiary
, c. They receive death proceeds if the primary beneficiary is deceased at the time of the
insured's death
d. More than one contingency beneficiary may be named - ✔✔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
a. Case management
b. Activities of daily living
c. The gatekeeper mechanism
d. Co-insurance - ✔✔b. Activities of daily living
Due to the Affordable Care Act, at what age can dependent adult child stay on the family health
plan?
a. 21
b. 18
c. 26
d. 24 - ✔✔c. 26
The Family Medical Leave Act provides for what minimum amount of unpaid leave?
a. 12 weeks
b. 8 weeks
c. 6 weeks
d. 2 weeks - ✔✔a. 12 weeks
Which insurance policy pays on the death of the second insured?
Correct Answers!!
Which of the following is true in regard to health insurance issued on a group basis?
a. All eligible members must be covered under a "non-contributory" group health plan
b. All eligible members must be covered under a "contributory" group health plan
c. No less than 50% of the eligible employees must elect to participate in the plan if it is
considered a "contributory" plan
d. No less than 75% of the eligible employees must elect to participate in the plan if it is
considered a "non-contributory" plan - ✔✔a. All eligible members must be covered under a
"non-contributory" group health plan
If the owner of a life insurance policy has a payment term of is annually, which of the following
statement is true?
a. The premium is the same if pay monthly
b. Pay more on quarterly than semi-annually
c. Pay more semi-annual than annually
d. Pay a reduced amount if paid earlier in the year rather than at the end of the period of
coverage, as it is customary - ✔✔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
a. All licensees are required to pass a LTC knowledge exam every 10 years
b. 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
c. Non-resident licensees file with the Insurance Commissioner and have Commissioner
approve education requirement
,d. Eight hours prior to renewal for licenses issued prior to January 1, 19 - ✔✔a. All licensees
are required to pass a LTC knowledge exam every 10 years
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), which of the following is a
qualifying event?
a. Promotion
b. Divorce
c. Marriage
d. Relocation - ✔✔b. Divorce
Unless it is merely a statement of an expectation or a belief, a representation as to the future is
considered which of the following?
a. Promise
b. Provision
c. Liability
d. Description - ✔✔a. Promise
Which insurance policy pays on the death of the second insured?
a. Promise
b. Provision
c. Liability
d. Description - ✔✔a. Promise
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?
,a. Guaranteed
b. Insolvent
c. Solvent
d. Nonparticipating - ✔✔b. Insolvent
An individual with low income and high insurance need should buy?
a. Whole life insurance
b. Universal life insurance
c. Endowment insurance
d. Term insurance - ✔✔d. Term insurance
The Pregnancy Discrimination Act has which of the following effect?
a. Pregnancy can be excluded from coverage
b. Pregnancy must be covered by with lower benefits than other conditions
c. The employer must provide at least 4 weeks of paid leave with health benefits after delivery
d. Pregnancy must be treated the same as any other condition - ✔✔d. Pregnancy must be
treated the same as any other condition
All of the following statement about contingent beneficiaries are true EXCEPT
a. They receive remaining payments to be made under a settlement agreement upon the
primary beneficiary's death
b. The contingent beneficiary shares death proceeds equal to the primary beneficiary
, c. They receive death proceeds if the primary beneficiary is deceased at the time of the
insured's death
d. More than one contingency beneficiary may be named - ✔✔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
a. Case management
b. Activities of daily living
c. The gatekeeper mechanism
d. Co-insurance - ✔✔b. Activities of daily living
Due to the Affordable Care Act, at what age can dependent adult child stay on the family health
plan?
a. 21
b. 18
c. 26
d. 24 - ✔✔c. 26
The Family Medical Leave Act provides for what minimum amount of unpaid leave?
a. 12 weeks
b. 8 weeks
c. 6 weeks
d. 2 weeks - ✔✔a. 12 weeks
Which insurance policy pays on the death of the second insured?
