Webce Test 1 Actual Questions

WEBCE TEST 1 ACTUAL QUESTIONS & VERIFIED
ANSWERS

AbbyAlivesAinAOhio,AwhereAsheAisAlicensedAasAanAinsuranceAproducer.ASheAwantsAtoAapplyAforAaAnon
residentAlicenseAinAPennsylvania.AWhichAofAtheAfollowingAconditionsAmustAsheAsatisfy?



SheAmustAmoveAtoAPennsylvania.
A



SheAmustAsurrenderAherAOhioAlicense.
A



SheAmustAbeAsponsoredAbyAaAproducerAlicensedAinAPennsylvania.
A



ASheAmustAshowAherAOhioAlicenseAisAinAgoodAstanding.A-ACORRECTAANSWER-
sheAmustAshowAherAOhioAlicenseAisAinAgoodAstanding

AnAannuityAsettlementAoptionAwithAaAlifeAcontingencyAisAoneAthat:



paysAannuityAbenefitsAforAaAspecifiedAperiodAofAtimeAwhetherAtheAannuitantAlivesAorAdiesAduringAt
A


hatAperiod.

AterminatesAannuityAbenefitApaymentsAifAtheAannuitantAisAaliveAuponAreachingAhisAorAherAlifeAexpe
ctancy

continuesAannuityAbenefitApaymentsAforAasAlongAasAtheAannuitantAlives,AevenAifAitAsurpassesAtheAa
A


nnuitant'sAlifeAexpectancy

ArequiresAthereAtoAbeAtwoAorAmoreAannuitantsAwhoAwillAreceiveAannuityAbenefitApaymentsAbeforeA
annuitizationAisApermittedA-ACORRECTAANSWER-
continuesAannuityAbenefitApaymentsAforAasAlongAasAtheAannuitantAlives,AevenAifAitAsurpassesAtheAa
nnuitantsAlifeAexpectancy

WhichAgroupAhealthAplanAgivesAemployersAtheAmostAflexibilityAinAdesigningAandAarrangingAtheApla
n'sAbenefits?



experience-ratedAplans
A



community-ratedAplans
A

,governmentAissueAplans
A



participatingAplansA-ACORRECTAANSWER-experience-ratedAplans
A



AnAinsurerAtypicallyAconsidersAallAofAtheAfollowingAduringAtheAunderwritingAprocessAEXCEPT:A



medicalAhistory
A



educationalAbackground
A



medicalAexams
A



labAtestsA-ACORRECTAANSWER-educationalAbackground
A



BeforeAdeliveringAaAhealthAinsuranceApolicyAtoAaAclient,AtheAproducerAaltersAtheAinsuringAclauseAinA
aAwayAthatAheAbelievesAwillAbenefitAtheAinsuranceAcompany.AWhichAofAtheAfollowingAstatementsAis
AcorrectAregardingAthisAalteration?




ItAisArequiredAofAaAdiligentAproducer.
A



ItAisAprohibitedAbyAtheAentireAcontractAprovision.
A



ItAisApermittedAonlyAwhenAitAisAinAtheAinsurer'sAbestAinterests.
A



AItAisAprohibitedAunlessAtheAinsuredAagreesAtoAitAinAwriting.A-ACORRECTAANSWER-
itAisAprohibitedAbyAtheAentireAcontractAprovision

Terry,ABella,ARaul,AandAPaulinaAeachAownAaAwholeAlifeAinsuranceApolicy.AWhichApersonAwouldAnotA
beAableAtoAaccelerateAtheAbenefitsAunderAtheirApolicy?



Terry,AwhoAhasAcancerAandAaAsix-monthAlifeAexpectancy
A



Bella,AwhoAhasAmultipleAsclerosis
A



Raul,AwhoAbecameApermanentlyAdisabledAfollowingAaAworkAaccident
A



APaulina,AwhoAwasAinjuredAinAaAcarAaccidentAbutAisAexpectedAtoAreturnAtoAworkAinAaAmonthA-
ACORRECTAANSWER-


Paulina,AwhoAwasAinjuredAinAaAcarAaccidentAbutAisAexpectedAtoAreturnAtoAworkAinAaAmonth

HoraceAbuysAaAMedicareAsupplementAinsuranceApolicyAbutAdecidesAnotAtoAkeepAit.AHowAmanyAday
sAdoesAheAhaveAtoAreturnAitAforAaAfullArefundAofAtheApremium?

,10
A



14
A



21
A



30A-ACORRECTAANSWER-30A
A




MedicareAhasAaAfree-lookAperiodAofA30Adays

AllAofAtheAfollowingAstatementsAaboutAannuitiesAareAgenerallyAcorrect,AEXCEPT:



AnnuitiesAareAnotAlifeAinsurance.
A



AnnuitiesAareAsoldAbyAlifeAinsuranceAagentsAandAareAissuedAbyAlifeAinsuranceAcompanies.
A



TheAhistoricApurposeAofAannuitiesAisAtoAcreateAestatesAoverAaAcertainAperiod.
A



AAnAannuityAconvertsAaAsumAofAmoneyAintoAaAseriesAofAincomeApayments.A-ACORRECTAANSWER-
theAhistoricApurposeAofAannuitiesAisAtoAcreateAestatesAoverAaAcertainAperiod

IfAaAretiredAworker'sAtotalAcombinedAincome,AincludingAone-
halfAofAhisAorAherASocialASecurityAbenefit,AexceedsAaAthresholdAamount,AthenAupAtoAwhatApercenta
geAofAbenefitsAexceedingAtheAthresholdAareAtaxable?



0Apercent
A



50Apercent
A



85Apercent
A



100ApercentA-ACORRECTAANSWER-85%
A



GeneAisAinjuredAwhileAonAvacation.AHisAemployer'sAgroupAdisabilityAplanApaysAbenefitsAforAoverAtw
oAyearsAbutAreducesAtheAamountApaidAbyAtheAbenefitsAheAreceivesAunderAanAindividualAdisabilityAp
olicy.AWhatAkindAofAgroupAcoverageAdoesAGeneAhave?



groupAshort-termAdisabilityAplan
A

, groupAoccupationalAplan
A



groupAlong-termAdisabilityAplan
A



groupApartialAdisabilityAplanA-ACORRECTAANSWER-groupAlong-termAdisabilityAplan
A




theseAareAoccupationalAorAnon-occupational

Nick'sApolicyAhasAbeenAcanceledAandANickAhasApaidAaApremiumAthatAwasAnotAdue.AUnderAtheAcanc
ellationAprovision,AwhatAmustAtheAinsurerAdo?



TheAinsurerAcanAapplyAtheApremiumAtoAotherAcoverageAownedAbyAtheAinsured.
A



TheAinsurerAmustAreturnAitAtoANick.
A



TheAinsurerAcanAkeepAit.
A



ANothingAunlessAtheAinsuredAfilesAaAclaimAforAtheAamountAowed.A-ACORRECTAANSWER-
theAinsurerAmustAreturnAitAtoANick

AllAofAtheAfollowingAareAprohibitedAinsurerApracticesAEXCEPT:



accessingAtheAMIBArecordsAonAanAapplicantAwithoutAtheAapplicant'sAapproval
A



AdecliningAanAapplicationAforAlifeAinsuranceAbasedAonAgeneticAtestingAinformationAobtainedAonAthe
AproposedAinsured.



AfailingAtoAnotifyAaAlifeAinsuranceAapplicantAthatAherAapplicationAwasAdeclinedAbecauseAofAinformat
ionAobtainedAinAaAcreditAreport.

investigatingAinsuranceAapplicantsA-ACORRECTAANSWER-investigatingAinsuranceAapplicants
A



TheAfourAshareholdersAofAABCACorporationAeachAownAaA$1,000,000AinterestAinAtheAcompanyAandA
enterAintoAaAstockAredemptionAagreement.AOneAofAtheAshareholdersAdiesAsixAmonthsAlater.AAllAthe
AfollowingAstatementsAregardingAthisAscenarioAareAcorrectAEXCEPT:




ATheAthreeAremainingAshareholdersAmustAnegotiateAtheApurchaseAofAtheAdeceasedAowner'sAintere
stAfromAhisAestate.