WebCe Study guides, Class notes & Summaries

In general, what is the earliest age at which a person can take a distribution from a qualified plan without a tax penalty? - Correct Answer 59 1/2 Carol was 35 when she bought her deferred annuity. Now, at age 38, she wants to withdraw funds from the contract to take a vacation. Carol is likely to encounter all of the following consequences in making the withdrawal EXCEPT: - Correct Answer statutory minimum withholding requirements What kind of misrepresentation on an insurance appl...

which of the following situations presents a situation of pure risk? -knowing that his family is depending on him, Frank wants to insure his life -wanting to increase his retirement savings, Saul invests his life savings in the stock market -Ralph takes a second mortgage on his house and uses the proceeds to gamble -wanting better job security, Ron cashes in his life insurance to start his own business - Correct Answer knowing that his family is depending on him, Frank wants to insure his ...

Webce Life and Health Exam Questions and Answers | Verified & Updated 2024 Representations and Warranties - Answer ️️ -Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments - Answer ️️ -Two related insurance company functions. Through the process of _________, applications are assessed for insurability and ...

Webce Insurance test questions with verified answers Agent Thompson received a letter 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 - Answer ️️ -10 days Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she sa...

WebCE Exam with Complete Solutions | Verified & Updated 2024 On what basis are benefits payable under a long-term care insurance policy typically triggered? A) the diagnosis of an acute medical condition B) the number and types of medications prescribed C) the inability to perform of medications prescribed D) all of the above - Answer ️️ -C) The inability to perform defined ADLs The inability to perform defined ADLs. Benefits payable under a long-term care policy are typically based ...

Annuity – WebCE Exam Questions with Verified Answers | 100% Correct | Verified & Updated 2024 Annuitization is - Answer ️️ -Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? - Answer ️️ -A specified term of years, for life, or a combination of the two. What is the reason (how has a consumer's priorities and needs shifted) that annuities are well suited for late-life retirement planning? - Answer ️️ -...

WebCE: Long-Term Care: Programs, Policies, and Partnerships Exam with 100% Correct Answers | Verified & Updated 2024 What is the Primary Goal of Long Term Care - Answer ️️ -To maintain functionality Which of the following most precisely defines the fundamentals of self-care and the basic tasks of life? - Answer ️️ -Activities of daily living Long Term Care occurs only in nursing facilities. - Answer ️️ -False On what basis are benefits payable under a long term care insurance p...

Webce life health Florida Exam Questions and Answers | Verified & Updated 2024 Rory's parents offered to buy him a new car to take to college, but Rory turned them down because he was afraid the car would be stolen or damaged if he parked it on campus. In deciding not to own a car, what risk management technique did Rory employ? - Answer ️️ -risk avoidance Which of the following is most likely to be an insurable risk? - Answer ️️ -The chance that a fire will destroy a building T...

WebCe - Commercial Properties questions and answers with 100% Correct Answers A tornado severely damages one of Major Manufacturing's plants. As a result of the damage, Major Manufacturing is forced to curtail its operations during the 6 months needed to complete repairs. The resulting loss of income suffered by Major Manufacturing is referred to as - Answer ️️ -a time element loss. Which of the following describes a feature of standard commercial property policies? - Answer ️️ -...