Wfg Study guides, Class notes & Summaries

If an agent fails to obtain an applicant's signature on the application, the agent must - Answer-Return the application to the applicant for a signature Why should the producer deliver the policy when the first premium has already been paid? - Answer-To help the insured understand all aspects of the contract. Most agents try to collect the initial premium for submission with the application. When an agent collects the initial from the applicant, the agent should issue the applicant a - Ans...

WFG LIFE INSURANSE QUESTIONS AND ANSWERS

WFG License Exam (Life, Insurance, Accident) Questions and Answers 100% Pass insurance - Correct Answer ️️ -contract whereby one undertakes to idemnify [restore before loss] another against loss, damage, liability from contingency [unknown/ unplanned events] indemnify Give Example. - Correct Answer ️️ -restore person to some financial position before loss has occurred to make someone whole EX: If someone passes, that lost of income is covered by life insurance (percentage of wh...

WFG License Practice Questions and Answers 100% Verified and Updated If the insured has a terminal illness, which provision would allow him or her to access a portion of the policy death benefit prior to death? - Correct Answer ️️ -Accelerated benefits All of the following are classified as life activities by the ADA (Americans with Disabilities Act) EXCEPT: - Correct Answer ️️ -Driving An insurer selling without a license would be guilty of which of the following? - Correct Answ...

WFG Exam Questions & Answers | 280 Questions with 100% Correct Answers | Latest Update | Verified

WFG Final Exam Questions With 100% Correct Answers John owns an insurance policy that gives him the right to share in the insurer's surplus. What kind of policy is this? -Non-participating -Contributory -Participating -Surplus - answer"Participating". Participating policies give the policyowner the right to share in the insurer's surplus. Which of the following is NOT a benefit of insurance? -Reduces the uncertainty of loss exposures -Losses due to fraud are eliminated -Makes a ...

d. Eight hours prior to renewal for licenses issued prior to January 1, 19 - answera. 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 - answerb. 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. Pr...

WFG Life Insurance Exam Practice Questions and Answers 100% Pass Which of the following would be considered a nonmedical insurance application? a) An application that does not ask any questions about the applicant's medical history b) An application submitted with the Agent's Report c) Any application for life insurance d) An application on which the medical information is completed by the applicant and the agent only - Correct Answer ️️ -d) An application on which the medical infor...

WFG Exam Study Questions And Answers (Verified And Updated) Speculative Risk - answerA risk in which there is a chance of either loss or gain. Never insurable Insurance - answerA contract whereby one undertakes to indemnify another against loss, damage, or liability arising from a contingent or unknown event. hazard - answer Accelerated benefits - answerRiders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. Accide...

WFG Certification Exam - Questions and Answers (Complete Solutions) An insurer enters into a contract with a third party to insure itself against losses from insurance policies it issues. What is this agreement called? Reinsurance An insurer owned by its policyholders is called a Mutual insurer AAA insurance company has transferred a portion of its loss exposure to BBB insurance company. In this reinsurance transaction, what is AAA insurance called Primary insurers Which of the following contr...