WebCe Samenvattingen, Aantekeningen en Examens

Risk - answer-Chance of loss 5 Risk or Loss Factors - answer-1. Risk 2. Loss 3. Exposure 4. Peril 5. Hazard Insurance allows: - answer-Individual or group to transfer over to insurance company the risk of financial loss from a destructive event Fundamental purpose of insurance is: - answer-To indemnify policyholder against covered losses or restore policyholder back to same financial position they were in before Insurance companies may used term risks to refer...

webce insurance exam Questions And Answers

All of the following are eligible to purchase a group life insurance policy EXCEPT: the Wonderful Widget Company, which employs more than 200 people the State Electrical Workers Union the Retailers Multiple Employer Trust, formed by two retailers to purchase insurance for their employees Stan and his neighbors, who form their own group to buy group coverage at a lower cost than their individual coverages - answer-Stan and his neighbors are not eligible to purchase group life insuranc...

In general, what is the earliest age at which a person can take a distribution from a qualified plan without a tax penalty? - 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: - answer-statutory minimum withholding requirements What kind of misrepresentation on an insurance application gi...

QUESTIONS AND ANSWERS

QUESTIONS AND ANSWERS

WEBCE Test Questions Exam With 100% Correct Answers 2023

WEBCE Life and Health (281 Questions) With Correct Verified Answers- 100% Score Representations and Warranties - ️️ -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 - ️️ -Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assig...

Property Insurance WEBCE|Complete with A+ Graded Answers Homeowners Policy Broad Form 2 (HO 2) Dwelling, other structures: homeowners policy, and personal property on a named perils basis; loss of use, personal liability, and medical payments. Homeowners Policy Special Form 3(HO 3) Dwelling and other structures on an open perils basis; personal property on a named perils basis (16 specified perils); loss of use, personal liability, and medical payments. Homeowners Policy Contents ...

Webce Insurance test questions|Latest Update Graded A+ 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 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 satisfy? S...