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D076 WGU FINANCE BY ME (MODULE QUIZZES)

D076 WGU - ALL UNIT TESTS QUESTIONS & ANSWERS

Life insurance policy illustration must include the following information - Answer -- name and business address of the insurer and the producer - name, age, and sex of. The proposed insured - underwriting or rating classification upon which the illustration is based Cease and desist order - Answer -specifies the practice. In violation and legally requires the person to stop committing. It If the commissioner decides to suspend or revoke a license it must - Answer -be notified In wri...

a private insurance company that is established to provide insurance to policyowners and to make a profit for its stockholders the insured policyowners do not own the company, nor do they receive any dividends that to company returns stock insurers do not issue participating policies; therefore, two groups exist: shareholders and policyowners - though a shareholder could also be a policyowner Mutual Insurance Company - Answer -Participating or 'Par' a private insurance company...

Employer - Answer -In an employer-sponsored group accident and health plan, a master contract is issued to the Dread disease insurance - Answer -What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)? Obtain the beneficiary's signature - Answer -When a producer is replacing an existing ordinary life insurance policy, the producer must take all of the following actions EXCEPT Age - Answer -An error was made on Mary's life insurance...

true - Answer -t/f: people who like to argue do not necessarily make good lawyers false - Answer -t/f: this is an example of inductive reasoning: all dogs like to play fetch my pet is a dog therefore, my pet likes to play fetch true - Answer -t/f: In many ways, the third element in the BLAST list — a concept of argument (A) — is the root of all informal logics. In ordinary discourse, the word "argue" can mean "to disagree," usually with the further implication that so...

For an individual long-term care policy there is an annual dollar limit for tax deductions that is based on which of the following? - Answer -Age All of the following are TRUE regarding incomplete applications EXCEPT - Answer -The incomplete application can be accepted with the missing information added later. Which of the following is exempted from the incontestability provision in insurance policies? - Answer -Fraudulent misstatements All of the following statements define preexist...

Which of the following is considered to be an event or condition that increases the probability of an insured loss? - Answer -hazard An example of risk sharing would be: - Answer -Doctors pulling their money to cover malpractice exposures. An individual who removes the risk of losing money in the stock market by never purchasing stocks, is said to be engaging in: - Answer -Risk avoidance Insurance companies determine risk exposure by which of the following? - Answer -Law of large nu...

When family coverage is in place, newborn children are automatically covered under a medical plan for a period of at least 3 days 10 days 21 days 31 days - Answer -31 days Typically, Long-term Disability benefits are coordinated with which benefit plan? Social security Individual retirement account Life insurance Accured sick time - Answer -Social Security An insurable interest in each other's lives may exist in absence of an economic interest when the individu...

Which of the following does not describe a 401(K) characteristics - Answer -Currently $49,000 maximum contribution The following are examples of Qualified Retirement Plans except: - Answer -501c(3) Which of the following is not correct regarding Long Term Care - Answer -It provides different benefits for different levels of care Medicare Select is a type of? - Answer -Medicare Supplement plan offered by an HMO Which of the following statements is correct regarding Medicare Advant...

(Choose from the following options) 1. 30 days 2. The name must be changed immediately. 3. 5 business days 4. 10 days - Answer -10 days A producer who continues to use a unapproved trade name for 10 or more days after being notified will face a fine of up to $5,000. What was created to keep telemarketers from calling consumers who do not wish contacted? (Choose from the following options) 1. Call Control Registry 2. National Do Not Call Registry 3. Confidential No Call Act ...

Premium - Answer -The payment required to keep the policy active. Typically paid monthly but can also be paid quarterly, semiannually, or annually. Claim - Answer -A formal request for payment after a covered loss. Required for compensation from the insurance company. Life Insurance - Answer -Provides a financial payout to beneficiaries after the insured's death. Health Insurance - Answer -Covers medical expenses, including treatments, surgeries, and preventive care. Disabil...

A change in an insurance application requires - Answer -an initial made by the applicant. A clause that allows an insurer the right to terminate coverage at any anniversary date is called a(n) - Answer -optional renewability clause A comman exclusion with Vision plans is - Answer -lasik surgery A company that is authorized by the Commissioner to transact insurance business in Louisiana is called a(n) - Answer -authorized insurer A dependent child may remain on a parents health in...

Jonas is a whole life insurance policyowner and would like to add coverage for his two children. Which of the following products would allow him to accomplish this? - Answer -Child term rider The elimination period under a hospital indemnity plan is? - Answer -The specified number of days an insured must wait before becoming eligible to receive benefits for each hospitalization All of the following are included as part of a contract in the entire contract provision except the - Answer -...

LOUISIANA LIFE AND HEALTH FINAL EXAM QUESTIONS An insurer operating in the U.S. but headquartered outside the U.S. is - Answer -an alien insurer Group dental plans will frequently place a limit on annual benefits in order to minimize - Answer -adverse selection All of the following are considered to be fraud EXCEPT - Answer -collecting a charge for insurance that is less than the charge applicable to that insurance A producer's license in Louisiana must be renewed every - Answer...

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