WFG LICENSE PRACTICE EXAM QUESTIONS
Accelerated benefits - Answers -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?
Driving - Answers -All of the following are classified as life activities by the ADA
(Americans with Disabilities Act) EXCEPT:
A misdemeanor - Answers -An insurer selling without a license would be guilty of which
of the following?
100% - Answers -The enrollee pays what percentage of the premium for Medicare Part
B?
Captive insurer - Answers -An insurer created to cover a parent company's loss
exposures and owned by the parent company is a:
Termination of a key employee - Answers -An organization will be ineligible to hold a
license for all of the following reasons EXCEPT:
Quickly sending a premium to the home office on behalf of the insured - Answers -
Agents should act in a fiduciary duty on their client's behalf. Which of the following best
describes this duty?
Revocable beneficiary - Answers -A beneficiary which can be changed by the insured
without his or her consent is a:
Insurers can offer policies that include only the core benefits - Answers -In regards to
Medicare Supplements, which of the following is true?
Immunization agents - Answers -Prescription drug plans generally cover all of the
following EXCEPT
KAS and Associates underwriting for RWS Insurance Corporation - Answers -KAS and
Associates is an agency which represents RWS Insurance Corporation. KAS and
Associates may leave the
name KAS Insurance Corporation in its advertisements by clearly stating the
relationship between the two businesses in
any of the following ways EXCEPT:
After the deductible, the insurer and insured will share the remainder of the loss on a
fixed percentage
basis - Answers -A co-insurance clause in a health insurance policy requires which of
the following?
, Policies which are non-par pay large dividends - Answers -All of the following are true
in regards to dividends EXCEPT:
False - Answers -The additional premium charged to pay for the accidental death
benefit rider increases the cash value of the policy.
Domestic insurer - Answers -An insurer organized under the laws of California is a:
36 months - Answers -COBRA allows continuation for a maximum period of how long?
Preventative care - Answers -HMOs try to contain costs by stressing:
The policy owner generally selects the dividend option at the time of purchase -
Answers -All of the following statements regarding dividends are false EXCEPT:
Variable annuity - Answers -An individual purchased an annuity 15 years ago and plans
on retiring in four years. In order to determine the value of
the annuity, he or she must multiply the number of accumulation units by the value of an
accumulation unit in the
separate account. What type of annuity is this?
Compassion - Answers -An agent selling long-term care to a prospect owes the
prospect all of the following EXCEPT:
This is an occupational injury - Answers -Pamela is injured at work and taken to the
hospital where she is provided care for several weeks. Her employer
provides her with a non-occupational group health insurance plan. This policy will not
cover Pamela's care because:
An insurance agent - Answers -Under the CIC, a life agent is:
Reinsurers - Answers -All of the following are private insurers EXCEPT:
Death benefits are usually exempt from taxation - Answers -Which of the following
is/are true regarding the taxation of life insurance?
Group life - Answers -All of the following are considered to be ordinary life insurance
EXCEPT:
10 and 2 high deductible - Answers -How many Medicare Supplements are there?
To cover lost earnings due to the death of the valued employee - Answers -An
employer would purchase key person life insurance on a valued employee for which of
the following reasons?
Accelerated benefits - Answers -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?
Driving - Answers -All of the following are classified as life activities by the ADA
(Americans with Disabilities Act) EXCEPT:
A misdemeanor - Answers -An insurer selling without a license would be guilty of which
of the following?
100% - Answers -The enrollee pays what percentage of the premium for Medicare Part
B?
Captive insurer - Answers -An insurer created to cover a parent company's loss
exposures and owned by the parent company is a:
Termination of a key employee - Answers -An organization will be ineligible to hold a
license for all of the following reasons EXCEPT:
Quickly sending a premium to the home office on behalf of the insured - Answers -
Agents should act in a fiduciary duty on their client's behalf. Which of the following best
describes this duty?
Revocable beneficiary - Answers -A beneficiary which can be changed by the insured
without his or her consent is a:
Insurers can offer policies that include only the core benefits - Answers -In regards to
Medicare Supplements, which of the following is true?
Immunization agents - Answers -Prescription drug plans generally cover all of the
following EXCEPT
KAS and Associates underwriting for RWS Insurance Corporation - Answers -KAS and
Associates is an agency which represents RWS Insurance Corporation. KAS and
Associates may leave the
name KAS Insurance Corporation in its advertisements by clearly stating the
relationship between the two businesses in
any of the following ways EXCEPT:
After the deductible, the insurer and insured will share the remainder of the loss on a
fixed percentage
basis - Answers -A co-insurance clause in a health insurance policy requires which of
the following?
, Policies which are non-par pay large dividends - Answers -All of the following are true
in regards to dividends EXCEPT:
False - Answers -The additional premium charged to pay for the accidental death
benefit rider increases the cash value of the policy.
Domestic insurer - Answers -An insurer organized under the laws of California is a:
36 months - Answers -COBRA allows continuation for a maximum period of how long?
Preventative care - Answers -HMOs try to contain costs by stressing:
The policy owner generally selects the dividend option at the time of purchase -
Answers -All of the following statements regarding dividends are false EXCEPT:
Variable annuity - Answers -An individual purchased an annuity 15 years ago and plans
on retiring in four years. In order to determine the value of
the annuity, he or she must multiply the number of accumulation units by the value of an
accumulation unit in the
separate account. What type of annuity is this?
Compassion - Answers -An agent selling long-term care to a prospect owes the
prospect all of the following EXCEPT:
This is an occupational injury - Answers -Pamela is injured at work and taken to the
hospital where she is provided care for several weeks. Her employer
provides her with a non-occupational group health insurance plan. This policy will not
cover Pamela's care because:
An insurance agent - Answers -Under the CIC, a life agent is:
Reinsurers - Answers -All of the following are private insurers EXCEPT:
Death benefits are usually exempt from taxation - Answers -Which of the following
is/are true regarding the taxation of life insurance?
Group life - Answers -All of the following are considered to be ordinary life insurance
EXCEPT:
10 and 2 high deductible - Answers -How many Medicare Supplements are there?
To cover lost earnings due to the death of the valued employee - Answers -An
employer would purchase key person life insurance on a valued employee for which of
the following reasons?
