Webce Test Newest 2026 Questions and
Correct Detailed Answers Already Graded
A+
if a policyowner partially surrenders an adjustable life policy, which of the
following happens?
-the premium stays level
-the premium goes up proportionately
-the premium goes down
-the premium goes down by the amount of the withdrawal - CORRECT
ANSWER-when a policyowner partially surrenders an adjustable life policy, the
premium goes down. It proportionately reduces the policy's death benefit and
future premium
sandy and cindy are healthy, 45 years old, and have similar life expectancies.
though they are insured by the same company, sandy's life insurance premiums
are considerably lower than cindy's. what may this indicate a case of?
-misrepresentation
-unfair discrimination
,-twisting
-false advertising - CORRECT ANSWER-unfair discrimination
agent monroe helped her client brian enter into a viatical settlement agreement
with best insurers. which of the following parties will get the life insurance
proceeds upon brians death?
-brian's beneficiaries under his will
-agent monroe
-agent monroe and best insurers
-best insurers - CORRECT ANSWER-Best Insurers will get the proceeds
Len decided to surrender his policy for its cash value. All the following statements
concerning his decision are correct EXCEPT:
-the insurer will send len a check for the policy's cash surrender value
-the insurer may decide to pay the cash value either in a lump sum or monthly
installments
-the policy is cancelled and the insurer's responsibility under the contract ends
,-the policy cannot be reinstated - CORRECT ANSWER-It's not true that the
insurer may decided to pay the cash value either in a lump sum or in monthly
installments. The insurer is required to pay it in a lump sum
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 own life
only pure risk is insurable. Pure risk may only result in a loss, unlike speculative
risk which may result in a gain.
Agent Jill received a letter from the Department of insurance asking her to submit
verification of having completed the continued education requirements for the
previous licensing period. Three weeks later, the department sent another letter.
Which penalty may the Department impose if Jill has still not responded to their
, request a month later? - CORRECT ANSWER-a fine up to $100 per day per
violation
A producer has 30 days to respond to a written inquiry from the Department
Jim's policy expired due to nonpayment of premium. His agent sends him a
statement the following month without notice of the lapse. If Jim pays the
premium and later suffers a loss for which he files a claim, what will prevent the
insurer from denying the claim?
-estoppel
-utmost good faith
-reasonable expectations
-waiver - CORRECT ANSWER-estoppel
BBC insurers filed premium rates for its new line of variable products on January
15. Within how many days must the commissioner approve or disapprove the
rates? - CORRECT ANSWER-30 days
all rate filings are subject to a 30-day waiting period before they become
effective.
Correct Detailed Answers Already Graded
A+
if a policyowner partially surrenders an adjustable life policy, which of the
following happens?
-the premium stays level
-the premium goes up proportionately
-the premium goes down
-the premium goes down by the amount of the withdrawal - CORRECT
ANSWER-when a policyowner partially surrenders an adjustable life policy, the
premium goes down. It proportionately reduces the policy's death benefit and
future premium
sandy and cindy are healthy, 45 years old, and have similar life expectancies.
though they are insured by the same company, sandy's life insurance premiums
are considerably lower than cindy's. what may this indicate a case of?
-misrepresentation
-unfair discrimination
,-twisting
-false advertising - CORRECT ANSWER-unfair discrimination
agent monroe helped her client brian enter into a viatical settlement agreement
with best insurers. which of the following parties will get the life insurance
proceeds upon brians death?
-brian's beneficiaries under his will
-agent monroe
-agent monroe and best insurers
-best insurers - CORRECT ANSWER-Best Insurers will get the proceeds
Len decided to surrender his policy for its cash value. All the following statements
concerning his decision are correct EXCEPT:
-the insurer will send len a check for the policy's cash surrender value
-the insurer may decide to pay the cash value either in a lump sum or monthly
installments
-the policy is cancelled and the insurer's responsibility under the contract ends
,-the policy cannot be reinstated - CORRECT ANSWER-It's not true that the
insurer may decided to pay the cash value either in a lump sum or in monthly
installments. The insurer is required to pay it in a lump sum
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 own life
only pure risk is insurable. Pure risk may only result in a loss, unlike speculative
risk which may result in a gain.
Agent Jill received a letter from the Department of insurance asking her to submit
verification of having completed the continued education requirements for the
previous licensing period. Three weeks later, the department sent another letter.
Which penalty may the Department impose if Jill has still not responded to their
, request a month later? - CORRECT ANSWER-a fine up to $100 per day per
violation
A producer has 30 days to respond to a written inquiry from the Department
Jim's policy expired due to nonpayment of premium. His agent sends him a
statement the following month without notice of the lapse. If Jim pays the
premium and later suffers a loss for which he files a claim, what will prevent the
insurer from denying the claim?
-estoppel
-utmost good faith
-reasonable expectations
-waiver - CORRECT ANSWER-estoppel
BBC insurers filed premium rates for its new line of variable products on January
15. Within how many days must the commissioner approve or disapprove the
rates? - CORRECT ANSWER-30 days
all rate filings are subject to a 30-day waiting period before they become
effective.
