WFG EXAM

1. 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 it's loss...

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 medica...

If an agent fails to obtain an applicant's signature on the application, the agent must - Return the application to the applicant for a signature Why should the producer deliver the policy when the first premium has already been paid? - To help the insured understand all aspects of the contrac...

What is meant by referring to an insurance policy as a unilateral contract? - Only one party makes a legally enforceable promise when must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? - At all time Any situation that presents that possibili...