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WEBCE Insurance Exam 2024 Questions with 100% Correct Answers | Verified | Latest Update

WEBCE Practice Exam 2024 Questions with 100% Correct Answers | Verified | Latest Update

What is the Primary Goal of Long Term Care Correct Answer To maintain functionality Which of the following most precisely defines the fundamentals of self-care and the basic tasks of life? Correct Answer Activities of daily living Long Term Care occurs only in nursing facilities. Correct Answer False On what basis are benefits payable under a long term care insurance policy typically triggered? Correct Answer the inability to perform defined ADLs A long-term care ombudsman represents...

Which medical plan covers doctor visits while the insured is in the hospital and physical therapy treatments following release from the hospital? limited medical policy basic hospital expense policy comprehensive major medical insurance supplementary major medical insurance Correct Answer comprehensive major medical insurance A comprehensive major medical plan covers hospital expenses and doctor and surgeon fees. A basic hospital expense policy covers the cost of hospitalization, but no...

Buying life or health insurance is an example of which risk management technique? risk avoidance risk reduction risk retention risk transfer Correct Answer risk transfer What is the mathematical concept of probability that helps insurers estimate the statistical likelihood of mortality or morbidity losses at any given age? law of large numbers underwriting principle law of probability actuarial principle Correct Answer law of large numbers A person who refuses to engage is risk...

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? She must move to Pennsylvania. She must surrender her Ohio license. She must be sponsored by a producer licensed in Pennsylvania. She must show her Ohio license is in good standing. Correct Answer she must show her Ohio license is in good standing An annuity settlement option with a life contingency is o...

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

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 Correct Answer Stan and his neighbors are not eligible to purchase group life insuranc...

On what basis are benefits payable under a long-term care insurance policy typically triggered? A) the diagnosis of an acute medical condition B) the number and types of medications prescribed C) the inability to perform of medications prescribed D) all of the above Correct Answer C) The inability to perform defined ADLs The inability to perform defined ADLs. Benefits payable under a long-term care policy are typically based on (or "triggered" by) the inability to perform a certain...