Webce > EXAM > WEBCE TEST EXAM 2025/2026 STUDY QUESTIONS WITH CORRECT VERIFIED ANSWERS WITH RATIONALES 100% GUARANT (All)

WEBCE TEST EXAM 2025/2026 STUDY QUESTIONS WITH CORRECT VERIFIED ANSWERS WITH RATIONALES 100% GUARANTEED PASS | RATED A+

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Chester established a 529 plan for his daughter and contributed $5,000 to the account this year. 6 months later, he withdrew $20k to pay for his daughter's college tuition. Which statement is true? -t ... hey can take a tax deductible for the contribution -chester does not have to pay tax on the distribution -chester must pay tax on the earnings portion of the withdrawal -chester can take an income tax deduction for their withdrawal - Answer>>> chester does not have to pay tax on the distribution because the interest earned and the funds are not taxable When calculating the surviving family's ongoing cash needs at the death of the prospective customer, the agent must consider all of the following expenses EXCEPT: utilities transportation expenses family medical expenses the insured's funeral expenses - Answer>>> the insured's funeral expense is not considered because it is not an ongoing cash need which of the following statements regarding the extended term nonforfeiture option is correct? -If the owner of a lapsed policy does not choose a nonforfeiture option, the insurer is prohibited from automatically applying the extended term insurance option. -Policies issued under the extended term insurance are eligible to receive policy dividends if the surrendered policy had received them. -An extended term option allows the policyowner to continue insurance coverage for some period with a reduced premium. -the extended term option is not available if the original policy was issued on a substandard (rated) basis - Answer>>> the extended term option is not available if the original policy was issued on a substandard (rated) basis lisa is 72 and is thinking of purchasing a fixed deferred annuity to hold the proceeds gained from the recent sale of her house. which of the following may suggest that this product is not well suited for lisa? -Her investment objective is for tax-deferred, guaranteed accumulation. -She has a low risk tolerance. -She may eventually want the annuity to provide lifetime income. -the annuity has a 10 year surrender charge - Answer>>> the annuity has a 10 year surrender charge period [Show More]

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