WEBCE Test Questions and Answers With Latest Updates2023/2024 Rated A

WEBCE Test Questions and Answers With Latest Updates2023/2024 Rated A

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 ✔Ans✔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 whichmayresult in a gain. Agent Jill received a letter from the Department of insurance asking her to submit verificationof 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? ✔Ans✔a fine up to$100per day per violation