PRIMERICA COMPLETE EXAM PACK|GUARANTEED SUCCESS

Deferred Annuity An annuity in which the income payments begin sometime after one year from the date of red annuities can be funded with a single lump sum payment so it is referred to as a single premium differed annuities. Human life values approach Calculates an individual's life value b...

An insurer has made all of the decisions regarding the provisions included in the insured's policy. The insured finds an objectionable provision and wants to negotiate it with the insurer but is not allowed to do so. Her only options are to reject the policy or accept it as is. Which contract featu...

1. An annuity that is purchased with a lump sum premium and whose benefits begin after 12 months is called a: A. Single premium immediate annuity. B. Single premium deferred annuity. C. Level premium variable annuity. D. Flexible premium fixed annuity. Single premium deferred annuity 2. ...

Guaranteed insurability option An individual is purchasing a permanent life insurance with a face value of $25,000. While this is all the insurance that he can afford at this time, he wants to be sure that additional coverage will be available in the future. Which of the following options should be...

The paid-up addition option uses the dividend To purchase a smaller amount of the same type of insurance as the original policy. An applicant for insurance is requesting more information from her agent about a claim that is currently being settled. Within what time period must the agent resp...

If an insurer meets the state's financial requirements and is approved to transact business in the state, it is considered to be Authorized A participating insurance policy may do which of the following? Pay dividends to the policy owner 00:27 01:41 An insured owns a life ...

Risk uncertainty of a financial loss; 2 types Two typed of risks Pure (Insurable) and speculative (uninsurable) 00:33 01:41 Benefits of purchasing insurance? You get to transfer financial risk left after passing to insurance company Law of large numbers the larger ...

which of the following insurance would be considered risk-sharing a arrangement? reciprocal. Units with the same or similar exposure to loss are referred to as homogeneous 00:11 01:41 The growing tendency of individuals to file lawsuit and to claim tremendous amounts for al...

An insured under a life insurance policy has been diagnosed with a terminal illness and has 6 months to live. The insured knows that his financial state will worsen even more with the upcoming medical expenses. What option could the insured utilize? a) Estate liquidation b) Nonpayment of premium ...

Which insurance principle states that if a policy allows for greater compensation than the financial loss incurred, the insured may only receive benefits for the amount lost? indemnity Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's ...

The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Conditional receipt. Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called Representat...

Which of the following is the best reason to purchase life insurance rather than annuities? to create an estate After approval by the national Association of insurance commissioners the current buyers guide cannot be used for longer than? ... 00:26 01:41 What type of accoun...

Any transaction that involves purchasing a life insurance policy and terminating an existing policy is known as: Replacement According to the CA Insurance Code, in which if the following classes of insurance can a binder NOT be issued? Life Insurance or Auto Insurance 00:01 ...

What percentage of a company's employees must take part in a noncontributory group life plan 100% Which of the following is a feature of a variable annuity Benefit payment amounts are not guaranteed 00:57 01:41 Which of the following products requires a securities license ...