Primerica exam 5 QUESTIONS WITH COMPLETE SOLUTIONS

Any insurance agent who engages in the insurance business and violates the Code with respect to insurance replacement shall on the first violation correct answer: Be fined a sum of $1,000. What is the purpose of a conditional receipt? correct answer: It is intended to provide coverage on a date prior to the policy issue. If an insurance company wishes to order a consumer report on an applicant to assist in the underwriting process, and if a notice of insurance information practices has been provided, the report may contain all of the following information EXCEPT the applicant's correct answer: Ancestry. An insurance contract requires that both the insured and the insurer meet certain conditions in order for the contract to be enforceable. What contract characteristic does this describe? correct answer: Conditional Which of the following is INCORRECT concerning a noncontributory group plan? correct answer: The employees receive individual policies. Under a pure life annuity, an income is payable by the company correct answer: Only for the life of the annuitant. When a discontinued policy contained a death benefit, what term is used in the CIC to describe the length of