Primerica Life Insurance Certification Exam Questions and Answers
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Course
Primerica Life Insurance
Institution
Amsterdam University College (AUC)
Primerica Life Insurance Certification
Exam Questions and Answers
The paid-up addition option uses the dividend - CORRECT ANSWER-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 ...
Primerica Life Insurance Certification
Exam Questions and Answers
The paid-up addition option uses the dividend - CORRECT ANSWER-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 respond? -
CORRECT ANSWER-15 days
Which of the following is NOT a legitimate use of annuities by businesses? - CORRECT
ANSWER-Creating a tax shelter
In determining how material a piece of information is to each party of a contract, the
value is not determined by the event itself, but solely by which of the following? -
CORRECT ANSWER-Influence this information would have in forming an estimate of
the advantages or the disadvantages of the contract.
Which of the following statements concerning buy-sell agreements is true? - CORRECT
ANSWER-Buy-sell agreements are normally funded with a life insurance policy.
When an employer offers to give an employee a wage increase in the amount of the
premium on a new life insurance policy, this is called a(n) - CORRECT ANSWER-
Executive bonus.
When a life insurance policy stipulates that the beneficiary will receive payments in
specified installments or for a specified number of years, what provision prevents the
beneficiary from changing or borrowing from the planned installments? - CORRECT
ANSWER-Spendthrift provision
When an insured under a life insurance policy died, the designated beneficiary received
the face amount of the policy, as well as a refund of all of the premiums paid. Which
rider is attached to the policy? - CORRECT ANSWER-Return of premium
An insurance policy that only requires a payment of premium at its inception, provides
insurance protection for the life of the insured, and matures at the insured's age 100 is
called - CORRECT ANSWER-Single premium whole life.
To which of the following products does the Replacement Regulation apply? -
CORRECT ANSWER-Whole life insurance
An employee will be taxed on the cost of group life insurance paid by the employer if the
amount of coverage - CORRECT ANSWER-$50,000
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