PRIMERICA LIFE INSURANCE EXAM Questions And Answers
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Course
PRIMERICA LIFE INSURANCE
Institution
PRIMERICA LIFE INSURANCE
individual owns an adjustable policy, sometime he wants to increase the death
benefit in the future, what would be done?
~ it can be increased by providing evidence of insurability
which of the following is true with regards to universal life?
~ premium can be decreased by the insured
eve...
PRIMERICA LIFE INSURANCE
EXAM Questions And
Answers
An insured purchased an insurance policy 5 years ago. Last year, she received a
dividend check from the insurance company that was not taxable. This year, she
did not receive a check from the insurer. From what type of insurer did the
insured purchase the policy?
a. mutual
b. reciprocal
c. nonprofit service organization
d. stock
✓~ A. mutual
funds not paid out after paying claims and other operating costs are returned to
the policy owners in the form of a dividend. if all funds are paid out, no
dividends are paid
,Following a career change, an insured is no longer required to perform many
physical activities, so he has implemented a program where he walks and jogs
for 45 minutes each morning. The insured has also eliminated most fatty foods
from his diet. Which method of dealing with risk does this scenario describe?
a. retention
b. reduction
c. transfer
d. avoidance
✓~ B. reduction
the insured's change in lifestyle and habits would likely reduce the chances of
health problems
In insurance, an offer is usually made when
a. an applicant submits an application to the insurer
,b. the insurer approves the application and receives the initial premium
c. the agent hands the policy to the policyholder
d. an agent explains a policy to a potential applicant
✓~ A. an applicant submits an application to the insurer
in insurance, the offer is usually made by the applicant in the form of an
application. acceptance takes place when an insurer's underwriter approves the
application and issues a policy
the causes of loss insured against in an insurance policy are known as
a. perils
b. losses
c. risks
d. hazards
✓~ A. perils
perils are the causes of loss insured against in an insurance policy
, what documentation grants express authority to an agent?
a. agents contract with the principal
b. agents insurance license
c. fiduciary contract
d. state provisions
✓~ A. agents contract with the principal
the principal grants authority to an agent through the agent's contract
which of the following best describes an insurance company that has been
formed under the laws of this state?
a. domestic
b. sovereign
c. alien
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