PRIMERICA LIFE INSURANCE EXAM
2024 ACTUAL EXAM COMPLETE 300
QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT
ANSWERS) / ALREADY GRADED A+
An insured purchased a life insurance policy on his
life naming his wife as primary beneficiary, and his
daughter as contingent beneficiary. Under what
circumstances could the daughter collect the death
benefit?
a) If the primary beneficiary predeceased the
insured
b) When the insured dies, the primary and contingent
beneficiaries share death benefits equally.
c)With the primary beneficiary's written consent
d)If the insured died from accidental means -
....ANSWER...If the primary beneficiary predeceased
the insured
,Reason: The daughter, as contingent beneficiary,
would need to outlive the insured and primary
beneficiary.
An insured misstates her age at the time the life
insurance application is taken. This misstatement
may result in
a) Recession of the policy.
b) Adjustment in the amount of death benefit.
c)No change whatsoever.
d)Automatic lapse. - ....ANSWER...Adjustment in the
amount of death benefit
Reason: If the applicant has misstated his or her age
or gender on the application, the insurer, in the
event of a claim, is allowed under this provision to
adjust the benefits to an amount that the premium at
the correct age or gender would have otherwise
purchased.
If an annuitant dies before annuitization occurs, what
will the beneficiary receive?
a) Either the amount paid into the plan or the cash
value of the plan, whichever is the greater amount
,b) Either the amount paid into the plan or the cash
value of the plan, whichever is the lesser amount
c)Amount paid into the plan
d)Cash value of the plan - ....ANSWER...Either the
amount paid into the plan or the cash value of the
plan, whichever is the greater amount
Reason: If an annuitant dies before annuitization, the
beneficiary will receive either the amount paid into
the plan or the cash value of the plan, whichever is
greater.
Which of the following types of risk will result in the
highest premium?
A) Substandard risk
b) Standard risk
c)Preferred risk
d)All risks pay equal premiums -
....ANSWER...Substandard Risk
Reason: The "substandard" rating indicates that an
individual represents an under-average insurance
risk because of physical condition, personal or
family history of disease, occupation, habits or
hobbies. This rating incurs the highest premium if
policy is issued.
, What is a definition of a unilateral contract?
a) If one party makes a condition, the other party can
counteroffer.
b) One-sided: only one party makes an enforceable
promise.
c)Two or more parties go into a contract
understanding there may be an unequal exchange of
value.
d)One author: the company wrote the contract; the
insured must accept it as written. -
....ANSWER...One-sided: only one party makes an
enforceable promise.
Reason: An insurance contract is unilateral in that
only one of the parties to the contract is legally
bound to do anything.
Which services are associated with Standard &
Poor's and AM Best?a)Providing employment
histories for investigative consumer reports
b)Storing medical information collected by insurance
companies
c)Rating the financial strength of insurance
companies
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