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PRIMERICA LIFE INSURANCE EXAM WITH ALL ANSWERS CORRECT.
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PRIMERICA LIFE INSURANCE EXAM WITH ALL ANSWERS CORRECT.
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PRIMERICA LIFE INSURANCE EXAMWITH ALL ANSWERS CORRECT
AnRinsuredRpurchasedRanRinsuranceRpolicyR5RyearsRago.RLastRyear,RsheRreceived
RaRdividendRcheckRfromRtheRinsuranceRcompanyRthatRwasRnotRtaxable.RThisRyear,
RsheRdidRnotRreceiveRaRcheckRfromRtheRinsurer.RFromRwhatRtypeRofRinsurerRdidRth
eRinsuredRpurchaseRtheRpolicy?
a.Rmutual
b.Rreciprocal
c.RnonprofitRserviceRorganization
d.RstockR-RcorrectRanswer-A.Rmutual
fundsRnotRpaidRoutRafterRpayingRclaimsRandRotherRoperatingRcostsRareRreturnedRt
oRtheRpolicyRownersRinRtheRformRofRaRdividend.RifRallRfundsRareRpaidRout,RnoRdivi
dendsRareRpaid
FollowingRaRcareerRchange,RanRinsuredRisRnoRlongerRrequiredRtoRperformRmanyRp
hysicalRactivities,RsoRheRhasRimplementedRaRprogramRwhereRheRwalksRandRjogsRf
orR45RminutesReachRmorning.RTheRinsuredRhasRalsoReliminatedRmostRfattyRfoodsR
fromRhisRdiet.RWhichRmethodRofRdealingRwithRriskRdoesRthisRscenarioRdescribe?
a.Rretention
b.Rreduction
c.Rtransfer
d.RavoidanceR-RcorrectRanswer-B.Rreduction
theRinsured'sRchangeRinRlifestyleRandRhabitsRwouldRlikelyRreduceRtheRchancesRofR
healthRproblems
InRinsurance,RanRofferRisRusuallyRmadeRwhen
a.RanRapplicantRsubmitsRanRapplicationRtoRtheRinsurer
b.RtheRinsurerRapprovesRtheRapplicationRandRreceivesRtheRinitialRpremium
,c.RtheRagentRhandsRtheRpolicyRtoRtheRpolicyholder
d.RanRagentRexplainsRaRpolicyRtoRaRpotentialRapplicantR-RcorrectRanswer-
A.RanRapplicantRsubmitsRanRapplicationRtoRtheRinsurer
inRinsurance,RtheRofferRisRusuallyRmadeRbyRtheRapplicantRinRtheRformRofRanRapplic
ation.RacceptanceRtakesRplaceRwhenRanRinsurer'sRunderwriterRapprovesRtheRapplic
ationRandRissuesRaRpolicy
theRcausesRofRlossRinsuredRagainstRinRanRinsuranceRpolicyRareRknownRas
a.Rperils
b.Rlosses
c.Rrisks
d.RhazardsR-RcorrectRanswer-A.Rperils
perilsRareRtheRcausesRofRlossRinsuredRagainstRinRanRinsuranceRpolicy
whatRdocumentationRgrantsRexpressRauthorityRtoRanRagent?
a.RagentsRcontractRwithRtheRprincipal
b.RagentsRinsuranceRlicense
c.RfiduciaryRcontract
d.RstateRprovisionsR-RcorrectRanswer-A.RagentsRcontractRwithRtheRprincipal
theRprincipalRgrantsRauthorityRtoRanRagentRthroughRtheRagent'sRcontract
whichRofRtheRfollowingRbestRdescribesRanRinsuranceRcompanyRthatRhasRbeenRfor
medRunderRtheRlawsRofRthisRstate?
a.Rdomestic
b.Rsovereign
c.Ralien
d.RforeignR-RcorrectRanswer-A.Rdomestic
aRcompanyRisRdomesticRwhenRdoingRbusinessRwithinRtheRstateRinRwhichRitRisRinco
rporated
whichRofRtheRfollowingRfactorsRisRNOTRconsideredRbyRanRunderwriterRwhenRdeter
miningRtheRpremiumRratesRforRanRindividualRseekingRinsurance?
a.RmedicalRhistory
b.Rsex
c.Rage
d.RraceR-RcorrectRanswer-D.Rrace
age,RmedicalRhistory,RandRsexRprovideRsoundRstatisticalRdateRforRdeterminingRtheR
probabilityRofRloss.RRace,Rreligion,RsexualRorientation,Retc.RareRtheRfactorsRthatRca
nnotRbeRusedRbecauseRthereRisRnotRsoundRstatisticalRdataRtoRshowRthatRtheyReffe
ctRtheRprobabilityRofRloss;Rtherefore,RtheyRareRconsideredRtoRbeRdiscriminatory
,inRinsuranceRtransactions,RfiduciaryRresponsibilityRmeans
a.RhandlingRinsurerRfundsRinRaRtrustRcapacity
b.RmaintainingRgoodRcreditRrecord
c.RbeingRliableRwithRrespectRtoRpaymentRofRclaims
d.RcomminglingRpremiumsRwithRagentsRpersonalRfundsR-RcorrectRanswer-
A.RhandlingRinsurerRfundsRinRaRtrustRcapacity
anRagentsRfiduciaryRresponsibilityRincludesRhandlingRinsurerRfundsRinRaRtrustRcapa
city
theRauthorityRgrantedRtoRanRagentRthroughRtheRagent'sRcontractRisRreferredRtoRas
a.RabsoluteRauthority
b.RexpressRauthority
c.RapparentRauthority
d.RimpliedRauthorityR-RcorrectRanswer-B.RexpressRauthority
expressRpowersRareRwrittenRintoRtheRcontractRbetweenRtheRinsurerRandRtheRagent
insuranceRpoliciesRareRnotRdrawnRupRthoughRnegotiations,RandRanRinsuredRhasRlitt
leRtoRsayRaboutRitsRprovisions.RwhatRcontractRcharacteristicRdoesRthisRdescribe?
a.Runilateral
b.Rconditional
c.Rpersonal
d.RadhesionR-RcorrectRanswer-D.Radhesion
aRcontractRofRadhesionRisRpreparedRbyRonlyRtheRinsurer;RtheRinsured'sRonlyRoption
RisRtoRacceptRorRrejectRtheRpolicyRasRitsRwritten
whichRofRtheRfollowingRinsurersRareRownedRbyRstockholdersRwhoRhaveRtheRusualR
rightsRofRownership,RincludingRtheRrightRofRvoting?
a.Rreciprocal
b.Rfraternal
c.Rstock
d.RmutualR-RcorrectRanswer-C.Rstock
onlyRstockRinsuranceRcompaniesRareRownedRandRcontrolledRbyRstockholders
whichRofRtheRfollowingRbestRdescribesRtheRconceptRthatRtheRinsuredRpaysRaRsmall
RamountRofRpremiumRforRaRlargeRamountRofRriskRonRtheRpartRofRtheRinsuranceRco
mpany?R
a.Rsubrogation
b.Rwarranty
c.Raleatory
d.RadhesionR-RcorrectRanswer-C.Raleatory
, anRinsuranceRcontractRisRanRaleatoryRcontractRinRthatRitRrequiresRaRrelativelyRsmal
lRamountRofRpremiumRforRaRlargeRrisk
WhenRanRinsuredRmakesRtruthfulRstatementsRonRtheRapplicationRforRinsuranceRan
dRpaysRtheRrequiredRpremium,RitRisRknownRasRwhichRofRtheRfollowing?
a.RlegalRpurpose
b.RcontractRofRadhesion
c.Racceptance
d.RconsiderationR-RcorrectRanswer-D.Rconsideration
considerationRisRsomethingRofRvalueRthatReachRpartyRgivesRtoRtheRother.RTheRcon
siderationRonRtheRpartRofRtheRinsuredRisRtheRpaymentRofRpremiumRandRtheRrepres
entationsRmadeRinRtheRapplication
whichRofRtheRfollowingRwouldRqualifyRasRaRcompetentRpartyRinRanRinsuranceRcontr
act?
a.RtheRapplicantRisRintoxicatedRatRtheRtimeRofRapplication
b.RtheRapplicantRisR12RyearRoldRstudent
c.RtheRapplicantRisRunderRtheRinfluenceRofRaRmind-
impairingRmedicationRatRtheRtimeRofRapplication
d.RtheRapplicantRhasRaRpriorRfelonyRconvictionR-RcorrectRanswer-
D.RtheRapplicantRhasRaRpriorRfelonyRconviction
whenRanRinsurerRandRinsuredRenterRintoRaRcontract,RbothRpartiesRmustRbeRlegalRo
fRageRandRmentallyRcompetent.RItRisRlegalRforRaRpersonRconvictedRofRaRfelonyRtoR
buyRanRinsuranceRcontract.RAnRintoxicatedRperson,Rhowever,RmayRnotRbeRmentall
yRcompetent,RaR12RyearRoldRstudentRisRconsideredRtoRbeRunderageRinRmostRstate
sRandRaRpersonRunderRmind-
impairingRmedicationRmostRlikelyRwouldRnotRbeRmentallyRcompetent
anRinsurerRneglectsRtoRpayRaRlegitimateRclaimRthatRisRcoveredRunderRtheRtermsRof
RtheRpolicy.RWhichRofRtheRfollowingRinsuranceRprinciplesRhasRtheRinsurerRviolated?
a.Rrepresentation
b.Radhesion
c.Rconsideration
d.RgoodRhealthR-RcorrectRanswer-C.Rconsideration
theRbindingRforceRinRanyRcontractRisRconsideration.RconsiderationRonRtheRpartRofRt
heRinsuredsRtheRpaymentRofRpremiumsRandRtheRhealthRrepresentationsRmadeRinRt
heRapplication.RConsiderationRonRtheRpartRofRtheRinsurerRisRtheRpromiseRtoRpayRin
RtheRevenRofRloss
whichRofRtheRfollowingRisRaRprimaryRsourceRofRinformationRusedRforRinsuranceRun
derwriting?
a.Rapplication
b.RapplicantRinterviews
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