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PRIMERICA LIFE INSURANCE EXAM 2024 WITH 100% ACCURATE ANSWERS
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PRIMERICA LIFE INSURANCE EXAM 2024 WITH 100% ACCURATE ANSWERS
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PRIMERICA LIFE INSURANCE EXAM,PRIMERICA LIFE INSURANCE EXAM
2024 WITH 100% ACCURATE ANSWERS
what happens when a policy is surrendered for its cash value?
a. the policy can be converted to term coverage
b. coverage ends and the policy cannot be reinstated
c. coverage ends but the policy can be reinstated at any time
d. the policy can be reinstated by paying back all policy loans and premiums - correct answersD. the
policy can be reinstated by paying back all policy loans and premiums
what is an example of a limited pay policy? - correct answerslife paid up at 65
When the insured purchased a new home, he wanted to purchase a life insurance policy that would
protect his family against losing it should he die before the mortgage was paid. Which of the following
policies is best suitable for that need? - correct answersdecreasing term
to pay off mortgages
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 - correct answersA. 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 - correct answersB. 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 - correct answersA. 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 - correct answersA. 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 - correct answersA. 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
d. foreign - correct answersA. domestic
a company is domestic when doing business within the state in which it is incorporated
which of the following factors is NOT considered by an underwriter when determining the premium
rates for an individual seeking insurance?
a. medical history
b. sex
c. age
d. race - correct answersD. race
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