Exam (elaborations)
Primerica online Questions and Answers 2024
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Exam of 3 pages for the course Primerica Life Insurance at Primerica Life Insurance (Primerica online)
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Primerica onlineA situation in which a person can only lose or have no change represents? - answerA.
Pure risk-
Reason: pure risk refers to situation that can only result in a loss or no change pure risk
is the only type insurance companies are willing to accept
Which of the following is not consideration of the insured? - answerA. Promise to submit
timely claims
Reason:
The binding force in any contract is consideration on the part of the insured is the
payment of premiums and the Health representation made In the health representations
made in the application consideration on the part of the insurer is to promise to pay in
the event of loss
An agent and an applicant for a life insurance policy fill out and sign the application
however the applicant doesn't not wish to give the applicant the initial premium and no
conditional receipt is issued when will coverage begin ? - answerA. When the agent
delivers the policy collects the initial premium and the applicant completes a statement
of good health
Employee contributions made to a qualified plan? - answerA. Are subject to vesting
requirements
Which provision of a life insurance policy states the insurers duty to pay the benefits
upon death of the insured and to whom the benefits will be paid - answerA. Insuring
clause
Adverse selection is a concept best described as - answerA. Risks with higher
probability of loss seeking insurance more often then others risks
When both parties to a contract must perform certain duties and follow rules of conduct
to make the contract enforceable the contact is ? - answerA. Conditional
To achieve profitable distribution of exposures - answerA. Preferred risk and poor risk
are balanced between average risk in the middle
When the insured makes truthful statements on the application for insurance and pays
the required premium. it is known as witch of the following - answerA. Consideration
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