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Primerica Life Exam Simulator Questions and Answers 100% Solved
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Primerica Life Exam Simulator
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Voorbeeld 2 van de 5 pagina's
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Voorbeeld van de inhoud
Primerica Life Exam SimulatorHarry has just received his life insurance policy. In reviewing the title page, Harry was
able to ascertain the following information EXCEPT
A. His spouse had been assigned the primary beneficiary
B. His children have been covered by a child rider
C. He had purchased a 20-year renewable term insurance policy in the face amount of
$150,000
D. His total annual premium - answerA. His spouse had been assigned the primary
beneficiary
Which of the following settlement options in life insurance is known as straight life?
A. Life with period certian
B. Fixed amount
C. Life income
D. Single life - answerC. Life income
Under a 20-pay whole life policy, in order for the policy to pay the death benefit to a
beneficiary, the premiums must be paid
A. Until the policyowner's age 100, when the policy matures
B. For 20 years or until death, whichever occurs first
C. Until the policyowner reaches age 65
D. For at least 20 years - answerB. For 20 years or until death, whichever comes first
What method is used to determine the taxable portion of each annuity payment?
A. The excise ratio
B. The annuity to age ratio
C. The marginal tax formula
D., The exclusion ratio - answerD. The exclusion ratio
Group life insurance is a single policy written to provide coverage to members of a
group. Which of the following statements concerning group life is CORRECT?
A. Premiums are determined by age, occupation, and individual underwriting
B. 100% participation of members is required in noncontributory plans
C. Each member covered receives a policy
D. Coverage cannot be converted when an individual leave the group - answerB. 100%
Participation of members is required in noncontributory plans
, How many hours of continuing education must agents complete each licensing term?
A. 12
B. 15
C. 24
D. 30 - answerC. 24
An insurance contract requires that both the insured and the insurer meet certain
conditions in order for the contracts to be enforceable. What contract characteristic does
this describe?
A. Contingent
B. Aleatory
C. Unilaterl
D. Conditional - answerD. Conditional
Which of the following is a key distinction between variable whole life and variable
universal life products?
A. Variable universal life is regulated solely through FINRA
B. Variable whole life allows policy loans from the cash value
C. Variable universal life has a fixed premium
D. Variable whole life has a guaranteed death benefit - answerD. Variable whole life has
a guaranteed death benefit
All of the following are requirements for life insurance illustrations EXCEPT
A. They must identify nonguaranteed values
B. They must differentiate between guaranteed and projected amounts
C. They must be part be used as approved
D. They may only be used as approved - answerD. They must be part of the contract
When calculating the amount, a policyowner ay barrow from a variable life policy, what
must be subtracted from the policy's cash value?
A. The face amount
B. Morality costs
C. The cash surrender amount
D. Outstanding loans and interest - answerD. Outstanding loans and interest
A set of legal or regulatory conditions that affect an insurer's ability to collect premiums
commensurate with the level of risk incurred would e considered a(n):
A. Underwriting gamble
B. Legal peril
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