Exam (elaborations)
Primerica guarantee test questions and answers fully solved
- Course
- Institution
Primerica guarantee test questions
[Show more]
Content preview
Primerica guarantee test questionsGuaranteeing future dividends is considered to be an unfair or deceptive act known as -
answer Twisting
An applicant for a disability insurance policy has a heart condition of which they are
unaware and therefore they answer no to the question pertaining to heart problems on
their application. Their answer is considered to be - answer Representation.
If the Insurance Commissioner believes that an insurer has engaged in an unfair
method of competition, what may the Commissioner issue? - answer Cease and desist
order
The manner and/or frequency that the policyowner pays the policy premium is called -
answer Premium mode.
Which of the following statements is true regarding SIMPLE plans? - answer
Contributions and earnings are tax-deferred until funds are withdrawn.
To which of the following do replacement regulations apply in this state? - answer
Whole Life
What guarantees that the information explained in the insurance contract is true? -
answera warranty
When term insurance is added to the main policy to enhance the policy or provide
added benefit or coverage, it is called - answerTerm rider.
If an applicant submits the initial premium with an application which action constitutes
acceptance? - answerThe underwriters approve the application.
Which of the following bears the investment risk in a variable life insurance policy? -
answerThe policy owner
What is the maximum period for a temporary license in this state? - answer6 months
Which of the following individuals would be a likely candidate to purchase a deferred
annuity? - answerSomeone who wants to grow retirement funds tax deferred
Which of the following types of insurance is investment based, has a level fixed
premium, and a non guaranteed cash value? - answerVariable whole life
, The provision that sets forth the basic agreement between the insurer and the insured
and states the insurer's promise to pay the death benefit upon the insured's death is
called the - answerInsuring clause.
For how many years must a life insurance policy be in effect until the policyowner may
be able to take out a policy loan? - answer3 years
With Adjustable Life, the owner can change all of the following EXCEPT - answerthe
length of time the coverage will last
An employee dies having 6 quarters of coverage during the previous 13-quarter period.
What status of coverage does the employee have under Social Security? -
answercurrently insured
Which of the following are characteristics of term life insurance? - answerTemporary
protection, renewability, no cash value
Which of the following is a permissible reason for an insurance company to contest
payment of a claim based on statements in the application? - answerthe application
contains material misstatements
If an insured dies, and it is discovered that the insured misstated his/her age or gender,
the life insurance company will - answerAdjust the death benefit to what the premium
would have purchased at the actual age or gender.
In order to reinstate a life insurance policy the insured must do all of the following
EXCEPT - answerPay any interest due on back premiums.
Which of the following would be likely to establish a SEP? - answerSmall employers
Cash Value guarantees in a whole life policy are called - answerNonforfeiture values.
A stock insurer is defined as an insurer - answerOwned by its stockholders.
Which of the following is NOT an example of the company's location of incorporation? -
answerauthorized
Which of the following would be TRUE of both the fixed-period and fixed-amount
settlement options? - answerBoth guarantee that the principal and interest will be fully
paid out.
Which of the following is true regarding pure life annuity settlement options? - answerIt
provides the highest monthly benefit.
An annuity owner receives the same guaranteed payment every month. What type of
annuity is it? - answerfixed
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller jw638729. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73091 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now