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LIFE INSUARANCE (Pramerica) EXAM QUESTIONS AND ANSWERS 100% ACCURATE AND VERIFIED.
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LIFE INSUARANCE (Pramerica) EXAM QUESTIONS AND ANSWERS 100% ACCURATE AND VERIFIED.
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LIFE INSUARANCE (Pramerica) EXAMQUESTIONS AND ANSWERS 100%
ACCURATE AND VERIFIED.
Anytime a new policy is issued that replaces or modifies existing
insurance, a replacement form must be submitted to the ceding company
If authorized to write life and property and casualty insurance, how many
hours of continuing education instruction are producers required to
complete every 2 years?
a. 10
b. 12
c. 14
d. 24
Verified Answer -D. 24
producers in louisiana are required to complete 24 hours of continuing
education every 2 years, regardless of the number of lines for which the
producer is licensed
what is the main justification for the existence of the state insurance
department?
a. to protect producers from the national association of insurance
commission
b. to protect the state from harmful practices of companies and producers
,c. to protect the public
d. to protect companies from malicious lawsuits
Verified Answer -C. to protect the public
the state insurance department exists to protect the public
any payment to a producer from an insurer that is contingent on the sale
of an insurance policy or contract is called a
a. charge fee
b. service fee
c. commission
d. regular fee
Verified Answer -C. commission
producers are normally compensated by commissions where a percentage
of the premium is paid to the producer by the insurance company
which type of assignment would be used for a loan?
a. collateral
b. absolute
c. modified
d. permanent
Verified Answer -A. collateral
,if a policyowner returns a policy 7 days after the policy is delivered, the
insurer will
a. refund a prorated portion of the premium paid
b. refund premium paid minus expenses
c. refund nothing because the insured was covered for 7 days
d. refund the full premium paid
Verified Answer -D. refund the full premium paid
if an insured dies during the grace period, the insurer will pay
a. the full face amount
b. the face amount minus premium due
c. the face amount minus a surrender charge
d. nothing, the contract is null and void
Verified Answer -B. the face amount minus premium due
which of the following is NOT a requirement of the reinstatement
provision?
a. submit the reinstatement application within 3-years of the policy lapsing
b. proof insurability
c. pay back any loans
d. pay backs premium at current attained age
Verified Answer -D. pay backs premium at current attained age
, if an insured dies 3 years after the policy was issued an understated his
age on the application, what will the insurer do?
a. adjust the death benefit
b. pay the full death benefit
c. adjust the premium
d. pay no death benefit and return the premium paid
Verified Answer -A. adjust the death benefit
what is the name of the first beneficiary listed in a policy?
a. primary
b. secondary
c. tertiary
d. contingent
Verified Answer -A. primary
which dividend option would be taxable?
a. reduction of premium
b. paid-up additions
c. cash
d. accumulate at interest
Verified Answer -D. accumulate at interest
which nonforfeiture options prohibits reinstatement of the policy?
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