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Primerica Test bank questions with correct answers graded A+The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) conditional receipt Statements in the application for insurance that are believed to be true to the...

Primerica Life Insurance fully solved 2023Risk uncertainty of a financial loss; 2 types Two typed of risks Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? You get to transfer financial risk left after passing to insurance company Law of large ...

Primerica life insurance state exam correctly answered 2023Deferred Annuity An annuity in which the income payments begin sometime after one year from the date of red annuities can be funded with a single lump sum payment so it is referred to as a single premium differed annuities. Human lif...

Life Insurance Primerica questions and answers k plan A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment Absolute: A permanent and irrevocable transfer of rights and/or benefits by...

Primerica-Life Insurance questions with complete solution 2023Stranger-oriented life insurance policies are in direct opposition to the principle of a. law of large numbers b. good faith c. indemnity d. insurable interest d. insurable interest-STOLI purchaser doesn't know the insured, or have ...

Primerica Insurance Exam: General Insurance correctly answered 2023Insurance A contract in which one party agrees to indemnify the insured party against loss, damage or liability from an unknown event. Insurance transfers The reduction, decrease, or disappearance of value of the person or p...

Primerica test bank part 1 correctly answered 2023An insured under a life insurance policy has been diagnosed with a terminal illness and has 6 months to live. The insured knows that his financial state will worsen even more with the upcoming medical expenses. What option could the insured utilize? ...

Primerica Focused exam (basic principles) questions and answers 2023which of the following insurance would be considered risk-sharing a arrangement? reciprocal. Units with the same or similar exposure to loss are referred to as homogeneous The growing tendency of individuals to file ...

Primerica Chapter 1 questions and answers 100% correctWhat do individuals use to transfer their risk of loss to a larger group? Insurance Best Describe the MIB Nonprofit organization that maintains underwriting information on applicants for life and health insurance An Insurer neglec...

Primerica - Exam test Questions and answers 2023An insurer has made all of the decisions regarding the provisions included in the insured's policy. The insured finds an objectionable provision and wants to negotiate it with the insurer but is not allowed to do so. Her only options are to reject the...

Primerica Chapter 3: Life insurance policies correctly answered 2023Attained Age Insured's age at the time the policy is issued or renewed. Deferred Witheld or postponed until a specific time or event in the future. Endow to have cash value of a whole life policy reach the contract...

Primerica - Life Insurance Basics (AZ) correctly answered 2023All of the following are duties and responsibilities of producers at the time of application EXCEPT A - Change any incorrect statement on the application by personally initialing next to the corrected statement. B - Explain the nature...