Primerica LIFE INSURANCE Practice Test (BUNDLED ALL TOGETHER )PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS

1. the purpose of laws regarding the replacement of life and annuity contracts includes all of the following except Answer to protect the interests of life insurance and their agents 2. all of the following would fall under the category of an adverse underwriting decision except Answer failure of...

1. Risk: uncertainty of a financial loss; 2 types 2. Two typed of risks: Pure (Insurable) and speculative (uninsurable) 3. Benefits of purchasing insurance?: You get to transfer financial risk left after passing to insurance company 4. Law of large numbers: the larger the size of the group the mo...

1. Which law is the foundation of statistical prediction of loss upon which rates for insurance are calculated? A) Law of Group Evaluation B) Law of Large Numbers C) Law of Masses D) Law of Averages Answer : B) Law of Large Numbers 2. A producer who fails to segregate premium monies from his o...

1. Buyer's Guide ANS Which of the following is a generic consumer publication that explains life insurance in general terms in order to assist the applicant in the decision making process? 2. Respond to the consumers complaint. ANS Under the fair credit reporting act, if the consumer to challeng...

1. The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Answer conditional receipt 2. Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called Answe...