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Primerica Pre-Test/Questions and Answers/100% Verified!!
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Primerica Pre-Test/Questions andAnswers/100% Verified!!
Explaining to client the advantages of permanent insurance over term and
suggesting changing policies - -All of the following actions can be described
as twisting EXCEPT
-30 - -Licensees must file with the Department a branch office registration
form within how many days before business is first conducted there?
-Creditor can only insure the debtor for the amount owed. - -Which of the
following is true regarding the insurance amount in a credit life policy?
-Mostly on a state level. - -Insurance is regulated
-Nonresident producers may not conduct business under any name besides
legal names. - -A nonresident licensed producer decides to conduct business
under an assumed name. Which of the following is true?
-5 days - -If a consumer requests additional information concerning an
Investigative Consumer Report, how long does the insurer or reporting
agency have to comply?
-The beneficiary must have insurable interest in the insured. - -Which is
NOT true about beneficiary designations?
-An insured is diagnosed with cancer and needs help paying for her medical
treatment. - -Under which of the following circumstances would an insurer
pay accelerated benefits?
-When death occurs within a specified period of time after the policy was
issued - -When may an insurance company use suicide as a defense against
paying a death claim?
-A copy of the original application for insurance. - -According to the Entire
Contract provision, a policy must contain
-Whether an insurable interest exists between the individuals. - -If an
applicant for a life insurance policy and person to be insured by the policy
are two different people, the underwriter would be concerned about
-Backdating policies to secure a lower premium for the insured - -Which of
the following would NOT be considered a misrepresentation on the part of
the insurer?
, -If the lender has credit insurance, this amount will be paid to the lender. - -
A person takes out a loan in order to pay off his house. He dies several years
later, having paid off only a small portion of the debt. Which of the following
is true?
-$10,000 - -A producer was found guilty of a 3rd violation of the Insurance
Code. What would be the monetary penalty he will have to pay?
-Universal life - -An insured owns a life insurance policy. To be able to pay
some of her medical bills, she withdraws a portion of the policy's cash value.
There is a limit for a withdrawal and the insurer charges a fee. What type of
policy does the insured most likely have?
-Producer contact information - -Which of the following is NOT required
information a producer must provide before soliciting insurance?
-Variable Life - -Solicitation rules would apply to which of the following types
of coverage?
-$25 - -What is the maximum allowed value of a gift that an agent can give
to an insured without violating the regulation on rebating?
-A level annual premium for the life of the insured - -A Straight Life policy
has what type of premium?
-Commissioner - -It is the job of what authority to appoint and remove
officers and other personnel employed within the Department?
-The type of investment. - -In an Adjustable Life policy all of the following
can be changed by the policy owner EXCEPT
-The surviving beneficiary will continue receiving 2/3 of the benefit paid
when both beneficiaries were alive. - -An insured has chosen joint and 2/3
survivor as the settlement option. What does this mean to the beneficiaries?
-The date of medical exam - -An individual applied for an insurance policy
and paid the initial premium. The insurer issued a conditional receipt. Five
days later the applicant had to submit to a medical exam. If the policy is
issued, what would be the policy's effective date?
-A fine up to $5,000 - -An insurance producer refused to comply with a
subpoena. What would be the producer's penalty for this violation?
-$2,500 - -What is the maximum penalty for habitual willful noncompliance
with the Fair Credit Reporting Act?
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