Primerica: stimulated exam

Which insurance principle states that if a policy allows for greater compensation than the financial loss incurred, the insured may only receive benefits for the amount lost? - Answer- indemnity Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or become disabled? - Answer- Payor Benefit Which of the following is NOT an allowable 1035 exchange? - Answer- A whole life insurance policy is exchanged for a term insurance policy. Why is an equity indexed annuity considered to be a fixed annuity? - Answer- It has a guaranteed minimum interest rate. An insured receives an annual life insurance dividend check. What term best describes this arrangement? - Answer- Cash option In addition to examinations that are specifically authorized by the Insurance Code, the Superintendent may examine each domestic life insurer as often as it is deemed necessary for the protection of the consumers. The Code requires examination of domestic life insurers every - Answer- 5 years. If a hearing is scheduled for a producer who has violated regulations regarding unfair trade practices, the Superintendent must send a prior notice within how many days of the hear