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2024 LIFE INSURANCE LICENSING PRIMERICA TEST EXAM WITH CORRECT ANSWERS
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2024 LIFE INSURANCE LICENSING PRIMERICA TEST EXAM WITH CORRECT ANSWERS
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2024 LIFE INSURANCE LICENSINGPRIMERICA TEST EXAM WITH
CORRECT ANSWERS
Which provision of a life insurance policy states that the application is part of
the contract? - CORRECT ANSWERS-Entire contract clause
Which of the following situations requires a person to be licensed? -
CORRECT ANSWERS-Receive commissions
The settlement option that would provide a beneficiary with the largest
monthly income from a life insurance death benefit is called - CORRECT
ANSWERS-Straight life
Which of the following contains the company's promise to pay the benefits of
a policy - CORRECT ANSWERS-Insuring clause
To solicit insurance in indiana, an out of state producer must obtain what
type of license? - CORRECT ANSWERS-Nonresident
A self-employed individual may own all of the following EXCEPT a - CORRECT
ANSWERS-403(b) tax-sheltered annuity
The life insurance portion of a universal life policy is always what type of
insurance? - CORRECT ANSWERS-Annual renewable term
The intent of the replacement regulations are to protect and educate the -
CORRECT ANSWERS-Consumer
What is limited in a life paid-up at age 65 life insurance policy? - CORRECT
ANSWERS-Number of Payments
A field underwriter is NOT responsible for - CORRECT ANSWERS-Determining
the risk classification of the proposed insured
A person buying life insurance is demonstrating what method of handling risk
- CORRECT ANSWERS-transferring the risk
, In a group policy, the employer receives the - CORRECT ANSWERS-Master
contract
All of the following would have insurable interest EXCEPT a - CORRECT
ANSWERS-Neighbor
The maximum time an insurer has to notify the commissioner that a
producer's appointment was terminated after the effective date is -
CORRECT ANSWERS-30 days
The nonforfeiture option which provides the largest death benefit for an
insured that can no longer make premium payments is called - CORRECT
ANSWERS-Extended term
A temporary license holder may do all of the following EXCEPT - CORRECT
ANSWERS-Write new business
What is the acceptable reason for backdating a policy - CORRECT ANSWERS-
To lower the premium on the policy
Writing insurance policies on your immediate family, business, or employees
is called - CORRECT ANSWERS-Controlled business
Which of the following life insurance policies will provide coverage beyond
the end of the premium payment period - CORRECT ANSWERS-20-pay whole
life
The provision that allows an insurer to deduct premiums from the policy's
cash value to prevent the policy from lapsing is a(n) - CORRECT ANSWERS-
Automatic premium loan
A whole life insurance policy in which the cash value builds faster than a 7-
PAY whole life policy is called a(n) - CORRECT ANSWERS-Modified
endowment contract
Which life nonforfeiture option provides lifetime coverage? - CORRECT
ANSWERS-Reduced paid-up
Four individuals, each 35 years old, purchase the life insurance policies listed
below. Which policy will have the largest cash value after 10 years? -
CORRECT ANSWERS-20-pay life
All marketing communications, regardless of their source, are the
responsibility of the - CORRECT ANSWERS-Insurance company
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