Exam (elaborations)
2024 LIFE INSURANCE LICENSING PRIMERICA TEST EXAM WITH CORRECT ANSWERS
- Course
- Institution
2024 LIFE INSURANCE LICENSING PRIMERICA TEST EXAM WITH CORRECT ANSWERS
[Show more]
Content preview
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Elitaa. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83100 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
