8/28/24, 12:03 PM PRIMERICA LIFE INSURANCE EXAM 2024/2025 MOST TESTED EXAM COMPLETE 300 QUESTIONS WITH DETAILED V…
PRIMERICA LIFE INSURANCE EXAM 2024/2025
MOST TESTED EXAM COMPLETE 300
QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS) /
ALREADY GRADED A+
Terms in this set (194)
An insured purchased an A. mutual
insurance policy 5 years
ago. Last year, she funds not paid out after paying claims and other
received a dividend check operating costs are returned to the policy owners in
from the insurance the form of a dividend. if all funds are paid out, no
company that was not dividends are paid
taxable. This year, she did
not receive a check from
the insurer. From what type
of insurer did the insured
purchase the policy?
a. mutual
b. reciprocal
c. nonprofit service
organization
d. stock
,8/28/24, 12:03 PM PRIMERICA LIFE INSURANCE EXAM 2024/2025 MOST TESTED EXAM COMPLETE 300 QUESTIONS WITH DETAILED V…
Following a career change, B. reduction
an insured is no longer
required to perform many the insured's change in lifestyle and habits would likely
physical activities, so he reduce the chances of health problems
has implemented a
program where he walks
and jogs for 45 minutes
each morning. The insured
has also eliminated most
fatty foods from his diet.
Which method of dealing
with risk does this scenario
describe?
a. retention
b. reduction
c. transfer
d. avoidance
In insurance, an offer is A. an applicant submits an application to the insurer
usually made when
in insurance, the offer is usually made by the applicant
a. an applicant submits an in the form of an application. acceptance takes place
application to the insurer when an insurer's underwriter approves the application
b. the insurer approves the and issues a policy
application and receives
the initial premium
c. the agent hands the
policy to the policyholder
d. an agent explains a
policy to a potential
applicant
,8/28/24, 12:03 PM PRIMERICA LIFE INSURANCE EXAM 2024/2025 MOST TESTED EXAM COMPLETE 300 QUESTIONS WITH DETAILED V…
the causes of loss insured A. perils
against in an insurance
policy are known as perils are the causes of loss insured against in an
insurance policy
a. perils
b. losses
c. risks
d. hazards
what documentation A. agents contract with the principal
grants express authority to
an agent? the principal grants authority to an agent through the
agent's contract
a. agents contract with the
principal
b. agents insurance license
c. fiduciary contract
d. state provisions
which of the following best A. domestic
describes an insurance
company that has been a company is domestic when doing business within the
formed under the laws of state in which it is incorporated
this state?
a. domestic
b. sovereign
c. alien
d. foreign
which of the following D. race
factors is NOT considered
by an underwriter when age, medical history, and sex provide sound statistical
determining the premium date for determining the probability of loss. Race,
rates for an individual religion, sexual orientation, etc. are the factors that
seeking insurance? cannot be used because there is not sound statistical
data to show that they effect the probability of loss;
a. medical history therefore, they are considered to be discriminatory
b. sex
c. age
d. race
, 8/28/24, 12:03 PM PRIMERICA LIFE INSURANCE EXAM 2024/2025 MOST TESTED EXAM COMPLETE 300 QUESTIONS WITH DETAILED V…
in insurance transactions, A. handling insurer funds in a trust capacity
fiduciary responsibility
means an agents fiduciary responsibility includes handling
insurer funds in a trust capacity
a. handling insurer funds in
a trust capacity
b. maintaining good credit
record
c. being liable with respect
to payment of claims
d. commingling premiums
with agents personal funds
the authority granted to an B. express authority
agent through the agent's
contract is referred to as express powers are written into the contract between
the insurer and the agent
a. absolute authority
b. express authority
c. apparent authority
d. implied authority
insurance policies are not D. adhesion
drawn up though
negotiations, and an a contract of adhesion is prepared by only the insurer;
insured has little to say the insured's only option is to accept or reject the
about its provisions. what policy as its written
contract characteristic
does this describe?
a. unilateral
b. conditional
c. personal
d. adhesion
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