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LIFE INSURANCE EXAM: PRIMERICA LIFE INSURANCE EXAM 2025|Actual Exam Set Questions And Verified Answers (Correct solutions) | Get It 100% Accurate!!$22.99
1/22/25, 10:36 AM LIFE INSURANCE EXAM: PRIMERICA LIFE INSURANCE EXAM 2025|Actual Exam Set Questions And Verified Answers (C…
LIFE INSURANCE EXAM: PRIMERICA LIFE
INSURANCE EXAM 2025|Actual Exam Set
Questions And Verified Answers (Correct
solutions) | Get It 100% Accurate!!
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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 operating costs are returned to the policy owners in
check 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
,1/22/25, 10:36 AM LIFE INSURANCE EXAM: PRIMERICA LIFE INSURANCE EXAM 2025|Actual Exam Set Questions And Verified Answers (C…
Following a career B. reduction
change, an insured is no
longer required to the insured's change in lifestyle and habits would
perform many physical likely reduce the chances of health problems
activities, so he 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
a. an applicant submits an applicant in the form of an application. acceptance
application to the insurer takes place when an insurer's underwriter approves
b. the insurer approves the application and issues a policy
the 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
,1/22/25, 10:36 AM LIFE INSURANCE EXAM: PRIMERICA LIFE INSURANCE EXAM 2025|Actual Exam Set Questions And Verified Answers (C…
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 A. domestic
best describes an
insurance company that a company is domestic when doing business within
has been formed under the state in which it is incorporated
the laws of this state?
, 1/22/25, 10:36 AM LIFE INSURANCE EXAM: PRIMERICA LIFE INSURANCE EXAM 2025|Actual Exam Set Questions And Verified Answers (C…
which of the following D. race
factors is NOT
considered by an age, medical history, and sex provide sound
underwriter when statistical date for determining the probability of
determining the premium loss. Race, religion, sexual orientation, etc. are the
rates for an individual factors that cannot be used because there is not
seeking insurance? sound statistical data to show that they effect the
probability of loss; therefore, they are considered to
a. medical history be discriminatory
b. sex
c. age
d. race
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 B. express authority
an agent through the
agent's contract is express powers are written into the contract
referred to as between the insurer and the agent
a. absolute authority
b. express authority
c. apparent authority
d. implied authority
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