Primerica exam 3 - Study guides, Class notes & Summaries

Primerica Life Insurance Exam: 2023/ 2024 New Update (Questions and 100% Verified Answers) 1. A married couple owns a permanent policy which covers both of their lives and pays the benefit only upon the death of the first insured. Which policy is that? A. Survivorship Life Policy B. Second-to-Die C. Family income policy D. Joint life policy Answer: D. Joint life policy 2. An annuity owner is funding an annuity that will supplement her retirement. Because she does not...

Primerica Exam 3

All of the following are true regarding a qualified annuity EXCEPT correct answer: At distribution, all amounts received by the employee are tax free. What type of insurance would be used for a Return of Premium rider? correct answer: Increasing Term Which of the following is the best reason to purchase life insurance rather than annuities? correct answer: To create an estate Every expressed warranty made at or before the execution of a policy must be correct answer: Contained in an...

Primerica Exam 3 Latest Update ...

Primerica Part 3 Exam activities of daily living (ADLs) - Answer ️️ -a person's essential activities that include bathing, dressing, eating, transferring, toileting, continence assignment - Answer ️️ -transfer of rights of policy ownership consideration - Answer ️️ -something of value that each party gives to the other (binding force in any contract). indemnity - Answer ️️ -a principle of reimbursement on which insurance is based; in the event of loss, an insurer reimburs...

Primerica Practice Exam B Questions With Verified Answers 1. The annuity income amount is based on whose life? A. Owner B. Insured C. Annuitant D. Beneficiary - answerannuitant 2. An injured party to a contract is able to rescind the contract for A. Representations. B. Unintentional concealment C. Health problems D. Financial difficulties. - answerunintentional concealment 3. A whole life policy that will generate immediate cash value is A. Single premium. B. Continuous premium. C...

Primerica Chapter 3: Life insurance policies Exam Questions With Verified Answers Attained Age - answerInsured's age at the time the policy is issued or renewed. Deferred - answerWitheld or postponed until a specific time or event in the future. Endow - answerto have cash value of a whole life policy reach the contractural face amount. Face Amount - answerThe amount of benefit stated in the LIP. Fixed Life Insurance Products - answercontracts that offer guaranteed minimum or fixed benefi...

Primerica Practice Exam B Questions With Verified Answers 1. The annuity income amount is based on whose life? A. Owner B. Insured C. Annuitant D. Beneficiary - answerannuitant 2. An injured party to a contract is able to rescind the contract for A. Representations. B. Unintentional concealment C. Health problems D. Financial difficulties. - answerunintentional concealment 3. A whole life policy that will generate immediate cash value is A. Single premium. B. Continuous premium. C...

Primerica Chapter 3: Life insurance policies Exam Questions With Verified Answers Attained Age - answerInsured's age at the time the policy is issued or renewed. Deferred - answerWitheld or postponed until a specific time or event in the future. Endow - answerto have cash value of a whole life policy reach the contractural face amount. Face Amount - answerThe amount of benefit stated in the LIP. Fixed Life Insurance Products - answercontracts that offer guaranteed minimum or fixed benefi...