Primeric - Study guides, Class notes & Summaries

An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not 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 (Ans- A. mutual funds not paid out after paying claims and other operating costs are returned to the policy owners in the form of a dividend. if all funds are...

Primerica Life Insurance Exam 2023 Guaranteed Pass,you should study this

PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2023/2024 WITH RATIONALES GUARANTEED PASS

1. The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Answer conditional receipt 2. Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called Answer representations 3. An annuity is considered fixed when it does all of the following EXCEPT Answer - provides the annuitant with an interest rate that is the lesser of the guaranteed or current rat...

Primerica Life Insurance 2023/ 2024 Updated Exam | (Questions and Verified Answers with Rationales) 100% Correct Q: which of the following insurers are owned by stockholders who have the usual rights of ownership, including the right of voting? A. Reciprocal B. Fraternal C. Stock D. Mutual Answer: C. Stock Only stock insurance companies are owned and controlled by stockholders Q: which of the following best describes the concept that the insured pays a small amount of prem...

primerica exam review Questions and Answers 2023 If an insurer meets the state's financial requirements and is approved to transact business in the state, it is considered to be Authorized A participating insurance policy may do which of the following? Pay dividends to the policy owner An insured owns a life insurance policy. To be able to pay some of her medical bills, she withdraws a portion of the policy's cash value. There is a limit for a withdrawal and the insurer charge...

Primerica Practice Exam Test A 75 Questions & Answers 2023 1. An annuity that is purchased with a lump sum premium and whose benefits begin after 12 months is called a: A. Single premium immediate annuity. B. Single premium deferred annuity. C. Level premium variable annuity. D. Flexible premium fixed annuity. - Correct answer-Single premium deferred annuity 2. A technique used to determine the amount of life insurance needed by focusing on the projected earning potential of an insured ...