Primerica exam 3 Study guides, Class notes & Summaries

Exam: Primerica Life Insurance 2023/ 2024 New Update (Questions and Verified Answers) 1. Which of the following types of risk will result in the highest premium? A. Substandard risk B. Standard risk C. Preferred risk D. All risks pay equal premiums ~ Answer: A. Substandard risk 2. In the underwriting process, it was determined that the applicant for life insurance is in poor health and has some dangerous habits. Which of the following is true concerning the policy premium? A....

Primerica Life Insurance Exam | 2023/ 2024 Newly Updated!!! (Questions and Verified Answers with Rationales) 100% Correct 1. Which of the following best defines target premium in a universal life policy? ~ Answer: The recommended amount to keep the policy in force throughout its lifetime 2. Which of the following would help prevent a universal life policy from lapsing? ~ Answer: Target premium 3. A Universal Life insurance policy is best described as a/an ~ Answe...

Primerica Life Insurance 2023/ 2024 Exam | (Questions and Verified Answers) 100% Correct 1. Which is the primary source of information used for insurance underwriting? a. applicant interview b. medical records c. private investigations d. application ~ Answer: d. application 2. Two equal partners in a business worth $150,000 are using a Cross Purchase plan to protect against the death of each other. Which of the following statements would be correct? a. partner B buys a polic...

Primerica - Life Insurance EXAM 70 QUESTIONS AND CORRECT ANSWERS 2023. 1. What is insurance?: Transfer of the possibility of loss (risk) to an insurance company. 2. What is a risk?: The uncertainty of financial loss 3. There are two types of loss: Pure and Speculative 4. Which type of loss is insurable?: Pure 5. Why is Pure loss insurable?: Loss must be financial and uncertain. No financial gain can occur. 6. What causes loss?: Peril; such as fire, accident or flood 7. What causes a pe...

Primerica Life Insurance 2023/ 2024 Exam | (Questions and 100% Correct Verified Answers) 1. An applicant wants to buy a policy that has cash value element. Which type should she buy? a. term b. permanent c. stock d. investment Answer: b. permanent- death protection and savings/cash value option 2. What are the personal uses of life insurance? a. insured protection, estate creation and cash accumulation b. cash accumulation, estate depletion and liquidity c. beneficiary p...

Primerica life insurance License chapter 2 Exam Questions With Verified Answers Attained age - answerthe insured's age at the time the policy is issued or renewed cash value - answerA policy's savings element or living benefit face amount - answerthe amount of benefit stated in the life insurance fixed life insurance - answercontracts that offer guaranteed minimum or fixed benefits deferred - answerwithheld or postponed until a specified time or event in the future Endow - answerthe cas...

Primerica - Life Insurance Basics (AZ) Exam Questions With Verified Answers All of the following are duties and responsibilities of producers at the time of application EXCEPT A - Change any incorrect statement on the application by personally initialing next to the corrected statement. B - Explain the nature and type of any receipt the producer is giving to the applicant. C - Probe beyond the stated questions if the producer feels the applicant is misrepresenting or concealing informati...

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 life insurance License chapter 2 Exam Questions With Verified Answers Attained age - answerthe insured's age at the time the policy is issued or renewed cash value - answerA policy's savings element or living benefit face amount - answerthe amount of benefit stated in the life insurance fixed life insurance - answercontracts that offer guaranteed minimum or fixed benefits deferred - answerwithheld or postponed until a specified time or event in the future Endow - answerthe cas...