Primerica exam prep Study guides, Class notes & Summaries

Primerica Exam Prep Questions with Answers Latest Updated 2024 Graded A+. An insurer has made all of the decisions regarding the provisions included in the insured's policy. The insured finds an objectionable provision and wants to negotiate it with the insurer but is not allowed to do so. Her only options are to reject the policy or accept it as is. Which contract feature does this describe? a) Unilateral b) Conditional c) Personal d) Adhesion - Answer Adhesion An insurance policy that...

Primerica Exam Prep Questions with Answers 2023/2024 Latest Graded A+. An insurer has made all of the decisions regarding the provisions included in the insured's policy. The insured finds an objectionable provision and wants to negotiate it with the insurer but is not allowed to do so. Her only options are to reject the policy or accept it as is. Which contract feature does this describe? a) Unilateral b) Conditional c) Personal d) Adhesion - Answer Adhesion An insurance policy that o...

PRIMERICA LIFE INSURANCE EXAM 2024/2025 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 - Precise Answer A. mutual funds not paid out after paying claims and other operating costs are returned to the po...

Primerica Ucan Exam Prep Questions With Answers Latest Updated 2024/2025 (GRADED A+) Absolute Assignment v. Collateral Assignment Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit Policy provision that allows full or partial payment of the policy's death benefit before the insured's death if he/she is terminally ill. Accidental Death Benefi...

Primerica Life Insurance Exam Prep| 2023/ 2024 (Questions and Verified Answers) 1. If the cash value exceeds the premiums paid in a whole life policy, what are the tax consequences if the policy is surrendered? Answer: The portion that exceeds the premiums paid is taxable. 2. Betty is the only beneficiary named on her husband Bob', policy which has a Common Disaster provision. They are in a car accident, and Bob dies instantly. Betty lives for 29 days. Who will receive...

Primerica Life Insurance 2023 Exam Prep (Questions and Verified Answers) New Update 1. What is the risk classification for those who are insurable, but present a higher than average risk? ~ Answer: Substandard 2. At age 25, an individual purchased a decreasing term policy. What does that say about the coverage and the premium? ~ Answer: The coverage decreases but the premium stays the same. 3. Underwriting is the process of ~ Answer: Determining the insurance co...

Primerica Exam Practice Questions with Answers | Latest 2023/2024 Graded A+. The policyowner of an adjustable life policy wants to increase the death benefit. Which of the following statements is correct regarding this change? a) The death benefit can be increased by providing evidence of insurability. b) The death benefit cannot be increased. c) The death benefit can be increased only when the policy has developed a cash value. d) The death benefit can be increased only by exchanging the ...