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PRIMERICA LIFE INSURANCE TEST LATEST EXAM / COMPLETE
QUESTIONS AND CORRECT VERIFIED ANSWERS |ALREADY GRADED A+
An example of an alien insurer doing business in this state is one formed under the laws of - ANSWER- Mexico
Partners in a business want to make sure that if - ANSWER- Buy-Sell Agreement
Ten years ago an insured purchased a life insurance policy designed to pay his family $500 - ANSWER- Family income policy
An agent delivers a policy to an applicant who pays the initial premium but refuses to submit - ANSWER- Consideration An aleatory contract is based on what kind of exchange - ANSWER- Unequal exchanges of values
Under what circumstances will the contingent beneficiary receive the death benefit - ANSWER- If the primary beneficiary dies before the insured
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Which of the following is NOT a component of an insurance policy premium - ANSWER- Number of beneficiaries
A warranty may relate to which of the following - ANSWER- The past the present and the future will
A college student will graduate next year. His studies have limited his ability to work, so he has borrowed funds to pay for his education - ANSWER- Modified whole life
A person has a history of DUIs. To his insurer, this presents what type of hazard - ANSWER- Morale
Which of the following is not a type of hazard - ANSWER- Exposure
An applicant for a disability insurance policy has a heart condition of which they are unaware and therefore they answer no to the question pertaining to heart problems on their application. Their answer is considered to be a - ANSWER- Representation
Which of the following would be considered peril - ANSWER- Fire
Which of the following is NOT a standard exclusion in life insurance policies - ANSWER- Disability
Joe, age 63, was disabled and can no longer work. He meets the Social Security definition of total disability. How many work credits - ANSWER- 40 2 / 3
To purchase insurance, The policy owner must face the possibility of losing money or something of value in the event of loss. What is this concept called? - ANSWER- Insurable interest
When the owner of a participating whole life policy uses the dividend to provide more life insurance coverage, which of the following dividend options is being used? - ANSWER- Paid up additions
When life insurance proceeds are used to pay inheritance taxes and federal estate taxes, it is known as - ANSWER- Estate conservation
The entire contract includes all of the following EXCEPT - ANSWER- A buyers guide
Concerning the Family Protection Policy, all of the following statements are true EXCEPT - ANSWER- Children, upon reaching the age of majority, are permitted to convert to an individual policy with proof of insurability
An insured bought an insurance policy that requires him to pay $150 in premiums on the 15th of each month. He then takes an extended vacation and forgets to pay the premium - ANSWER- Grace period Variable insurance and variable annuities are regulated by - ANSWER- SEC, FINRA and Departments of Insurance is
If the annuitant dies before the annuity start date, which of the following are true
- ANSWER- The interest is taxable
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