PRIMERICA LIFE INSURANCE EXAM ACTUAL EXAM COMPLETE 300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) / ALREADY GRADED A+

PRIMERICA LIFE INSURANCE EXAM ACTUAL EXAM COMPLETE 300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) / ALREADY GRADED A+
1. 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
Correct answer: a. mutual
Explanation: Mutual insurance companies are owned by
policyholders, and they may return excess funds (dividends) to
policyholders when claims and operating costs are less than
collected premiums. These dividends are not taxable as they are
considered a return of overpaid premiums. If all funds are paid
out, no dividends are distributed, which explains why no check
was received this year.

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