Primerica Life Insurance Exam | 2023/ 2024 (Questions and 100% Verified Answers)
1. The frequency and the amount of the premium payment are known as
... [Show More] what?
Answer: Premium mode
2. What type of insurer uses a formal sharing agreement
Answer: Reciprocal Insurers
3. According to the California Insurance Code any person legally capable of making an insurance policy is considered
Answer: An insurer
4. Which of the following losses would likely be covered under the Accidental Death rider
Answer: Death caused by a head-on collision
5. All of the following are advantages of a qualified retirement plan EXCEPT
Answer: The income at retirement is tax free
6. A life settlement broker
Answer: Negotiates life settlement contracts between an owner and providers
7. A jumping Juvenile Policy is unique in that the death benefit automatically
Answer: Increases as a predetermined age
8. What type of insurance would a person select as the most efficient method of paying the outstanding debt on their home in the event of death
Answer: Mortgage redemption
9. All of the following information needs to be included on an application for life insurance EXCEPT
Answer: Health insurance policies in force
10. Which of the following is an example of a physical hazard?
Answer: Diabetes
11. If an annuity has a guaranteed minimum interest rate, this means
Answer: The interest rate will never drop below the guaranteed minimum
12. According to the life insurance replacement regulations, which of the following would be an example of policy replacement
Answer: A policy is reissued with a reduction in cash value
13. The family term rider incorporates
Answer: Spouse term and children's term
14. When comparing a Joint Life Policy to two individual life policies of the same amount on the same insureds which condition is true
Answer: Joint life has a lower premium that the total of the two individual policies
15. A dentist is off work for 4 months due to a disability. His dental assistants salary would be covered by
Answer: Business Overhead Insurance
16. When an agent delivered an insurance policy to the insured, he collected the initial premium, as well as a document verifying that the insured had not had any injuries or illness since the application date. What is this document called?
Answer: Statement of Good Health
17. Which of the following entities conducts a post-selection process?
Answer: Underwriters [Show Less]