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BUNDLE for Primerica Life Insurance Tests | With Verified solutions | Guaranteed Success| Latest updated 2024
BUNDLE for Primerica Life Insurance Tests | With Verified solutions | Guaranteed Success| Latest updated 2024
[Meer zien]BUNDLE for Primerica Life Insurance Tests | With Verified solutions | Guaranteed Success| Latest updated 2024
[Meer zien]Risk uncertainty of a financial loss; 2 types 
Two typed of risks Pure (Insurable) and speculative (uninsurable) 
Benefits of purchasing insurance? You get to transfer financial risk left after passing to 
insurance company 
Law of large numbers the larger the size of the group the more accurately t...
Voorbeeld 2 van de 13 pagina's
In winkelwagenRisk uncertainty of a financial loss; 2 types 
Two typed of risks Pure (Insurable) and speculative (uninsurable) 
Benefits of purchasing insurance? You get to transfer financial risk left after passing to 
insurance company 
Law of large numbers the larger the size of the group the more accurately t...
401 k plan A qualified retirement plan in which the 
employee can set aside a portion of their income 
with pre-tax dollars. 
Absolute Assignment v. Collateral 
Assignment Absolute: A permanent and irrevocable transfer 
of rights and/or benefits by the policyowner. 
Collateral: A temporary and/or re...
Voorbeeld 3 van de 30 pagina's
In winkelwagen401 k plan A qualified retirement plan in which the 
employee can set aside a portion of their income 
with pre-tax dollars. 
Absolute Assignment v. Collateral 
Assignment Absolute: A permanent and irrevocable transfer 
of rights and/or benefits by the policyowner. 
Collateral: A temporary and/or re...
Deferred Annuity An annuity in which the income payments begin sometime after one year 
from the date of red annuities can be funded with a single lump sum payment so it 
is referred to as a single premium differed annuities. 
Human life values approach Calculates an individual's life value by look...
Voorbeeld 1 van de 4 pagina's
In winkelwagenDeferred Annuity An annuity in which the income payments begin sometime after one year 
from the date of red annuities can be funded with a single lump sum payment so it 
is referred to as a single premium differed annuities. 
Human life values approach Calculates an individual's life value by look...
An insured under a life insurance policy has been diagnosed with a terminal illness and has 6 
months to live. The insured knows that his financial state will worsen even more with the 
upcoming medical expenses. What option could the insured utilize? 
a) Estate liquidation 
b) Nonpayment of premium...
Voorbeeld 2 van de 10 pagina's
In winkelwagenAn insured under a life insurance policy has been diagnosed with a terminal illness and has 6 
months to live. The insured knows that his financial state will worsen even more with the 
upcoming medical expenses. What option could the insured utilize? 
a) Estate liquidation 
b) Nonpayment of premium...
Stranger-oriented life insurance policies are in direct opposition to the principle of 
a. law of large numbers 
b. good faith 
c. indemnity 
d. insurable interest d. insurable interest-STOLI purchaser doesn't know the insured, or have 
any interest in the insured's longevity, so it violates the p...
Voorbeeld 4 van de 37 pagina's
In winkelwagenStranger-oriented life insurance policies are in direct opposition to the principle of 
a. law of large numbers 
b. good faith 
c. indemnity 
d. insurable interest d. insurable interest-STOLI purchaser doesn't know the insured, or have 
any interest in the insured's longevity, so it violates the p...
Insurance A contract in which one party agrees to indemnify the insured party against loss, 
damage or liability from an unknown event. 
Insurance transfers The reduction, decrease, or disappearance of value of the person or 
property insured in a policy, caused by a named peril. 
Risk The uncertain...
Voorbeeld 2 van de 8 pagina's
In winkelwagenInsurance A contract in which one party agrees to indemnify the insured party against loss, 
damage or liability from an unknown event. 
Insurance transfers The reduction, decrease, or disappearance of value of the person or 
property insured in a policy, caused by a named peril. 
Risk The uncertain...
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. nonp...
Voorbeeld 4 van de 99 pagina's
In winkelwagenAn 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. nonp...
The receipt given to a life insurance applicant when the application is completed and the initial 
premium is received is called a(n) conditional receipt 
Statements in the application for insurance that are believed to be true to the best of the 
applicant's knowledge are called representations 
A...
Voorbeeld 2 van de 8 pagina's
In winkelwagenThe receipt given to a life insurance applicant when the application is completed and the initial 
premium is received is called a(n) conditional receipt 
Statements in the application for insurance that are believed to be true to the best of the 
applicant's knowledge are called representations 
A...
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