Primerica life insurance state exam (Latest
Update); Questions and Answers(A+)
Deferred Annuity ✔✔An annuity in which the income payments begin sometime
after one year
from the date of purchase.deferred 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 looking at
the insureds
future wages,inflation,the number of years to retirement,and the time value of
money.
What time must the producer present the applicant with a notice regarding
replacement of life
insurance ✔✔Producers must present to the applicant a notice regarding
replacement that is
signed by both the applicant and the producer. A copy must be left with the
applicant.
Risk ✔✔Is the uncertainty or chance of a loss occurring.
, Primerica life insurance state exam (Latest
Update); Questions and Answers(A+)
MIB (medical information bureau ✔✔MIB is a non profit trade organization
which receives
adverse medical information from insurance companies and maintains
confidential medical
impairment information on individuals
Perjury ✔✔If a person signs a fraudulent claim form,that person may be found
guilty
Universal life ✔✔policy has two components: an insurance component and a
cash account. The
insurance component of a universal life policy is always annually renewable
term insurance .
The right to a full refund of premiums for insureds age 60 or older ✔✔The right
of recission for
a full refund must last for at least 30 days
The premium modes ✔✔Is the frequency of premium payment.
Update); Questions and Answers(A+)
Deferred Annuity ✔✔An annuity in which the income payments begin sometime
after one year
from the date of purchase.deferred 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 looking at
the insureds
future wages,inflation,the number of years to retirement,and the time value of
money.
What time must the producer present the applicant with a notice regarding
replacement of life
insurance ✔✔Producers must present to the applicant a notice regarding
replacement that is
signed by both the applicant and the producer. A copy must be left with the
applicant.
Risk ✔✔Is the uncertainty or chance of a loss occurring.
, Primerica life insurance state exam (Latest
Update); Questions and Answers(A+)
MIB (medical information bureau ✔✔MIB is a non profit trade organization
which receives
adverse medical information from insurance companies and maintains
confidential medical
impairment information on individuals
Perjury ✔✔If a person signs a fraudulent claim form,that person may be found
guilty
Universal life ✔✔policy has two components: an insurance component and a
cash account. The
insurance component of a universal life policy is always annually renewable
term insurance .
The right to a full refund of premiums for insureds age 60 or older ✔✔The right
of recission for
a full refund must last for at least 30 days
The premium modes ✔✔Is the frequency of premium payment.
