Primerica Practice Life Exam Questions
and Answers
Upon policy delivery, the producer may be required to obtain any of the following
EXCEPT - correct answer-Signed waiver of premium.
When the breadwinner that is insured by a Family Policy dies, what rights are provided
to other family members that are covered under the policy? - correct answer-They can
convert their coverage to permanent life insurance without evidence of insurabilityWhat
is the minimum free-look period for newly issued life insurance policies in this state? -
correct answer-10 days
All of the following entities regulate variable life policies EXCEPT - correct answer-The
Guaranty Association.
What is the main purpose of the Seven-pay Test? - correct answer-It determines if the
insurance policy is a MEC.
A tornado that destroys property would be an example of which of the following? -
correct answer-A peril
The paid-up addition option uses the dividend - correct answer-To purchase a smaller
amount of the same type of insurance as the original policy.
A Return of Premium term life policy is written as what type of term coverage? - correct
answer-Increasing
For a retirement plan to be qualified, it must be designed for the benefit of - correct
answer-Employees.
Any insurance agent who engages in the insurance business and violates the Code with
respect to insurance replacement shall on the first violation - correct answer-Be fined a
sum of $1,000.
An insured committed suicide one year after his life insurance policy was issued. The
insurer will - correct answer-Refund the premiums paid.
According to California Insurance Code, which of the following can be classified as an
insurable event? - correct answer-Pure risks
All of the following are examples of risk retention EXCEPT - correct answer-Premiums.
and Answers
Upon policy delivery, the producer may be required to obtain any of the following
EXCEPT - correct answer-Signed waiver of premium.
When the breadwinner that is insured by a Family Policy dies, what rights are provided
to other family members that are covered under the policy? - correct answer-They can
convert their coverage to permanent life insurance without evidence of insurabilityWhat
is the minimum free-look period for newly issued life insurance policies in this state? -
correct answer-10 days
All of the following entities regulate variable life policies EXCEPT - correct answer-The
Guaranty Association.
What is the main purpose of the Seven-pay Test? - correct answer-It determines if the
insurance policy is a MEC.
A tornado that destroys property would be an example of which of the following? -
correct answer-A peril
The paid-up addition option uses the dividend - correct answer-To purchase a smaller
amount of the same type of insurance as the original policy.
A Return of Premium term life policy is written as what type of term coverage? - correct
answer-Increasing
For a retirement plan to be qualified, it must be designed for the benefit of - correct
answer-Employees.
Any insurance agent who engages in the insurance business and violates the Code with
respect to insurance replacement shall on the first violation - correct answer-Be fined a
sum of $1,000.
An insured committed suicide one year after his life insurance policy was issued. The
insurer will - correct answer-Refund the premiums paid.
According to California Insurance Code, which of the following can be classified as an
insurable event? - correct answer-Pure risks
All of the following are examples of risk retention EXCEPT - correct answer-Premiums.
