PRIMERICA LIFE AND INSURANCE EXAM 2024 |
ACCURATE CURRENTLY TESTING VERSION WITH
A STUDY GUIDE AND KNOWLEDGE FLASHCARDS |
ACCURATE AND VERIFIED FOR GUARANTEED PASS
| LATEST UPDATE
The yauthority ygranted yto yan yagent ythrough ythe yagent's ycontract yis yreferred yto yas
a. Absolute yauthority
b. Express yauthority
c. Apparent yauthority
d. Implied yauthority
B. yExpress yauthority
express ypowers yare ywritten yinto ythe ycontract ybetween ythe yinsurer yand ythe yagent
Insurance ypolicies yare ynot ydrawn yup ythough ynegotiations, yand yan yinsured yhas ylittle yto
ysay yabout yits yprovisions. yWhat ycontract ycharacteristic ydoes ythis ydescribe?
A. yUnilateral
b. Conditional
c. Personal
d. Adhesion
D. yAdhesion
a ycontract yof yadhesion yis yprepared yby yonly ythe yinsurer; ythe yinsured's yonly yoption
yis yto yaccept yor yreject ythe ypolicy yas yits ywritten
Which yof ythe yfollowing yinsurers yare yowned yby ystockholders ywho yhave ythe yusual
yrights yof yownership, yincluding ythe yright yof yvoting?
A. yReciprocal
b. Fraternal
c. Stock
d. Mutual
C. yStock
only ystock yinsurance ycompanies yare yowned yand ycontrolled yby ystockholders
Which yof ythe yfollowing ybest ydescribes ythe yconcept ythat ythe yinsured ypays ya ysmall
yamount yof
,premium yfor ya ylarge yamount yof yrisk yon ythe ypart yof ythe yinsurance ycompany?
A. ySubrogation
,b. Warranty
c. Aleatory
d. Adhesion
C. yAleatory
an yinsurance ycontract yis yan yaleatory ycontract yin ythat yit yrequires ya yrelatively ysmall
yamount yof ypremium yfor ya ylarge yrisk
When yan yinsured ymakes ytruthful ystatements yon ythe yapplication yfor yinsurance yand
ypays ythe yrequired ypremium, yit yis yknown yas ywhich yof ythe yfollowing?
A. yLegal ypurpose
b. Contract yof yadhesion
c. Acceptance
d. Consideration
D. yConsideration
consideration yis ysomething yof yvalue ythat yeach yparty ygives yto ythe yother. yThe
yconsideration yon ythe ypart yof ythe yinsured yis ythe ypayment yof ypremium yand ythe
yrepresentations ymade yin ythe yapplication
Which yof ythe yfollowing ywould yqualify yas ya ycompetent yparty yin yan yinsurance ycontract?
A. yThe yapplicant yis yintoxicated yat ythe ytime yof yapplication
b. The yapplicant yis y12 yyear yold ystudent
c. The yapplicant yis yunder ythe yinfluence yof ya ymind-impairing ymedication yat ythe ytime yof
yapplication
d. The yapplicant yhas ya yprior yfelony yconviction
D. yThe yapplicant yhas ya yprior yfelony yconviction
when yan yinsurer yand yinsured yenter yinto ya ycontract, yboth yparties ymust ybe ylegal yof
yage yand ymentally ycompetent. yIt yis ylegal yfor ya yperson yconvicted yof ya yfelony yto
ybuy yan yinsurance ycontract. yAn yintoxicated yperson, yhowever, ymay ynot ybe ymentally
ycompetent, ya y12 yyear yold ystudent yis yconsidered yto ybe yunderage yin ymost ystates
yand ya yperson yunder ymind-impairing ymedication ymost ylikely ywould ynot ybe ymentally
ycompetent
An yinsurer yneglects yto ypay ya ylegitimate yclaim ythat yis ycovered yunder ythe yterms yof
ythe ypolicy. yWhich yof ythe yfollowing yinsurance yprinciples yhas ythe yinsurer yviolated?
A. yRepresentation
b. Adhesion
c. Consideration
d. Good yhealth
, C. yConsideration
the ybinding yforce yin yany ycontract yis yconsideration. yConsideration yon ythe ypart yof
ythe yinsureds ythe ypayment yof ypremiums yand ythe yhealth yrepresentations ymade yin
ythe yapplication. yConsideration yon ythe ypart yof ythe yinsurer yis ythe ypromise yto ypay
yin ythe yeven yof yloss
Which yof ythe yfollowing yis ya yprimary ysource yof yinformation yused yfor yinsurance
yunderwriting?
A. yApplication
b. yApplicant yinterviews
c. yMedical yrecords.
D. yPrivate yinvestigations
A. yApplication
the yapplication ycontains ymost yof ythe yinformation yused yfor yunderwriting ypurposes.
yThis yis ywhy yits ycompleteness yand yaccurarcy yare yso ycritical
An yinsured ypurchased yan yinsurance ypolicy y5 yyears yago. yLast yyear, yshe yreceived ya
ydividend ycheck yfrom ythe yinsurance ycompany ythat ywas ynot ytaxable. yThis yyear, yshe
ydid ynot yreceive ya ycheck yfrom ythe yinsurer. yFrom ywhat ytype yof yinsurer ydid ythe
yinsured ypurchase ythe ypolicy?
A. yMutual
b. Reciprocal
c. Nonprofit yservice yorganization
d. Stock
A. yMutual
funds ynot ypaid yout yafter ypaying yclaims yand yother yoperating ycosts yare yreturned yto
ythe ypolicy yowners yin ythe yform yof ya ydividend. yIf yall yfunds yare ypaid yout, yno
ydividends yare ypaid
Following ya ycareer ychange, yan yinsured yis yno ylonger yrequired yto yperform ymany
yphysical yactivities, yso yhe yhas yimplemented ya yprogram ywhere yhe ywalks yand yjogs
yfor y45 yminutes yeach ymorning. yThe yinsured yhas yalso yeliminated ymost yfatty yfoods
yfrom yhis ydiet. yWhich ymethod yof ydealing ywith yrisk ydoes ythis yscenario ydescribe?
A. yRetention
b. Reduction
c. Transfer
d. Avoidance
ACCURATE CURRENTLY TESTING VERSION WITH
A STUDY GUIDE AND KNOWLEDGE FLASHCARDS |
ACCURATE AND VERIFIED FOR GUARANTEED PASS
| LATEST UPDATE
The yauthority ygranted yto yan yagent ythrough ythe yagent's ycontract yis yreferred yto yas
a. Absolute yauthority
b. Express yauthority
c. Apparent yauthority
d. Implied yauthority
B. yExpress yauthority
express ypowers yare ywritten yinto ythe ycontract ybetween ythe yinsurer yand ythe yagent
Insurance ypolicies yare ynot ydrawn yup ythough ynegotiations, yand yan yinsured yhas ylittle yto
ysay yabout yits yprovisions. yWhat ycontract ycharacteristic ydoes ythis ydescribe?
A. yUnilateral
b. Conditional
c. Personal
d. Adhesion
D. yAdhesion
a ycontract yof yadhesion yis yprepared yby yonly ythe yinsurer; ythe yinsured's yonly yoption
yis yto yaccept yor yreject ythe ypolicy yas yits ywritten
Which yof ythe yfollowing yinsurers yare yowned yby ystockholders ywho yhave ythe yusual
yrights yof yownership, yincluding ythe yright yof yvoting?
A. yReciprocal
b. Fraternal
c. Stock
d. Mutual
C. yStock
only ystock yinsurance ycompanies yare yowned yand ycontrolled yby ystockholders
Which yof ythe yfollowing ybest ydescribes ythe yconcept ythat ythe yinsured ypays ya ysmall
yamount yof
,premium yfor ya ylarge yamount yof yrisk yon ythe ypart yof ythe yinsurance ycompany?
A. ySubrogation
,b. Warranty
c. Aleatory
d. Adhesion
C. yAleatory
an yinsurance ycontract yis yan yaleatory ycontract yin ythat yit yrequires ya yrelatively ysmall
yamount yof ypremium yfor ya ylarge yrisk
When yan yinsured ymakes ytruthful ystatements yon ythe yapplication yfor yinsurance yand
ypays ythe yrequired ypremium, yit yis yknown yas ywhich yof ythe yfollowing?
A. yLegal ypurpose
b. Contract yof yadhesion
c. Acceptance
d. Consideration
D. yConsideration
consideration yis ysomething yof yvalue ythat yeach yparty ygives yto ythe yother. yThe
yconsideration yon ythe ypart yof ythe yinsured yis ythe ypayment yof ypremium yand ythe
yrepresentations ymade yin ythe yapplication
Which yof ythe yfollowing ywould yqualify yas ya ycompetent yparty yin yan yinsurance ycontract?
A. yThe yapplicant yis yintoxicated yat ythe ytime yof yapplication
b. The yapplicant yis y12 yyear yold ystudent
c. The yapplicant yis yunder ythe yinfluence yof ya ymind-impairing ymedication yat ythe ytime yof
yapplication
d. The yapplicant yhas ya yprior yfelony yconviction
D. yThe yapplicant yhas ya yprior yfelony yconviction
when yan yinsurer yand yinsured yenter yinto ya ycontract, yboth yparties ymust ybe ylegal yof
yage yand ymentally ycompetent. yIt yis ylegal yfor ya yperson yconvicted yof ya yfelony yto
ybuy yan yinsurance ycontract. yAn yintoxicated yperson, yhowever, ymay ynot ybe ymentally
ycompetent, ya y12 yyear yold ystudent yis yconsidered yto ybe yunderage yin ymost ystates
yand ya yperson yunder ymind-impairing ymedication ymost ylikely ywould ynot ybe ymentally
ycompetent
An yinsurer yneglects yto ypay ya ylegitimate yclaim ythat yis ycovered yunder ythe yterms yof
ythe ypolicy. yWhich yof ythe yfollowing yinsurance yprinciples yhas ythe yinsurer yviolated?
A. yRepresentation
b. Adhesion
c. Consideration
d. Good yhealth
, C. yConsideration
the ybinding yforce yin yany ycontract yis yconsideration. yConsideration yon ythe ypart yof
ythe yinsureds ythe ypayment yof ypremiums yand ythe yhealth yrepresentations ymade yin
ythe yapplication. yConsideration yon ythe ypart yof ythe yinsurer yis ythe ypromise yto ypay
yin ythe yeven yof yloss
Which yof ythe yfollowing yis ya yprimary ysource yof yinformation yused yfor yinsurance
yunderwriting?
A. yApplication
b. yApplicant yinterviews
c. yMedical yrecords.
D. yPrivate yinvestigations
A. yApplication
the yapplication ycontains ymost yof ythe yinformation yused yfor yunderwriting ypurposes.
yThis yis ywhy yits ycompleteness yand yaccurarcy yare yso ycritical
An yinsured ypurchased yan yinsurance ypolicy y5 yyears yago. yLast yyear, yshe yreceived ya
ydividend ycheck yfrom ythe yinsurance ycompany ythat ywas ynot ytaxable. yThis yyear, yshe
ydid ynot yreceive ya ycheck yfrom ythe yinsurer. yFrom ywhat ytype yof yinsurer ydid ythe
yinsured ypurchase ythe ypolicy?
A. yMutual
b. Reciprocal
c. Nonprofit yservice yorganization
d. Stock
A. yMutual
funds ynot ypaid yout yafter ypaying yclaims yand yother yoperating ycosts yare yreturned yto
ythe ypolicy yowners yin ythe yform yof ya ydividend. yIf yall yfunds yare ypaid yout, yno
ydividends yare ypaid
Following ya ycareer ychange, yan yinsured yis yno ylonger yrequired yto yperform ymany
yphysical yactivities, yso yhe yhas yimplemented ya yprogram ywhere yhe ywalks yand yjogs
yfor y45 yminutes yeach ymorning. yThe yinsured yhas yalso yeliminated ymost yfatty yfoods
yfrom yhis ydiet. yWhich ymethod yof ydealing ywith yrisk ydoes ythis yscenario ydescribe?
A. yRetention
b. Reduction
c. Transfer
d. Avoidance
