Primerica Life Exam Simulator
Questions and Verified Answers
1. Harry has just received his life insurance policy. In reviewing the title page,
Harry was able to ascertain the following information EXCEPT
A. His spouse had been assigned the primary beneficiary
B. His children have been covered by a child rider
C. He had purchased a 20-year renewable term insurance policy in the face
amount of $150,000
D. His total annual premium CORRECT ANSWER>> A. His spouse had been assigned the primary
beneficiary
2. Which of the following settlement options in life insurance is known as
straight life?
A. Life with period certian
B. Fixed amount
C. Life income
D. Single life CORRECT ANSWER>> C. Life income
3. Under a 20-pay whole life policy, in order for the policy to pay the death
benefit to a beneficiary, the premiums must be paid
A. Until the policyowner's age 100, when the policy matures
B. For 20 years or until death, whichever occurs first
C. Until the policyowner reaches age 65
D. For at least 20 years CORRECT ANSWER>> B. For 20 years or until death, whichever comes
first
4. What method is used to determine the taxable portion of each annuity pay
ment?
, A. The excise ratio
B. The annuity to age ratio
C. The marginal tax formula
D., The exclusion ratio CORRECT ANSWER>> D. The exclusion ratio
5. Group life insurance is a single policy written to provide coverage to members
of a group. Which of the following statements concerning group life is COR
RECT?
1/6
Primerica Life Exam Simulator
Study online at https CORRECT ANSWER>>//quizlet.com/_dj6r6n
A. Premiums are determined by age, occupation, and individual underwriting
B. 100% participation of members is required in noncontributory plans
C. Each member covered receives a policy
D. Coverage cannot be converted when an individual leave the group CORRECT ANSWER>> B.
100%
Participation of members is required in noncontributory plans
6. How many hours of continuing education must agents complete each licens
ing term?
A. 12
B. 15
C. 24
D. 30 CORRECT ANSWER>> C. 24
7. An insurance contract requires that both the insured and the insurer meet
certain conditions in order for the contracts to be enforceable. What contract
characteristic does this describe?
A. Contingent
Questions and Verified Answers
1. Harry has just received his life insurance policy. In reviewing the title page,
Harry was able to ascertain the following information EXCEPT
A. His spouse had been assigned the primary beneficiary
B. His children have been covered by a child rider
C. He had purchased a 20-year renewable term insurance policy in the face
amount of $150,000
D. His total annual premium CORRECT ANSWER>> A. His spouse had been assigned the primary
beneficiary
2. Which of the following settlement options in life insurance is known as
straight life?
A. Life with period certian
B. Fixed amount
C. Life income
D. Single life CORRECT ANSWER>> C. Life income
3. Under a 20-pay whole life policy, in order for the policy to pay the death
benefit to a beneficiary, the premiums must be paid
A. Until the policyowner's age 100, when the policy matures
B. For 20 years or until death, whichever occurs first
C. Until the policyowner reaches age 65
D. For at least 20 years CORRECT ANSWER>> B. For 20 years or until death, whichever comes
first
4. What method is used to determine the taxable portion of each annuity pay
ment?
, A. The excise ratio
B. The annuity to age ratio
C. The marginal tax formula
D., The exclusion ratio CORRECT ANSWER>> D. The exclusion ratio
5. Group life insurance is a single policy written to provide coverage to members
of a group. Which of the following statements concerning group life is COR
RECT?
1/6
Primerica Life Exam Simulator
Study online at https CORRECT ANSWER>>//quizlet.com/_dj6r6n
A. Premiums are determined by age, occupation, and individual underwriting
B. 100% participation of members is required in noncontributory plans
C. Each member covered receives a policy
D. Coverage cannot be converted when an individual leave the group CORRECT ANSWER>> B.
100%
Participation of members is required in noncontributory plans
6. How many hours of continuing education must agents complete each licens
ing term?
A. 12
B. 15
C. 24
D. 30 CORRECT ANSWER>> C. 24
7. An insurance contract requires that both the insured and the insurer meet
certain conditions in order for the contracts to be enforceable. What contract
characteristic does this describe?
A. Contingent
