PRIMERICA LIFE INSURANCE
STATE EXAM
1. Deferred AnnuityAnswer 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 dittered annuities.
2. Human life values approach
Answer 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.
3. What time must the producer present the applicant with a notice regarding
replacement of life insurance
Answer 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.
4. Risk
Answer Is the uncertainty or chance of a loss occurring.
5. MIB (medical information bureauAnswer MIB is a non profit trade organization which receives
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, adverse medical information from insurance companies and maintains confidential medical impairment
information on indi- viduals
6. Perjury
Answer If a person signs a fraudulent claim form,that person may be found guilty
7. Universal life
policy has two components
Answer an insurance component and a cash account. The insurance component of a universal life policy is
always annually renewable term insurance .
8. The right to a full refund of premiums for insureds age 60 or older
Answer The right of recission for a full refund must last for at least 30 days
9. The premium modes
Answer Is the frequency of premium payment.
10. Concealment
Answer Is the withholding of information by the applicant that will result in an imprecise underwriting decision.
may void the policy
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STATE EXAM
1. Deferred AnnuityAnswer 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 dittered annuities.
2. Human life values approach
Answer 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.
3. What time must the producer present the applicant with a notice regarding
replacement of life insurance
Answer 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.
4. Risk
Answer Is the uncertainty or chance of a loss occurring.
5. MIB (medical information bureauAnswer MIB is a non profit trade organization which receives
1/5
, adverse medical information from insurance companies and maintains confidential medical impairment
information on indi- viduals
6. Perjury
Answer If a person signs a fraudulent claim form,that person may be found guilty
7. Universal life
policy has two components
Answer an insurance component and a cash account. The insurance component of a universal life policy is
always annually renewable term insurance .
8. The right to a full refund of premiums for insureds age 60 or older
Answer The right of recission for a full refund must last for at least 30 days
9. The premium modes
Answer Is the frequency of premium payment.
10. Concealment
Answer Is the withholding of information by the applicant that will result in an imprecise underwriting decision.
may void the policy
2/5
