Primerica 2023 Exam Questions With Complete Solution

Primerica 2023 Exam Questions With Complete Solution The type of policy that can be changed from one that does not accumulate cash value to the one that does is a - CORRECT ANSWERS convertible term policy The policy owner wants to make sure that upon his death, the life policy will pay a portion of the proceeds annually to his spouse, but that the principal will be paid to their children when they reach a certain age. What settlement option should the policy owner choose? - CORRECT ANSWERS Interest only option All of the following are true regarding the guaranteed insurability ride EXCEPT - CORRECT ANSWERS this ridder is available to all insureds with no additional premium which of the following is not typically excluded from life policies? - CORRECT ANSWERS Death due to plane crash for a fare-paying passenger An applicant signs an application for a $25,000 life insurance policy, pays the initial premium, and receives a conditional receipt. If the applicant is killed in an automobile accident the next day, which of the following is true? - CORRECT ANSWERS The beneficiary will receive the full death benefit if it is determined that the applicant qualified for the policy Which of the following would be the basic source of information used by the company in the risk selection process? - CORRECT ANSWERS Application Under SIMPLE plans, participating employees may defer up to a specified amount each year, and the employer then makes a matching contribution up to an amount equal to what percent of the employee's annual wages? - CORRECT ANSWERS 3 a man decides to purchase a $100,000 annually renewable term insurance life policy to provide additional protection until his children finished college, he discovered that this policy - CORRECT ANSWERS required a premium increase each renewal Upon policy delivery, the producer may be required to obtain any of the following except? - CORRECT ANSWERS Signed waiver of premium Representations are written or oral statements made by the applicant which - CORRECT ANSWERS Considered true to the best of the applicants knowledge At the time the insured purchased her life insurance policy, she added a rider that will allow her to purchase additional insurance in the future without having to prove insurability. This rider is called - CORRECT ANSWERS Guaranteed insurability An insured purchased a life policy in 2010 and died in 2017. The insurance company discovers at that time that the insured had concealed information during the application process. What can they do? - CORRECT ANSWERS Pay the death benefit what is the name of the insured who enters into a viatical settlement? - CORRECT ANSWERS Viator an insured committed suicide one year after his life insurance policy issued - CORRECT ANSWERS refund the premiums paid All of the following are true regarding the convertibility option under a term life insurance policy EXCEPT - CORRECT ANSWERS upon conversion, the death benefit of the permanent policy will be reduced by 50%