Primerica Practice Test questions with correct answers

The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) CORRECT ANSWER conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called CORRECT ANSWER representations An annuity is considered fixed when it does all of the following EXCEPT CORRECT ANSWER provides the annuitant with an interest rate that is the lesser of the guaranteed or current rate The most common type of whole life insurance where premiums are payable over the whole life of the insured to age 100 is called CORRECT ANSWER continuous premium (straight) life The policy and a copy of the application, along with any riders and amendments, is called the CORRECT ANSWER entire contract Money borrowed from the policy's cash value is CORRECT ANSWER not taxable Which of the following annuity products requires an agent to hold a securities license? CORRECT ANSWER variable annuities Which type of annuity settlement stops when the annuitant dies? CORRECT ANSWER life income annuity At what age can a participant receive distributions from a qualified plan without incurring a 10% penalty? CORRECT ANSWER 59.5