Primerica Life Insurance Exam | 2023/ 2024 (Questions and 100% Verified Answers)

Primerica Life Insurance Exam | 2023/ 2024 (Questions and 100% Verified Answers) 1. The frequency and the amount of the premium payment are known as what? Answer: Premium mode 2. What type of insurer uses a formal sharing agreement Answer: Reciprocal Insurers 3. According to the California Insurance Code any person legally capable of making an insurance policy is considered Answer: An insurer 4. Which of the following losses would likely be covered under the Accidental Death rider Answer: Death caused by a head-on collision 5. All of the following are advantages of a qualified retirement plan EXCEPT Answer: The income at retirement is tax free 6. A life settlement broker Answer: Negotiates life settlement contracts between an owner and providers 7. A jumping Juvenile Policy is unique in that the death benefit automatically Answer: Increases as a predetermined age 8. What type of insurance would a person select as the most efficient method of paying the outstanding debt on their home in the event of death Answer: Mortgage redemption 9. All of the following information needs to be included on an application for life insurance EXCEPT Answer: Health insurance policies in force 10. Which of the following is an example of a physical hazard? Answer: Diabetes 11. If an annuity has a guaranteed minimum interest rate, this means Answer: The interest rate will never drop below the guaranteed minimum 12. According to the life insurance replacement regulations, which of the following would be an example of policy replacement Answer: A policy is reissued with a reduction in cash value 13. The family term rider incorporates Answer: Spouse term and children's term 14. When comparing a Joint Life Policy to two individual life policies of the same amount on the same insureds which condition is true Answer: Joint life has a lower premium that the total of the two individual policies 15. A dentist is off work for 4 months due to a disability. His dental assistants salary would be covered by Answer: Business Overhead Insurance 16. When an agent delivered an insurance policy to the insured, he collected the initial premium, as well as a document verifying that the insured had not had any injuries or illness since the application date. What is this document called? Answer: Statement of Good Health 17. Which of the following entities conducts a post-selection process? Answer: Underwriters