Primerica Practice Test Questions And Answers

Primerica Practice Test Questions And Answers The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - ANS conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - ANS representations An annuity is considered fixed when it does all of the following EXCEPT - ANS 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 - ANS continuous premium (straight) life The policy and a copy of the application, along with any riders and amendments, is called the - ANS entire contract Money borrowed from the policy's cash value is - ANS not taxable Which of the following annuity products requires an agent to hold a securities license? - ANS variable annuities Which type of annuity settlement stops when the annuitant dies? - ANS life income annuity At what age can a participant receive distributions from a qualified plan without incurring a 10% penalty? - ANS 59.5 Which settlement option guarantees an income for 2 or more recipients for as long as they live - ANS joint and survivor Two business partners own life insurance on each other. If one partner dies, which of the following contracts will allow the surviving partner to use the death benefit to purchase the deceased's business interests? - ANS buy-sell agreement Which of the following would be considered a flexible premium policy? - ANS universal life If an annuitant dies during the accumulation period, what will the beneficiary receive? - ANS either the cash value or the premiums paid, which