Primerica Practice Exam Test A Revised Questions and Answers / 2024

1. An annuity that is purchased with a lump sum premium and whose benefits begin after 12 months is called a: A. Single premium immediate annuity. B. Single premium deferred annuity. C. Level premium variable annuity. D. Flexible premium fixed annuity. - Single premium deferred annuity 2. A technique used to determine the amount of life insurance needed by focusing on the projected earning potential of an insured is called the: A. Needs approach. B. Future income option. C. Human life value approach. D. Life income approach. - Human life value approach 3. When replacing a policy the producer must present the applicant with a Notice Regarding Replacement of Life Insurance: A. At the policy delivery date. B. 7 days after the initial meeting. C. On the date the underwriter approves the policy. D. At the time of taking the application. - At the time of taking the application