Primerica Life Insurance Basic Exam |VERIFIED| 2024/2025

Primerica Life Insurance Basic Exam |VERIFIED| 2024/2025 2 Signing and dating a delivery receipt for a life insurance policy helps to establish all of the following timeframes EXCEPT *Ans* The Grace Period. Joe, Larry, and Curly own a small business. They have made a legal arrangement which states that if one of them dies or becomes disabled, the other two will be able to buy the partner's shares. Which term best describes this arrangement? *Ans* Business Continuation The responsibility of making certain that an application for insurance is filled out completely, correctly, and to the best of his or her knowledge is the responsibility of whom? *Ans* the producer (agent) What is the purpose of the buyer's guide? *Ans* To allow the consumer to compare the costs of different policies Which of the following would NOT fall into the category of costs associated with death? *Ans* The expense of a vacation for surviving family members Which is generally true regarding insureds who have been classified as preferred risks? *Ans* Their premiums are lower