PRIMERICA LIFE INSURANCE EXAM ACCURATE EXAM QUESTIONS AND ANSWERS.

PRIMERICA LIFE INSURANCE EXAM ACCURATE EXAM QUESTIONS AND ANSWERS. a 10% penalty must be paid on withdrawals made from a qualified plan before age a. 40 b. 70 1/2 c. 59 1/2 d. 65 - ANSWER-C. 59 1/2 .A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor Benefit rider. If the father becomes disabled, what will happen to the life insurance premiums? a. the insured will have to pay premiums for 6 months. If at the end of this period the father is still disabled, the insured will be refunded the premiums b. the insureds premiums will be waived until she is 21 c. the premiums will become tax deductible until the insureds 18th birthday d. since it is the policyowner, and not the insured, who has become disabled, the life insurance policy will not be affected - ANSWER-B. the insureds premiums will be waived until she is 21 .a long stretch of national economic hardship causes a 7% rate of inflation. A policyowner notices that the face value of her life insurance policy has be raised 7% as a result. Which policy rider caused this change? a. inflation rider b. cost of living rider c. value of adjustment rider d. return of premium rider - ANSWER-B. cost of living rider the cost of living rider annually adjusts the policy's face vale in accordance with the national rate of inflation or deflation. This rider adjusts the face amount of the policy to correspond with the rate of inflation, in order to keep the initial value of the policy constant over time .a Louisiana insurance company ran and advertisement in June 2008. When could the company discard the file on this document? a. June 2013 b. June 2012 c. June 2011 d. June 2009 - ANSWER-B. June 2012 in Louisiana, insurance companies are required to keep files of all advertisements used for 4 years, or until he next examination by the Department .A man decided to purchase a $100,000 Annually Renewable Term Life policy to provide additional protection until his children finished college. He discovered that his policy a. required a premium increase each renewal b. built cash value c. required proof of insurability ever year d. decreased death benefit each renewal - ANSWER-A. required a premium increase each renewal annually renewable term policies premiums are adjusted each year to the insured's attained age, however, the policy may be guaranteed renewable. Death benefits remain level, and switch any term policy, there are no cash values .a participating insurance policy may do which of the following? a. require 80% participation b. pay dividends to the policyowner c. provide group coverage d. pay dividends to the stockholder - ANSWER-B. pay dividends to the policyowner .a policy that insures 2 or more lives and pays on the death of the last insured is a. joint life b. group life c. survivorship life d. family protection ife - ANSWER-C. survivorship life .a producer agent must do all of the following when delivering a new policy to the insured EXCEPT a. disclose commissions earned from the sale of the policy b. explain the policy provisions, riders, and exclusions c. collect any premium due d. explain the rating procedures if the policy is rated differently than applied for - ANSWER-A. disclose commissions earned fro the sale of the policy a producer must explain policy provisions, exclusions, and riders at the time of the delivery, as well as the rating procedures especially if the policy is rated