Primerica Practice test part 1 (Latest Update);
Questions and Answers(A+)
An insured under a life insurance policy has been diagnosed with a terminal
illness and has 6
months to live. The insured knows that his financial state will worsen even more
with the
upcoming medical expenses. What option could the insured utilize?
a) Estate liquidation
b) Nonpayment of premium
c) Change of beneficiary
d) Viatical settlement ✔✔d
Which of the following best describes fixed-period settlement option?
a) Only the principal amount will be paid out within a specified period of time.
b) The death benefit must be paid out in a lump sum within a certain time
period.
c) Income is guaranteed for the life of the beneficiary.
d) Both the principal and interest will be liquidated over a selected period of
time. ✔✔d
, Primerica Practice test part 1 (Latest Update);
Questions and Answers(A+)
Which of the following is a generic consumer publication that explains life
insurance in general
terms in order to assist the applicant in the decision-making process?
a) Insurance Index
b) Policy Summary
c) Illustrations
d) Buyer's Guide ✔✔d
Which of the following is called a "second-to-die" policy?
a) Juvenile life
b) Joint life
c) Survivorship life
d) Family income ✔✔c
Which of the following best describes annually renewable term insurance?
a) Neither the premium nor the death benefit is affected by the insured's age.
b) It provides an annually increasing death benefit.
Questions and Answers(A+)
An insured under a life insurance policy has been diagnosed with a terminal
illness and has 6
months to live. The insured knows that his financial state will worsen even more
with the
upcoming medical expenses. What option could the insured utilize?
a) Estate liquidation
b) Nonpayment of premium
c) Change of beneficiary
d) Viatical settlement ✔✔d
Which of the following best describes fixed-period settlement option?
a) Only the principal amount will be paid out within a specified period of time.
b) The death benefit must be paid out in a lump sum within a certain time
period.
c) Income is guaranteed for the life of the beneficiary.
d) Both the principal and interest will be liquidated over a selected period of
time. ✔✔d
, Primerica Practice test part 1 (Latest Update);
Questions and Answers(A+)
Which of the following is a generic consumer publication that explains life
insurance in general
terms in order to assist the applicant in the decision-making process?
a) Insurance Index
b) Policy Summary
c) Illustrations
d) Buyer's Guide ✔✔d
Which of the following is called a "second-to-die" policy?
a) Juvenile life
b) Joint life
c) Survivorship life
d) Family income ✔✔c
Which of the following best describes annually renewable term insurance?
a) Neither the premium nor the death benefit is affected by the insured's age.
b) It provides an annually increasing death benefit.
