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Primerica life insurance state Exam Questions
With Correct Answers 100% Verified.
Deferred Annuity - Answer✔An annuity in which the income payments begin sometime after
one year from the date of purchase.deferred annuities can be funded with a single lump sum
payment so it is referred to as a single premium differed annuities.
Human life values approach - Answer✔Calculates an individual's life value by looking at the
insureds future wages,inflation,the number of years to retirement,and the time value of
money.
What time must the producer present the applicant with a notice regarding replacement of life
insurance - Answer✔Producers must present to the applicant a notice regarding replacement
that is signed by both the applicant and the producer. A copy must be left with the applicant.
Risk - Answer✔Is the uncertainty or chance of a loss occurring.
MIB (medical information bureau - Answer✔MIB is a non profit trade organization which
receives adverse medical information from insurance companies and maintains confidential
medical impairment information on individuals
Perjury - Answer✔If a person signs a fraudulent claim form,that person may be found guilty
Universal life - Answer✔policy has two components: an insurance component and a cash
account. The insurance component of a universal life policy is always annually renewable term
insurance .
The right to a full refund of premiums for insureds age 60 or older - Answer✔The right of
recission for a full refund must last for at least 30 days
The premium modes - Answer✔Is the frequency of premium payment.
Concealment - Answer✔Is the withholding of information by the applicant that will result in an
imprecise underwriting decision. may void the policy
1
Primerica life insurance state Exam Questions
With Correct Answers 100% Verified.
Deferred Annuity - Answer✔An annuity in which the income payments begin sometime after
one year from the date of purchase.deferred annuities can be funded with a single lump sum
payment so it is referred to as a single premium differed annuities.
Human life values approach - Answer✔Calculates an individual's life value by looking at the
insureds future wages,inflation,the number of years to retirement,and the time value of
money.
What time must the producer present the applicant with a notice regarding replacement of life
insurance - Answer✔Producers must present to the applicant a notice regarding replacement
that is signed by both the applicant and the producer. A copy must be left with the applicant.
Risk - Answer✔Is the uncertainty or chance of a loss occurring.
MIB (medical information bureau - Answer✔MIB is a non profit trade organization which
receives adverse medical information from insurance companies and maintains confidential
medical impairment information on individuals
Perjury - Answer✔If a person signs a fraudulent claim form,that person may be found guilty
Universal life - Answer✔policy has two components: an insurance component and a cash
account. The insurance component of a universal life policy is always annually renewable term
insurance .
The right to a full refund of premiums for insureds age 60 or older - Answer✔The right of
recission for a full refund must last for at least 30 days
The premium modes - Answer✔Is the frequency of premium payment.
Concealment - Answer✔Is the withholding of information by the applicant that will result in an
imprecise underwriting decision. may void the policy
1
