PRIMERICA LIFE AND INSURANCE EXAM 2025 |
ACCURATE CURRENTLY TESTING VERSION WITH A STUDY
GUIDE AND KNOWLEDGE FLASHCARDS | ACCURATE
AND VERIFIED FOR GUARANTEED PASS | LATEST UPDATE
An Insured Purchased An Insurance Policy 5 Years Ago. Last Year, She Received A Dividend Check
From The Insurance Company That Was Not Taxable. This Year, She Did Not Receive A Check
From The Insurer. From What Type Of Insurer Did The Insured Purchase The Policy?
A. Mutual
B. Reciprocal
C. Nonprofit Service Organization
D. Stock
A. Mutual
Funds Not Paid Out After Paying Claims And Other Operating Costs Are Returned To The Policy
Owners In The Form Of A Dividend. If All Funds Are Paid Out, No Dividends Are Paid
Following A Career Change, An Insured Is No Longer Required To Perform Many Physical
Activities, So He Has Implemented A Program Where He Walks And Jogs For 45 Minutes Each
Morning. The Insured Has Also Eliminated Most Fatty Foods From His Diet. Which Method Of
Dealing With Risk Does This Scenario Describe?
A. Retention
,B. Reduction
C. Transfer
D. Avoidance
B. Reduction
The Insured's Change In Lifestyle And Habits Would Likely Reduce The Chances Of Health
Problems
In Insurance, An Offer Is Usually Made When
A. An Applicant Submits An Application To The Insurer
B. The Insurer Approves The Application And Receives The Initial Premium
C. The Agent Hands The Policy To The Policyholder
D. An Agent Explains A Policy To A Potential Applicant
A. An Applicant Submits An Application To The Insurer
In Insurance, The Offer Is Usually Made By The Applicant In The Form Of An Application.
Acceptance Takes Place When An Insurer's Underwriter Approves The Application And Issues A
Policy
The Causes Of Loss Insured Against In An Insurance Policy Are Known As
A. Perils
,B. Losses
C. Risks
D. Hazards
A. Perils
Perils Are The Causes Of Loss Insured Against In An Insurance Policy
What Documentation Grants Express Authority To An Agent?
A. Agents Contract With The Principal
B. Agents Insurance License
C. Fiduciary Contract
D. State Provisions
A. Agents Contract With The Principal
The Principal Grants Authority To An Agent Through The Agent's Contract
Which Of The Following Best Describes An Insurance Company That Has Been Formed Under
The Laws Of This State?
A. Domestic
B. Sovereign
C. Alien
, D. Foreign
A. Domestic
A Company Is Domestic When Doing Business Within The State In Which It Is Incorporated
Which Of The Following Factors Is Not Considered By An Underwriter When Determining The
Premium Rates For An Individual Seeking Insurance?
A. Medical History
B. Sex
C. Age
D. Race
D. Race
Age, Medical History, And Sex Provide Sound Statistical Date For Determining The Probability Of
Loss. Race, Religion, Sexual Orientation, Etc. Are The Factors That Cannot Be Used Because
There Is Not Sound Statistical Data To Show That They Effect The Probability Of Loss; Therefore,
They Are Considered To Be Discriminatory
In Insurance Transactions, Fiduciary Responsibility Means
A. Handling Insurer Funds In A Trust Capacity
B. Maintaining Good Credit Record
C. Being Liable With Respect To Payment Of Claims
D. Commingling Premiums With Agents Personal Funds
ACCURATE CURRENTLY TESTING VERSION WITH A STUDY
GUIDE AND KNOWLEDGE FLASHCARDS | ACCURATE
AND VERIFIED FOR GUARANTEED PASS | LATEST UPDATE
An Insured Purchased An Insurance Policy 5 Years Ago. Last Year, She Received A Dividend Check
From The Insurance Company That Was Not Taxable. This Year, She Did Not Receive A Check
From The Insurer. From What Type Of Insurer Did The Insured Purchase The Policy?
A. Mutual
B. Reciprocal
C. Nonprofit Service Organization
D. Stock
A. Mutual
Funds Not Paid Out After Paying Claims And Other Operating Costs Are Returned To The Policy
Owners In The Form Of A Dividend. If All Funds Are Paid Out, No Dividends Are Paid
Following A Career Change, An Insured Is No Longer Required To Perform Many Physical
Activities, So He Has Implemented A Program Where He Walks And Jogs For 45 Minutes Each
Morning. The Insured Has Also Eliminated Most Fatty Foods From His Diet. Which Method Of
Dealing With Risk Does This Scenario Describe?
A. Retention
,B. Reduction
C. Transfer
D. Avoidance
B. Reduction
The Insured's Change In Lifestyle And Habits Would Likely Reduce The Chances Of Health
Problems
In Insurance, An Offer Is Usually Made When
A. An Applicant Submits An Application To The Insurer
B. The Insurer Approves The Application And Receives The Initial Premium
C. The Agent Hands The Policy To The Policyholder
D. An Agent Explains A Policy To A Potential Applicant
A. An Applicant Submits An Application To The Insurer
In Insurance, The Offer Is Usually Made By The Applicant In The Form Of An Application.
Acceptance Takes Place When An Insurer's Underwriter Approves The Application And Issues A
Policy
The Causes Of Loss Insured Against In An Insurance Policy Are Known As
A. Perils
,B. Losses
C. Risks
D. Hazards
A. Perils
Perils Are The Causes Of Loss Insured Against In An Insurance Policy
What Documentation Grants Express Authority To An Agent?
A. Agents Contract With The Principal
B. Agents Insurance License
C. Fiduciary Contract
D. State Provisions
A. Agents Contract With The Principal
The Principal Grants Authority To An Agent Through The Agent's Contract
Which Of The Following Best Describes An Insurance Company That Has Been Formed Under
The Laws Of This State?
A. Domestic
B. Sovereign
C. Alien
, D. Foreign
A. Domestic
A Company Is Domestic When Doing Business Within The State In Which It Is Incorporated
Which Of The Following Factors Is Not Considered By An Underwriter When Determining The
Premium Rates For An Individual Seeking Insurance?
A. Medical History
B. Sex
C. Age
D. Race
D. Race
Age, Medical History, And Sex Provide Sound Statistical Date For Determining The Probability Of
Loss. Race, Religion, Sexual Orientation, Etc. Are The Factors That Cannot Be Used Because
There Is Not Sound Statistical Data To Show That They Effect The Probability Of Loss; Therefore,
They Are Considered To Be Discriminatory
In Insurance Transactions, Fiduciary Responsibility Means
A. Handling Insurer Funds In A Trust Capacity
B. Maintaining Good Credit Record
C. Being Liable With Respect To Payment Of Claims
D. Commingling Premiums With Agents Personal Funds
