Primerica-Life Insurance, All
________ refers to the situations that may simplest result in a loss or no exchange -
ANS-natural chance
#39. An agent accepts the premium charge 35 days after it's miles due, telling the insured that
there'll no longer be a problem keeping the policy in force. This is an instance of what sort of
agent authority?
A)Express
b)Implied
c)Assumed
d)Apparent
An agent who accepts a top class after the stop of the grace duration appears to the client to
have the authority to prevent the policy from lapsing. In fact, the agent has no such energy. -
ANS-#39. An agent accepts the top rate charge 35 days after it's miles due, telling the insured
that there will not be a problem retaining the policy in force. This is an instance of what kind of
agent authority?A)Express
b)Implied
c)Assumed
d)Apparent
An agent who accepts a premium after the end of the grace duration appears to the patron to
have the authority to prevent the policy from lapsing. In reality, the agent has no such electricity.
#40. An agent is making an attempt to convince a ability insured to shop for a coverage from
him, so he misrepresents the blessings of the policy. This is an instance of
a)Concealment
b)Indemnity
c)Fraud
d)Defamation
. - ANS-c)Fraud
Fraud is the intentional misrepresentation used to result in any other party to make or chorus
from creating a agreement, or to lie to or cheat a party
#43. An insured misstates her age on the time the life insurance software is taken. This
misstatement may additionally bring about
a)Adjustment in the quantity of dying advantage.
B)No exchange in any respect
c)Automatic lapse
d)Recession of the policy - ANS-a)Adjustment in the quantity of demise benefit.
,If the applicant has misstated his or her age or gender on the utility, the insurer, in the occasion
of a claim, is authorized underneath this provision to regulate the benefits to an amount that the
premium at the perfect age or gender could have in any other case purchased.
#6. Your customer needs both safety and financial savings from the coverage, and is inclined to
pay rates till retirement at age 65. What would be the right coverage for this
consumer?A)Limited pay complete life coverage
b)10-year endowment
c)Life annuity, duration sure
d)Increasing time period insurance - ANS-#6. Your patron desires each safety and financial
savings from the coverage, and is willing to pay charges until retirement at age sixty five. What
would be the proper policy for this client?A)Limited pay complete life insuranceb)10-yr
endowmentc)Life annuity, period certaind)Increasing time period insurance Premium payments
will stop at her age sixty five, but coverage will maintain to her dying or age one hundred.
1. A presentation of nonguaranteed factors of a policy - ANS-15.The time period "illustration" in
a lifestyles insurance coverage refers to (Choose from the subsequent options)
1. A presentation of nonguaranteed elements of a coverage
2. A depiction of policy blessings and ensures
3. Pictures accompanying a policy
4. Charts and graphs.
1. An index like Standard & Poor's 500 - ANS-30.The equity in an equity index annuity is linked
to (Choose from the following alternatives)
1. An index like Standard & Poor's 500
2. The returns from the insurance organisation's separate account
three. The annuitant's individual inventory portfolio
four. The insurance company's preferred account investments.
1. An index like Standard & Poor's 500 - ANS-33.The equity in an equity index annuity is linked
to (Choose from the subsequent options)
1. An index like Standard & Poor's 500
2. The returns from the coverage corporation's separate account
3. The annuitant's character inventory portfolio
4. The coverage organization's widespread account investments.
1. An insured and his infant are injured in the identical accident, and the uninjured, nonworking
partner wants to gather hassle advantages from the coins price of the existence coverage -
ANS-Which of the following conditions might be addressed through The Uniform Simultaneous
Death with a Common Disaster provision? (Choose from the following options)
1. An insured and his baby are injured in the equal twist of fate, and the unhurt, nonworking
spouse wants to acquire problem benefits from the coins cost of the lifestyles coverage
2. The insured and number one beneficiary are injured within the equal automobile twist of fate,
and the beneficiary dies within 30 days of the insured
,3. Two beneficiaries of a existence coverage coverage are both killed in the identical automobile
accident. Because there are no ultimate beneficiaries, the insured need to pick out new ones
four. Both the insured and beneficiary are critically injured and want to request superior
blessings to pay for hospitalization and next medical treatment.
1. An insured and his infant are injured within the same accident, and the uninjured, nonworking
spouse desires to collect trouble advantages from the coins price of the life policy - ANS-Which
of the following situations might be addressed through The Uniform Simultaneous Death with a
Common Disaster provision? (Choose from the following alternatives)
1. An insured and his toddler are injured within the identical accident, and the unhurt,
nonworking spouse desires to gather trouble advantages from the cash value of the lifestyles
coverage
2. The insured and primary beneficiary are injured within the identical automobile coincidence,
and the beneficiary dies within 30 days of the insured
three. Two beneficiaries of a life coverage policy are each killed in the identical automobile twist
of fate. Because there aren't any final beneficiaries, the insured need to pick out new ones
four. Both the insured and beneficiary are seriously injured and need to request advanced
benefits to pay for hospitalization and next scientific treatment.
1. Annually Renewable Term - ANS-All other elements being identical, the least luxurious first-yr
top class payment is found ina)Annually Renewable Term.B)Increasing Term.C)Decreasing
Term.D)Level Term. Annually renewable term is the purest form of time period insurance. The
demise advantage remains degree, however the top class will increase each 12 months with the
insured's attained age. In reducing regulations, at the same time as the face amount decreases,
the top class stays steady during the existence of the contracts. In stage term and increasing
time period rules, the top class additionally remains degree for the time period of the coverage.
Therefore, within the different varieties of level rules, the first-year top class might no longer be
specific from another year.
1. Apparent - ANS-thirteen. Which type of authority is based on the moves, words, or deeds of
the fundamental?A)Apparentb)Expressc)Lingering impliedd)Implied Apparent authority is the
advent of, or the idea of, authority primarily based on the movements, words, or deeds of the
fundamental or due to occasions the important created.
1. Fraternal insurer - ANS-An corporation that, further to other sports, affords a formal coverage
plan to its individuals is classified as a (Choose from the following alternatives)
1. Fraternal insurer
2. Mutual organization
3. Stock employer
four. Reciprocal affiliation.
1. Fraternal insurer - ANS-An corporation that, further to different sports, presents a proper
coverage plan to its participants is classified as a (Choose from the subsequent alternatives)
1. Fraternal insurer
, 2. Mutual corporation
3. Stock corporation
4. Reciprocal association.
1. It is a degree term insurance - ANS-32.Which of the subsequent first-class describes annually
renewable term coverage? (Choose from the subsequent alternatives)
1. It is a degree time period coverage
2. It requires evidence of insurability at each renewal
3. Neither the top class nor the loss of life advantage is stricken by the insured's age.
4. It provides yearly growing loss of life benefit.
1. Specified - ANS-10.All of the subsequent are beneficiary designations EXCEPT (Choose
from the following options)
1. Specified
2. Tertiary
3. Contingent
four. Primary.
1. The time period at some point of which accrued money is converted into income payments -
ANS-1.Which of the subsequent exceptional describes what the "annuity length" is? (Choose
from the following alternatives)
1. The period of time at some point of which accrued money is converted into earnings
payments
2. The period of time spanning from the buildup length to the annuitization length
three. The period of time in the course of which cash is accrued in an annuity
4. The time period spanning from the effective date of the contract to the date of its termination
1. The coverage will terminate while the cash cost is decreased to not anything. - ANS-If an
insured always makes use of the automatic top class mortgage choice to pay the policy top rate,
(Choose from the following alternatives)
1. The policy will terminate whilst the cash cost is decreased to nothing
2. The face quantity of the policy may be decreased by way of the automated premium
mortgage quantity
3. The cash cost will preserve to growth
4. The insurer will boom the premium quantity.
1. The coverage will terminate when the coins fee is reduced to nothing. - ANS-If an insured
continually uses the automated premium loan choice to pay the policy premium, (Choose from
the following alternatives)
1. The coverage will terminate while the coins value is reduced to not anything
2. The face quantity of the coverage can be decreased via the automatic premium mortgage
quantity
three. The coins cost will preserve to boom
4. The insurer will boom the top class quantity.
________ refers to the situations that may simplest result in a loss or no exchange -
ANS-natural chance
#39. An agent accepts the premium charge 35 days after it's miles due, telling the insured that
there'll no longer be a problem keeping the policy in force. This is an instance of what sort of
agent authority?
A)Express
b)Implied
c)Assumed
d)Apparent
An agent who accepts a top class after the stop of the grace duration appears to the client to
have the authority to prevent the policy from lapsing. In fact, the agent has no such energy. -
ANS-#39. An agent accepts the top rate charge 35 days after it's miles due, telling the insured
that there will not be a problem retaining the policy in force. This is an instance of what kind of
agent authority?A)Express
b)Implied
c)Assumed
d)Apparent
An agent who accepts a premium after the end of the grace duration appears to the patron to
have the authority to prevent the policy from lapsing. In reality, the agent has no such electricity.
#40. An agent is making an attempt to convince a ability insured to shop for a coverage from
him, so he misrepresents the blessings of the policy. This is an instance of
a)Concealment
b)Indemnity
c)Fraud
d)Defamation
. - ANS-c)Fraud
Fraud is the intentional misrepresentation used to result in any other party to make or chorus
from creating a agreement, or to lie to or cheat a party
#43. An insured misstates her age on the time the life insurance software is taken. This
misstatement may additionally bring about
a)Adjustment in the quantity of dying advantage.
B)No exchange in any respect
c)Automatic lapse
d)Recession of the policy - ANS-a)Adjustment in the quantity of demise benefit.
,If the applicant has misstated his or her age or gender on the utility, the insurer, in the occasion
of a claim, is authorized underneath this provision to regulate the benefits to an amount that the
premium at the perfect age or gender could have in any other case purchased.
#6. Your customer needs both safety and financial savings from the coverage, and is inclined to
pay rates till retirement at age 65. What would be the right coverage for this
consumer?A)Limited pay complete life coverage
b)10-year endowment
c)Life annuity, duration sure
d)Increasing time period insurance - ANS-#6. Your patron desires each safety and financial
savings from the coverage, and is willing to pay charges until retirement at age sixty five. What
would be the proper policy for this client?A)Limited pay complete life insuranceb)10-yr
endowmentc)Life annuity, period certaind)Increasing time period insurance Premium payments
will stop at her age sixty five, but coverage will maintain to her dying or age one hundred.
1. A presentation of nonguaranteed factors of a policy - ANS-15.The time period "illustration" in
a lifestyles insurance coverage refers to (Choose from the subsequent options)
1. A presentation of nonguaranteed elements of a coverage
2. A depiction of policy blessings and ensures
3. Pictures accompanying a policy
4. Charts and graphs.
1. An index like Standard & Poor's 500 - ANS-30.The equity in an equity index annuity is linked
to (Choose from the following alternatives)
1. An index like Standard & Poor's 500
2. The returns from the insurance organisation's separate account
three. The annuitant's individual inventory portfolio
four. The insurance company's preferred account investments.
1. An index like Standard & Poor's 500 - ANS-33.The equity in an equity index annuity is linked
to (Choose from the subsequent options)
1. An index like Standard & Poor's 500
2. The returns from the coverage corporation's separate account
3. The annuitant's character inventory portfolio
4. The coverage organization's widespread account investments.
1. An insured and his infant are injured in the identical accident, and the uninjured, nonworking
partner wants to gather hassle advantages from the coins price of the existence coverage -
ANS-Which of the following conditions might be addressed through The Uniform Simultaneous
Death with a Common Disaster provision? (Choose from the following options)
1. An insured and his baby are injured in the equal twist of fate, and the unhurt, nonworking
spouse wants to acquire problem benefits from the coins cost of the lifestyles coverage
2. The insured and number one beneficiary are injured within the equal automobile twist of fate,
and the beneficiary dies within 30 days of the insured
,3. Two beneficiaries of a existence coverage coverage are both killed in the identical automobile
accident. Because there are no ultimate beneficiaries, the insured need to pick out new ones
four. Both the insured and beneficiary are critically injured and want to request superior
blessings to pay for hospitalization and next medical treatment.
1. An insured and his infant are injured within the same accident, and the uninjured, nonworking
spouse desires to collect trouble advantages from the coins price of the life policy - ANS-Which
of the following situations might be addressed through The Uniform Simultaneous Death with a
Common Disaster provision? (Choose from the following alternatives)
1. An insured and his toddler are injured within the identical accident, and the unhurt,
nonworking spouse desires to gather trouble advantages from the cash value of the lifestyles
coverage
2. The insured and primary beneficiary are injured within the identical automobile coincidence,
and the beneficiary dies within 30 days of the insured
three. Two beneficiaries of a life coverage policy are each killed in the identical automobile twist
of fate. Because there aren't any final beneficiaries, the insured need to pick out new ones
four. Both the insured and beneficiary are seriously injured and need to request advanced
benefits to pay for hospitalization and next scientific treatment.
1. Annually Renewable Term - ANS-All other elements being identical, the least luxurious first-yr
top class payment is found ina)Annually Renewable Term.B)Increasing Term.C)Decreasing
Term.D)Level Term. Annually renewable term is the purest form of time period insurance. The
demise advantage remains degree, however the top class will increase each 12 months with the
insured's attained age. In reducing regulations, at the same time as the face amount decreases,
the top class stays steady during the existence of the contracts. In stage term and increasing
time period rules, the top class additionally remains degree for the time period of the coverage.
Therefore, within the different varieties of level rules, the first-year top class might no longer be
specific from another year.
1. Apparent - ANS-thirteen. Which type of authority is based on the moves, words, or deeds of
the fundamental?A)Apparentb)Expressc)Lingering impliedd)Implied Apparent authority is the
advent of, or the idea of, authority primarily based on the movements, words, or deeds of the
fundamental or due to occasions the important created.
1. Fraternal insurer - ANS-An corporation that, further to other sports, affords a formal coverage
plan to its individuals is classified as a (Choose from the following alternatives)
1. Fraternal insurer
2. Mutual organization
3. Stock employer
four. Reciprocal affiliation.
1. Fraternal insurer - ANS-An corporation that, further to different sports, presents a proper
coverage plan to its participants is classified as a (Choose from the subsequent alternatives)
1. Fraternal insurer
, 2. Mutual corporation
3. Stock corporation
4. Reciprocal association.
1. It is a degree term insurance - ANS-32.Which of the subsequent first-class describes annually
renewable term coverage? (Choose from the subsequent alternatives)
1. It is a degree time period coverage
2. It requires evidence of insurability at each renewal
3. Neither the top class nor the loss of life advantage is stricken by the insured's age.
4. It provides yearly growing loss of life benefit.
1. Specified - ANS-10.All of the subsequent are beneficiary designations EXCEPT (Choose
from the following options)
1. Specified
2. Tertiary
3. Contingent
four. Primary.
1. The time period at some point of which accrued money is converted into income payments -
ANS-1.Which of the subsequent exceptional describes what the "annuity length" is? (Choose
from the following alternatives)
1. The period of time at some point of which accrued money is converted into earnings
payments
2. The period of time spanning from the buildup length to the annuitization length
three. The period of time in the course of which cash is accrued in an annuity
4. The time period spanning from the effective date of the contract to the date of its termination
1. The coverage will terminate while the cash cost is decreased to not anything. - ANS-If an
insured always makes use of the automatic top class mortgage choice to pay the policy top rate,
(Choose from the following alternatives)
1. The policy will terminate whilst the cash cost is decreased to nothing
2. The face quantity of the policy may be decreased by way of the automated premium
mortgage quantity
3. The cash cost will preserve to growth
4. The insurer will boom the premium quantity.
1. The coverage will terminate when the coins fee is reduced to nothing. - ANS-If an insured
continually uses the automated premium loan choice to pay the policy premium, (Choose from
the following alternatives)
1. The coverage will terminate while the coins value is reduced to not anything
2. The face quantity of the coverage can be decreased via the automatic premium mortgage
quantity
three. The coins cost will preserve to boom
4. The insurer will boom the top class quantity.
