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Primerica Practice Test / Actual Exam Questions and Correct Answers (Verified, Detailed Answers) A Grade. _____________Quiz____________? The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - Answer conditional receipt _____________Quiz____________? Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - Answer ...

Primerica Life Insurance Test Exam All Questions 100% Solved New Update An example of an alien insurer doing business in this state is one formed under the laws of - Answers - Mexico Partners in a business want to make sure that if - Answers - Buy-Sell Agreement Ten years ago an insured purchased a life insurance policy designed to pay his family $500 - Answers - Family income policy An agent delivers a policy to an applicant who pays the initial premium but refuses to submit - Answe...

Life Insurance Primerica Exam Questions 100% Complete Solutions New Update Which statement is NOT true Which will be included in a policy summary? - Answers - Premium amounts and surrender values Why should the producer personally deliver the policy when the first premium has already been paid? - Answers - To help the insured understand all aspects of the contract An insurance contract requires that both the insured and the insurer meet certain conditions in order for the contract to ...

Life Insurance Primerica Exam Questions 100% Correct Answers Current Update 401 k plan - Answers - A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - Answers - Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit - Answers ...

Primerica-General Insurance Exam Questions 100% Correct Answers New Update Adverse selection is a concept best described as: - Answers - risks with higher probability of loss seeking insurance more often than other risks Courts will interpret any ambiguity in an insurance contract: - Answers - in the favor of the insured- insurance policies are contracts of adhesion. the insurer writes the contract and the insured accepts the contract as it is written. when ambiguities exist, courts genera...

Insurance (Primerica) Exam Questions 100% Correct Answers Current Update Be hearing must be held within 10 days of receiving a request, unless both parties agree to a later date - Answers - An Agnet receives an emergency cease and desist for chronically misrepresenting his insurance policies. The agent knows that he did not commit the violation stated in the emergency cease and desist order. He wants to contest the charges in a court hearing which of the following is true? Certificate of a...

Primerica Insurance Exam Questions 100% Correct Answers New Update What is the clause that describes the method of paying the death benefit in the event that the insured and beneficiary are both killed in the same accident? - Answers - Common Disaster Clause An insured purchased a variable life insurance policy with a face amount of $50,000. Over the life of the policy, stock performance declined and the the cash value fell to $10,000. If the insured dies how much will be paid out? - Answe...

Primerica Life Insurance Exam Questions Bank with Correct Answers In life insurance policies, cash value increases are - ANS: tax deferred If $100,000 of life insurance proceeds were used in a settlement option which paid $13,000 per year for 10 years, which of the following amounts would be taxable annually? - ANS: $3,000 Which of the following terms is used to name the nontaxable, return of unused premiums? - ANS: dividend Excess contributions to a Roth IRA are subject to what tax pe...

Primerica Life Insurance Exam Practice Questions with Correct Answers The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - ANS: conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - ANS: representations An annuity is considered fixed when it does all of the following EXCEPT - ANS: provides the annuitant with an in...

Primerica Life Insurance Exam With Answer Explanations 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 - ANS: A. mutual funds not paid out after paying claims and other operating costs are returned to the poli...