Primerica practice Study guides, Class notes & Summaries

Primerica Practice Exam Test A with complete solution

1. An annuity that is purchased with a lump sum premium and whose benefits begin after 12 months is called a: A. Single premium immediate annuity. B. Single premium deferred annuity. C. Level premium variable annuity. D. Flexible premium fixed annuity. - Answer--Single premium deferred annuity 2. A technique used to determine the amount of life insurance needed by focusing on the projected earning potential of an insured is called the: A. Needs approach. B. Future income option. C...

Primerica Practice Exam B | multiple questions and answers | Latest 2024/25

Primerica Practice Exam B Questions With Verified Answers 1. The annuity income amount is based on whose life? A. Owner B. Insured C. Annuitant D. Beneficiary - answerannuitant 2. An injured party to a contract is able to rescind the contract for A. Representations. B. Unintentional concealment C. Health problems D. Financial difficulties. - answerunintentional concealment 3. A whole life policy that will generate immediate cash value is A. Single premium. B. Continuous premium. C...

Primerica Pre-licensing Course Exam Practice Questions with 100% Correct Answers.Primerica Pre-licensing Course Exam Practice Questions with 100% Correct Answers.

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 settlementAnswer - d Which of the following best describes fixed-period settlement option? a) Only the principal amount will be paid out within a specified p...

Primerica Practice Exam B

Primerica Practice Exam 7 | Questions with 100% Correct Answers | Latest Update 2024 | Verified

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 Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called Answer - representations An annuity is considered fixed when it does all of the following EXCEPT Answer - provides the annuitant with an interest rate that is the lesser of the guaranteed or current rate...