Social Sciences Business Insurance
Primerica-Life Insurance
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Stranger-oriented life insurance policies are in direct d. insurable interest-STOLI purchaser doesn't know the insured, or have any
opposition to the principle of interest in the insured's longevity, so it violates the principle of insurable interest
a. law of large numbers
b. good faith
c. indemnity
d. insurable interest
Which is generally true regarding insureds who have b. their premiums are lower- the insured is in excellent physical condition and
earned preferred status? employs healthy lifestyles and habits
a. they keep a higher percentage of any interest earned
on their policies
b. their premiums are lower
c. they can barrow higher amounts off of their policies
d. they can decide when to pay their monthly premiums
All of the following statements concerning the use of life c. the policy is owned by the company.
insurance as an Executive Bonus are correct EXCEPT:
a. the employer pays a bonus to a selected employee to
fund to policy
b. it is considered a non qualified employee benefit.
c. the policy is owned by the company
d. any type of insurance policy may be used.
An insured receives a monthly summary for his life a. variable- life policies vary in value, as the name suggests, because the value is
insurance policy. He notices that the cash value of the based on the stocks that support the policy. If a policyholder wants a more stable,
policy is significantly lower this month than it was last reliable value, he/she should invest in a fixed policy.
month. What type of policy does the insured have?
a. variable
b. term
c. securities
d. stock
, When an employer offers to give an employee a wage b. executive bonus
increase in the amount of the premium on a new life
insurance policy, this is called
a. aleatory contract
b. executive bonus
c. key person
d. a fraternal association
In terms of Social Security, what is the interval spanning Blackout period- begins when the youngest child reaches the age of 16, and ends
between the day when the youngest child of a family when the surviving spouse qualifies for retirement benefits, as early as age 60. No
turns 16 and before the surviving spouse may receive benefits are paid during this time.
retirement benefits?
Life insurance may be used to pay state inheritance taxes a. estate conservation- life insurance may be used to pay state inheritance taxes
and federal estate taxes so that it is not necessary to sell and federal estate taxes so that it is not necessary to sell off assets from the estate
off assets from the estate to pay these costs. This is called to pay these costs. This is called estate conservation.
a. estate conservation
b. estate creation
c. survivor protection
d. survivorship insurnce
Which of the following applicants could the insurer d. an applicant that smokes cigarettes as opposed to one that does not
charge a higher rate and not be charge with unfair
discrimination?
a. an applicant that was born in another country
b. an applicant who is legally blind
c. an applicant who has been a victim of domestic abuse
d. an applicant that smokes cigarettes as opposed to one
that does not
Partner A in a business buys a life insurance policy on Partner A
Partner B to protect herself against a financial loss if he
should die. Two years after the partnership is dissolved
Partner B dies. Who will receive the death benefit?
Which of the following is NOT a type of information that c. estimated longevity
needs to be gathered in order to determine the value of
someone's life when using the needs approach?
a. mortgages
b. expenses
c. estimated longevity
d. outstanding debt
An employee will be taxed on the cost of group life d. $50,000
insurance paid by the employer if the amount of
coverage exceeds
a. $10,000
b. $15,000
c. $25,000
d. $50,000
Primerica-Life Insurance
Save
Students also studied
Mike Russ Life accident and Health ... Exam Fx Ca life and Health ACTUAL ... Personal lines Property & Casualty AHIP M
Teacher 66 terms Teacher 361 terms Teacher 317 terms Teacher
quizlette56734316 Preview Brian_kiarie7 Preview Madyeke Preview Am
Stranger-oriented life insurance policies are in direct d. insurable interest-STOLI purchaser doesn't know the insured, or have any
opposition to the principle of interest in the insured's longevity, so it violates the principle of insurable interest
a. law of large numbers
b. good faith
c. indemnity
d. insurable interest
Which is generally true regarding insureds who have b. their premiums are lower- the insured is in excellent physical condition and
earned preferred status? employs healthy lifestyles and habits
a. they keep a higher percentage of any interest earned
on their policies
b. their premiums are lower
c. they can barrow higher amounts off of their policies
d. they can decide when to pay their monthly premiums
All of the following statements concerning the use of life c. the policy is owned by the company.
insurance as an Executive Bonus are correct EXCEPT:
a. the employer pays a bonus to a selected employee to
fund to policy
b. it is considered a non qualified employee benefit.
c. the policy is owned by the company
d. any type of insurance policy may be used.
An insured receives a monthly summary for his life a. variable- life policies vary in value, as the name suggests, because the value is
insurance policy. He notices that the cash value of the based on the stocks that support the policy. If a policyholder wants a more stable,
policy is significantly lower this month than it was last reliable value, he/she should invest in a fixed policy.
month. What type of policy does the insured have?
a. variable
b. term
c. securities
d. stock
, When an employer offers to give an employee a wage b. executive bonus
increase in the amount of the premium on a new life
insurance policy, this is called
a. aleatory contract
b. executive bonus
c. key person
d. a fraternal association
In terms of Social Security, what is the interval spanning Blackout period- begins when the youngest child reaches the age of 16, and ends
between the day when the youngest child of a family when the surviving spouse qualifies for retirement benefits, as early as age 60. No
turns 16 and before the surviving spouse may receive benefits are paid during this time.
retirement benefits?
Life insurance may be used to pay state inheritance taxes a. estate conservation- life insurance may be used to pay state inheritance taxes
and federal estate taxes so that it is not necessary to sell and federal estate taxes so that it is not necessary to sell off assets from the estate
off assets from the estate to pay these costs. This is called to pay these costs. This is called estate conservation.
a. estate conservation
b. estate creation
c. survivor protection
d. survivorship insurnce
Which of the following applicants could the insurer d. an applicant that smokes cigarettes as opposed to one that does not
charge a higher rate and not be charge with unfair
discrimination?
a. an applicant that was born in another country
b. an applicant who is legally blind
c. an applicant who has been a victim of domestic abuse
d. an applicant that smokes cigarettes as opposed to one
that does not
Partner A in a business buys a life insurance policy on Partner A
Partner B to protect herself against a financial loss if he
should die. Two years after the partnership is dissolved
Partner B dies. Who will receive the death benefit?
Which of the following is NOT a type of information that c. estimated longevity
needs to be gathered in order to determine the value of
someone's life when using the needs approach?
a. mortgages
b. expenses
c. estimated longevity
d. outstanding debt
An employee will be taxed on the cost of group life d. $50,000
insurance paid by the employer if the amount of
coverage exceeds
a. $10,000
b. $15,000
c. $25,000
d. $50,000
