PRIMERICA LIFE INSURANCE BUNDLED
EXAMS EXAMS SET 2026 FULL SOLUTIONS
AND CORRECT ANSWERS GRADED A+
⩥ Convertible. Answer: A policy that may be exchanged for another type
of policy by contractual provision, at the option of the policyowner, and
without evidence of insurability (i.e. term life changed to a form of
permanent life).
⩥ Countersignature. Answer: The act of signing an insurance policy by a
licensed resident agent.
⩥ Coverage. Answer: The inclusion of causes of loss (perils) which are
covered within a scope of a policy.
⩥ Credit Life Insurance. Answer: A special type of coverage written to
pay off the balance of a loan in the event of the death of the debtor.
⩥ Death Benefit. Answer: The amount payable upon the death of the
person whose life is insured.
⩥ Decreasing Term. Answer: A type of life insurance that features a
level premium and a death benefit that decreases each year over the
duration of the policy.
,⩥ Defamation. Answer: An unfair trade practice in which one agent or
insurer makes an injurious statement about another with the intent of
harming the person's or company's reputation.
⩥ Dependent. Answer: A person who relies on another for support and
maintenance.
⩥ Director. Answer: The chief executive and administrative officer of
the Insurance Department (in some states, known as Commissioner or
Superintendent).
⩥ Disclosure. Answer: An act of identifying the name of the producer,
representative or firm, limited insurance representative, or temporary
insurance producer on any policy solicitation.
⩥ Domestic Insurer. Answer: An insurance company that conducts
business in the state of incorporation.
⩥ Domicile of Insurer. Answer: Insurer's location of incorporation and
the legal ability to write business in a state.
⩥ Earned Premium. Answer: The amount of the premium for which the
policy protection has been given.
, ⩥ Effective Date. Answer: The date when an insurance policy begins
(also known as the inception date).
⩥ Employee Retirement Income Security Act (ERISA). Answer: The act
that stipulates federal standards for private pension plans.
⩥ Endorsement. Answer: A form changing the provisions of and
attached to a life insurance policy (also known as a rider).
⩥ Endow. Answer: To reach the maturity date or time at which the face
amount equals cash values.
⩥ Estoppel. Answer: A legal impediment to denying a fact or restoring a
right that has been previously waived.
⩥ Excess Insurance. Answer: Insurance that pays over and above or in
addition to basic policy limits.
⩥ Exclusions. Answer: Causes of loss, exposures, conditions, etc. listed
in the policy for which the benefits will not be paid.
⩥ Expiration. Answer: The date specified in the policy as the date of
termination.
EXAMS EXAMS SET 2026 FULL SOLUTIONS
AND CORRECT ANSWERS GRADED A+
⩥ Convertible. Answer: A policy that may be exchanged for another type
of policy by contractual provision, at the option of the policyowner, and
without evidence of insurability (i.e. term life changed to a form of
permanent life).
⩥ Countersignature. Answer: The act of signing an insurance policy by a
licensed resident agent.
⩥ Coverage. Answer: The inclusion of causes of loss (perils) which are
covered within a scope of a policy.
⩥ Credit Life Insurance. Answer: A special type of coverage written to
pay off the balance of a loan in the event of the death of the debtor.
⩥ Death Benefit. Answer: The amount payable upon the death of the
person whose life is insured.
⩥ Decreasing Term. Answer: A type of life insurance that features a
level premium and a death benefit that decreases each year over the
duration of the policy.
,⩥ Defamation. Answer: An unfair trade practice in which one agent or
insurer makes an injurious statement about another with the intent of
harming the person's or company's reputation.
⩥ Dependent. Answer: A person who relies on another for support and
maintenance.
⩥ Director. Answer: The chief executive and administrative officer of
the Insurance Department (in some states, known as Commissioner or
Superintendent).
⩥ Disclosure. Answer: An act of identifying the name of the producer,
representative or firm, limited insurance representative, or temporary
insurance producer on any policy solicitation.
⩥ Domestic Insurer. Answer: An insurance company that conducts
business in the state of incorporation.
⩥ Domicile of Insurer. Answer: Insurer's location of incorporation and
the legal ability to write business in a state.
⩥ Earned Premium. Answer: The amount of the premium for which the
policy protection has been given.
, ⩥ Effective Date. Answer: The date when an insurance policy begins
(also known as the inception date).
⩥ Employee Retirement Income Security Act (ERISA). Answer: The act
that stipulates federal standards for private pension plans.
⩥ Endorsement. Answer: A form changing the provisions of and
attached to a life insurance policy (also known as a rider).
⩥ Endow. Answer: To reach the maturity date or time at which the face
amount equals cash values.
⩥ Estoppel. Answer: A legal impediment to denying a fact or restoring a
right that has been previously waived.
⩥ Excess Insurance. Answer: Insurance that pays over and above or in
addition to basic policy limits.
⩥ Exclusions. Answer: Causes of loss, exposures, conditions, etc. listed
in the policy for which the benefits will not be paid.
⩥ Expiration. Answer: The date specified in the policy as the date of
termination.
