PRIMERICA Study Guide Questions with
Correct Answers
What type if policy is considered temporary protection?
Term Life
The type of policy that can be changed from one that does not accumulate cash value to
one that does it a....
Convertible term policy
Which type of insurance would be most appropriate to use to pay off a mortgage in case
the insured dies prematurely?
Decreasing Term
The most common type of whole life insurance where premiums are payable over the
whole life of the insured to age 100 is called...
Ordinary Whole Life
An insured agreed to pay premiums for 20 years, after which she will still be covered at
age 100. She purchased a....
Limited pay policy
Universal life is a combination of....
Annually renewable term and a cash account
In the Variable Life Policy, where are premiums deposition after expenses are
deducted?
The separate account
, Selling which of the following policies would require a license issued by FINRA?
Variable Universal Life
The policy that covers 2 or more lives and pays on the death of the last insured is....
Survivorship Life
A contract that can provide income for life and protect against outliving your money is
a/an...
Annuity
The period of time during which money is paid into an annuity and interest is earned is
called the...
Accumulation Period
An immediate Annuity has no accumulation period which means it can only be
purchased...
with a single premium
An individual wants to convert a lump sum of money to purchase an annuity that will
provide an immediate, guaranteed income for life. Which of the following types of
annuity should this individual purchase?
Single Premium Annuity
An annuity whose return is based on an index like the S&P 500 is called a/an...
Indexed Annuity
Which of the following life insurance policies will provide coverage beyond the end of
the premium payment period?
Correct Answers
What type if policy is considered temporary protection?
Term Life
The type of policy that can be changed from one that does not accumulate cash value to
one that does it a....
Convertible term policy
Which type of insurance would be most appropriate to use to pay off a mortgage in case
the insured dies prematurely?
Decreasing Term
The most common type of whole life insurance where premiums are payable over the
whole life of the insured to age 100 is called...
Ordinary Whole Life
An insured agreed to pay premiums for 20 years, after which she will still be covered at
age 100. She purchased a....
Limited pay policy
Universal life is a combination of....
Annually renewable term and a cash account
In the Variable Life Policy, where are premiums deposition after expenses are
deducted?
The separate account
, Selling which of the following policies would require a license issued by FINRA?
Variable Universal Life
The policy that covers 2 or more lives and pays on the death of the last insured is....
Survivorship Life
A contract that can provide income for life and protect against outliving your money is
a/an...
Annuity
The period of time during which money is paid into an annuity and interest is earned is
called the...
Accumulation Period
An immediate Annuity has no accumulation period which means it can only be
purchased...
with a single premium
An individual wants to convert a lump sum of money to purchase an annuity that will
provide an immediate, guaranteed income for life. Which of the following types of
annuity should this individual purchase?
Single Premium Annuity
An annuity whose return is based on an index like the S&P 500 is called a/an...
Indexed Annuity
Which of the following life insurance policies will provide coverage beyond the end of
the premium payment period?
