Primerica 61 questions with complete solutions

A father purchases a life insurance policy on his teenage daughter and adds the Payor Benefit rider. In which of the following scenarios will the rider waive the payment of premium? correct answer: If the father is disabled for more than 6 months Which of the following policy components contains the company's promise to pay? correct answer: Insuring clause Which of the following best describes the concept that the insured pays a small amount of premium for a large amount of risk on the part of the insurance company? correct answer: Aleatory Which of the following is TRUE regarding the accumulation period of an annuity? correct answer: It is a period during which the payments into the annuity grow tax deferred. An insured has a life insurance policy that requires him to only pay premiums for a specified number of years until the policy is paid up. What kind of policy is it? correct answer: Limited-pay Life When would a misrepresentation on the insurance application be considered fraud? correct answer: If it is intentional and material What is a definition of a unilateral contract? correct answer: One-sided: only one party makes an enforceable pr