Study guides, Class notes & Summaries

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. - 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. Human life ...

An insurer has made all of the decisions regarding the provisions included in the insured's policy. The insured finds an objectionable provision and wants to negotiate it with the insurer but is not allowed to do so. Her only options are to reject the policy or accept it as is. Which contract feature does this describe? a) Unilateral b) Conditional c) Personal d) Adhesion - Adhesion An insurance policy that only requires a payment of premium at its inception, provides insurance protect...

The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - representations An annuity is considered fixed when it does all of the following EXCEPT - provides the annuitant with an interest rate that is the lesser of the guaranteed or current rate The most common type of...

PRIMERICA EXAM ( ORDER: ANSWERS/QUESTIONS) WITH COMPLETE SOLUTIONS

The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - Conditional receipt. Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - Representations. All of the following apply to the waiver of premium rider EXCEPT - There is no charge for this provision. An annuity is considered fixed when it does all of the following EXCEPT - Provides the ...

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. - 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. Human life ...

PRIMERICA LIFE INSURANCE EXAM | Questions with 100% Correct Answers | Latest Update 2024 | Verified

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

Primerica Life & Health Insurance (multiple choice mostly) | Questions with 100% Correct Answers | Latest Update 2024 | Verified