PRIMERICA EXAM 2023 WITH 100% CORRECT ANSWERS Primerica Life & Health Insurance exam 2023 with 100% correct answers Primerica - Life Insurance Exam 2023 with 100% correct answers
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An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonp...
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Add to cartAn insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonp...
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 representati...
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Add to cartThe 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 representati...
Deferred Annuity An annuity in which the income payments begin sometime after one year from the date of red annuities can be funded with a single lump sum payment so it is referred to as a single premium differed annuities. Human life values approach Calculates an individual's life value b...
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Add to cartDeferred Annuity An annuity in which the income payments begin sometime after one year from the date of red annuities can be funded with a single lump sum payment so it is referred to as a single premium differed annuities. Human life values approach Calculates an individual's life value b...
What is insurance? Transfer of the possibility of loss (risk) to an insurance company. What is a risk? The uncertainty of financial loss There are two types of loss Pure and Speculative Which type of loss is insurable? Pure Why is Pure loss insurable? Loss must be fi...
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Add to cartWhat is insurance? Transfer of the possibility of loss (risk) to an insurance company. What is a risk? The uncertainty of financial loss There are two types of loss Pure and Speculative Which type of loss is insurable? Pure Why is Pure loss insurable? Loss must be fi...
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 featu...
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Add to cartAn 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 featu...
Risk uncertainty of a financial loss; 2 types Two typed of risks Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? You get to transfer financial risk left after passing to insurance company Law of large numbers the larger the size of the group ...
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Add to cartRisk uncertainty of a financial loss; 2 types Two typed of risks Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? You get to transfer financial risk left after passing to insurance company Law of large numbers the larger the size of the group ...
If an insurer meets the state's financial requirements and is approved to transact business in the state, it is considered to be Authorized A participating insurance policy may do which of the following? Pay dividends to the policy owner An insured owns a life insurance policy. To b...
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Add to cartIf an insurer meets the state's financial requirements and is approved to transact business in the state, it is considered to be Authorized A participating insurance policy may do which of the following? Pay dividends to the policy owner An insured owns a life insurance policy. To b...
Guaranteed insurability option An individual is purchasing a permanent life insurance with a face value of $25,000. While this is all the insurance that he can afford at this time, he wants to be sure that additional coverage will be available in the future. Which of the following options should be...
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Add to cartGuaranteed insurability option An individual is purchasing a permanent life insurance with a face value of $25,000. While this is all the insurance that he can afford at this time, he wants to be sure that additional coverage will be available in the future. Which of the following options should be...
If the agent fails to obtain an applicant's signature on the application, the agent must: a) Sign the application, stating it was by the agent b) Send the application to the insurer with a note explaining the absence of the signature c) Return the application for a signature d) Sign the applica...
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Add to cartIf the agent fails to obtain an applicant's signature on the application, the agent must: a) Sign the application, stating it was by the agent b) Send the application to the insurer with a note explaining the absence of the signature c) Return the application for a signature d) Sign the applica...
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