Primerica Practice Exam Test A 75 Questions & Answers 2023
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Course
Primerica Practice
Institution
Primerica Practice
Primerica Practice Exam Test A 75 Questions &
Answers 2023
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 pre...
Primerica Practice Exam Test A 75 Questions & Answers 2023 1. An annuity that is purchased with a lump sum premium and whose benefits begin after 12 m onths is called a: A. Single premium immediate annuity. B. Single premium deferred annuity. C. Level premium variable annuity. D. Flexible premium fixed annuity. - Correct answer -Single premium deferred annuity 2. A technique used to determine the amoun t 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 value approach. D. Life income approach. - Correct answer -Human life value approach 3. When re placing a policy the producer must present the applicant with a Notice Regarding Replacement of Life Insurance: A. At the policy delivery date. B. 7 days after the initial meeting. C. On the date the underwriter approves the policy. D. At the time of taking the application. - Correct answer -At the time of taking the application 4. The possibility of a financial loss incurred by a life insurance company for the premature death of an insured is known as a: A. Peril. B. Risk. C. Hazard. D. Loss. - Correct answer -Risk 5. The Medical Information Bureau (MIB) is a nonprofit trade association that maintains: A. Motorist information on applicants for life and health insurance. B. Medical in formation on applicants for life and health insurance, C. Maternity information on female applicants for life and health insurance. D. Classifications of risk for previous policies. - Correct answer -medical information on applicants for life and health ins urance 6. A person who signs a fraudulent claim form may be found guilty of: A. Rebating. B. Perjury. C. Misdemeanor. D. Misrepresentation. - Correct answer -perjury 7. Which policy is a combination of annual renewable term insurance and interest -
sensitiv e cash value? A. Universal life B. Adjustable life C. Renewable term life D. Interest -sensitive whole life - Correct answer -universal life 8. The right to a full refund of premiums for insureds age 60 or older is: A. 10 days. B. 14 days. C. 20 days. D. 30 days. - Correct answer -30 days 9. The premium modes can be best described as the: A. Amount of premium payment. B. Method of premium payment. C. Frequency of premium payment. D. Calculation of premium payment. - Correct answer -Frequency of premium payment 10. Intentionally omitting a history of heart problems on an application is: A. Prudent. B. Misrepresentation. C. Consideration. D. Concealment. - Correct answer -Concealment 11. A tax -sheltered annuity (TSA) is a qualified plan availab le for: A. Employees of corporations. B. Self -employed persons. C. Nonprofit organizations. D. Group life insurance. - Correct answer -nonprofit organizations 12. The intent of replacement regulations is to protect the: A. Producer. B. Agency. C. Policyown er. D. Insurance company. - Correct answer -Policy owner 13. Which provision allows a lapsed policy to be put back in force? A. Replacement B. Incontestability C. Grace period D. Reinstatement - Correct answer -Reinstatement
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