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Primerica Chapter 1 questions fully solved & updated
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Primerica Chapter 1 questions fully solved & updated
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Primerica Chapter 1 questions fully solved& updated
What do individuals use to transfer their risk of loss to a larger group? -
ANSWER-Insurance
Best Describe the MIB - ANSWER-Nonprofit organization that maintains
underwriting information on applicants for life and health insurance
An Insurer neglects to pay a legitimate claim that is covered under the terms of
the policy. What insurance principles has the insurer violated? - ANSWER-
Consideration
The term "illustration" in a life insurance policy refers to... - ANSWER-A
presentation of guaranteed elements of a policy
Most agents try to collect the initial premium for submission with the application.
When an agent collects the initial premium from the applicant, the agent should
issue the applicant a... - ANSWER-Premium receipt
What document must be provided to the policy owner or applicant during policy
replacement? - ANSWER-Notice Regarding Replacement
In insurance, an offer is usually made when... - ANSWER-the application is
submitted
When must insurable interest exist in a life insurance policy? - ANSWER-At the
time of application
What is the purpose of a conditional receipt? - ANSWER-It is intended to provide
coverage on a date earlier than the date of the issuance of the policy
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