Primerica contract law - Study guides, Class notes & Summaries

Primerica Life Insurance Questions With Complete Solution Stranger-oriented life insurance policies are in direct opposition to the principle of a. law of large numbers b. good faith c. indemnity d. insurable interest - CORRECT ANSWERS d. insurable interest-STOLI purchaser doesn't know the insured, or have any interest in the insured's longevity, so it violates the principle of insurable interest Which is generally true regarding insureds who have earned prefer...

Primerica Life Insurance License Questions & Answers. 100% verified. 2022/2023. Rated A Which law is the foundation of statistical prediction of loss upon which rates for insurance are calculated? A) Law of Group Evaluation B) Law of Large Numbers C) Law of Masses D) Law of Averages - B) Law of Large Numbers A producer who fails to segregate premium monies from his own personal funds is guilty of: A) Theft B) Commingling C) Larceny D) Embezzlement - B) Commingling In insuranc...

Primerica Insurance Exam: General Insurance correctly answered 2023Insurance A contract in which one party agrees to indemnify the insured party against loss, damage or liability from an unknown event. Insurance transfers The reduction, decrease, or disappearance of value of the person or property insured in a policy, caused by a named peril. Risk The uncertainty or chance of a loss occurring. Pure risk Situations that can only result in a loss or no change Specul...

Primerica Practice Test Questions and Answers 2023 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 ...

Document Content and Description Below QUESTIONS THAT NEED REVIEW BEFORE EXAM. Primerica Exam Preview Questions with answers. 100% verified predictor quizzes. If the insurer provides a ten-day free-look period for a life insurance p olicy it sells, when may it give the Buyer's Guide and policy summary to the policyowner? - when the policy is delivered If an insurer provides for a free-look period of at least ten days, it may deliver the Buyer's Guide. Otherwise, the insurer must deliver the B...

Primerica-Life Insurance, All Questions and Answers 2023 Stranger-oriented life insurance policies are in direct opposition to the principle of a. law of large numbers b. good faith c. indemnity d. insurable interest d. insurable interest-STOLI purchaser doesn't know the insured, or have any interest in the insured's longevity, so it violates the principle of insurable interest Which is generally true regarding insureds who have earned preferred status? a. they keep a higher perc...

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 premium fixed annuity. - Correct answer-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 ...

Life insurance practice exam primerica Questions and Answers 2023 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 annuit...

Primerica-Life Insurance Questions and Answers 100% correct Stranger-oriented life insurance policies are in direct opposition to the principle of a. law of large numbers b. good faith c. indemnity d. insurable interest d. insurable interest-STOLI purchaser doesn't know the insured, or have any interest in the insured's longevity, so it violates the principle of insurable interest Which is generally true regarding insureds who have earned preferred status? a. they keep a higher p...

Primerica-Life Insurance Questions and Answers 2023 Stranger-oriented life insurance policies are in direct opposition to the principle of a. law of large numbers b. good faith c. indemnity d. insurable interest d. insurable interest-STOLI purchaser doesn't know the insured, or have any interest in the insured's longevity, so it violates the principle of insurable interest Which is generally true regarding insureds who have earned preferred status? a. they keep a higher percentag...