Primerica 2023 exam - Study guides, Class notes & Summaries

Primerica Life Insurance Exam 2023 Questions and Answers (Verified Answers) Primerica Life Insurance Exam 2023 Questions and Answers (Verified Answers)

PRIMERICA LIFE INSURANCE EXAM 2023 - ALL QUESTION WITH CORRECT ANSWERS 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. nonprofitservice organization d. stock - ANSWER A. mutual funds not paid out after paying claims and other operating costs are re...

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Primerica Life Insurance Exam | 2023/ 2024 (Questions and 100% Verified Answers) 1. The frequency and the amount of the premium payment are known as what? Answer: Premium mode 2. What type of insurer uses a formal sharing agreement Answer: Reciprocal Insurers 3. According to the California Insurance Code any person legally capable of making an insurance policy is considered Answer: An insurer 4. Which of the following losses would likely be c...

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Primerica Life Insurance Exam | 2023/ 2024 Newly Updated!!! (Questions and Verified Answers with Rationales) 100% Correct 1. Which of the following best defines target premium in a universal life policy? ~ Answer: The recommended amount to keep the policy in force throughout its lifetime 2. Which of the following would help prevent a universal life policy from lapsing? ~ Answer: Target premium 3. A Universal Life insurance policy is best described as a/an ~ Answe...

Primerica Life Insurance 2023/ 2024 Exam | (Questions and 100% Correct Verified Answers) 1. An applicant wants to buy a policy that has cash value element. Which type should she buy? a. term b. permanent c. stock d. investment Answer: b. permanent- death protection and savings/cash value option 2. What are the personal uses of life insurance? a. insured protection, estate creation and cash accumulation b. cash accumulation, estate depletion and liquidity c. beneficiary p...

Primerica Life Insurance 2023/ 2024 Exam | (Questions and Verified Answers) 100% Correct 1. Which is the primary source of information used for insurance underwriting? a. applicant interview b. medical records c. private investigations d. application ~ Answer: d. application 2. Two equal partners in a business worth $150,000 are using a Cross Purchase plan to protect against the death of each other. Which of the following statements would be correct? a. partner B buys a polic...