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Primerica Exam
99問 • 1年前
  • Rebekah Durham
    • 通報

    問題一覧

  • 1

    A whole life policy that will generate immediate cash value is a

    Single premium whole life

  • 2

    If an agent follows the rules in terms of his agent contract he is exercising his

    Contractual Authority

  • 3

    How is the licenses date of continuing continuing education credit review determined

    By the month and year of their birth

  • 4

    Which of the following statements concerning the medical information bureau is correct

    The MIB provides assistance in underwriting of life insurance

  • 5

    Individual members cover by group life insurance receive

    Certificate of Insurance

  • 6

    The reduction of premium option uses the dividend to reduce

    Next years premium

  • 7

    How long do temporary producers license last without requiring an examination

    180 days

  • 8

    Among the applicants in the same class and life expectancy which of the following factors can be used to determine premium rates

    Occuption

  • 9

    What does the application of contracting of adhesion mean

    A legal agreement that is drafted to one party, but not the other

  • 10

    In the event an annuitant dies during the accumulation period and there is a beneficiary named in the annuity annuity benefits would be paid to the

    The beneficiary

  • 11

    Premiums collected on behalf of the insurance company by an agent will be held in what capacity

    Fiduciary Capacity

  • 12

    Who acts on behalf of the principal

    The agent

  • 13

    The needs approach to calculating the amount of life insurance needed is based on

    The estimate of what would be lost to the family in the event of the premature death of the insured.

  • 14

    A couple purchase a life insurance policy on their newborn baby they are concerned about what would happen if to the policy if either of them were unable to continue making the premium payments due to death of disability which policy writer should agent recommend

    Payor Benefit

  • 15

    Life insurance creates an immediate estate which of the following best explains the statement

    The face value of the policy is payable to the beneficiary upon the death of the insured

  • 16

    Dividends received on participating life insurance policies are

    Not taxable because they are a return of unused premiums

  • 17

    Which of the following could reduce the amount of the death benefit

    Failure to repay the policy loan

  • 18

    How many days notice must an insurer provide to an insured regarding the lapse of a policy due to outstanding loans

    30 days

  • 19

    According to agency law the producer always represents the

    Insurers

  • 20

    A life insurance policy can be backdated to affect a lower premium for up to maximum by how many months

    6 months

  • 21

    Which of the following is not a personal use of life insurance

    An individual buys insurance to fund a buy-sell agreement

  • 22

    In terms of contract law a waiver is when someone

    Gives up a known right or privilege

  • 23

    All of the following are ways to handle risk except

    Avoidance

  • 24

    All the following information needs to be included on an application for life insurance except

    Life insurance with other insureds

  • 25

    Insurance contracts are unilateral and nature what does that mean

    Only one party makes any kind of enforcemenable promise

  • 26

    If an insured dies and it is discovered that the insured misstated their age or gender on the application the life insurance this company will

    Adjust the death benefit to what the premium would have purchased at the actual age or gender

  • 27

    All the following are true of annually renewable term insurance except

    Proof of insurability must be provided at each referral

  • 28

    Partners in a business want to make sure that if one of them were to pass their surviving family will receive a fair value for their portion in the business life insurance arrangement would be most suitable for transitioning the business

    Buy sell Agreement

  • 29

    The family term rider incorporates

    incorporates the spouse term rider along with the children's term rider in a single rider

  • 30

    The guaranteed insurability rider allows the owner to purchase additional amounts of the life insurance without proof of insurability at all of the following except

    Purchase of a new home

  • 31

    Which of the following bears the investment risk in a variable life insurance policy

    The policyowner

  • 32

    How many hours of continuing education are required to maintain a counselors license

    24 hours

  • 33

    All of the following are general requirements of a qualified plan EXCEPT

    The plan must be temporary

  • 34

    Cash value guarantees in a whole life policy are called

    Nonforfeiture values

  • 35

    Which of the following characteristics of a term life insurance

    Expires at the end of the policy period

  • 36

    During policy solicitation an insurer exaggerates the financial condition of one of its competitors and makes it sound worse than it is. This is an example of ?

    Defamation

  • 37

    Which of the following is the primary source of information that ensure uses to evaluate an insured risk for life insurance

    lnsurance Application

  • 38

    Which of the following is true regarding pure life annuity settlement option

    Provides highest monthly benefit

  • 39

    Once a temporary producer's license has expired its initial period, the person granted the temporary license must

    Apply for an extension of the temporary license

  • 40

    Which of the following will not be included in the buyers guide

    Specific information about the policy

  • 41

    Which of the following actions does not constitute false advertising ?

    State that dividends are not guaranteed

  • 42

    Which statement best describes agreement as it relates to insurance contracts

    Agreement refers to the mutual understanding and acceptance of the terms and conditions between the insurer and the insured

  • 43

    An insurance agent visits potential climate explains various types of policies the customer displays a lack of interest so the agent guarantees higher dividends that he knows would be possible which term describes what the agent has done

    Misrepresentation

  • 44

    Insurance agents have authorization to represent the company and may exercise this relationship through

    Express authority, implied authority and apparent authority

  • 45

    The manner and/or frequency that the policyowner pays the policy premium is called

    Premium Payment Method

  • 46

    A lender who conditions approval of a loan on the condition that the borrower purchase insurance from that lender may be guilty of

    Coercion

  • 47

    Which type of authority is found in the agents contract

    Expressed

  • 48

    What is the purpose of key person insurance

    To minimize the risk of financial loss caused by the death of a key employee

  • 49

    An insured recently had a home built and insisted on having smoke detectors installed in multiple places in the house what method of handling risk is the insured using

    Reduction

  • 50

    Which of the following indicates the person upon whose life the annuity income amount is determined

    The annuitant

  • 51

    In this state what type of violation is rebating

    Misdemeanor

  • 52

    The person insurance can provide protection for all the following economic losses to a business except

    Pay the benefit to the estate of the insured

  • 53

    Which of the following is not true of the agents implied authority

    It is given to an agent by the insurance company that is not specifically communicated

  • 54

    What does the guaranty association guard against

    Insurer insolvency

  • 55

    Which of the following is consideration on the part of an insurer

    Paying the claim

  • 56

    The manner and or frequency that the policy owner pays the policy premium is called

    premium mode

  • 57

    Which of the following is not a standard exclusion in life insurance policies

    Disability

  • 58

    Which of the following losses would likely be covered under the accidental death

    Death caused by a head-on collision

  • 59

    In terms of contract law a waiver is when someone

    Gives up a known right or privilege

  • 60

    Which of the following indicates the person on whose life the annuity income amount is determined

    The annuitant

  • 61

    When an agent delivered an insurance policy to the insured, he collected the initial premium, as well as a document verifying that the insured had not had any injuries or illnesses since the application date. What is this document called ?

    Statement of Good Health

  • 62

    What is the maximum civil fine a guilty party may pay for a single violation of the Insurance Code?

    $1,000

  • 63

    What is the tax penalty for withdrawing money for annuity prior to age 59 1/2

    10%

  • 64

    Applicants for a resident producer license must meet the requirements except

    Be at least 21 years old

  • 65

    What type of insurance policies provides pure life insurance protection without a savings element

    Permanent

  • 66

    The risk selection and classification process is known as

    Underwriting

  • 67

    What is the cost of coverage based on for group life insurance

    Evidence of insurability is usually not required

  • 68

    If the insured does not receive the statement of policy information at least five days prior to the policy delivery the free period is extended to

    Within 15 days of the application

  • 69

    Which dividend option will increase the death benefit

    Paid-up Additions

  • 70

    For a contract to be enforceable by law the purpose of the contract must be

    Legal and not against public policy

  • 71

    When life insurance proceeds are used to pay inheritance taxes and federal estate taxes it is known as

    Estate Conservation

  • 72

    What effect will the long-term care rider have on the death benefit of a life insurance policy if LTC benefits were paid to the insured

    Reduce the death benefit

  • 73

    What is the exclusion ratio used to determine

    The annuity benefit to be excluded from taxes

  • 74

    In making an annuity recommendation to a consumer the producer must have reasonable grounds to believe

    it is suitable

  • 75

    What happens to the face amount of a whole life policy if the insured reaches the age of 100

    The face amount is paid to the insured

  • 76

    All of the following are allowed practices regarding producers commissions except

    Handling premiums

  • 77

    As an insurer field underwriter a producer has all the following responsibilities

    Soliciting insurance contracts

  • 78

    An agreement that is enforceable by law is known as what kind of contract

    Legal

  • 79

    The policy owner has an option to pledge the life insurance policy as collateral for a bank loan this is called

    A collateral assignment

  • 80

    Purchases a life insurance policy and list his parents as the beneficiaries he is able to change beneficiaries at any type what type of beneficiary designation does this policy

    Revocable

  • 81

    An insured intentionally does not disclose a material fact of on an application for insurance this would be considered

    Concealment

  • 82

    In insurance, the agents have authorization to represent the company and may exercise this relationship through

    Express authority, implied authority and apparent authority

  • 83

    An insurance agent visits potential clients and explains various types of policies the customer displays a lack of interest so the agent guarantees higher dividends that he knows would be possible which term describes the age what the agent has done

    Misrepresentation

  • 84

    Term insurance has which of the following characteristics

    Expires at the end of the policy period

  • 85

    Which of the following types of authority is given to an appointed agent from a company by the agency contract

    Express Authority

  • 86

    In insurance an offer is usually made when

    An applicant submits an application to the insurer

  • 87

    What documentation grants express authority to an agent

    Agent's contract with the principal

  • 88

    Which of the following best describes an insurance company that has been formed under the laws of this state

    Domestic

  • 89

    How will life insurance proceeds that are paid as a lump sum received by the beneficiary

    Free of federal income taxation

  • 90

    The owner of a whole life policy with an accidental death rider dies by suicide after having the policy for 18 months. What is the insurance company's course of action?

    Deny any payment of the death benefit

  • 91

    Key person insurance can provide protection for all of the following economic losses to a business excep

    Pay the benefit to the estate of the insured

  • 92

    A college student will graduate next year his studies have limited his ability to work so he has borrowed funds to pay for his education he would like to start a permanent life insurance program that would cover his debt and still be affordable during the. He is establishing his earning potential and appropriate policy would be

    Modified whole life

  • 93

    How soon must an insurer send a notice of cancellation to an insured prior to terminating a universal life policy

    at least 30 days

  • 94

    Which of the following documents used in the underwriting process contains specific medical details about an applicant

    Attending Physician’s Statement (APS)

  • 95

    Considering the principles of liquidity how would the policy owner use today's cash values in a life insurance policy

    Use it for emergency services

  • 96

    Which of the following is a permissible reason for an insurance company to contest payment of a claim based on statements in the application

    The application contains material misstatements

  • 97

    The Director of Insurance is authorized

    to enforce state laws relating to insurance

  • 98

    Which of the following elements of an insurance contract requires payment of premium

    Consideration

  • 99

    What type of an interest rate is guaranteed in universal life policies

    Contract interest rate

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    問題一覧

  • 1

    A whole life policy that will generate immediate cash value is a

    Single premium whole life

  • 2

    If an agent follows the rules in terms of his agent contract he is exercising his

    Contractual Authority

  • 3

    How is the licenses date of continuing continuing education credit review determined

    By the month and year of their birth

  • 4

    Which of the following statements concerning the medical information bureau is correct

    The MIB provides assistance in underwriting of life insurance

  • 5

    Individual members cover by group life insurance receive

    Certificate of Insurance

  • 6

    The reduction of premium option uses the dividend to reduce

    Next years premium

  • 7

    How long do temporary producers license last without requiring an examination

    180 days

  • 8

    Among the applicants in the same class and life expectancy which of the following factors can be used to determine premium rates

    Occuption

  • 9

    What does the application of contracting of adhesion mean

    A legal agreement that is drafted to one party, but not the other

  • 10

    In the event an annuitant dies during the accumulation period and there is a beneficiary named in the annuity annuity benefits would be paid to the

    The beneficiary

  • 11

    Premiums collected on behalf of the insurance company by an agent will be held in what capacity

    Fiduciary Capacity

  • 12

    Who acts on behalf of the principal

    The agent

  • 13

    The needs approach to calculating the amount of life insurance needed is based on

    The estimate of what would be lost to the family in the event of the premature death of the insured.

  • 14

    A couple purchase a life insurance policy on their newborn baby they are concerned about what would happen if to the policy if either of them were unable to continue making the premium payments due to death of disability which policy writer should agent recommend

    Payor Benefit

  • 15

    Life insurance creates an immediate estate which of the following best explains the statement

    The face value of the policy is payable to the beneficiary upon the death of the insured

  • 16

    Dividends received on participating life insurance policies are

    Not taxable because they are a return of unused premiums

  • 17

    Which of the following could reduce the amount of the death benefit

    Failure to repay the policy loan

  • 18

    How many days notice must an insurer provide to an insured regarding the lapse of a policy due to outstanding loans

    30 days

  • 19

    According to agency law the producer always represents the

    Insurers

  • 20

    A life insurance policy can be backdated to affect a lower premium for up to maximum by how many months

    6 months

  • 21

    Which of the following is not a personal use of life insurance

    An individual buys insurance to fund a buy-sell agreement

  • 22

    In terms of contract law a waiver is when someone

    Gives up a known right or privilege

  • 23

    All of the following are ways to handle risk except

    Avoidance

  • 24

    All the following information needs to be included on an application for life insurance except

    Life insurance with other insureds

  • 25

    Insurance contracts are unilateral and nature what does that mean

    Only one party makes any kind of enforcemenable promise

  • 26

    If an insured dies and it is discovered that the insured misstated their age or gender on the application the life insurance this company will

    Adjust the death benefit to what the premium would have purchased at the actual age or gender

  • 27

    All the following are true of annually renewable term insurance except

    Proof of insurability must be provided at each referral

  • 28

    Partners in a business want to make sure that if one of them were to pass their surviving family will receive a fair value for their portion in the business life insurance arrangement would be most suitable for transitioning the business

    Buy sell Agreement

  • 29

    The family term rider incorporates

    incorporates the spouse term rider along with the children's term rider in a single rider

  • 30

    The guaranteed insurability rider allows the owner to purchase additional amounts of the life insurance without proof of insurability at all of the following except

    Purchase of a new home

  • 31

    Which of the following bears the investment risk in a variable life insurance policy

    The policyowner

  • 32

    How many hours of continuing education are required to maintain a counselors license

    24 hours

  • 33

    All of the following are general requirements of a qualified plan EXCEPT

    The plan must be temporary

  • 34

    Cash value guarantees in a whole life policy are called

    Nonforfeiture values

  • 35

    Which of the following characteristics of a term life insurance

    Expires at the end of the policy period

  • 36

    During policy solicitation an insurer exaggerates the financial condition of one of its competitors and makes it sound worse than it is. This is an example of ?

    Defamation

  • 37

    Which of the following is the primary source of information that ensure uses to evaluate an insured risk for life insurance

    lnsurance Application

  • 38

    Which of the following is true regarding pure life annuity settlement option

    Provides highest monthly benefit

  • 39

    Once a temporary producer's license has expired its initial period, the person granted the temporary license must

    Apply for an extension of the temporary license

  • 40

    Which of the following will not be included in the buyers guide

    Specific information about the policy

  • 41

    Which of the following actions does not constitute false advertising ?

    State that dividends are not guaranteed

  • 42

    Which statement best describes agreement as it relates to insurance contracts

    Agreement refers to the mutual understanding and acceptance of the terms and conditions between the insurer and the insured

  • 43

    An insurance agent visits potential climate explains various types of policies the customer displays a lack of interest so the agent guarantees higher dividends that he knows would be possible which term describes what the agent has done

    Misrepresentation

  • 44

    Insurance agents have authorization to represent the company and may exercise this relationship through

    Express authority, implied authority and apparent authority

  • 45

    The manner and/or frequency that the policyowner pays the policy premium is called

    Premium Payment Method

  • 46

    A lender who conditions approval of a loan on the condition that the borrower purchase insurance from that lender may be guilty of

    Coercion

  • 47

    Which type of authority is found in the agents contract

    Expressed

  • 48

    What is the purpose of key person insurance

    To minimize the risk of financial loss caused by the death of a key employee

  • 49

    An insured recently had a home built and insisted on having smoke detectors installed in multiple places in the house what method of handling risk is the insured using

    Reduction

  • 50

    Which of the following indicates the person upon whose life the annuity income amount is determined

    The annuitant

  • 51

    In this state what type of violation is rebating

    Misdemeanor

  • 52

    The person insurance can provide protection for all the following economic losses to a business except

    Pay the benefit to the estate of the insured

  • 53

    Which of the following is not true of the agents implied authority

    It is given to an agent by the insurance company that is not specifically communicated

  • 54

    What does the guaranty association guard against

    Insurer insolvency

  • 55

    Which of the following is consideration on the part of an insurer

    Paying the claim

  • 56

    The manner and or frequency that the policy owner pays the policy premium is called

    premium mode

  • 57

    Which of the following is not a standard exclusion in life insurance policies

    Disability

  • 58

    Which of the following losses would likely be covered under the accidental death

    Death caused by a head-on collision

  • 59

    In terms of contract law a waiver is when someone

    Gives up a known right or privilege

  • 60

    Which of the following indicates the person on whose life the annuity income amount is determined

    The annuitant

  • 61

    When an agent delivered an insurance policy to the insured, he collected the initial premium, as well as a document verifying that the insured had not had any injuries or illnesses since the application date. What is this document called ?

    Statement of Good Health

  • 62

    What is the maximum civil fine a guilty party may pay for a single violation of the Insurance Code?

    $1,000

  • 63

    What is the tax penalty for withdrawing money for annuity prior to age 59 1/2

    10%

  • 64

    Applicants for a resident producer license must meet the requirements except

    Be at least 21 years old

  • 65

    What type of insurance policies provides pure life insurance protection without a savings element

    Permanent

  • 66

    The risk selection and classification process is known as

    Underwriting

  • 67

    What is the cost of coverage based on for group life insurance

    Evidence of insurability is usually not required

  • 68

    If the insured does not receive the statement of policy information at least five days prior to the policy delivery the free period is extended to

    Within 15 days of the application

  • 69

    Which dividend option will increase the death benefit

    Paid-up Additions

  • 70

    For a contract to be enforceable by law the purpose of the contract must be

    Legal and not against public policy

  • 71

    When life insurance proceeds are used to pay inheritance taxes and federal estate taxes it is known as

    Estate Conservation

  • 72

    What effect will the long-term care rider have on the death benefit of a life insurance policy if LTC benefits were paid to the insured

    Reduce the death benefit

  • 73

    What is the exclusion ratio used to determine

    The annuity benefit to be excluded from taxes

  • 74

    In making an annuity recommendation to a consumer the producer must have reasonable grounds to believe

    it is suitable

  • 75

    What happens to the face amount of a whole life policy if the insured reaches the age of 100

    The face amount is paid to the insured

  • 76

    All of the following are allowed practices regarding producers commissions except

    Handling premiums

  • 77

    As an insurer field underwriter a producer has all the following responsibilities

    Soliciting insurance contracts

  • 78

    An agreement that is enforceable by law is known as what kind of contract

    Legal

  • 79

    The policy owner has an option to pledge the life insurance policy as collateral for a bank loan this is called

    A collateral assignment

  • 80

    Purchases a life insurance policy and list his parents as the beneficiaries he is able to change beneficiaries at any type what type of beneficiary designation does this policy

    Revocable

  • 81

    An insured intentionally does not disclose a material fact of on an application for insurance this would be considered

    Concealment

  • 82

    In insurance, the agents have authorization to represent the company and may exercise this relationship through

    Express authority, implied authority and apparent authority

  • 83

    An insurance agent visits potential clients and explains various types of policies the customer displays a lack of interest so the agent guarantees higher dividends that he knows would be possible which term describes the age what the agent has done

    Misrepresentation

  • 84

    Term insurance has which of the following characteristics

    Expires at the end of the policy period

  • 85

    Which of the following types of authority is given to an appointed agent from a company by the agency contract

    Express Authority

  • 86

    In insurance an offer is usually made when

    An applicant submits an application to the insurer

  • 87

    What documentation grants express authority to an agent

    Agent's contract with the principal

  • 88

    Which of the following best describes an insurance company that has been formed under the laws of this state

    Domestic

  • 89

    How will life insurance proceeds that are paid as a lump sum received by the beneficiary

    Free of federal income taxation

  • 90

    The owner of a whole life policy with an accidental death rider dies by suicide after having the policy for 18 months. What is the insurance company's course of action?

    Deny any payment of the death benefit

  • 91

    Key person insurance can provide protection for all of the following economic losses to a business excep

    Pay the benefit to the estate of the insured

  • 92

    A college student will graduate next year his studies have limited his ability to work so he has borrowed funds to pay for his education he would like to start a permanent life insurance program that would cover his debt and still be affordable during the. He is establishing his earning potential and appropriate policy would be

    Modified whole life

  • 93

    How soon must an insurer send a notice of cancellation to an insured prior to terminating a universal life policy

    at least 30 days

  • 94

    Which of the following documents used in the underwriting process contains specific medical details about an applicant

    Attending Physician’s Statement (APS)

  • 95

    Considering the principles of liquidity how would the policy owner use today's cash values in a life insurance policy

    Use it for emergency services

  • 96

    Which of the following is a permissible reason for an insurance company to contest payment of a claim based on statements in the application

    The application contains material misstatements

  • 97

    The Director of Insurance is authorized

    to enforce state laws relating to insurance

  • 98

    Which of the following elements of an insurance contract requires payment of premium

    Consideration

  • 99

    What type of an interest rate is guaranteed in universal life policies

    Contract interest rate