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Primerica (life Insurance basics) Questions and Answers 100% Solved
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Primerica (life Insurance basics)
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Primerica (life Insurance basics)2
Signing and dating a delivery receipt for a life insurance policy helps to establish all of
the following timeframes EXCEPT - answer The Grace Period.
Joe, Larry, and Curly own a small business. They have made a legal arrangement
which states that if one of them dies or becomes disabled, the other two will be able to
buy the partner's shares. Which term best describes this arrangement? - answer
Business Continuation
The responsibility of making certain that an application for insurance is filled out
completely, correctly, and to the best of his or her knowledge is the responsibility of
whom? - answer the producer (agent)
What is the purpose of the buyer's guide? - answerTo allow the consumer to compare
the costs of different policies
Which of the following would NOT fall into the category of costs associated with death?
- answerThe expense of a vacation for surviving family members
Which is generally true regarding insureds who have been classified as preferred risks?
- answerTheir premiums are lower.
Which of the following statements regarding Business Overhead Expense policies is
NOT true? - answerBenefits are usually limited to six months.
Which of the following would be least likely to be considered a legitimate need that
would be paid by insurance proceeds? - answerVacation travel expenses
Part 2 of the application for life insurance provides questions regarding all of the
following EXCEPT - answerOther insurance coverages.
Regarding the taxation of Business Overhead policies, - answerPremiums are
deductible, and benefits are taxed.
Which is the primary source of information used for insurance underwriting? -
answerApplication
In the underwriting process, it was determined that the applicant for life insurance is in
poor health and has some dangerous habits. Which of the following is true concerning
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