PRIMERICA 14

In this state a temporary license may be issued for all of the following reasons EXCEPT

an agents retirement

What characteristic makes whole life permanent protection

coverage until death or age 100

Credit Life insurance

insures the life of a debtor

Which of the following best describes the aleatory nature of an insurance contract

exchange of unequal values

The person who, for compensation, solicits, negotiates, or offers to negotiate a life settlement contract is the

life settlement broker

In forming an insurance contract, when does acceptance usually occur?

when an insurers underwriter approves coverage

Which type of retirement account allows contributions to continue beyond age 70½ and does not force distributions to start at age 70½?

Roth IRA

All of the following statements are true regarding group insurance EXCEPT

participants in the policy each receive a policy

What type of insurance would be used for a Return of Premium rider

increasing term

Which of the following is true regarding the spendthrift clause in life insurance policies

it can protect the policy proceeds from creditors f the beneficiary

Variable Life insurance is based on what kind of premium

level fixed

Which of the following is NOT true regarding the Life with Guaranteed Minimum annuity settlement option?

it does not guarantee that the entire principal amount will be paid out

What is the name of a clause that is included in a policy that limits or eliminates the death benefit if the insured dies as a result of war or while serving in the military?

military service or war

According to the Insurance Frauds Prevention Act, will the person who suspects a fraudulent transaction be penalized for reporting it to the Superintendent

no, as long as the cat is reported in good faith

All of the following are characteristics of group life insurance EXCEPT

proceeds are determined by the age, sex, and occupation of each individual certificate holder