PRIMERICA 7

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Variable insurance and variable annuities are regulated by

SEC FINRA and departments of insurance

Which of the following riders pays a beneficiary a death benefit that is double or triple the face amount if the insureds death was cause by an accident as defined in the policy

an accidental death rider

Which of the following would not be eligible for coverage under key-person

the owner of a shop

What is the most common name for a single policy that is designed to insure two or more lives with a standard premium, and that pays the death benefit upon the first death

joint life

In order to reinstate a life insurance policy the insured must do all of the following EXCEPT

pay next years premiums in advance

In which of the following circumstances would a contract between an insurer and a prospective insured be legal

the applicant has a prior felony conviction

Which of the following is not true regarding insurance consultants

they may own shares in the insurers they represent

According to the Fair Credit Reporting act, all of the following statements are true EXCEPT

if an applicant is declined for an insurance policy, he has no right to know what was in the report

If a person, firm , association, or corporation conducts insurance business in New York without a Certificate of Authority the penalty for the first violation is

1,000

Annuities certain limit the amount paid by the annuitant to a certain fixed

period or fixed amount

Under which of the following conditions would life insurance proceeds be taxable by the federal government

if there is a transfer for value

Which of the following policies can be described as a flexible premium adjustable life policy

universal life

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

it is paid to the beneficiary in full

Which of the following would be considered a peril

fire

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

predicted needs of the family after the premature death of the insured


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