PRIMERICA 7
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