Primerica

What is an example of an insurer participating in the unfair trade practice of discrimination

Charging the insured a higher premium based on their race

if there are no authorized insurers for a specific type of coverage in this state, would a producer be allowed to obtain insurance through an unauthorized insurer?

Yes

Where are premiums from fixed annuities invested?

a general account

an insurer who transacts insurance in this state but whose articles of incorporation are registered in Canada is considered what type of insurer?

alien

a policy matures and pays the face amount if the insured lives to a specified date. What does this best describe?

an endowment policy

What insurance would allow and husband and spouse with a new child allow the couple to insure the child for a limited period of time at a specific amount?

children's term rider

What would the insurance company do if the insured under a whole life policy with an accidental death rider intentionally kills himself a couple of months after purchasing the policy?

deny the death benefit, but refund the premium

A producers license can be suspended or revoked for what reasons?

failure to pay child support, offering rebates while transacting insurance, failure to pay income taxes. it cannot be revoked due to failure to generate commission

What condition would life insurance proceeds be taxable by the federal government?

if there is a transfer to value

is this statement concerning business operations in a branch office in New Jersey correct or incorrect? "A branch office certificate expires in 2 years from the date of filing, regardless of the producer's own license expiration"

incorrect

Who is allowed to catch-up contributions

individuals age 50 or older

all advertisements regardless of their source of creation are the responsibility of what

insurer

What does state life and health insurance guaranty association guard against?

insurer insolvency

What does it mean if a retirement plan or annuity is qualified?

it satisfies IRS requirements fir favorable tax treatments

if an annuitant pays the annuity premium on the 14th of each month what is the arrangement known as?

level

What information is needed on an application for life insurance?

medical information about the applicant, life insurance with other insurances, the agent's statement if applicable. Health insurance policies in force are not needed

What factor can be used to influence premium rates of people among the same class and life expectancy?

occupation

When the owner of a participating whole life policy uses the dividend to provide more life insurance coverage. Which dividend options is being used?

paid-up additions

When must the applicant be notified of procedure that uses HIV testing as a part of its underwriting?

prior to performance of the test

the key person insurance can provide for which of the following economic losses to a business?

provide deferred compensation retirement benefit if the insured key person survives to retirement, fund the expense of finding a suitable replacement following the death of an employee, fund the cost of training a current employee to perform the duties of a deceased employee

In a replacement situation what are prohibited practices?

submitting a list of replaced policies only after the new policy is delivered, not providing the client with the sales materials used i the solicitation, not listing an existing policy that will be surrendered on the new policy application.. Borrowing 50% of a policy's cash value to fund a new life insurance contract is prohibited

What entities is considered the Principal

the insurer issuing a principal

Who has the right to change a settlement option in a life insurance policy?

the policy owner at anytime during the life of the insured

What type of insurance is investment based, has a level fixed premium , and a non-guaranteed cash value?

variable whole life

If a policy contains an unconditional refund provision of at least 10 days. The buyer's guide and policy summary can be delivered at what latest possible point?

when the policy is delivered