Primerica Practice Exam With 100% Correct Answers Latest Update 2024 Guaranteed Success, Exams of Nursing

Download Primerica Practice Exam With 100% Correct Answers Latest Update 2024 Guaranteed Success and more Exams Nursing in PDF only on Docsity! 1 [Date] Primerica Practice Exam With 100% Correct Answers Latest Update 2024 Guaranteed Success Which of the following statements regarding deferred compensation funds is INCORRECT? - ✓✓✓A) they are usually qualified plans. All of the following statements concerning dividends are true EXCEPT . - ✓✓✓d) Dividend amounts are guaranteed in the policy. Dividends cannot be guaranteed. In insurance transactions, fiduciary responsibility means - ✓✓✓a) Handling insurer funds in a trust capacity. An agent's fiduciary responsibility includes handling insurer funds in a trust capacity. As part of the continuing education requirement, what is the minimum number of hours of continuing education specific to long-term care insurance to be completed prior to each license renewal? - ✓✓✓8 hrs. 2 [Date] For licensees issued a license after January 1, 1992, 8 hours of continuing education specific to long-term care insurance are required for each license period. Any inducement offered to the insured in the sale of an insurance policy that is not specified in the policy is an unlawful practice known as - ✓✓✓c) Rebating. When an employer offers to give an employee a wage increase in the amount of the premium on a new life insurance policy, this is called a(n) - ✓✓✓Executive bonus. All of the following are TRUE statements regarding the accumulation at interest option EXCEPT - ✓✓✓The interest are not taxable since it remains inside the insurance policy. A set of legal or regulatory conditions that affect an insurer's ability to collect premiums commensurate with the level of risk incurred would be considered a (n): - ✓✓✓Legal hazard. To sell variable life insurance policies, an agent must receive all of the following EXCEPT - ✓✓✓SEC registration. 5 [Date] what charge will the agent face? - ✓✓✓No charges; the Insurance Code gives the agent legal immunity. The title page of the policy provides a summary of the benefits and coverages provided by the policy. All of the following information is included in the title page EXCEPT - ✓✓✓The insured's beneficiaries. The rider in a whole life policy that allows the company to forgo collecting the premium if the insured is disabled is called - ✓✓✓Waiver of premium. Which of the following is another term for the accumulation period of an annuity? - ✓✓✓Pay-in period Which of the following insureds has a right to cancel an individual life policy within 30 days? - ✓✓✓Insured’s 60 years of age of older Every policy of individual life insurance must include a notice of right to cancel the policy, stating the specific time frame for the free-look period. Once the insured has cancelled the policy, within 6 [Date] how many days must the insurer refund all premiums and policy fees? - ✓✓✓30 days All of the following are dividend options EXCEPT - ✓✓✓Fixed- period installments. The premium of a survivorship life policy compared with that of a joint life policy would be - ✓✓✓Lower. What qualifies an individual to contribute to an IRA? - ✓✓✓Earned income