Primerica Life Insurance Focused Exam Questions and Answers 2023 The paid-up addition option uses the dividend - Correct Answer To purchase a smaller amount of the same type of insurance as the original policy.An applicant for insurance is requesting more information from her agent about a claim that is currently being settled. Within what time period must the agent respond? - Correct Answer 15 days Which of the following is NOT a legitimate use of annuities by businesses? - Correct Answer Creating a tax shelter In determining how material a piece of information is to each party of a contract, the value is not determined by the event itself, but solely by which of the following? - Correct Answer Influence this information would have in forming an estimate of the advantages or the disadvantages of the contract.Which of the following statements concerning buy-sell agreements is true? - Correct Answer Buy-sell agreements are normally funded with a life insurance policy.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) - Correct Answer Executive bonus.When a life insurance policy stipulates that the beneficiary will receive payments in specified installments or for a specified number of years, what provision prevents the beneficiary from changing or borrowing from the planned installments? - Correct Answer Spendthrift provision When an insured under a life insurance policy died, the designated beneficiary received the face amount of the policy, as well as a refund of all of the premiums paid. Which rider is attached to the policy? - Correct Answer Return of premium An insurance policy that only requires a payment of premium at its inception, provides insurance protection for the life of the insured, and matures at the insured's age 100 is called - Correct Answer Single premium whole life.To which of the following products does the Replacement Regulation apply? - Correct Answer Whole life insurance An employee will be taxed on the cost of group life insurance paid by the employer if the amount of coverage - Correct Answer $50,000
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