Primerica Life Exam (State)with Qualified Solutions
The McCarran Act stated that the federal government would not regulate insurance as
long as an adequate job of regulating the industry was done by the:
a. Counties
b. Federal Government
c. Insurers in a state
d. States -Correct Ans-?
Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
a. False advertising
b. Defamation
c. Coercion
d. Misrepresentation -Correct Ans-?
A "certification of license status" report can be run on any currently licensed New Jersey
producer, but can only contain information on formal disciplinary actions taken within
the past
a. 7 years.
b. 10 years.
c. 6 months.
d. 4 years. -Correct Ans-?
,Which of the following must an insurer obtain in order to transact insurance within a
given state?
a. Business entity license
b. Insurer's license
c. Certificate of authority
d. Producer's certificate -Correct Ans-c
Why is an equity indexed annuity considered to be a fixed annuity?
a. It is not tied to an index like the S&P 500.
b. It has a guaranteed minimum interest rate.
c. It has modest investment potential.
d. It has a fixed rate of return. -Correct Ans-?
In comparison to consumer reports, which of the following describes a unique
characteristic of investigative consumer reports?
a. The customer has no knowledge of this action.
b. The customer's associates, friends, and neighbors provide the report's data.
c. They provide additional information from an outside source about a particular risk.
d. They provide information about a customer's character and reputation. -Correct
Ans-?
The company owes premium money to the insured. The insurer gave the funds to the
producer to return to the insured. Within how many days must the producer pay the
insured?
, a. 5
b. 10
c. 14
d. 30 -Correct Ans-a
The Waiver of Cost of Insurance rider is found in what type of insurance?
a. Joint and Survivor
b. Juvenile Life
c. Universal Life
d. Whole Life -Correct Ans-c
If the policyowner, the insured, and the beneficiary under a life insurance policy are
three different people, who has the ownership rights?
a. The insured and the policyowner
b. Beneficiary
c. Insured
d. Policyowner -Correct Ans-?
Which of the following is an example of a producer being involved in an unfair trade
practice of rebating?
a. Inducing the insured to drop a policy in favor of another one when it's not in the
insured's best interest
The McCarran Act stated that the federal government would not regulate insurance as
long as an adequate job of regulating the industry was done by the:
a. Counties
b. Federal Government
c. Insurers in a state
d. States -Correct Ans-?
Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
a. False advertising
b. Defamation
c. Coercion
d. Misrepresentation -Correct Ans-?
A "certification of license status" report can be run on any currently licensed New Jersey
producer, but can only contain information on formal disciplinary actions taken within
the past
a. 7 years.
b. 10 years.
c. 6 months.
d. 4 years. -Correct Ans-?
,Which of the following must an insurer obtain in order to transact insurance within a
given state?
a. Business entity license
b. Insurer's license
c. Certificate of authority
d. Producer's certificate -Correct Ans-c
Why is an equity indexed annuity considered to be a fixed annuity?
a. It is not tied to an index like the S&P 500.
b. It has a guaranteed minimum interest rate.
c. It has modest investment potential.
d. It has a fixed rate of return. -Correct Ans-?
In comparison to consumer reports, which of the following describes a unique
characteristic of investigative consumer reports?
a. The customer has no knowledge of this action.
b. The customer's associates, friends, and neighbors provide the report's data.
c. They provide additional information from an outside source about a particular risk.
d. They provide information about a customer's character and reputation. -Correct
Ans-?
The company owes premium money to the insured. The insurer gave the funds to the
producer to return to the insured. Within how many days must the producer pay the
insured?
, a. 5
b. 10
c. 14
d. 30 -Correct Ans-a
The Waiver of Cost of Insurance rider is found in what type of insurance?
a. Joint and Survivor
b. Juvenile Life
c. Universal Life
d. Whole Life -Correct Ans-c
If the policyowner, the insured, and the beneficiary under a life insurance policy are
three different people, who has the ownership rights?
a. The insured and the policyowner
b. Beneficiary
c. Insured
d. Policyowner -Correct Ans-?
Which of the following is an example of a producer being involved in an unfair trade
practice of rebating?
a. Inducing the insured to drop a policy in favor of another one when it's not in the
insured's best interest
