California PSI Life Insurance Exam with Questions and Answers

California PSI Life Insurance Exam with Questions and Answers When is a representation false? ANSWER when the facts fail to correspond with its assertions or stipulations Which of the following is TRUE regarding the use of fictitious names for business? ANSWER The actual and fictitious business names must be registered with the commissioner Which is an ACCURATE statement regarding dependent coverage under a group insurance policy? ANSWER The coverage must not exceed more than 100 percent of the coverage for the insured employee According to CIC Section 1711, an organization ceases to exist as an entity eligible to hold a license EXCEPT ANSWER upon the termination of all contracts As long as employment continues, which is the ONLY reason the validity of a group life insurance policy can be contested? ANSWER Non-payment of premiums after the policy has bee in force for two years. All of the following are TRUE about the rules regarding the sale of life insurance and annuities to seniors age 65 or older EXCEPT ANSWER The agent, broker, or insurer is required to show a copy of their insurance license with name, address, and phone number when conducting business in the senior home