PSI Life, Accident, and Health Exam
Questions with Correct Answers |
Practice Questions | Graded A
• How long after being entitled to disability benefits will an individual
be eligible to receive Medicare benefits? Answer: 2 years
• What is the return of premium rider? Answer: an increasing amount of
term insurance that always equals the total of premiums paid up to the
current point
• In a home healthcare benefit, all of the following are eligible expenses
EXCEPT Answer: blood transfusions
• All of the following are classifications of risk EXCEPT Answer: non-
nicotine
• Which of the following is exempted from the incontestability provision
in insurance policies? Answer: fraudulent misstatements
• Which of the following is characteristic of a non-qualified plan?
Answer: plan does not meet federal guidelines for tax benefits
, • What does it mean if a health policy is conditionally renewable?
Answer: Insurer may elect NOT to renew only under conditions
specified in the policy.
• During which period of a Disability Income Policy is coverage
effective but during which no benefits will be paid under the policy?
Answer: probationary period
• What specific new procedures does the USA Patriot Act require of
insurance companies? Answer: Establish an anti-money laundering
program
• A consumer report used to determine eligibility for insurance may
include all of the following EXCEPT Answer: medical underwriting
exam.
• All of the following are TRUE regarding incomplete applications
EXCEPT Answer: the incomplete application can be accepted with the
missing information added later.
• Compared to basic hospital, medical and surgical policies, which type
of insurance provides broader coverage, fewer gaps, higher individual
benefits, and higher policy maximums? Answer: major medical
insurance
Questions with Correct Answers |
Practice Questions | Graded A
• How long after being entitled to disability benefits will an individual
be eligible to receive Medicare benefits? Answer: 2 years
• What is the return of premium rider? Answer: an increasing amount of
term insurance that always equals the total of premiums paid up to the
current point
• In a home healthcare benefit, all of the following are eligible expenses
EXCEPT Answer: blood transfusions
• All of the following are classifications of risk EXCEPT Answer: non-
nicotine
• Which of the following is exempted from the incontestability provision
in insurance policies? Answer: fraudulent misstatements
• Which of the following is characteristic of a non-qualified plan?
Answer: plan does not meet federal guidelines for tax benefits
, • What does it mean if a health policy is conditionally renewable?
Answer: Insurer may elect NOT to renew only under conditions
specified in the policy.
• During which period of a Disability Income Policy is coverage
effective but during which no benefits will be paid under the policy?
Answer: probationary period
• What specific new procedures does the USA Patriot Act require of
insurance companies? Answer: Establish an anti-money laundering
program
• A consumer report used to determine eligibility for insurance may
include all of the following EXCEPT Answer: medical underwriting
exam.
• All of the following are TRUE regarding incomplete applications
EXCEPT Answer: the incomplete application can be accepted with the
missing information added later.
• Compared to basic hospital, medical and surgical policies, which type
of insurance provides broader coverage, fewer gaps, higher individual
benefits, and higher policy maximums? Answer: major medical
insurance
