PSI Life, Accident & Health Exam ✦ Full Practice Questions, Answers & Study Guide _ Insurance Licensing
PagePrep
1 2026-04-01
PSI Life, Accident & Health
Exam ✦ Full Practice
Questions, Answers &
Study Guide | Insurance
Licensing Prep
1 of 74 Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
PSI Life,1Accident & Health Exam ✦ Full Practice Questions, Answers & Study Guide _ Insurance Licensing Prep.pdf
,PSI - LIFE, ACCIDENT, AND HEALTH - FULL Page 2 2026-04-01
Terms in this set (75)
What happens under a misstatement of age clause All amounts payable under this policy shall be what the premium
on a disability policy? originally would have purchased and been paid at the correct age.
1.
The policy would be terminated and all premiums
would be returned to the policy owner.
2.
The policy would be terminated and all premiums
would be retained by the insurance company.
3.
All amounts payable under this policy shall be what
the premium originally would have purchased and
been paid at the correct age.
4.
Prior to any benefits being payable, the insured
shall rate and pay the difference in premiums based
upon his correct age
2 of 74 2 PSI - LIFE, ACCIDENT, AND HEALTH - FULL.pdf
,PSI - LIFE, ACCIDENT, AND HEALTH - FULL Page 3 2026-04-01
Whether admitted or nonadmitted, how does a A "foreign" insurer is organized under the laws of another state within the
"foreign" insurer differ from an "alien" or "domestic" United States.
insurer?
1.
A "foreign" insurer is organized under the laws of
another country.
2.
A "foreign" insurer is prohibited from transacting
insurance with the State of California.
3.
A "foreign" insurer is organized under the laws of
another state within the United States.
4.
A "foreign" insurer transacts business in multiple
languages not spoken in the United States.
3 of 74 3 PSI - LIFE, ACCIDENT, AND HEALTH - FULL.pdf
, PSI - LIFE, ACCIDENT, AND HEALTH - FULL Page 4 2026-04-01
Which of the following is TRUE regarding Acting as an agent for a nonadmitted insurer is considered a
nonadmitted insurers? misdemeanor.
1.
A felony is committed by the agent in the state of a
nonadmitted insurer.
2.
Acting as an agent for a nonadmitted insurer is
considered a misdemeanor.
3.
The agent shall pay $1,000 in addition to any fees
involving the commission of a felony.
4.
Specific penalties shall be determined by the
Insurance Commissioner on a case by case basis.
4 of 74 4 PSI - LIFE, ACCIDENT, AND HEALTH - FULL.pdf
PagePrep
1 2026-04-01
PSI Life, Accident & Health
Exam ✦ Full Practice
Questions, Answers &
Study Guide | Insurance
Licensing Prep
1 of 74 Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
PSI Life,1Accident & Health Exam ✦ Full Practice Questions, Answers & Study Guide _ Insurance Licensing Prep.pdf
,PSI - LIFE, ACCIDENT, AND HEALTH - FULL Page 2 2026-04-01
Terms in this set (75)
What happens under a misstatement of age clause All amounts payable under this policy shall be what the premium
on a disability policy? originally would have purchased and been paid at the correct age.
1.
The policy would be terminated and all premiums
would be returned to the policy owner.
2.
The policy would be terminated and all premiums
would be retained by the insurance company.
3.
All amounts payable under this policy shall be what
the premium originally would have purchased and
been paid at the correct age.
4.
Prior to any benefits being payable, the insured
shall rate and pay the difference in premiums based
upon his correct age
2 of 74 2 PSI - LIFE, ACCIDENT, AND HEALTH - FULL.pdf
,PSI - LIFE, ACCIDENT, AND HEALTH - FULL Page 3 2026-04-01
Whether admitted or nonadmitted, how does a A "foreign" insurer is organized under the laws of another state within the
"foreign" insurer differ from an "alien" or "domestic" United States.
insurer?
1.
A "foreign" insurer is organized under the laws of
another country.
2.
A "foreign" insurer is prohibited from transacting
insurance with the State of California.
3.
A "foreign" insurer is organized under the laws of
another state within the United States.
4.
A "foreign" insurer transacts business in multiple
languages not spoken in the United States.
3 of 74 3 PSI - LIFE, ACCIDENT, AND HEALTH - FULL.pdf
, PSI - LIFE, ACCIDENT, AND HEALTH - FULL Page 4 2026-04-01
Which of the following is TRUE regarding Acting as an agent for a nonadmitted insurer is considered a
nonadmitted insurers? misdemeanor.
1.
A felony is committed by the agent in the state of a
nonadmitted insurer.
2.
Acting as an agent for a nonadmitted insurer is
considered a misdemeanor.
3.
The agent shall pay $1,000 in addition to any fees
involving the commission of a felony.
4.
Specific penalties shall be determined by the
Insurance Commissioner on a case by case basis.
4 of 74 4 PSI - LIFE, ACCIDENT, AND HEALTH - FULL.pdf
