CA PSI-LIFE, ACCIDENT, AND HEALTH OR
SICKNESS EXAM 2024 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) A+
GRADE
How does an "admitted" person differ from an "nonadmitted" person, as it pertains
to insurance? - (answers)An "admitted" person has the right to transact insurance
business within the state, while a "nonadmitted" person is not entitled to this
action.
Which of the following provisions of free insurance offered as an incentive to
purchase or rent property is TRUE? - (answers)It requires a separate charge or fee.
Which statement accurately describes de-mutualization? - (answers)a mutual
insurance company that decides to convert to a stock company
When should an insurer provide for the continuous operation of a unit or division
to investigate possible fraudulent claims? - (answers)If admitted to do business in
this state, except those otherwise exempted.
A claimant can be any of the following EXCEPT - (answers)a person who is
conducting an investigation of a claim on behalf of an insurer.
When can a person act as an agent of the insurer? - (answers)when the insurer has
filed with the commissioner a notice of appointment
When working on behalf of an insurer for which they are not specifically
appointed, what may a licensed agent do? - (answers)present a proposal for
insurance and transmit an application to the insurer
,What does concealment, whether intentional or unintentional, entitle the injured
party to? - (answers)The insurer may rescind the contract on the basis of
misrepresentation, concealment, or fraud by the insured.
All of the following define insolvency EXCEPT - (answers)revocation of
certificate of authority by the commissioner.
Which of the following is TRUE regarding continuing education requirements of
an agent or broker? - (answers)Any licensee shall satisfactorily complete 24 hours
of instruction prior to license renewal.
Which of the following actions is considered part of the insurance sales process? -
(answers)Transaction of matters subsequent to execution of the contract and
arising out of it.
All the following are requirements for an agent who advertises and transacts
business on the Internet EXCEPT - (answers)his or her most recent license and
appointment date.
A person who does NOT hold a valid license may do which of the following -
(answers)examine contracts of insurance.
As used in the insurance code, the word "shall" is mandatory and the word "may"
is permissive EXCEPT - (answers)unless otherwise apparent from the context.
, Which of the following is TRUE regarding the use of fictitious names for
business? - (answers)The actual and fictitious business names must be registered
with the commissioner.
It is unlawful to do any of the following EXCEPT - (answers)make or cause to
made a knowingly false or fraudulent or material representation for the purpose of
encouraging an injured worker to claim benefits.
An insurance agent is a person who transacts all of the following types of
insurance EXCEPT - (answers)life insurance.
Which of the following is TRUE regarding nonadmitted insurers? -
(answers)Acting as an agent for a nonadmitted insurer is considered a
misdemeanor.
According to CIC Section 1711, an organization ceases to exist as an entity eligible
to hold a license EXCEPT - (answers)upon the termination of all contracts.
What is a solicitor employed to do for a policy other than life? - (answers)To aid a
property and casualty agent or broker in transacting insurance.
Which of the following is the method wherein a contract of insurance is finalized
as relates to the sales process? - (answers)Execution of a contract of insurance
When may a surplus line broker solicit and place insurance for a home state
insured with a nonadmitted insurer? - (answers)If the same insurance coverage
cannot be procured from an admitted insurer.
SICKNESS EXAM 2024 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) A+
GRADE
How does an "admitted" person differ from an "nonadmitted" person, as it pertains
to insurance? - (answers)An "admitted" person has the right to transact insurance
business within the state, while a "nonadmitted" person is not entitled to this
action.
Which of the following provisions of free insurance offered as an incentive to
purchase or rent property is TRUE? - (answers)It requires a separate charge or fee.
Which statement accurately describes de-mutualization? - (answers)a mutual
insurance company that decides to convert to a stock company
When should an insurer provide for the continuous operation of a unit or division
to investigate possible fraudulent claims? - (answers)If admitted to do business in
this state, except those otherwise exempted.
A claimant can be any of the following EXCEPT - (answers)a person who is
conducting an investigation of a claim on behalf of an insurer.
When can a person act as an agent of the insurer? - (answers)when the insurer has
filed with the commissioner a notice of appointment
When working on behalf of an insurer for which they are not specifically
appointed, what may a licensed agent do? - (answers)present a proposal for
insurance and transmit an application to the insurer
,What does concealment, whether intentional or unintentional, entitle the injured
party to? - (answers)The insurer may rescind the contract on the basis of
misrepresentation, concealment, or fraud by the insured.
All of the following define insolvency EXCEPT - (answers)revocation of
certificate of authority by the commissioner.
Which of the following is TRUE regarding continuing education requirements of
an agent or broker? - (answers)Any licensee shall satisfactorily complete 24 hours
of instruction prior to license renewal.
Which of the following actions is considered part of the insurance sales process? -
(answers)Transaction of matters subsequent to execution of the contract and
arising out of it.
All the following are requirements for an agent who advertises and transacts
business on the Internet EXCEPT - (answers)his or her most recent license and
appointment date.
A person who does NOT hold a valid license may do which of the following -
(answers)examine contracts of insurance.
As used in the insurance code, the word "shall" is mandatory and the word "may"
is permissive EXCEPT - (answers)unless otherwise apparent from the context.
, Which of the following is TRUE regarding the use of fictitious names for
business? - (answers)The actual and fictitious business names must be registered
with the commissioner.
It is unlawful to do any of the following EXCEPT - (answers)make or cause to
made a knowingly false or fraudulent or material representation for the purpose of
encouraging an injured worker to claim benefits.
An insurance agent is a person who transacts all of the following types of
insurance EXCEPT - (answers)life insurance.
Which of the following is TRUE regarding nonadmitted insurers? -
(answers)Acting as an agent for a nonadmitted insurer is considered a
misdemeanor.
According to CIC Section 1711, an organization ceases to exist as an entity eligible
to hold a license EXCEPT - (answers)upon the termination of all contracts.
What is a solicitor employed to do for a policy other than life? - (answers)To aid a
property and casualty agent or broker in transacting insurance.
Which of the following is the method wherein a contract of insurance is finalized
as relates to the sales process? - (answers)Execution of a contract of insurance
When may a surplus line broker solicit and place insurance for a home state
insured with a nonadmitted insurer? - (answers)If the same insurance coverage
cannot be procured from an admitted insurer.
