PSI: LIFE, ACCIDENT, AND HEALTH PRACTICE
EXAM / Exam / Actual Questions & Certified
Solutions 2025/2026.
What happens under a misstatement of age clause on a disability policy?
1.
The policy would be terminated and all premiums would be returned to the
policy owner.
2.
A claimant can be any of the following EXCEPT
1.
any person who asserts a right of recovery under a surety bond.
2.
a person who is conducting an investigation of a claim on behalf of an insurer.
3.
any person authorized by operation of law to represent the claimant.
4.
an attorney. - answer-a person who is conducting an investigation of a claim on
behalf of an insurer
,Which is an INACCURATE statement regarding coverage for domestic
partnerships?
1.
A group health policy shall provide equal coverage for registered domestic
partners.
2.
A policyholder may not require that a domestic partnership be registered to
qualify for coverage.
3.
A policy shall not cover a domestic partner if it is unequal to the coverage
provided to the spouse of an employee, insured, or policyholder.
4.
Equal coverage shall be offered to the registered domestic partner of an
employee, insured, or policyholder in terms as those provided to a spouse. -
answer-A policyholder may not require that a domestic partnership be
registered to qualify for coverage.
Concealment, whether intentional or unintentional, entitles the injured party
to?
1.
Modify insurance.
2.
Rescind insurance.
3.
Supplemental benefits.
4.
,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 - answer-All amounts
payable under this policy shall be what the premium originally would have
purchased and been paid at the correct age.
Whether admitted or nonadmitted, how does a "foreign" insurer differ from an
"alien" or "domestic" 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. - answer-A "foreign" insurer is organized under the laws of
another state within the United States.
Which of the following is TRUE regarding nonadmitted insurers?
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. - answer-Acting as an agent for a nonadmitted insurer is
considered a misdemeanor.
What happens if an owner requests an immediate investment of monies in a
variable annuity policy be returned during the 30 day cancellation period?
1.
The owner shall forfeit any money invested.
2.
The owner shall receive the market value at the time of the cancellation.
3.
The owner shall receive a refund of premium but nothing earned during
cancellation period.
EXAM / Exam / Actual Questions & Certified
Solutions 2025/2026.
What happens under a misstatement of age clause on a disability policy?
1.
The policy would be terminated and all premiums would be returned to the
policy owner.
2.
A claimant can be any of the following EXCEPT
1.
any person who asserts a right of recovery under a surety bond.
2.
a person who is conducting an investigation of a claim on behalf of an insurer.
3.
any person authorized by operation of law to represent the claimant.
4.
an attorney. - answer-a person who is conducting an investigation of a claim on
behalf of an insurer
,Which is an INACCURATE statement regarding coverage for domestic
partnerships?
1.
A group health policy shall provide equal coverage for registered domestic
partners.
2.
A policyholder may not require that a domestic partnership be registered to
qualify for coverage.
3.
A policy shall not cover a domestic partner if it is unequal to the coverage
provided to the spouse of an employee, insured, or policyholder.
4.
Equal coverage shall be offered to the registered domestic partner of an
employee, insured, or policyholder in terms as those provided to a spouse. -
answer-A policyholder may not require that a domestic partnership be
registered to qualify for coverage.
Concealment, whether intentional or unintentional, entitles the injured party
to?
1.
Modify insurance.
2.
Rescind insurance.
3.
Supplemental benefits.
4.
,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 - answer-All amounts
payable under this policy shall be what the premium originally would have
purchased and been paid at the correct age.
Whether admitted or nonadmitted, how does a "foreign" insurer differ from an
"alien" or "domestic" 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. - answer-A "foreign" insurer is organized under the laws of
another state within the United States.
Which of the following is TRUE regarding nonadmitted insurers?
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. - answer-Acting as an agent for a nonadmitted insurer is
considered a misdemeanor.
What happens if an owner requests an immediate investment of monies in a
variable annuity policy be returned during the 30 day cancellation period?
1.
The owner shall forfeit any money invested.
2.
The owner shall receive the market value at the time of the cancellation.
3.
The owner shall receive a refund of premium but nothing earned during
cancellation period.
