PSI LIFE, ACCIDENT AND HEALTH EXAM QUESTIONS BANK NEWEST 2024 COMPLETE 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+BRAND NEW VERSION!.pdf

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PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM
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2025| BRAND NEW ACTUAL EXAM WITH 100% V
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ERIFIED QUESTIONS AND CORRECT SOLUTIO n n n n




NS| GUARANTEED VALUE PACK| ACE YOUR GR
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ADES.

Which is an ACCURATE statement regarding benefits of Medicare suppleme
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nt and Medicare select plans?
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1. The insurer is able to cancel, or deny renewal of an existing policy, b
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ased solely on the health of the insured.
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2. There is no restriction for benefits after the coverage has been in e
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ffect for six months when involving a preexisting condition.
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3. The coverage for a loss from an illness or disease is treated differentl
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y than for a loss resulting from an injury due to an accident.
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4. The coverage for a spouse cannot be terminated for any reason, i
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ncluding for nonpayment of premiums. - Correct Answer-2
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There is no restriction for benefits after the coverage has been in effect for six
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months when involving a preexisting condition.
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How is the insurance commissioner chosen?
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1. Elected by the people. n n n


2. Appointed by the Governor n n n


3. Selected by a vote in the House and the Senate. n n n n n n n n n


4. Randomly selected from a list of qualified candidates. -n n n n n n n n


Correct Answer-1
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Elected by the people. n n n

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An insurance agent is a person who transacts all of the following types of insur
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ance EXCEPT: n




1. annuities.
2. homeowners.
3. auto insurance. n


4. life insurance. - Correct Answer-
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4 life insurance.
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The California Legislature declared all of the following when creating the Heal
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thy Families Program EXCEPT:
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1. that most uninsured children come from low-income families.
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2. lack of educational resources for children and their parents leads to i
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ncreased medical expenses. n n


3. that lack of insurance coverage for children results in reduced access t
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o medical services.
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4. when a child is seriously ill or injured, the costs of needed medical c
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are can force families into financial ruin. - Correct Answer-2
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lack of educational resources for children and their parents leads to increased
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nmedical expenses. n




Which of the following BEST defines the general concept of the 24-
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hour care plan? n n

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1. It integrates workers compensation medical care with the care p
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rovided by group health insurance. n n n n


2. It provides immediate medical care from any source for injuries on w
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hich occur on the job. n n n n


3. It permits non job related injuries to be treated through the worker?s c
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ompensation program. n


4. It pays any medical bill from a job related injury for services within the fir
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st 24 hours of the injury. - Correct Answer-1
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It integrates workers compensation medical care with the care provided by gr
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oup health insurance.
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How does an "admitted" person differ from an "nonadmitted" person, as it pert
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ains to insurance?
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1. An "admitted" person has admitted to a crime or fraud, while a "
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nonadmitted" person has not. n n n


2. An "admitted" person has been granted admission to an insurance a
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ssociation, while a "nonadmitted" person has not been accepted. n n n n n n n n


3. An "admitted" person has been admitted to an accreditation program,
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while a "nonadmitted" person has yet to earn the credits.
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4. An "admitted" person has the right to transact insurance business w
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ithin the state, while a "nonadmitted" person is not entitled to this acti
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on. - Correct Answer-4 n n n



An "admitted" person has the right to transact insurance business within the
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state, while a "nonadmitted" person is not entitled to this action.
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When may a licensee surrender for cancellation any license under which they
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are permitted to act?
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1. upon renewal of the license
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2. within 60 days of renewal of their license
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3. at any time
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4. when they no longer have any clients with policies in force -
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Correct Answer-3
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at any time
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When does a disability policy become incontestable as to the statements cont
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ained in the application?
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1. Afternthis npolicynbeenninnforcenfornanperiodnofnonenyearnduringnthenlifetimenofn
the insured.n



2. Afternthis npolicynbeenninnforcenfornanperiodnofntwonyears nduring nthenlifetimenofn
the insured.n



3. When nthencompanynhasnconfirmednallnofnthenstatements nandnissuednanbi
nding contract. n



4. Twonyearsnafternthendatenofnthenapplicationnwhennanconditionalnreceiptnh
as been issued. - Correct Answer-2
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After this policy been in force for a period of two years during the lifetime of the
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insured.
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Which statement describes the intent of the California Financial Information P
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rivacy Act? n




1. It enables and authorizes the Gramm-Leach-
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Bliley Act into California legal system.
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2. It permits civil lawsuits against financial institutions who violate the
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Gramm-Leach-Bliley Act. n