PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM
QUESTIONS AND ANSWERS 2024/2025 LATEST
UPDATED A COMPLETE SOLUTION ALL ANSWERS 100%
CORRECT DETAILED BEST GRADED A+ FOR PASS
Which of the following may be insured against?
1
Disability.
2
Accidental death.
3
Wagering losses.
4
Catastrophic losses. - CORRECT ANSWERS 3
Wagering losses.
When is it allowable for a written application for any disability policy to be altered?
1
by the insurer, for administrative purposes only, when it is clear that the applicant has not
made the insertions
2
by the agent who notices an error that is in disagreement with written information on file for
that applicant
3
by an agent who verbally notifies the insured, for commission adjustments, of the reasons for
the suggested alterations
4
,PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM
QUESTIONS AND ANSWERS 2024/2025 LATEST
UPDATED A COMPLETE SOLUTION ALL ANSWERS 100%
CORRECT DETAILED BEST GRADED A+ FOR PASS
by the insurer, to record such changes as to modify the application to meet all requirements of
the California Insurance Code - CORRECT ANSWERS 1
by the insurer, for administrative purposes only, when it is clear that the applicant has not
made the insertions
Which is an ACCURATE statement regarding dependent coverage under a group insurance
policy?
1
The coverage lasts from birth until age 18.
2
The coverage must not exceed more than 50 percent of the coverage for the insured employee.
3
The coverage must not exceed more than 100 percent of the coverage for the insured
employee.
4
The coverage is not intended to cover preexisting medical conditions for the proposed
dependent. - CORRECT ANSWERS 3
The coverage must not exceed more than 100 percent of the coverage for the insured
employee.
When a replacement policy is being considered, what is required from an insurer?
1
A notarized statement acknowledging reasons for replacement and identification information,
signed by the applicant and the agent are required.
,PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM
QUESTIONS AND ANSWERS 2024/2025 LATEST
UPDATED A COMPLETE SOLUTION ALL ANSWERS 100%
CORRECT DETAILED BEST GRADED A+ FOR PASS
2
A price comparison breaking down the cost of the new coverage and the coverage that it will
replace, including annual dividend statements is required to avoid penalties.
3
The agent is required to send a replacement notice within 60 days of the application to the
insurer for any existing coverage that may be replaced by the new policy.
4
A list of existing policies, replacement notice signed by the applicant and the agent, and a
notice sent to any existing insurers that replacement is possible are all requirements. -
CORRECT ANSWERS A list of existing policies, replacement notice signed by the applicant
and the agent, and a notice sent to any existing insurers that replacement is possible are all
requirements.
How can a licensee surrender any license for cancellation?
1
By posting a written statement on their website.
2
By calling the Department of Insurance and advising them verbally.
3
By submitting written notice or by delivering the license to the commissioner.
4
By submitting written notice to all contracted insurers and existing policyholders. - CORRECT
ANSWERS 3
By submitting written notice or by delivering the license to the commissioner.
, PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM
QUESTIONS AND ANSWERS 2024/2025 LATEST
UPDATED A COMPLETE SOLUTION ALL ANSWERS 100%
CORRECT DETAILED BEST GRADED A+ FOR PASS
Which form of negotiation is covered under the definition of "transact" as applied to insurance?
1
Negotiations on contract modifications.
2
Negotiations regarding an agent contract/
3
Negotiations following execution.
4
Negotiations preliminary to execution. - CORRECT ANSWERS 4
Negotiations preliminary to execution.
Which of the following provisions of free insurance offered as an incentive to purchase or rent
property is TRUE?
1
It is permitted with no charge.
2
It requires a separate charge or fee.
3
If offered as a guarantee of the performance of goods, it is prohibited.
4
If issued by credit unions or with newspaper subscriptions, it is limited under Statute 777.2. -
CORRECT ANSWERS 2
QUESTIONS AND ANSWERS 2024/2025 LATEST
UPDATED A COMPLETE SOLUTION ALL ANSWERS 100%
CORRECT DETAILED BEST GRADED A+ FOR PASS
Which of the following may be insured against?
1
Disability.
2
Accidental death.
3
Wagering losses.
4
Catastrophic losses. - CORRECT ANSWERS 3
Wagering losses.
When is it allowable for a written application for any disability policy to be altered?
1
by the insurer, for administrative purposes only, when it is clear that the applicant has not
made the insertions
2
by the agent who notices an error that is in disagreement with written information on file for
that applicant
3
by an agent who verbally notifies the insured, for commission adjustments, of the reasons for
the suggested alterations
4
,PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM
QUESTIONS AND ANSWERS 2024/2025 LATEST
UPDATED A COMPLETE SOLUTION ALL ANSWERS 100%
CORRECT DETAILED BEST GRADED A+ FOR PASS
by the insurer, to record such changes as to modify the application to meet all requirements of
the California Insurance Code - CORRECT ANSWERS 1
by the insurer, for administrative purposes only, when it is clear that the applicant has not
made the insertions
Which is an ACCURATE statement regarding dependent coverage under a group insurance
policy?
1
The coverage lasts from birth until age 18.
2
The coverage must not exceed more than 50 percent of the coverage for the insured employee.
3
The coverage must not exceed more than 100 percent of the coverage for the insured
employee.
4
The coverage is not intended to cover preexisting medical conditions for the proposed
dependent. - CORRECT ANSWERS 3
The coverage must not exceed more than 100 percent of the coverage for the insured
employee.
When a replacement policy is being considered, what is required from an insurer?
1
A notarized statement acknowledging reasons for replacement and identification information,
signed by the applicant and the agent are required.
,PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM
QUESTIONS AND ANSWERS 2024/2025 LATEST
UPDATED A COMPLETE SOLUTION ALL ANSWERS 100%
CORRECT DETAILED BEST GRADED A+ FOR PASS
2
A price comparison breaking down the cost of the new coverage and the coverage that it will
replace, including annual dividend statements is required to avoid penalties.
3
The agent is required to send a replacement notice within 60 days of the application to the
insurer for any existing coverage that may be replaced by the new policy.
4
A list of existing policies, replacement notice signed by the applicant and the agent, and a
notice sent to any existing insurers that replacement is possible are all requirements. -
CORRECT ANSWERS A list of existing policies, replacement notice signed by the applicant
and the agent, and a notice sent to any existing insurers that replacement is possible are all
requirements.
How can a licensee surrender any license for cancellation?
1
By posting a written statement on their website.
2
By calling the Department of Insurance and advising them verbally.
3
By submitting written notice or by delivering the license to the commissioner.
4
By submitting written notice to all contracted insurers and existing policyholders. - CORRECT
ANSWERS 3
By submitting written notice or by delivering the license to the commissioner.
, PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM
QUESTIONS AND ANSWERS 2024/2025 LATEST
UPDATED A COMPLETE SOLUTION ALL ANSWERS 100%
CORRECT DETAILED BEST GRADED A+ FOR PASS
Which form of negotiation is covered under the definition of "transact" as applied to insurance?
1
Negotiations on contract modifications.
2
Negotiations regarding an agent contract/
3
Negotiations following execution.
4
Negotiations preliminary to execution. - CORRECT ANSWERS 4
Negotiations preliminary to execution.
Which of the following provisions of free insurance offered as an incentive to purchase or rent
property is TRUE?
1
It is permitted with no charge.
2
It requires a separate charge or fee.
3
If offered as a guarantee of the performance of goods, it is prohibited.
4
If issued by credit unions or with newspaper subscriptions, it is limited under Statute 777.2. -
CORRECT ANSWERS 2
