CA PSI SITE LIFE ACCIDENT AND HEALTH OR SICKNESS EXAM (LIFE AGENT)
CA PSI SITE LIFE ACCIDENT AND HEALTH OR
SICKNESS EXAM (LIFE AGENT) LATEST 2025 REAL
EXAM COMPLETE 200 QUESTIONS AND CORRECT
DETAILS (VERIFIED ANSWERS) |ALREADY GRADED A+
1|Page
, CA PSI SITE LIFE ACCIDENT AND HEALTH OR SICKNESS EXAM (LIFE AGENT)
A disability policy is issued and premiums are paid on an annual basis on the 1st of January. At
the first anniversary, the insured decides they do not want to renew the policy and they do not
pay the premium. On the 8th day after the premium due date, the insured submits a claim for
medical expenses. How will the company respond to the claim ?
A. It will not be paid because the policy expired on the anniversary date.
B. It will be paid because the insured did not request a formal cancellation
C. It will be paid because the loss was not reported within the grace period.
D. It will be paid because the loss occurred within the grace period. - ANSWER-D
If the premium on an individual health insurance policy is paid annually, semi-annually, or
quarterly what is the minimum grace period required ?
A. 10 days
B. 20 days
C. 30 or 31 days
D. None of the above - ANSWER-C
There are four basic classes of life insurance. All of the selections listed below are regarded as
ordinary insurance, except:
A. A life paid-up-at-age-55 policy
B. A 10-year endowment contract
C. A group life insurance policy
D. Term life insurance policy - ANSWER-C
The Commissioner must examine the affairs, transactions, accounts, records, and assets of each
domestic insurer at least every:
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, CA PSI SITE LIFE ACCIDENT AND HEALTH OR SICKNESS EXAM (LIFE AGENT)
A. 3 years
B. 5 years
C. 2 years
D. 1 year - ANSWER-B
When making a loan on a life insurance policy's cash value, the insurer may deduct from the
loan value all of the following EXCEPT:
A. Any unpaid balance of the premium for the current policy year
B. Interest on the loan to the end of the current policy year
C. Any existing indebtedness to the insurer not already deducted.
D. Future years premiums that are not yet due - ANSWER-D
Carl's policy lapsed. Which of the following would reinstate his policy?
A. Carl's insurance company accepted his late payment
B. Carl sent a written noticed regarding his late payment
C. Carl was issued a reinstatement application
D. Carl contacted his agent - ANSWER-A
In replacement, an existing insurer must provide policyowners with a policy summary for
existing Life Insurance within how many days of receiving the written communication and
replacement?
A. 31 days
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, CA PSI SITE LIFE ACCIDENT AND HEALTH OR SICKNESS EXAM (LIFE AGENT)
B. 5 days
C. 60 days
D. 15 days - ANSWER-B
What is required if an employee joins a group plan after an Enrollment Period?
A. Evidence of insurability
B. Evidence of payment
C. Evidence of conversion
D. Evidence of incontestability - ANSWER-A
Jim pays his premium monthly. What is his Grace Period?
A. 7 days
B. 30 days
C. 31 days
D. 10 days - ANSWER-D
Mr. Jones answered questions on his application. What are they called?
A. Warranties
B. Responses
C. Representations
4|Page
CA PSI SITE LIFE ACCIDENT AND HEALTH OR
SICKNESS EXAM (LIFE AGENT) LATEST 2025 REAL
EXAM COMPLETE 200 QUESTIONS AND CORRECT
DETAILS (VERIFIED ANSWERS) |ALREADY GRADED A+
1|Page
, CA PSI SITE LIFE ACCIDENT AND HEALTH OR SICKNESS EXAM (LIFE AGENT)
A disability policy is issued and premiums are paid on an annual basis on the 1st of January. At
the first anniversary, the insured decides they do not want to renew the policy and they do not
pay the premium. On the 8th day after the premium due date, the insured submits a claim for
medical expenses. How will the company respond to the claim ?
A. It will not be paid because the policy expired on the anniversary date.
B. It will be paid because the insured did not request a formal cancellation
C. It will be paid because the loss was not reported within the grace period.
D. It will be paid because the loss occurred within the grace period. - ANSWER-D
If the premium on an individual health insurance policy is paid annually, semi-annually, or
quarterly what is the minimum grace period required ?
A. 10 days
B. 20 days
C. 30 or 31 days
D. None of the above - ANSWER-C
There are four basic classes of life insurance. All of the selections listed below are regarded as
ordinary insurance, except:
A. A life paid-up-at-age-55 policy
B. A 10-year endowment contract
C. A group life insurance policy
D. Term life insurance policy - ANSWER-C
The Commissioner must examine the affairs, transactions, accounts, records, and assets of each
domestic insurer at least every:
2|Page
, CA PSI SITE LIFE ACCIDENT AND HEALTH OR SICKNESS EXAM (LIFE AGENT)
A. 3 years
B. 5 years
C. 2 years
D. 1 year - ANSWER-B
When making a loan on a life insurance policy's cash value, the insurer may deduct from the
loan value all of the following EXCEPT:
A. Any unpaid balance of the premium for the current policy year
B. Interest on the loan to the end of the current policy year
C. Any existing indebtedness to the insurer not already deducted.
D. Future years premiums that are not yet due - ANSWER-D
Carl's policy lapsed. Which of the following would reinstate his policy?
A. Carl's insurance company accepted his late payment
B. Carl sent a written noticed regarding his late payment
C. Carl was issued a reinstatement application
D. Carl contacted his agent - ANSWER-A
In replacement, an existing insurer must provide policyowners with a policy summary for
existing Life Insurance within how many days of receiving the written communication and
replacement?
A. 31 days
3|Page
, CA PSI SITE LIFE ACCIDENT AND HEALTH OR SICKNESS EXAM (LIFE AGENT)
B. 5 days
C. 60 days
D. 15 days - ANSWER-B
What is required if an employee joins a group plan after an Enrollment Period?
A. Evidence of insurability
B. Evidence of payment
C. Evidence of conversion
D. Evidence of incontestability - ANSWER-A
Jim pays his premium monthly. What is his Grace Period?
A. 7 days
B. 30 days
C. 31 days
D. 10 days - ANSWER-D
Mr. Jones answered questions on his application. What are they called?
A. Warranties
B. Responses
C. Representations
4|Page
