PSI exam Past Exam QUESTIONS AND
ANSWERS 100% score (reupdated 2025)
When shall an individual certificate be deemed to be
"individualized" within the meaning of the CIC?
only if it contains the full legal name of the person
covered
if it contains either the name of the person covered or
some other means of identifying to the individual covered
that it is his individual certificate
if there is an attached statement from the insurance
company stating that the certificate provides coverage to
that individual
if it contains the name of the person covered along with
at least two other types of identifying information -
Correct Answers ✅if it contains either the name of the
person covered or some other means of identifying to the
individual covered that it is his individual certificate
ALL of the following are TRUE regarding the process to
change the California Code of Regulations EXCEPT
1.
the Office of Administrative Law (OAL) may substitute its
own judgment for that of the rulemaking agency.
2.
the Administrative Procedure Act requires a minimum of
45 days for comments regarding the proposed changes.
,PSI exam Past Exam QUESTIONS AND
ANSWERS 100% score (reupdated 2025)
3.
the Agency may decide to change its initial proposal in
response to public comments or on its own initiative after
the initial public comment period.
4.
the Emergency Rulemaking Process and the Regular
Rulemaking Process are separate requiring different
standards and procedures for proposed changes. -
Correct Answers ✅the Office of Administrative Law
(OAL) may substitute its own judgment for that of the
rulemaking agency.
The California Life and Health Insurance Guarantee Act
provides coverage for all of the following EXCEPT
a stop-loss insurance plan.
a major medical insurance plan.
a surgical insurance plan.
a long term care insurance plan. - Correct Answers ✅a
stop-loss insurance plan
How long does an employee in a group insurance policy
have to exercise the conversion privilege after
employment is terminated?
,PSI exam Past Exam QUESTIONS AND
ANSWERS 100% score (reupdated 2025)
0 days with no eligible coverage once the employment is
terminated
31 days to use the conversion privilege and begin an
individual life insurance policy.
90 days to convert to an individual policy equal to the
coverage under the group policy
6 months to exercise the conversion privilege after
termination if the employee was ill-treated - Correct
Answers ✅31 days to use the conversion privilege and
begin an individual life insurance policy.
When may a licensee surrender for cancellation any
license under which they are permitted to act?
upon renewal of the license
within 60 days of renewal of their license
at any time
when they no longer have any clients with policies in
force - Correct Answers ✅at any time
Which statement describes the intent of the California
Financial Information Privacy Act?
, PSI exam Past Exam QUESTIONS AND
ANSWERS 100% score (reupdated 2025)
1.
It enables and authorizes the Gramm-Leach-Bliley Act into
California legal system.
2.
It permits civil lawsuits against financial institutions who
violate the Gramm-Leach-Bliley Act.
3.
It provides greater privacy protections than those
provided in the federal Gramm-Leach-Bliley Act.
4.
It permits greater flexibility to financial institutions than
privacy protections enacted in Gramm-Leach-Bliley Act. -
Correct Answers ✅It provides greater privacy
protections than those provided in the federal Gramm-
Leach-Bliley Act.
Which is NOT a requirement of a Medicare Supplement
provider?
1.
Establishing auditable procedures for maintaining
compliance.
2.
Establishing marketing procedures to make sure
excessive insurance is not sold or issued.
ANSWERS 100% score (reupdated 2025)
When shall an individual certificate be deemed to be
"individualized" within the meaning of the CIC?
only if it contains the full legal name of the person
covered
if it contains either the name of the person covered or
some other means of identifying to the individual covered
that it is his individual certificate
if there is an attached statement from the insurance
company stating that the certificate provides coverage to
that individual
if it contains the name of the person covered along with
at least two other types of identifying information -
Correct Answers ✅if it contains either the name of the
person covered or some other means of identifying to the
individual covered that it is his individual certificate
ALL of the following are TRUE regarding the process to
change the California Code of Regulations EXCEPT
1.
the Office of Administrative Law (OAL) may substitute its
own judgment for that of the rulemaking agency.
2.
the Administrative Procedure Act requires a minimum of
45 days for comments regarding the proposed changes.
,PSI exam Past Exam QUESTIONS AND
ANSWERS 100% score (reupdated 2025)
3.
the Agency may decide to change its initial proposal in
response to public comments or on its own initiative after
the initial public comment period.
4.
the Emergency Rulemaking Process and the Regular
Rulemaking Process are separate requiring different
standards and procedures for proposed changes. -
Correct Answers ✅the Office of Administrative Law
(OAL) may substitute its own judgment for that of the
rulemaking agency.
The California Life and Health Insurance Guarantee Act
provides coverage for all of the following EXCEPT
a stop-loss insurance plan.
a major medical insurance plan.
a surgical insurance plan.
a long term care insurance plan. - Correct Answers ✅a
stop-loss insurance plan
How long does an employee in a group insurance policy
have to exercise the conversion privilege after
employment is terminated?
,PSI exam Past Exam QUESTIONS AND
ANSWERS 100% score (reupdated 2025)
0 days with no eligible coverage once the employment is
terminated
31 days to use the conversion privilege and begin an
individual life insurance policy.
90 days to convert to an individual policy equal to the
coverage under the group policy
6 months to exercise the conversion privilege after
termination if the employee was ill-treated - Correct
Answers ✅31 days to use the conversion privilege and
begin an individual life insurance policy.
When may a licensee surrender for cancellation any
license under which they are permitted to act?
upon renewal of the license
within 60 days of renewal of their license
at any time
when they no longer have any clients with policies in
force - Correct Answers ✅at any time
Which statement describes the intent of the California
Financial Information Privacy Act?
, PSI exam Past Exam QUESTIONS AND
ANSWERS 100% score (reupdated 2025)
1.
It enables and authorizes the Gramm-Leach-Bliley Act into
California legal system.
2.
It permits civil lawsuits against financial institutions who
violate the Gramm-Leach-Bliley Act.
3.
It provides greater privacy protections than those
provided in the federal Gramm-Leach-Bliley Act.
4.
It permits greater flexibility to financial institutions than
privacy protections enacted in Gramm-Leach-Bliley Act. -
Correct Answers ✅It provides greater privacy
protections than those provided in the federal Gramm-
Leach-Bliley Act.
Which is NOT a requirement of a Medicare Supplement
provider?
1.
Establishing auditable procedures for maintaining
compliance.
2.
Establishing marketing procedures to make sure
excessive insurance is not sold or issued.
