1|Page
PSI: Life, Accident, And Health Practice
Exam | Comprehensive Q&A For
Certification Success 2025
If the insurer wishes to share an applicant's HIV status, the applicant must be
given full notice of all of the following EXCEPT? -correct-answer-The treatment
procedures that are covered by the policy.
How do warranties differ from representations? -correct-answer-A warranty is
guaranteed to be true, a representation is believed to be true to the best of one's
knowledge.
In noncontributory plans, which percentage of eligible members must participate?
-correct-answer-100%
Managed care plans increase efficiency by all of the following means EXCEPT? -
correct-answer-Transferring the management of costs to the insureds.
All of the following are tax qualified retirement plans EXCEPT? -correct-answer-
Section 529 plan.
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Which of the following is characteristic of a non-qualified plan? -correct-answer-
Plan does not meet federal guidelines for tax benefits.
Under which situation must insurable interest exist between the applicant and
insured at the time of application? -correct-answer-When a third-party
application names themselves beneficiary.
The group conversion option is allowed for all of the following EXCEPT? -correct-
answer-During the annual benefits enrollment period.
In a case where an individual's health is insured by both their own policy and their
spouse's policy, which policy pays in the event of an illness? -correct-answer-The
individual's policy pays first, the spouse's policy pay the remaining up to coverage
amount.
Why is rehabilitation considered worthy of federal help under workers'
compensation? -correct-answer-It reduces insurance losses and helps regain the
worker's dignity.
PSI: Life, Accident, And Health Practice
Exam | Comprehensive Q&A For
Certification Success 2025
If the insurer wishes to share an applicant's HIV status, the applicant must be
given full notice of all of the following EXCEPT? -correct-answer-The treatment
procedures that are covered by the policy.
How do warranties differ from representations? -correct-answer-A warranty is
guaranteed to be true, a representation is believed to be true to the best of one's
knowledge.
In noncontributory plans, which percentage of eligible members must participate?
-correct-answer-100%
Managed care plans increase efficiency by all of the following means EXCEPT? -
correct-answer-Transferring the management of costs to the insureds.
All of the following are tax qualified retirement plans EXCEPT? -correct-answer-
Section 529 plan.
, 2|Page
Which of the following is characteristic of a non-qualified plan? -correct-answer-
Plan does not meet federal guidelines for tax benefits.
Under which situation must insurable interest exist between the applicant and
insured at the time of application? -correct-answer-When a third-party
application names themselves beneficiary.
The group conversion option is allowed for all of the following EXCEPT? -correct-
answer-During the annual benefits enrollment period.
In a case where an individual's health is insured by both their own policy and their
spouse's policy, which policy pays in the event of an illness? -correct-answer-The
individual's policy pays first, the spouse's policy pay the remaining up to coverage
amount.
Why is rehabilitation considered worthy of federal help under workers'
compensation? -correct-answer-It reduces insurance losses and helps regain the
worker's dignity.
