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CA PSI Site - Life, Accident And Health
Or Sickness Examination | Actual Exam
Questions & Answers
Which type of life insurance policy pays the face amount at the end of the
specified period if the insured is still alive?
Adjustable life policy
Endowment policy
Universal life policy
Modified life policy-correct-answer-Endowment policy
A life insurance policy normally contains a provision that restricts coverage in the
event of death under all of the following situations EXCEPT
pilot of personal airplane
war
fare-paying passenger
suicide-correct-answer-fare-paying passenger
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A policyowner may exercise which of these dividend options that uses the
dividend to pay all or part of the next premium due?]
Extended term option
Paid-up option
Reduction of premium dividend option
Cash dividend option-correct-answer-Reduction of premium dividend option
Which of these is NOT a characteristic of the Accelerated Death Benefit option?
The face amount and policy premium are not affected by the payment
The benefit can be offered as a rider at a specific extra cost or may be at no cost
There may be a dollar limit on the maximum benefit
Before payment of the benefit is made, specific conditions must exist, such as
suffering from a terminal illness-correct-answer-The benefit can be offered as a
rider at a specific extra cost or may be at no cost
Which of these is NOT considered to be a common life insurance nonforfeiture
option?
Reduced paid-up insurance
Life income annuity
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Extended term insurance
Cash surrender-correct-answer-Life income annuity
Which type of rider will waive the premium on a child's life insurance policy if the
parent paying the premium dies?
Juvenile waiver
Payor benefit
Guaranteed insurability
Waiver of premium-correct-answer-Payor benefit
Kurt is an active duty serviceman who was recently killed in an accident while
home on leave. Which military service exclusion clause would pay upon his death?
Status
Leave
Active
Results-correct-answer-Results
Matt is applying for life insurance and requests a double indemnity rider. A double
indemnity benefit will be payable to Matt's beneficiary if Matt
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dies of a stroke
dies instantly from a car accident
is injured in a skiing accident and dies 18 months later
is killed while committing a felony-correct-answer-dies instantly from a car
accident
The double indemnity provision in a life insurance policy pertains to an insured's
death caused by a(n)
suicide
war
sickness
accident-correct-answer-accident
Life insurance policies will normally pay for losses arising from
war
suicide
hazardous jobs
commercial aviation-correct-answer-commercial aviation
CA PSI Site - Life, Accident And Health
Or Sickness Examination | Actual Exam
Questions & Answers
Which type of life insurance policy pays the face amount at the end of the
specified period if the insured is still alive?
Adjustable life policy
Endowment policy
Universal life policy
Modified life policy-correct-answer-Endowment policy
A life insurance policy normally contains a provision that restricts coverage in the
event of death under all of the following situations EXCEPT
pilot of personal airplane
war
fare-paying passenger
suicide-correct-answer-fare-paying passenger
,2|Page
A policyowner may exercise which of these dividend options that uses the
dividend to pay all or part of the next premium due?]
Extended term option
Paid-up option
Reduction of premium dividend option
Cash dividend option-correct-answer-Reduction of premium dividend option
Which of these is NOT a characteristic of the Accelerated Death Benefit option?
The face amount and policy premium are not affected by the payment
The benefit can be offered as a rider at a specific extra cost or may be at no cost
There may be a dollar limit on the maximum benefit
Before payment of the benefit is made, specific conditions must exist, such as
suffering from a terminal illness-correct-answer-The benefit can be offered as a
rider at a specific extra cost or may be at no cost
Which of these is NOT considered to be a common life insurance nonforfeiture
option?
Reduced paid-up insurance
Life income annuity
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Extended term insurance
Cash surrender-correct-answer-Life income annuity
Which type of rider will waive the premium on a child's life insurance policy if the
parent paying the premium dies?
Juvenile waiver
Payor benefit
Guaranteed insurability
Waiver of premium-correct-answer-Payor benefit
Kurt is an active duty serviceman who was recently killed in an accident while
home on leave. Which military service exclusion clause would pay upon his death?
Status
Leave
Active
Results-correct-answer-Results
Matt is applying for life insurance and requests a double indemnity rider. A double
indemnity benefit will be payable to Matt's beneficiary if Matt
, 4|Page
dies of a stroke
dies instantly from a car accident
is injured in a skiing accident and dies 18 months later
is killed while committing a felony-correct-answer-dies instantly from a car
accident
The double indemnity provision in a life insurance policy pertains to an insured's
death caused by a(n)
suicide
war
sickness
accident-correct-answer-accident
Life insurance policies will normally pay for losses arising from
war
suicide
hazardous jobs
commercial aviation-correct-answer-commercial aviation
