CA PSI Site - Life, Accident and Health or Sickness
Examination NEWEST VERSION 2025 -2026 COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS
\VERIFIED 100% GRADED A+
The deeds and actions of a producer Apparent
indicate what kind of authority?
Express Implied
Conditional Apparent
All of the following are elements of claim forms
an insurance policy EXCEPT
definitions claim forms
other insurance conditions
What are an applicant's statements representation
concerning occupation, hobbies,
and personal health history
regarded as?
representation
collateral
warranty
guarantee
What makes an insurance policy a Only the insurer is legally bound
unilateral contract?
Only the insurer is legally
bound Only the insured pays
the premium
Only the insured can change the
provisions Only the insured is
legally bound
,In an insurance contract, the insurer unilateral
is the only party legally obligated
to perform. Because of this, an
insurance contract is considered
conditional
unilateral
voidable
aleatory
When the principal gives the express authority
agent authority in writing, it's
referred to as
apparent authority
implied authority
express authority
imposed authority
Insurable interest does NOT occur Business owner and business client
in which of the following
relationships?
Sister and
brother
Business
partners
Parent and
children
Business owner and business client
Which of the following best A contract that requires certain conditions or acts by the insured individual
describes a conditional
insurance contract?
A contract that has the
potential for the unequal
exchange of consideration for
both parties
A contract that requires certain
conditions or acts by the insured
individual
A contract where one party
"adheres" to the terms of the
contract
A contract where only one party
makes any kind of enforceable
contract
,In an insurance contract, the statements made in the application and the premium
applicant's "consideration" is the
statements made in the
application only offer and
acceptance
statements made in the
application and the premium
premium only
The type of multiple protection survivorship life policy
coverage that pays on the death
of the last person is called a(n)
annuity joint policy
survivorship life
policy dual life
policy
joint life policy
The type of policy which pays on survivorship life
the death of the last person is
called
shared life
dual life
survivorship
life joint life
What does the word "level" in The face amount
Level Term describe?
The premium
payments The
period of
coverage The
cash value
The face amount
A renewable Term Life insurance without producing proof of insurability
policy
allows the policyowner the right to
renew the policy
paying the same premium as
before the renewal
at anytime the policyowner chooses
without producing proof of
insurability
as many times as the policyowner
, chooses
A single premium cash value a policy that is paid up after only one payment
policy can be described as
a policy that covers two or
more lives a policy that is
paid up after only one
payment
a policy that is guaranteed issue
a policy that only requires an
annual payment
Insurance represents the process of transference
risk
assumption
selection
avoidance
transference
The cause of a loss is referred to as peril
a(n)
hazar
d
peril
risk
adversity
People with higher loss exposure adverse selection
have the tendency to purchase
insurance more
often than those at average risk.
This is called
preexisting
conditions risk
retention
adverse
selection law of
large numbers
Examination NEWEST VERSION 2025 -2026 COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS
\VERIFIED 100% GRADED A+
The deeds and actions of a producer Apparent
indicate what kind of authority?
Express Implied
Conditional Apparent
All of the following are elements of claim forms
an insurance policy EXCEPT
definitions claim forms
other insurance conditions
What are an applicant's statements representation
concerning occupation, hobbies,
and personal health history
regarded as?
representation
collateral
warranty
guarantee
What makes an insurance policy a Only the insurer is legally bound
unilateral contract?
Only the insurer is legally
bound Only the insured pays
the premium
Only the insured can change the
provisions Only the insured is
legally bound
,In an insurance contract, the insurer unilateral
is the only party legally obligated
to perform. Because of this, an
insurance contract is considered
conditional
unilateral
voidable
aleatory
When the principal gives the express authority
agent authority in writing, it's
referred to as
apparent authority
implied authority
express authority
imposed authority
Insurable interest does NOT occur Business owner and business client
in which of the following
relationships?
Sister and
brother
Business
partners
Parent and
children
Business owner and business client
Which of the following best A contract that requires certain conditions or acts by the insured individual
describes a conditional
insurance contract?
A contract that has the
potential for the unequal
exchange of consideration for
both parties
A contract that requires certain
conditions or acts by the insured
individual
A contract where one party
"adheres" to the terms of the
contract
A contract where only one party
makes any kind of enforceable
contract
,In an insurance contract, the statements made in the application and the premium
applicant's "consideration" is the
statements made in the
application only offer and
acceptance
statements made in the
application and the premium
premium only
The type of multiple protection survivorship life policy
coverage that pays on the death
of the last person is called a(n)
annuity joint policy
survivorship life
policy dual life
policy
joint life policy
The type of policy which pays on survivorship life
the death of the last person is
called
shared life
dual life
survivorship
life joint life
What does the word "level" in The face amount
Level Term describe?
The premium
payments The
period of
coverage The
cash value
The face amount
A renewable Term Life insurance without producing proof of insurability
policy
allows the policyowner the right to
renew the policy
paying the same premium as
before the renewal
at anytime the policyowner chooses
without producing proof of
insurability
as many times as the policyowner
, chooses
A single premium cash value a policy that is paid up after only one payment
policy can be described as
a policy that covers two or
more lives a policy that is
paid up after only one
payment
a policy that is guaranteed issue
a policy that only requires an
annual payment
Insurance represents the process of transference
risk
assumption
selection
avoidance
transference
The cause of a loss is referred to as peril
a(n)
hazar
d
peril
risk
adversity
People with higher loss exposure adverse selection
have the tendency to purchase
insurance more
often than those at average risk.
This is called
preexisting
conditions risk
retention
adverse
selection law of
large numbers
