1|Page
CA PSI SITE LIFE ACCIDENT AND HEALTH OR
SICKNESS EXAM (LIFE AGENT) LATEST 2025/ 2026
ACTUAL EXAM WITH COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (100% VERIFIED
ANSWERS) |ALREADY GRADED A+| ||VERIFIED
EXAM!!!|| ||LATEST EXAM!!!||
what is meant by referring to an insurance policy as a
unilateral contract? - Answer-only one party makes a legal
enforceable promise
when must insurance records of insurance agents and
brokers be made available to the Insurance
Commissioner? - Answer-at all times
any situation that presents the possibility of a loss is
known as what - Answer-a loss exposure
which of the following information is not required to be
communicated in a life insurance contract? - Answer-
personal judgement
,2|Page
the direct distribution of insurance utilizes all of the
following to promote the sale of insurance EXCEPT -
Answer-telephone call from an agent
a contract in which one part promises to identify another
against loss that arises from an unknown event is -
Answer-an insurance policy
all of the occurrences listed below are examples of an
insurable event as defined by the California insurance
code EXCEPT - Answer-an insured suffers financial loss in
the state lottery
all of the following statements about aleatory contracts are
true EXCEPT - Answer-the insured and insurer contribute
equally to the contract
all of the following would be considered unfair trade
practices EXCEPT - Answer-committing any act of
discrimination whether it be deemed fair or unfair
As authorized by the California Insurance Code, the
Insurance Commissioner has provided standards for
,3|Page
names used by life insurance agents. Under these
standards which, if any, of the following are automatically
acceptable for Mary Brown, a holder of the CLU
designation? - Answer-Mary brown insurance servies
a contract of indemnity is one in which - Answer-One party
is restored to the same financial position the party was in
before the loss occurred
In insurance terminology, "indemnity" means - Answer-
make whole
As defined in the California insurance Code, "insurance" is
a - Answer-contract
What would a person be guilty of who refuses to deliver
any books, records, or assets to the commissioner once a
seizure order has been executed? - Answer-a
misdemeanor
An agent who is acting as an insurance agent, broker,
solicitor, life agent, accident and health, or bail agent acts
, 4|Page
in which capacity when handling premiums or return
premiums for an insured? - Answer-fiduciary
which of the following statement regarding risk is TRUE -
Answer-only pure risks are insurable
The purchase of an insurance policy may accomplish all of
the following for the insured EXCEPT - Answer-the
elimination of risk
Insureds are entitled to recover an amount NOT greater
than the amount of their loss under the principle of -
Answer-indemnity
what rule is used to determine the importance of a
representation? - Answer-the materiality of concealment
the required contents of a policy include all of the following
EXCEPT - Answer-the possibility of loss
all of the following are characteristics of reinsurance
EXCEPT - Answer-increases the unearned premium
reserve
CA PSI SITE LIFE ACCIDENT AND HEALTH OR
SICKNESS EXAM (LIFE AGENT) LATEST 2025/ 2026
ACTUAL EXAM WITH COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (100% VERIFIED
ANSWERS) |ALREADY GRADED A+| ||VERIFIED
EXAM!!!|| ||LATEST EXAM!!!||
what is meant by referring to an insurance policy as a
unilateral contract? - Answer-only one party makes a legal
enforceable promise
when must insurance records of insurance agents and
brokers be made available to the Insurance
Commissioner? - Answer-at all times
any situation that presents the possibility of a loss is
known as what - Answer-a loss exposure
which of the following information is not required to be
communicated in a life insurance contract? - Answer-
personal judgement
,2|Page
the direct distribution of insurance utilizes all of the
following to promote the sale of insurance EXCEPT -
Answer-telephone call from an agent
a contract in which one part promises to identify another
against loss that arises from an unknown event is -
Answer-an insurance policy
all of the occurrences listed below are examples of an
insurable event as defined by the California insurance
code EXCEPT - Answer-an insured suffers financial loss in
the state lottery
all of the following statements about aleatory contracts are
true EXCEPT - Answer-the insured and insurer contribute
equally to the contract
all of the following would be considered unfair trade
practices EXCEPT - Answer-committing any act of
discrimination whether it be deemed fair or unfair
As authorized by the California Insurance Code, the
Insurance Commissioner has provided standards for
,3|Page
names used by life insurance agents. Under these
standards which, if any, of the following are automatically
acceptable for Mary Brown, a holder of the CLU
designation? - Answer-Mary brown insurance servies
a contract of indemnity is one in which - Answer-One party
is restored to the same financial position the party was in
before the loss occurred
In insurance terminology, "indemnity" means - Answer-
make whole
As defined in the California insurance Code, "insurance" is
a - Answer-contract
What would a person be guilty of who refuses to deliver
any books, records, or assets to the commissioner once a
seizure order has been executed? - Answer-a
misdemeanor
An agent who is acting as an insurance agent, broker,
solicitor, life agent, accident and health, or bail agent acts
, 4|Page
in which capacity when handling premiums or return
premiums for an insured? - Answer-fiduciary
which of the following statement regarding risk is TRUE -
Answer-only pure risks are insurable
The purchase of an insurance policy may accomplish all of
the following for the insured EXCEPT - Answer-the
elimination of risk
Insureds are entitled to recover an amount NOT greater
than the amount of their loss under the principle of -
Answer-indemnity
what rule is used to determine the importance of a
representation? - Answer-the materiality of concealment
the required contents of a policy include all of the following
EXCEPT - Answer-the possibility of loss
all of the following are characteristics of reinsurance
EXCEPT - Answer-increases the unearned premium
reserve
