CA PSI SITE INSURANCE LIFE DEATH
AND ACCIDENT OR SICKNESS EXAM
LATEST 2026 WITH QUESTIONS AND
WELL-VERIFIED CORRECT ANSWERS |
ALREADY GRADED A+ | GUARANTEED
PASS | CA PSI INSURANCE EXAM FINAL
2026
An insured's disability income policy defines total disability as the "insured's
inability to perform the duties of any occupation for which he or she is reasonably
qualified by education, training, or experience." This definition is known as the: -
ANSWER- "Any Occupation" definition and is more restrictive than other
definitions
Own Occupation: - ANSWER- Defines total disability as the insured's inability to
perform any/all of the duties of their OWN occupation as a result of sickness or
accident
,Occupational Policy: - ANSWER- Covers losses due to work related or non work
related injuries
Non Occupational Policy: - ANSWER- will not cover the insured only while not
working
A disability income policy would do which of the following? - ANSWER- Replace
a partial portion of income if you were disabled.
During the disability income elimination period: - ANSWER- No benefits are
payable
The commonly used 30, 60, 90, and 180 days in disability terminology refers to
the: - ANSWER- Number of days for which no benefits are payable
An elimination period is also known as: - ANSWER- A waiting period
All life insurance and health insurance contracts contain all of the following
EXCEPT - ANSWER- representations
all of the following are requirements to qualify for social security disability
benefits except when - ANSWER- unable to work in occupation in which the
worker was trained or educated.
what is the order in which beneficiaries receive proceeds from a life insurance
policy ? - ANSWER- succession of beneficiaries
If a company provides group disability insurance to its employees, which of the
following may be tax-deductible? - ANSWER- the premiums paid by the company
as a business expense
,Which annuity settlement option provides a stated monthly amount to the annuitant
and upon the annuitant's death the same or a lesser amount paid for the lifetime of
the survivor? - ANSWER- Joint and survivorship option
which of the following policy types is considered double indemnity - ANSWER-
accidental death
How long after being entitled to disability benefits will an individual be eligible to
receive Medicare benefits? - ANSWER- 2 years
When the suicide clause is inserted in a life insurance contract, death by suicide is
not covered during the policy's initial: - ANSWER- 2 year period
Lists the three common types of permanent individuals life insurance? -
ANSWER- Variable Life, Whole life , Universal Life
Which type of annuity covers two or more annuitants and provides monthly
income only until the first annuitant dies? - ANSWER- Joint life annuity
which of the following is characteristic of a non-qualified plan? - ANSWER- plan
does not meet federal guidelines for tax benefits
what type of insurance should a company purchase if it wants to insure the life of
its CEO - ANSWER- key person insurance
All of the following are tax qualified retirement plan except - ANSWER- section
529 plan
, A consumer report used to determine eligibility - ANSWER- medical underwriting
exam
Which type of receipt makes the insurer liable for the risk from the date of
application, regardless of the applicant's insurability? - ANSWER- Binding receipt
When does insurable interest come into play in a life insurance policy? -
ANSWER- when the applicant for the policy is not the insured
which is a primary difference between individual and group health insurance -
ANSWER- Individual insurance requires evidence of insurability.
In a Level term life policy, which always remains constant? - ANSWER- death
benefit
which part of an insurance contract contains the promise to pay losses covered by
the policy in exchange for the insured's premium and compliance with policy
terms? - ANSWER- insuring clause
In a home healthcare benefit, all of the following are eligible expenses EXCEPT -
ANSWER- blood transfusions
in noncontributory plans, which percentage of eligible members must participate? -
ANSWER- 1
How are issues of ambiguity usually resolved because insurance contracts are
contracts of adhesion? - ANSWER- In favor of the insured because the insurance
company drafts the language in the contract.
AND ACCIDENT OR SICKNESS EXAM
LATEST 2026 WITH QUESTIONS AND
WELL-VERIFIED CORRECT ANSWERS |
ALREADY GRADED A+ | GUARANTEED
PASS | CA PSI INSURANCE EXAM FINAL
2026
An insured's disability income policy defines total disability as the "insured's
inability to perform the duties of any occupation for which he or she is reasonably
qualified by education, training, or experience." This definition is known as the: -
ANSWER- "Any Occupation" definition and is more restrictive than other
definitions
Own Occupation: - ANSWER- Defines total disability as the insured's inability to
perform any/all of the duties of their OWN occupation as a result of sickness or
accident
,Occupational Policy: - ANSWER- Covers losses due to work related or non work
related injuries
Non Occupational Policy: - ANSWER- will not cover the insured only while not
working
A disability income policy would do which of the following? - ANSWER- Replace
a partial portion of income if you were disabled.
During the disability income elimination period: - ANSWER- No benefits are
payable
The commonly used 30, 60, 90, and 180 days in disability terminology refers to
the: - ANSWER- Number of days for which no benefits are payable
An elimination period is also known as: - ANSWER- A waiting period
All life insurance and health insurance contracts contain all of the following
EXCEPT - ANSWER- representations
all of the following are requirements to qualify for social security disability
benefits except when - ANSWER- unable to work in occupation in which the
worker was trained or educated.
what is the order in which beneficiaries receive proceeds from a life insurance
policy ? - ANSWER- succession of beneficiaries
If a company provides group disability insurance to its employees, which of the
following may be tax-deductible? - ANSWER- the premiums paid by the company
as a business expense
,Which annuity settlement option provides a stated monthly amount to the annuitant
and upon the annuitant's death the same or a lesser amount paid for the lifetime of
the survivor? - ANSWER- Joint and survivorship option
which of the following policy types is considered double indemnity - ANSWER-
accidental death
How long after being entitled to disability benefits will an individual be eligible to
receive Medicare benefits? - ANSWER- 2 years
When the suicide clause is inserted in a life insurance contract, death by suicide is
not covered during the policy's initial: - ANSWER- 2 year period
Lists the three common types of permanent individuals life insurance? -
ANSWER- Variable Life, Whole life , Universal Life
Which type of annuity covers two or more annuitants and provides monthly
income only until the first annuitant dies? - ANSWER- Joint life annuity
which of the following is characteristic of a non-qualified plan? - ANSWER- plan
does not meet federal guidelines for tax benefits
what type of insurance should a company purchase if it wants to insure the life of
its CEO - ANSWER- key person insurance
All of the following are tax qualified retirement plan except - ANSWER- section
529 plan
, A consumer report used to determine eligibility - ANSWER- medical underwriting
exam
Which type of receipt makes the insurer liable for the risk from the date of
application, regardless of the applicant's insurability? - ANSWER- Binding receipt
When does insurable interest come into play in a life insurance policy? -
ANSWER- when the applicant for the policy is not the insured
which is a primary difference between individual and group health insurance -
ANSWER- Individual insurance requires evidence of insurability.
In a Level term life policy, which always remains constant? - ANSWER- death
benefit
which part of an insurance contract contains the promise to pay losses covered by
the policy in exchange for the insured's premium and compliance with policy
terms? - ANSWER- insuring clause
In a home healthcare benefit, all of the following are eligible expenses EXCEPT -
ANSWER- blood transfusions
in noncontributory plans, which percentage of eligible members must participate? -
ANSWER- 1
How are issues of ambiguity usually resolved because insurance contracts are
contracts of adhesion? - ANSWER- In favor of the insured because the insurance
company drafts the language in the contract.
