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Exam (elaborations)

Psi Life, Accident, And Health Practice Questions With Complete Answers

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PSI LIFE, ACCIDENT, AND HEALTH PRACTICE QUESTIONS WITH COMPLETE ANSWERS

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Compared to basic hospital, medical and surgical policies, which type of insurance
provides broader coverage, fewer gaps, higher individual benefits, and higher policy
maximums?


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Major medical insurance.




All of the following are classifications of risk EXCEPT?


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Non-nicotine

,Which of the following is characteristic of a non-qualified plan?


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Plan does not meet federal guidelines for tax benefits.




All of the following are characteristics of COBRA EXCEPT?


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Change in medical privacy procedures.




Which of the following is TRUE of an equity-indexed annuity?


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It has a guaranteed minimum interest rate.




Which of the following is true about a decreasing term life policy?


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The face amount reached zero at policy expiration.

, In which of the following does a covered employee agree to a reduction in
compensation so the amount can be used to cover medical expenses?


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Flexible Spending Account (FSA)




What is the waiver of premium provision?


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In a long term care contract, the premium is waived after the insured has
been confined for a specific period of time.




Obtaining consumer information reports under false pretenses is prosecutable by
which of the following?


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Fair Credit Reporting Act




All of the following are characteristics of variable whole life EXCEPT?


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