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PSI - NY LIFE, ACCIDENT AND HEALTH PRACTICE EXAM 17-55 QUESTIONS AND CORRECT VERIFIED ANSWERS

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PSI - NY LIFE, ACCIDENT AND HEALTH PRACTICE EXAM 17-55 QUESTIONS AND CORRECT VERIFIED ANSWERS

Institution

New York State Auto Damage And Theft

Course

New York State Auto Damage and Theft

Content preview

PSI - NY LIFE, ACCIDENT AND HEALTH
PRACTICE EXAM 17-55 QUESTIONS AND
CORRECT VERIFIED ANSWERS
WhichA2policyA2provisionA2permitsA2theA2policyA2ownerA2toA2takeA2aA2specifiedA2numberA2
ofA2daysA2toA2examineA2theA2contract,A2andA2allowsA2forA2cancellationA2andA2aA2fullA2refun
dA2ifA2theA2policyA2ownerA2rejectsA2theA2termsA2orA2costs?A2-A2Ans--FreeA2Look

WhenA2willA2aA2policyA2payA2onA2aA2UCRA2basis?A2-A2Ans--
WhenA2particularA2benefitsA2areA2notA2listedA2onA2aA2paymentA2schedule

WhichA2typeA2ofA2riderA2reimbursesA2healthA2andA2socialA2serviceA2expensesA2incurredA2i
nA2aA2convalescentA2orA2nursingA2homeA2facility?A2-A2Ans--longA2termA2careA2rider

WhichA2ofA2theA2followingA2isA2exemptedA2fromA2theA2incontestabilityA2provisionA2inA2insur
anceA2policies?A2-A2Ans--FraudulentA2misstatements

WhatA2doesA2firstA2dollarA2coverageA2mean?A2-A2Ans--
AsA2soonA2asA2coveredA2medicalA2expensesA2areA2incurred,A2theA2policyA2beginsA2toA2pay

WhatA2isA2theA2waiverA2ofA2premiumA2provision?A2-A2Ans--
InA2aA2longA2termA2careA2contract,A2theA2premiumA2isA2waivedA2afterA2theA2insuredA2hasA2b
eenA2confinedA2forA2aA2specificA2periodA2ofA2time

AccordingA2toA2theA2TimeA2PaymentA2ofA2ClaimsA2provision,A2theA2insurerA2mustA2makeA2t
heA2paymentA2immediatelyA2afterA2receivingA2proofA2ofA2lossA2EXCEPTA2-A2Ans--
forA2claimsA2involvingA2periodicA2payments

WhichA2isA2aA2disadvantageA2toA2aA2flexibleA2premiumA2annuity?A2-A2Ans--
theA2actualA2amountA2ofA2theA2annuityA2benefitA2cannotA2beA2determinedA2inA2advance

WhenA2aA2policyA2orA2certificateA2containingA2anA2acceleratedA2benefitA2provisionA2isA2app
liedA2forA2orA2delivered,A2theA2producerA2isA2responsibleA2forA2providingA2thatA2applicantA2
aA2summaryA2ofA2coverageA2thatA2includesA2allA2ofA2theA2followingA2EXCEPTA2-A2Ans--
aA2detailedA2andA2comprehensiveA2summaryA2ofA2theA2acceleratedA2benefit

whichA2oneA2ofA2theA2followingA2representsA2anA2advantageA2ofA2obtainingA2aA2policyA2loa
nA2versusA2aA2withdrawal?A2-A2Ans--
theA2loanA2isA2notA2taxedA2whileA2aA2withdrawalA2isA2taxedA2forA2amountsA2aboveA2theA2co
ntractA2costA2basis

HowA2doesA2aA2noncancelableA2policyA2differA2fromA2aA2guaranteedA2renewableA2policy?
A2-A2Ans--

, withA2theA2nonA2cancelableA2policyA2theA2insurerA2mayA2increaseA2premiumsA2onlyA2base
dA2onA2theA2termsA2ofA2theA2policy

WhatA2doesA2itA2meanA2ifA2aA2healthA2policyA2isA2conditionallyA2renewable?A2-A2Ans--
InsurerA2mayA2electA2NOTA2toA2renewA2onlyA2underA2theA2conditionsA2specifiedA2inA2theA2
policy

WhenA2theA2suicideA2clauseA2isA2insertedA2inA2aA2lifeA2insuranceA2contract,A2deathA2byA2su
icideA2isA2notA2coveredA2duringA2theA2policy'sA2initial:A2-A2Ans--2A2yearA2period

WhatA2doesA2coinsuranceA2mean?A2-A2Ans--
TheA2insurerA2andA2theA2insuredA2shareA2expensesA2overA2theA2deductible.

WhichA2ofA2theA2followingA2mustA2beA2givenA2toA2theA2insurerA2withinA220A2daysA2afterA2oc
currenceA2orA2commencementA2ofA2anyA2lossA2coveredA2byA2theA2policy,A2orA2asA2soonA2t
hereafterA2asA2isA2reasonablyA2possible?A2-A2Ans--NoticeA2ofA2claim

TheA2rightA2toA2changeA2theA2beneficiaryA2orA2disposeA2ofA2theA2policyA2orA2itsA2benefitsA2i
nA2anyA2mannerA2oneA2choosesA2isA2reservedA2toA2theA2policyA2ownerA2UNLESSA2whichA2
ofA2theA2followingA2isA2true?A2-A2Ans--
TheA2policyA2ownerA2hasA2namedA2anA2irrevocableA2beneficiary

WhichA2ofA2theA2followingA2refersA2toA2howA2oftenA2aA2premiumA2isA2paid?A2-A2Ans--Mode

AllA2ofA2theA2followingA2areA2commonA2exclusionsA2fromA2lossA2foundA2inA2disabilityA2inco
meA2policiesA2EXCEPTA2forA2thatA2incurredA2whileA2-A2Ans--CommittingA2aA2misdemeanor

AtA2whichA2pointA2areA2contractualA2deathA2benefitA2settlementA2optionsA2determinedA2an
dA2byA2whomA2areA2theyA2determined?A2-A2Ans--
AtA2theA2timeA2theA2policyA2isA2purchasedA2byA2theA2ownerA2ofA2theA2policy

AllA2ofA2theA2followingA2areA2ownershipA2rightsA2EXCEPTA2-A2Ans--
SwitchingA2theA2policyA2fromA2oneA2insuredA2toA2another

AllA2ofA2theA2followingA2areA2TRUEA2regardingA2incompleteA2applicationsA2EXCEPTA2-
A2Ans--
TheA2incompleteA2applicationA2canA2beA2acceptedA2withA2theA2missingA2informationA2adde
dA2later

AA2consumerA2reportA2usedA2toA2determineA2eligibilityA2forA2insuranceA2mayA2includeA2allA
2ofA2theA2followingA2EXCEPTA2-A2Ans--MedicalA2underwritingA2exam

AllA2ofA2theA2followingA2areA2requiredA2signaturesA2onA2aA2lifeA2insuranceA2applicationA2EX
CEPTA2-A2Ans--TheA2minorA2inA2aA2juvenileA2policy

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Institution: New York State Auto Damage and Theft
Course: New York State Auto Damage and Theft

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Uploaded on: June 21, 2026
Number of pages: 6
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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psi ny life accident and health practice exam 1

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PSI - NY LIFE, ACCIDENT AND HEALTH PRACTICE EXAM 17-55 QUESTIONS AND CORRECT VERIFIED ANSWERS

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