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PSI LIFE, ACCIDENT, AND HEALTH EXAM
QUESTIONS AND CORRECT ANSWERS
How Long After Being Entitled To Disability Benefits Will An Individual
Be Eligible To Receive Medicare Benefits?
A. Immediately
B. 1 Year
C. 2 Years
D. At Age 65 - Correct Answer - 2 Years
What Is The Return Of Premium Rider?
A. An Increasing Amount Of Term Insurance That Always Equals
The Total Of Premiums Paid Up To The Current Point
B. A Provision That Allows The Insured To Cancel The Policy In
The First Two Years And Have Premiums Refunded
C. An Increasing Amount Of Term Insurance That Equals The
Cash Value Of The Policy At Any Point In Time
D. A Provision That States The Insurer Must Return Any Premiums
Paid During The Free-Look Period - Correct Answer - An Increasing
Amount Of Term Insurance That Always Equals The Total Of
Premiums Paid Up To The Current Point
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In A Home Healthcare Benefit, All Of The Following Are Eligible
Expenses Except
A. Intermittent Part-Time Nursing Care;
B. Physical, Occupational, Or Speech Therapy;
C. Blood Transfusions
D. Medical Social Services; - Correct Answer - Blood Transfusions
All Of The Following Are Classifications Of Risk Except
A. Substandard
B. Preferred
C. Declined
D. Non-Nicotine - Correct Answer - Non-Nicotine
Which Of The Following Is Exempted From The Incontestability
Provision In Insurance Policies?
A. Fraudulent Misstatements
B. Pre-Existing Conditions
C. Change In Health
D. Changes In The Insurance Code - Correct Answer -
Fraudulent Misstatements
A Group Conversion Option May Be Used In All The Following
Instances Except
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A. The Termination Of The Master Policy.
B. Loss Of Coverage Due To Loss Of Employment.
C. Loss Of Eligibility On The Part Of A Class Of Insureds.
D. A Life-Changing Event, Such As Marriage, Divorce, Or
Childbirth. - Correct Answer - A Life-Changing Event, Such As
Marriage, Divorce, Or Childbirth.
Which Of The Following Is Characteristic Of A Non-Qualified Plan?
A. Defined Vesting Schedule
B. Plan Established By The Employer
C. Plan Does Not Meet Federal Guidelines For Tax Benefits
D. Employer Contributions Are Deductible Business Expenses -
Correct Answer - Plan Does Not Meet Federal Guidelines For
Tax Benefits
What Does It Mean If A Health Policy Is Conditionally Renewable?
A. Insurer May Elect Not To Renew Based On The Health Of The
Insured.
B. Insurer May Elect Not To Renew For Any Reason Only On
The Policy Anniversary Or Premium Due Date.
C. Insurer May Elect Not To Renew Only Under Conditions
Specified In The Policy.
D. Insurer May Elect Not To Review If The Insured Exceeds The
Maximum Number Of Claims. - Correct Answer - Insurer May Elect
Not To Renew Only Under Conditions Specified In The Policy.
PSI LIFE, ACCIDENT, AND HEALTH EXAM
QUESTIONS AND CORRECT ANSWERS
How Long After Being Entitled To Disability Benefits Will An Individual
Be Eligible To Receive Medicare Benefits?
A. Immediately
B. 1 Year
C. 2 Years
D. At Age 65 - Correct Answer - 2 Years
What Is The Return Of Premium Rider?
A. An Increasing Amount Of Term Insurance That Always Equals
The Total Of Premiums Paid Up To The Current Point
B. A Provision That Allows The Insured To Cancel The Policy In
The First Two Years And Have Premiums Refunded
C. An Increasing Amount Of Term Insurance That Equals The
Cash Value Of The Policy At Any Point In Time
D. A Provision That States The Insurer Must Return Any Premiums
Paid During The Free-Look Period - Correct Answer - An Increasing
Amount Of Term Insurance That Always Equals The Total Of
Premiums Paid Up To The Current Point
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In A Home Healthcare Benefit, All Of The Following Are Eligible
Expenses Except
A. Intermittent Part-Time Nursing Care;
B. Physical, Occupational, Or Speech Therapy;
C. Blood Transfusions
D. Medical Social Services; - Correct Answer - Blood Transfusions
All Of The Following Are Classifications Of Risk Except
A. Substandard
B. Preferred
C. Declined
D. Non-Nicotine - Correct Answer - Non-Nicotine
Which Of The Following Is Exempted From The Incontestability
Provision In Insurance Policies?
A. Fraudulent Misstatements
B. Pre-Existing Conditions
C. Change In Health
D. Changes In The Insurance Code - Correct Answer -
Fraudulent Misstatements
A Group Conversion Option May Be Used In All The Following
Instances Except
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A. The Termination Of The Master Policy.
B. Loss Of Coverage Due To Loss Of Employment.
C. Loss Of Eligibility On The Part Of A Class Of Insureds.
D. A Life-Changing Event, Such As Marriage, Divorce, Or
Childbirth. - Correct Answer - A Life-Changing Event, Such As
Marriage, Divorce, Or Childbirth.
Which Of The Following Is Characteristic Of A Non-Qualified Plan?
A. Defined Vesting Schedule
B. Plan Established By The Employer
C. Plan Does Not Meet Federal Guidelines For Tax Benefits
D. Employer Contributions Are Deductible Business Expenses -
Correct Answer - Plan Does Not Meet Federal Guidelines For
Tax Benefits
What Does It Mean If A Health Policy Is Conditionally Renewable?
A. Insurer May Elect Not To Renew Based On The Health Of The
Insured.
B. Insurer May Elect Not To Renew For Any Reason Only On
The Policy Anniversary Or Premium Due Date.
C. Insurer May Elect Not To Renew Only Under Conditions
Specified In The Policy.
D. Insurer May Elect Not To Review If The Insured Exceeds The
Maximum Number Of Claims. - Correct Answer - Insurer May Elect
Not To Renew Only Under Conditions Specified In The Policy.
