CA PSI LIFE ACCIDENT AND HEALTH EXAM 4
COMPREHENSIVE COURSE REVIEW
◉ Which of the following provisions of free insurance offered as an
incentive to purchase or rent property is TRUE?
Answer: It requires a separate charge or fee.
◉ Which statement accurately describes de-mutualization?
Answer: a mutual insurance company that decides to convert to a
stock company
◉ When should an insurer provide for the continuous operation of a
unit or division to investigate possible fraudulent claims?
Answer: If admitted to do business in this state, except those
otherwise exempted.
◉ A claimant can be any of the following EXCEPT
Answer: a person who is conducting an investigation of a claim on
behalf of an insurer.
◉ When can a person act as an agent of the insurer?
Answer: when the insurer has filed with the commissioner a notice
of appointment
,◉ When working on behalf of an insurer for which they are not
specifically appointed, what may a licensed agent do?
Answer: present a proposal for insurance and transmit an
application to the insurer
◉ What does concealment, whether intentional or unintentional,
entitle the injured party to?
Answer: The insurer may rescind the contract on the basis of
misrepresentation, concealment, or fraud by the insured.
◉ All of the following define insolvency EXCEPT
Answer: revocation of certificate of authority by the commissioner.
◉ Which of the following is TRUE regarding continuing education
requirements of an agent or broker?
Answer: Any licensee shall satisfactorily complete 24 hours of
instruction prior to license renewal.
◉ Which of the following actions is considered part of the insurance
sales process?
Answer: Transaction of matters subsequent to execution of the
contract and arising out of it.
, ◉ All the following are requirements for an agent who advertises
and transacts business on the Internet EXCEPT
Answer: his or her most recent license and appointment date.
◉ A person who does NOT hold a valid license may do which of the
following
Answer: examine contracts of insurance.
◉ As used in the insurance code, the word "shall" is mandatory and
the word "may" is permissive EXCEPT
Answer: unless otherwise apparent from the context.
◉ Which of the following is TRUE regarding the use of fictitious
names for business?
Answer: The actual and fictitious business names must be registered
with the commissioner.
◉ It is unlawful to do any of the following EXCEPT
Answer: make or cause to made a knowingly false or fraudulent or
material representation for the purpose of encouraging an injured
worker to claim benefits.
◉ An insurance agent is a person who transacts all of the following
types of insurance EXCEPT
COMPREHENSIVE COURSE REVIEW
◉ Which of the following provisions of free insurance offered as an
incentive to purchase or rent property is TRUE?
Answer: It requires a separate charge or fee.
◉ Which statement accurately describes de-mutualization?
Answer: a mutual insurance company that decides to convert to a
stock company
◉ When should an insurer provide for the continuous operation of a
unit or division to investigate possible fraudulent claims?
Answer: If admitted to do business in this state, except those
otherwise exempted.
◉ A claimant can be any of the following EXCEPT
Answer: a person who is conducting an investigation of a claim on
behalf of an insurer.
◉ When can a person act as an agent of the insurer?
Answer: when the insurer has filed with the commissioner a notice
of appointment
,◉ When working on behalf of an insurer for which they are not
specifically appointed, what may a licensed agent do?
Answer: present a proposal for insurance and transmit an
application to the insurer
◉ What does concealment, whether intentional or unintentional,
entitle the injured party to?
Answer: The insurer may rescind the contract on the basis of
misrepresentation, concealment, or fraud by the insured.
◉ All of the following define insolvency EXCEPT
Answer: revocation of certificate of authority by the commissioner.
◉ Which of the following is TRUE regarding continuing education
requirements of an agent or broker?
Answer: Any licensee shall satisfactorily complete 24 hours of
instruction prior to license renewal.
◉ Which of the following actions is considered part of the insurance
sales process?
Answer: Transaction of matters subsequent to execution of the
contract and arising out of it.
, ◉ All the following are requirements for an agent who advertises
and transacts business on the Internet EXCEPT
Answer: his or her most recent license and appointment date.
◉ A person who does NOT hold a valid license may do which of the
following
Answer: examine contracts of insurance.
◉ As used in the insurance code, the word "shall" is mandatory and
the word "may" is permissive EXCEPT
Answer: unless otherwise apparent from the context.
◉ Which of the following is TRUE regarding the use of fictitious
names for business?
Answer: The actual and fictitious business names must be registered
with the commissioner.
◉ It is unlawful to do any of the following EXCEPT
Answer: make or cause to made a knowingly false or fraudulent or
material representation for the purpose of encouraging an injured
worker to claim benefits.
◉ An insurance agent is a person who transacts all of the following
types of insurance EXCEPT
