PSI Insurance Exam Questions and Answers

PSI Insurance Exam Questions and Answers Under an individual policy, an insured who CANNOT perform the duties of his/her own occupation for a specific period of time is -Answer-totally disabled. A few small employers in the same industry join together to become eligible for group insurance. The type of health insurance they have created for each other is known as -Answer-Multiple Employer Trust (MET). Which of the following is an example of a moral hazard? -Answer-filing a false insurance claim According to the time of payment of claims provision, the insurer must make the payment immediately after receiving proof of loss EXCEPT -Answer-for claims involving periodic payments. When are dividends paid from a participating policy considered taxable? -Answer-when the amount received exceeds the total amount of premiums paid for the policy Which whole life policy premium type is the most common? -Answer-continuous premium Which of the following is the time limit on certain defenses after which the policy becomes incontestable? -Answer-2 years