PSI life, accident, and health Exam 2024/2025 Questions With Completed & Verified Solutions.

PSI life, accident, and health

A basic vision care package includes all of the following EXCEPT
A. safety glasses.
B. the annual eye exam.
C. lenses and frames.
D. contact lenses. - ANS - safety glasses.

A consumer report used to determine eligibility for insurance may include all of the
following EXCEPT
A. character.
B. reputation.
C. credit information.
D. medical underwriting exam. - ANS - medical underwriting exam.

A group conversion option may be used in all the following instances EXCEPT
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. - ANS - a life-changing
event, such as marriage, divorce, or childbirth.

All of the following are characteristics of COBRA EXCEPT
A. qualifying events.
B. notification statements.
C. continuation of coverage.
D. change in medical privacy procedures. - ANS - change in medical privacy procedures.

All of the following are characteristics of variable whole life EXCEPT
A. the premium is level
B. there is no guaranteed cash value
C. there is no guaranteed minimum death benefit.
D. the agent must be licensed in both insurance and securities. - ANS - there is no
guaranteed minimum death benefit.

All of the following are classifications of risk EXCEPT
A. substandard
B. preferred
C. declined
D. non-nicotine - ANS - non-nicotine

, All of the following are common exclusions from loss found in disability income policies
EXCEPT for that incurred while
A. serving in the military
B. living overseas
C. committing a misdemeanor
D. piloting a personal aircraft - ANS - committing a misdemeanor

All of the following are nonforfeiture options EXCEPT
A. Cash surrender value
B. Extended term insurance
C. Reduced paid-up insurance
D. Cash dividend option - ANS - Cash dividend option

All of the following are required signatures on a life insurance application EXCEPT
A. The agent
B. The applicant
C. The minor in a juvenile policy
D. The proposed insured - ANS - The minor in a juvenile policy

All of the following are requirements to qualify for Social Security disability benefits
EXCEPT when
A. credited with the appropriate number of quarters of coverage.
B. total and permanent disabled for at least 5 months.
C. disability expected to last for 12 months or end in death.
D. unable to work in occupation in which the worker was trained or educated. - ANS -
unable to work in occupation in which the worker was trained or educated.

All of the following are tax qualified retirement plans EXCEPT
A. 401(k)
B. 403(b)
C. Section 529 plan
D. SIMPLE IRA - ANS - Section 529 plan

All of the following are TRUE regarding incomplete applications EXCEPT
A. the underwriting department will return the application to the agent.
B. the applicant will have to wait additional time before coverage begins.
C. there will be a delay in the underwriting process.
D. the incomplete application can be accepted with the missing information added later. -
ANS - the incomplete application can be accepted with the missing information added
later.

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