PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM QUESTIONS AND
ANSWERS 2024/2025 LATEST UPDATED A COMPLETE
SOLUTION ALL ANSWERS 100% CORRECT DETAILED BEST
GRADED A+ FOR PASS
Which of the following may be insured against?
1
Disability.
2
Accidental death.
3
Wagering losses.
4
Catastrophic losses. - CORRECT ANSWERS 3
Wagering losses.
When is it allowable for a written application for any disability policy to be altered?
1
by the insurer, for administrative purposes only, when it is clear that the applicant has not made the
insertions
2
by the agent who notices an error that is in disagreement with written information on file for that
applicant
3
by an agent who verbally notifies the insured, for commission adjustments, of the reasons for the
suggested alterations
4
by the insurer, to record such changes as to modify the application to meet all requirements of the
California Insurance Code - CORRECT ANSWERS 1
,PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM QUESTIONS AND
ANSWERS 2024/2025 LATEST UPDATED A COMPLETE
SOLUTION ALL ANSWERS 100% CORRECT DETAILED BEST
GRADED A+ FOR PASS
by the insurer, for administrative purposes only, when it is clear that the applicant has not made the
insertions
Which is an ACCURATE statement regarding dependent coverage under a group insurance policy?
1
The coverage lasts from birth until age 18.
2
The coverage must not exceed more than 50 percent of the coverage for the insured employee.
3
The coverage must not exceed more than 100 percent of the coverage for the insured employee.
4
The coverage is not intended to cover preexisting medical conditions for the proposed dependent. -
CORRECT ANSWERS 3
The coverage must not exceed more than 100 percent of the coverage for the insured employee.
When a replacement policy is being considered, what is required from an insurer?
1
A notarized statement acknowledging reasons for replacement and identification information, signed by
the applicant and the agent are required.
2
A price comparison breaking down the cost of the new coverage and the coverage that it will replace,
including annual dividend statements is required to avoid penalties.
3
The agent is required to send a replacement notice within 60 days of the application to the insurer for
any existing coverage that may be replaced by the new policy.
,PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM QUESTIONS AND
ANSWERS 2024/2025 LATEST UPDATED A COMPLETE
SOLUTION ALL ANSWERS 100% CORRECT DETAILED BEST
GRADED A+ FOR PASS
4
A list of existing policies, replacement notice signed by the applicant and the agent, and a notice sent to
any existing insurers that replacement is possible are all requirements. - CORRECT ANSWERS A list
of existing policies, replacement notice signed by the applicant and the agent, and a notice sent to any
existing insurers that replacement is possible are all requirements.
How can a licensee surrender any license for cancellation?
1
By posting a written statement on their website.
2
By calling the Department of Insurance and advising them verbally.
3
By submitting written notice or by delivering the license to the commissioner.
4
By submitting written notice to all contracted insurers and existing policyholders. - CORRECT
ANSWERS 3
By submitting written notice or by delivering the license to the commissioner.
Which form of negotiation is covered under the definition of "transact" as applied to insurance?
1
Negotiations on contract modifications.
2
Negotiations regarding an agent contract/
3
Negotiations following execution.
, PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM QUESTIONS AND
ANSWERS 2024/2025 LATEST UPDATED A COMPLETE
SOLUTION ALL ANSWERS 100% CORRECT DETAILED BEST
GRADED A+ FOR PASS
4
Negotiations preliminary to execution. - CORRECT ANSWERS 4
Negotiations preliminary to execution.
Which of the following provisions of free insurance offered as an incentive to purchase or rent property
is TRUE?
1
It is permitted with no charge.
2
It requires a separate charge or fee.
3
If offered as a guarantee of the performance of goods, it is prohibited.
4
If issued by credit unions or with newspaper subscriptions, it is limited under Statute 777.2. -
CORRECT ANSWERS 2
It requires a separate charge or fee.
When is a person acting as a licensee allowed to act as an agent of the insurer?
1
when the agent has completed the licensing paperwork and submitted it to the insurer
2
when the insurer has filed with the commissioner a notice of appointment
3
when the insurer has provided the agent with applications
ANSWERS 2024/2025 LATEST UPDATED A COMPLETE
SOLUTION ALL ANSWERS 100% CORRECT DETAILED BEST
GRADED A+ FOR PASS
Which of the following may be insured against?
1
Disability.
2
Accidental death.
3
Wagering losses.
4
Catastrophic losses. - CORRECT ANSWERS 3
Wagering losses.
When is it allowable for a written application for any disability policy to be altered?
1
by the insurer, for administrative purposes only, when it is clear that the applicant has not made the
insertions
2
by the agent who notices an error that is in disagreement with written information on file for that
applicant
3
by an agent who verbally notifies the insured, for commission adjustments, of the reasons for the
suggested alterations
4
by the insurer, to record such changes as to modify the application to meet all requirements of the
California Insurance Code - CORRECT ANSWERS 1
,PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM QUESTIONS AND
ANSWERS 2024/2025 LATEST UPDATED A COMPLETE
SOLUTION ALL ANSWERS 100% CORRECT DETAILED BEST
GRADED A+ FOR PASS
by the insurer, for administrative purposes only, when it is clear that the applicant has not made the
insertions
Which is an ACCURATE statement regarding dependent coverage under a group insurance policy?
1
The coverage lasts from birth until age 18.
2
The coverage must not exceed more than 50 percent of the coverage for the insured employee.
3
The coverage must not exceed more than 100 percent of the coverage for the insured employee.
4
The coverage is not intended to cover preexisting medical conditions for the proposed dependent. -
CORRECT ANSWERS 3
The coverage must not exceed more than 100 percent of the coverage for the insured employee.
When a replacement policy is being considered, what is required from an insurer?
1
A notarized statement acknowledging reasons for replacement and identification information, signed by
the applicant and the agent are required.
2
A price comparison breaking down the cost of the new coverage and the coverage that it will replace,
including annual dividend statements is required to avoid penalties.
3
The agent is required to send a replacement notice within 60 days of the application to the insurer for
any existing coverage that may be replaced by the new policy.
,PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM QUESTIONS AND
ANSWERS 2024/2025 LATEST UPDATED A COMPLETE
SOLUTION ALL ANSWERS 100% CORRECT DETAILED BEST
GRADED A+ FOR PASS
4
A list of existing policies, replacement notice signed by the applicant and the agent, and a notice sent to
any existing insurers that replacement is possible are all requirements. - CORRECT ANSWERS A list
of existing policies, replacement notice signed by the applicant and the agent, and a notice sent to any
existing insurers that replacement is possible are all requirements.
How can a licensee surrender any license for cancellation?
1
By posting a written statement on their website.
2
By calling the Department of Insurance and advising them verbally.
3
By submitting written notice or by delivering the license to the commissioner.
4
By submitting written notice to all contracted insurers and existing policyholders. - CORRECT
ANSWERS 3
By submitting written notice or by delivering the license to the commissioner.
Which form of negotiation is covered under the definition of "transact" as applied to insurance?
1
Negotiations on contract modifications.
2
Negotiations regarding an agent contract/
3
Negotiations following execution.
, PSI LIFE, ACCIDENT, HEALTH PRACTICE EXAM QUESTIONS AND
ANSWERS 2024/2025 LATEST UPDATED A COMPLETE
SOLUTION ALL ANSWERS 100% CORRECT DETAILED BEST
GRADED A+ FOR PASS
4
Negotiations preliminary to execution. - CORRECT ANSWERS 4
Negotiations preliminary to execution.
Which of the following provisions of free insurance offered as an incentive to purchase or rent property
is TRUE?
1
It is permitted with no charge.
2
It requires a separate charge or fee.
3
If offered as a guarantee of the performance of goods, it is prohibited.
4
If issued by credit unions or with newspaper subscriptions, it is limited under Statute 777.2. -
CORRECT ANSWERS 2
It requires a separate charge or fee.
When is a person acting as a licensee allowed to act as an agent of the insurer?
1
when the agent has completed the licensing paperwork and submitted it to the insurer
2
when the insurer has filed with the commissioner a notice of appointment
3
when the insurer has provided the agent with applications
