PSI Life Advanced Complete Study
Test.
1. What kind of retirement plan can a 75-
Simple IRA
employee for profit corporation establish?
2. The taxable portion of a monthly income benefit paid Exclusion
ratio
during the annuity phase from a nonqualified
annuity is calculated using the
3. Unfair claims settlement methods and practices by an failure to pay
all claims
insurance company include all of the that are reported within 90
following acts EXCEPT days after a loss
occurs
4. The settlement option that allows proceeds to remain
Interest only with the insurer and the earnings to be
paid to the beneficiary on a monthly basis is called
5. Regulations on life insurance advertising A radio commercial
apply to which of the following insurance that promotes the
company materials? benefits of a specific
company's life in-
surance products
6. An insurance company may contest a life 2
policy with- in a MAXIMUM of how many years
after the policy's effective date?
7. All of the following factors are used in life Morbidity
insurance premium determination EXCEPT
8. The authorization used to obtain the applicant's med- the time
frame in which
ical information that will be used by the insurer for
, PSI Life Advanced Complete Study
Test.
the primary purpose of determining the insurer must release the
eligibility must include: eligibility decision to
the agent
9. Misrepresentation
, PSI Life Advanced Complete Study
Test.
An intermediary who omits information on an
insur- ance application without the applicant's
knowledge and submits the application to the
insurer may be guilty of:
10. Dividends are NOT subject to taxation because Paying dividends is
equiv-
alent to returning a premi-
um
11. The XYZ Insurance Company cancels an 17. Statement
intermedi- ary's contract. XYZ could be bound s by an
by the intermedi- ary's later acts if it: applicatio
n
12. Which of the following products is concernin
designed to pay benefits that can provide g personal
a stream of retirement in- come to the health
purchaser? history,
family
13. Which of the following guarantees that the
health
annuitant CANNOT outlive their benefits?
history,
14. Which of the following statements is CORRECT occupation,
about an insured's failure to report a claim in and
a timely man- ner based on the advice of an hobbies
intermediary? are
referred to
15. In Wisconsin, an "intermediary" is defined as a as
repre- sentative of:
16. All of the following statements regarding a
group an- nuity are correct EXCEPT
Test.
1. What kind of retirement plan can a 75-
Simple IRA
employee for profit corporation establish?
2. The taxable portion of a monthly income benefit paid Exclusion
ratio
during the annuity phase from a nonqualified
annuity is calculated using the
3. Unfair claims settlement methods and practices by an failure to pay
all claims
insurance company include all of the that are reported within 90
following acts EXCEPT days after a loss
occurs
4. The settlement option that allows proceeds to remain
Interest only with the insurer and the earnings to be
paid to the beneficiary on a monthly basis is called
5. Regulations on life insurance advertising A radio commercial
apply to which of the following insurance that promotes the
company materials? benefits of a specific
company's life in-
surance products
6. An insurance company may contest a life 2
policy with- in a MAXIMUM of how many years
after the policy's effective date?
7. All of the following factors are used in life Morbidity
insurance premium determination EXCEPT
8. The authorization used to obtain the applicant's med- the time
frame in which
ical information that will be used by the insurer for
, PSI Life Advanced Complete Study
Test.
the primary purpose of determining the insurer must release the
eligibility must include: eligibility decision to
the agent
9. Misrepresentation
, PSI Life Advanced Complete Study
Test.
An intermediary who omits information on an
insur- ance application without the applicant's
knowledge and submits the application to the
insurer may be guilty of:
10. Dividends are NOT subject to taxation because Paying dividends is
equiv-
alent to returning a premi-
um
11. The XYZ Insurance Company cancels an 17. Statement
intermedi- ary's contract. XYZ could be bound s by an
by the intermedi- ary's later acts if it: applicatio
n
12. Which of the following products is concernin
designed to pay benefits that can provide g personal
a stream of retirement in- come to the health
purchaser? history,
family
13. Which of the following guarantees that the
health
annuitant CANNOT outlive their benefits?
history,
14. Which of the following statements is CORRECT occupation,
about an insured's failure to report a claim in and
a timely man- ner based on the advice of an hobbies
intermediary? are
referred to
15. In Wisconsin, an "intermediary" is defined as a as
repre- sentative of:
16. All of the following statements regarding a
group an- nuity are correct EXCEPT
