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CA LIFE EXAM - PSI QUESTIONS WITH
ANSWERS
According to Social Security, an individual with six credits of coverage during the
previous 13-quarter period is considered to be-correct-answer-Currently insured
The "blackout period" affects whose benefits?-correct-answer-Surviving spouse
What is considered to be the definition of disability, according to social security?-
correct-answer-Unable to engage in any substantial gainful activity
What determines the Social Security normal retirement age?-correct-answer-Year
in which worker was born
Which statement is not true regarding Social Security benefits?-correct-answer-
Benefits are designed to replace the entire amount of the workers earnings
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At what age is a surviving spouse without dependents eligible for Social Security
survivor benefits?-correct-answer-60
In order to be considered "currently insured" under Social Security, an individual
must be credited with:-correct-answer-6 quarters of coverage during the last 13-
quarter period
A worker is entitled to Social Security disability benefits if all of the following are
true EXCEPT for-correct-answer-Worker cannot perform his or her current job, but
is actively seeking other employment
According to the California Insurance Code, what is "insurance"?-correct-answer-
A contract
A representation may be altered or withdrawn-correct-answer-only before the
insurance is in effect
The California insurance code has authorized standards for names used by life
insurance agents. Which of the following, if any, are automatically acceptable for
Lance Manyon, a holder of the CLU designation?-correct-answer-Lance Manyon
insurance services
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When intentional concealment is involved, what course of action is the injured
party entitled to?-correct-answer-Recession of the contract
Which of the following is NOT protected under the California life and health
guarantee association?-correct-answer-Insurers
Which of the following is NOT a primary objective of insurance regulation?-
correct-answer-Interpret policy provisions
What does the term "indemnity" mean as it pertains to insurance?-correct-
answer-To make whole
Which of the following is NOT considered to be an unfair claims settlement
practice?-correct-answer-Advising a claimant to hire an attorney
How long must life agents keep the transaction records?-correct-answer-5 years
CA LIFE EXAM - PSI QUESTIONS WITH
ANSWERS
According to Social Security, an individual with six credits of coverage during the
previous 13-quarter period is considered to be-correct-answer-Currently insured
The "blackout period" affects whose benefits?-correct-answer-Surviving spouse
What is considered to be the definition of disability, according to social security?-
correct-answer-Unable to engage in any substantial gainful activity
What determines the Social Security normal retirement age?-correct-answer-Year
in which worker was born
Which statement is not true regarding Social Security benefits?-correct-answer-
Benefits are designed to replace the entire amount of the workers earnings
,2|Page
At what age is a surviving spouse without dependents eligible for Social Security
survivor benefits?-correct-answer-60
In order to be considered "currently insured" under Social Security, an individual
must be credited with:-correct-answer-6 quarters of coverage during the last 13-
quarter period
A worker is entitled to Social Security disability benefits if all of the following are
true EXCEPT for-correct-answer-Worker cannot perform his or her current job, but
is actively seeking other employment
According to the California Insurance Code, what is "insurance"?-correct-answer-
A contract
A representation may be altered or withdrawn-correct-answer-only before the
insurance is in effect
The California insurance code has authorized standards for names used by life
insurance agents. Which of the following, if any, are automatically acceptable for
Lance Manyon, a holder of the CLU designation?-correct-answer-Lance Manyon
insurance services
, 3|Page
When intentional concealment is involved, what course of action is the injured
party entitled to?-correct-answer-Recession of the contract
Which of the following is NOT protected under the California life and health
guarantee association?-correct-answer-Insurers
Which of the following is NOT a primary objective of insurance regulation?-
correct-answer-Interpret policy provisions
What does the term "indemnity" mean as it pertains to insurance?-correct-
answer-To make whole
Which of the following is NOT considered to be an unfair claims settlement
practice?-correct-answer-Advising a claimant to hire an attorney
How long must life agents keep the transaction records?-correct-answer-5 years
