CALIFORNIA PSI LIFE INSURANCE NEWEST ACTUAL 2025/2026
EXAM WITH COMPLETE QUESTIONS WITH ANSWERS
/VERIFIED/GRADED A+
All of the following are to be specified in an insurance policy
EXCEPT
The financial rating of the insured.
How can a licensee surrender any license for cancellation?
By submitted written notice or by delivering the license to the
commissioner
How is an insurance policy defined?
The written instrument, in which a contract of insurance is set
forth
When may a surplus line broker solicit and place insurance for a
home state insured with a nonadmitted insurer?
,If the same insurance coverage cannot be produced from an
admitted insurer.
How does an "admitted" person differ from an "non-admitted"
person, as it pertains to insurance?
An "admitted" person has the right to transact insurance
business within the state, while a "non admitted" person is not
entitled to this action.
All of the following conditions provide a basis for group life
insurance coverage EXCEPT
amounts of insurance may be selected as needed per individuals
personal need.
Which is an INACCURATE statement regarding underwriting
based on genetic testing?
The proposed insured must pay for the cost of the testing.
Which of the following can the insurer do if the insured
intentionally conceal or misrepresents a material fact
concerning any coverage part?
, Rescind the contract
Which of the following is TRUE of the conversion privileges for
the insured in group life insurance?
The option to name a new beneficiary can be exercised by the
owner.
What are the requirements for notices required by any provision
of the insurance code to a person unless expressly provided
otherwise?
They should be sent to a mailing notice at their residence or
place of business.
Which of the following is a party to a contract of insurance bound
to communicate EXCEPT
those which the other would know by retaining a consultant with
specialized knowledge in insurance matters.
While both work with an insurer, how does an "insurance broker"
differ from an "insurance agent"?
EXAM WITH COMPLETE QUESTIONS WITH ANSWERS
/VERIFIED/GRADED A+
All of the following are to be specified in an insurance policy
EXCEPT
The financial rating of the insured.
How can a licensee surrender any license for cancellation?
By submitted written notice or by delivering the license to the
commissioner
How is an insurance policy defined?
The written instrument, in which a contract of insurance is set
forth
When may a surplus line broker solicit and place insurance for a
home state insured with a nonadmitted insurer?
,If the same insurance coverage cannot be produced from an
admitted insurer.
How does an "admitted" person differ from an "non-admitted"
person, as it pertains to insurance?
An "admitted" person has the right to transact insurance
business within the state, while a "non admitted" person is not
entitled to this action.
All of the following conditions provide a basis for group life
insurance coverage EXCEPT
amounts of insurance may be selected as needed per individuals
personal need.
Which is an INACCURATE statement regarding underwriting
based on genetic testing?
The proposed insured must pay for the cost of the testing.
Which of the following can the insurer do if the insured
intentionally conceal or misrepresents a material fact
concerning any coverage part?
, Rescind the contract
Which of the following is TRUE of the conversion privileges for
the insured in group life insurance?
The option to name a new beneficiary can be exercised by the
owner.
What are the requirements for notices required by any provision
of the insurance code to a person unless expressly provided
otherwise?
They should be sent to a mailing notice at their residence or
place of business.
Which of the following is a party to a contract of insurance bound
to communicate EXCEPT
those which the other would know by retaining a consultant with
specialized knowledge in insurance matters.
While both work with an insurer, how does an "insurance broker"
differ from an "insurance agent"?
