_PSI Life Insurance Exam Practice Questions and Study Guide 1 of 34 _PSI Life Insurance Exam Practice Questions and Study Guide.pdf
PSI Life Insurance Exam
Practice Questions and
Study Guide
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
Page 1 of 34 _PSI Life Insurance Exam Practice Questions and Study Guide.pdf 2026-04-03
,PSI life insurance exam 2 of 34 PSI life insurance exam.pdf
Don't know?
Terms in this set (168)
what is meant by referring to an insurance policy as Only one party makes a legally enforceable promise
a unilateral contract?
when must insurance records of insurance agents At all times
and brokers be made available to the insurance
Commissioner
Any situation that presents the possibility of a loss is A loss exposure
known as
Which of the following information is not required Personal judgment
to be communicated in a Life Insurance contract?
Page 2 of 34 PSI life insurance exam.pdf 2026-04-03
,PSI life insurance exam 3 of 34 PSI life insurance exam.pdf
The direct distribution of insurance utilizes all of the Telephone call from an agent
following to promote the sale of insurance EXCEPT
A contract in which one party promises to indemnify An insurance policy
another against loss that arises from an unknown
even is
All of the occurrences listed below area examples An insured suffers a financial loss in the stat lottery
of an insurable event as defined by the California
insurance Code EXCEPT
All of the following statements about aleatory The insured and insurer contribute equally to the contract
contracts are true EXCEPT
All of the following would be considered unfair Committing any act of discrimination whether it be deemed fair or unfair
trade practices EXCEPT
Page 3 of 34 PSI life insurance exam.pdf 2026-04-03
, PSI life insurance exam 4 of 34 PSI life insurance exam.pdf
As authorized by the California Insurance Code, the Mary Brown Insurance Services
Insurance Commissioner has provided standard for
names used by life insurance agents. Under these
standards which, if any, of these following are
automatically acceptable for Mary Brown, a holder
of the CLU designation?
A contract of indemnity is one in which One party is restored to the same financial position the party was in
before the loss occurred
In insurance terminology, "indemnity" means make whole
As defined in the California Insurance Code, is a contract
"Insurance"
What would a person be guilty of who refuses to A misdemeanor
deliver any books, records, or assets to the
commissioner once a seizure order has been
executed?
Page 4 of 34 PSI life insurance exam.pdf 2026-04-03
PSI Life Insurance Exam
Practice Questions and
Study Guide
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_
Page 1 of 34 _PSI Life Insurance Exam Practice Questions and Study Guide.pdf 2026-04-03
,PSI life insurance exam 2 of 34 PSI life insurance exam.pdf
Don't know?
Terms in this set (168)
what is meant by referring to an insurance policy as Only one party makes a legally enforceable promise
a unilateral contract?
when must insurance records of insurance agents At all times
and brokers be made available to the insurance
Commissioner
Any situation that presents the possibility of a loss is A loss exposure
known as
Which of the following information is not required Personal judgment
to be communicated in a Life Insurance contract?
Page 2 of 34 PSI life insurance exam.pdf 2026-04-03
,PSI life insurance exam 3 of 34 PSI life insurance exam.pdf
The direct distribution of insurance utilizes all of the Telephone call from an agent
following to promote the sale of insurance EXCEPT
A contract in which one party promises to indemnify An insurance policy
another against loss that arises from an unknown
even is
All of the occurrences listed below area examples An insured suffers a financial loss in the stat lottery
of an insurable event as defined by the California
insurance Code EXCEPT
All of the following statements about aleatory The insured and insurer contribute equally to the contract
contracts are true EXCEPT
All of the following would be considered unfair Committing any act of discrimination whether it be deemed fair or unfair
trade practices EXCEPT
Page 3 of 34 PSI life insurance exam.pdf 2026-04-03
, PSI life insurance exam 4 of 34 PSI life insurance exam.pdf
As authorized by the California Insurance Code, the Mary Brown Insurance Services
Insurance Commissioner has provided standard for
names used by life insurance agents. Under these
standards which, if any, of these following are
automatically acceptable for Mary Brown, a holder
of the CLU designation?
A contract of indemnity is one in which One party is restored to the same financial position the party was in
before the loss occurred
In insurance terminology, "indemnity" means make whole
As defined in the California Insurance Code, is a contract
"Insurance"
What would a person be guilty of who refuses to A misdemeanor
deliver any books, records, or assets to the
commissioner once a seizure order has been
executed?
Page 4 of 34 PSI life insurance exam.pdf 2026-04-03
