PSI Practice Exam (questions and answers)

Who is eligible to be an insurer? - CORRECT ANSWER-The direct writing distribution model utilizes:Any person, company, organization, or corporation that is capable of making a contract. Which is an INACCURATE statement on the purpose and intent of the Insurance Information and Privacy Protection Act? - CORRECT ANSWER-The Act permits disclosure of insurance underwriting information and claim history records. Which of the following provisions of free insurance offered as an incentive to purchase or rent property is TRUE? - CORRECT ANSWER-It requires a separate charge or fee. Which group of people is offered additional protection by the Unfair Practices Act that regulates trade practices in the business of insurance? - CORRECT ANSWER-survivors of the Holocaust An "insurance agent" means a person authorized, by and on behalf of an insurer, to transact which of the following class of insurance? - CORRECT ANSWER-Annuities Which circumstances in a pretext interview determine if the questions are permissible? - CORRECT ANSWER-When an insured is consulted by a person who hides his true identity on purpose when fraud for a claim is suspected. Which of the following terms refers to any evidence or documentation in the possession of the insurer that provides any evidence of a claim and that reasonably supports the magnitude or the amount of the claimant loss? - CORRECT ANSWER-Proof of claim If fiduciary funds are r