PSI Practice Exam
"Person" means all of the following EXCEPT - ANS-an organizational trust
A claimant can be any of the following EXCEPT - ANS-a person who is conducting an
investigation of a claim on behalf of an insurer.
A policy with a life insurance benefit for a disabled employee includes an extension of
benefits upon its discontinuance when all of the following are met EXCEPT -
ANS-during a 30 day period in which to accept the terms of the new policy
According to CIC Section 1711, an organization ceases to exist as an entity eligible to
hold a license EXCEPT - ANS-upon the termination of all contracts.
According to the Administrative Procedures Act, what is required to make changes to
the California Insurance Code? - ANS-The Department of Insurance is required to
publish proposed changes at least 45 days prior to the hearing or decision to adopt the
change
After what time period is the policy considered to have been delivered in an acceptable
way if premiums have been paid? - ANS-after 6 months if the premiums have been paid
All of the following are a duty of an insurer in regards to claims on file and record
documentation EXCEPT - ANS-maintaining any sales material, which had a material
impact on the claims process.
All of the following are examples of misrepresentations that may not be made by an
insurer, officer or agent thereof or an insurance broker or solicitor EXCEPT - ANS-the
specific contract language
All of the following are to be specified in an insurance policy EXCEPT - ANS-the
financial rating of the insured
All of the following are TRUE about the rules regarding the sale of life insurance and
annuities to seniors age 65 or older EXCEPT - ANS-the agent, broker or insurer is
required to show a copy of their insurance license with name, address, and phone
number when conducting business in the senior's home.
, All of the following are TRUE regarding regulation and use of an agency name EXCEPT
- ANS-a name would not be denied on the basis of being too similar to other company
names
ALL of the following are TRUE regarding the process to change the California Code of
Regulations EXCEPT - ANS-the Office of Administrative Law (OAL) may substitute its
own judgment for that of the rulemaking agency
All of the following are types of licenses EXCEPT - ANS-accident and health solicitor
All of the following conditions provide a basis for group life insurance coverage EXCEPT
- ANS-amounts of insurance may be selected as needed per individuals personal need
All the following are requirements for an agent who advertises and transacts business
on the Internet EXCEPT - ANS-his or her most recent license and appointment date
An "insurance agent" means a person authorized, by and on behalf of an insurer, to
transact which of the following class of insurance? - ANS-Annuities
An agent or representative who issues long term care insurance must do all of the
following EXCEPT - ANS-complete a total of 10 hours of continuing education if
licensed before January 1st, 2002
An insurance agent is a person who transacts all of the following types of insurance
EXCEPT - ANS-life insurance
Are dependents eligible for any premium refunds or dividends paid under any policy of
group disability insurance? - ANS-Yes, insured employees are generally eligible as well
as their dependents.
Can any life insurer issue group life insurance with premium rates less than the usual
rates for such insurance? - ANS-Yes, they may do so on any group plan, with or without
annuities
Concealment, whether intentional or unintentional, entitles the injured party to? -
ANS-Rescind insurance.
How does insurance written under a franchise agreement or on a wholesale basis differ
from standard group insurance? - ANS-Premiums for the coverage under a franchise
agreement may be written for more than the usual rates for such insurance.
"Person" means all of the following EXCEPT - ANS-an organizational trust
A claimant can be any of the following EXCEPT - ANS-a person who is conducting an
investigation of a claim on behalf of an insurer.
A policy with a life insurance benefit for a disabled employee includes an extension of
benefits upon its discontinuance when all of the following are met EXCEPT -
ANS-during a 30 day period in which to accept the terms of the new policy
According to CIC Section 1711, an organization ceases to exist as an entity eligible to
hold a license EXCEPT - ANS-upon the termination of all contracts.
According to the Administrative Procedures Act, what is required to make changes to
the California Insurance Code? - ANS-The Department of Insurance is required to
publish proposed changes at least 45 days prior to the hearing or decision to adopt the
change
After what time period is the policy considered to have been delivered in an acceptable
way if premiums have been paid? - ANS-after 6 months if the premiums have been paid
All of the following are a duty of an insurer in regards to claims on file and record
documentation EXCEPT - ANS-maintaining any sales material, which had a material
impact on the claims process.
All of the following are examples of misrepresentations that may not be made by an
insurer, officer or agent thereof or an insurance broker or solicitor EXCEPT - ANS-the
specific contract language
All of the following are to be specified in an insurance policy EXCEPT - ANS-the
financial rating of the insured
All of the following are TRUE about the rules regarding the sale of life insurance and
annuities to seniors age 65 or older EXCEPT - ANS-the agent, broker or insurer is
required to show a copy of their insurance license with name, address, and phone
number when conducting business in the senior's home.
, All of the following are TRUE regarding regulation and use of an agency name EXCEPT
- ANS-a name would not be denied on the basis of being too similar to other company
names
ALL of the following are TRUE regarding the process to change the California Code of
Regulations EXCEPT - ANS-the Office of Administrative Law (OAL) may substitute its
own judgment for that of the rulemaking agency
All of the following are types of licenses EXCEPT - ANS-accident and health solicitor
All of the following conditions provide a basis for group life insurance coverage EXCEPT
- ANS-amounts of insurance may be selected as needed per individuals personal need
All the following are requirements for an agent who advertises and transacts business
on the Internet EXCEPT - ANS-his or her most recent license and appointment date
An "insurance agent" means a person authorized, by and on behalf of an insurer, to
transact which of the following class of insurance? - ANS-Annuities
An agent or representative who issues long term care insurance must do all of the
following EXCEPT - ANS-complete a total of 10 hours of continuing education if
licensed before January 1st, 2002
An insurance agent is a person who transacts all of the following types of insurance
EXCEPT - ANS-life insurance
Are dependents eligible for any premium refunds or dividends paid under any policy of
group disability insurance? - ANS-Yes, insured employees are generally eligible as well
as their dependents.
Can any life insurer issue group life insurance with premium rates less than the usual
rates for such insurance? - ANS-Yes, they may do so on any group plan, with or without
annuities
Concealment, whether intentional or unintentional, entitles the injured party to? -
ANS-Rescind insurance.
How does insurance written under a franchise agreement or on a wholesale basis differ
from standard group insurance? - ANS-Premiums for the coverage under a franchise
agreement may be written for more than the usual rates for such insurance.
