CA PSI-LIFE, ACCIDENT, AND HEALTH OR SICKNESS
PRACTICE EXAM with possible solution
1. Which of the following is TRUE of a point of service plan: A patient's care
is coordinated by an in-network primary care physician.
2. In a Level term life policy, which always remains constant ?: death benefit
3. which part of an insurance contract contains the promise to pay losses
covered by the policy in exchange for the insureds premium and compliance
with policy terms ?: insuring clause
4. In a home healthcare benefit, all of the following are eligible expenses
EXCEPT: blood transfusions
5. in noncontributory plans, which percentage of eligible members must
participate?: 1
6. How are issues of ambiguity usually resolved because insurance contracts are
contracts of adhesion?: In favor of the insured because the insurance company
drafts the language in the contract.
7. Why is the accidental death benefit referred to as double indemnity?: It
provides twice the face value in the policy for death due to accident.
8. which types of rider reimburses health and social service expenses incurred in
a convalescent or nursing home facility: long term care rider
9. All life insurance and health insurance contracts contain all of the following
EXCEPT: representations
10. all of the following are requirements to qualify for social security disability
benefits except when: unable to work in occupation in which the worker was
trained or educated.
11. what is the order in which beneficiaries receive proceeds from a life
insurance policy ?: succession of beneficiaries
1/6
, CA PSI-LIFE, ACCIDENT, AND HEALTH OR SICKNESS PRACTICE EXAM
Study online at https://quizlet.com/_fhfjbs
.
12. If a company provides group disability insurance to its employees, which
of the following may be tax-deductible?: the premiums paid by the company as
a business expense
13. Which annuity settlement option provides a stated monthly amount to the
annuitant and upon the annuitant's death the same or a lesser amount paid for
the lifetime of the survivor?: Joint and survivorship option
14. which of the following policy types is considered double indemnity:
accidental death
15. How long after being entitled to disability benefits will an individual be
eligible to receive Medicare benefits?: 2 years
16. which of the following is an example of a hospital indemnity plan: pays a
fixed amount per day to the insured for each day the insured is hospitalized
17. According to the time of payment of claims provisions, the insurer must
make the payment immediately after receiving proof of loss EXCEPT: For
claims involving periodic payments
18 Which one of the following is particularly important to an insurance
producer to explain to a client upon delivery of a life insurance policy ?: Any
exclusions
19. When would dependent children's benefits for social security disability
payments be scaled back ?: when they cause the family benefit to exceed the
maximum benefit amount
20. In a case where an individual's health is insured by both their own policy
and their spouse's policy, which policy pays in the event of an illness?: The
individual's policy pays first, the spouse's policy pays the remaining up to
coverage amount.
21. What is the waiver of premium provision?: In a long term care contract, the
premium is waived after the insured has been confined for a specific period of
time. 22. what is it called when an insurance company tries to recover from a
different insurance policy all part of its losses results from a claim: subrogation
23. all of the following are features of the spendthrift clause EXCEPT: the
beneficiary may encumber the proceeds
24. which of the following is common in an increasing term life policy ?: It begins
with little or no insurance protection.
2/6
PRACTICE EXAM with possible solution
1. Which of the following is TRUE of a point of service plan: A patient's care
is coordinated by an in-network primary care physician.
2. In a Level term life policy, which always remains constant ?: death benefit
3. which part of an insurance contract contains the promise to pay losses
covered by the policy in exchange for the insureds premium and compliance
with policy terms ?: insuring clause
4. In a home healthcare benefit, all of the following are eligible expenses
EXCEPT: blood transfusions
5. in noncontributory plans, which percentage of eligible members must
participate?: 1
6. How are issues of ambiguity usually resolved because insurance contracts are
contracts of adhesion?: In favor of the insured because the insurance company
drafts the language in the contract.
7. Why is the accidental death benefit referred to as double indemnity?: It
provides twice the face value in the policy for death due to accident.
8. which types of rider reimburses health and social service expenses incurred in
a convalescent or nursing home facility: long term care rider
9. All life insurance and health insurance contracts contain all of the following
EXCEPT: representations
10. all of the following are requirements to qualify for social security disability
benefits except when: unable to work in occupation in which the worker was
trained or educated.
11. what is the order in which beneficiaries receive proceeds from a life
insurance policy ?: succession of beneficiaries
1/6
, CA PSI-LIFE, ACCIDENT, AND HEALTH OR SICKNESS PRACTICE EXAM
Study online at https://quizlet.com/_fhfjbs
.
12. If a company provides group disability insurance to its employees, which
of the following may be tax-deductible?: the premiums paid by the company as
a business expense
13. Which annuity settlement option provides a stated monthly amount to the
annuitant and upon the annuitant's death the same or a lesser amount paid for
the lifetime of the survivor?: Joint and survivorship option
14. which of the following policy types is considered double indemnity:
accidental death
15. How long after being entitled to disability benefits will an individual be
eligible to receive Medicare benefits?: 2 years
16. which of the following is an example of a hospital indemnity plan: pays a
fixed amount per day to the insured for each day the insured is hospitalized
17. According to the time of payment of claims provisions, the insurer must
make the payment immediately after receiving proof of loss EXCEPT: For
claims involving periodic payments
18 Which one of the following is particularly important to an insurance
producer to explain to a client upon delivery of a life insurance policy ?: Any
exclusions
19. When would dependent children's benefits for social security disability
payments be scaled back ?: when they cause the family benefit to exceed the
maximum benefit amount
20. In a case where an individual's health is insured by both their own policy
and their spouse's policy, which policy pays in the event of an illness?: The
individual's policy pays first, the spouse's policy pays the remaining up to
coverage amount.
21. What is the waiver of premium provision?: In a long term care contract, the
premium is waived after the insured has been confined for a specific period of
time. 22. what is it called when an insurance company tries to recover from a
different insurance policy all part of its losses results from a claim: subrogation
23. all of the following are features of the spendthrift clause EXCEPT: the
beneficiary may encumber the proceeds
24. which of the following is common in an increasing term life policy ?: It begins
with little or no insurance protection.
2/6
