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Exam (elaborations)

CALIFORNIA PSI LIFE INSURANCE EXAM QUESTIONS WITH CORRECT ANSWERS 2025

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CALIFORNIA PSI LIFE INSURANCE EXAM QUESTIONS WITH CORRECT ANSWERS 2025

Institution
PSI Life
Course
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Institution
PSI life
Course
PSI life

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Uploaded on
February 6, 2025
Number of pages
11
Written in
2024/2025
Type
Exam (elaborations)
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CALIFORNIA PSI LIFE INSURANCE EXAM
QUESTIONS WITH CORRECT ANSWERS
2025
WhenUisUaUrepresentationUfalse?U-UCORRECTUANSWERU-
whenUtheUfactsUfailUtoUcorrespondUwithUitsUassertionsUorUstipulations



WhichUofUtheUfollowingUisUTRUEUregardingUtheUuseUofUfictitiousUnamesUforUbusiness?U-
UCORRECTUANSWERU-

TheUactualUandUfictitiousUbusinessUnamesUmustUbeUregisteredUwithUtheUcommissioner



WhichUisUanUACCURATEUstatementUregardingUdependentUcoverageUunderUaUgroupUinsuranceUpolicy?U-
UCORRECTUANSWERU-

TheUcoverageUmustUnotUexceedUmoreUthanU100UpercentUofUtheUcoverageUforUtheUinsuredUemployee



AccordingUtoUCICUSectionU1711,UanUorganizationUceasesUtoUexistUasUanUentityUeligibleUtoUholdUaUlicenseUEX
CEPTU-UCORRECTUANSWERU-uponUtheUterminationUofUallUcontracts



AsUlongUasUemploymentUcontinues,UwhichUisUtheUONLYUreasonUtheUvalidityUofUaUgroupUlifeUinsuranceUpolic
yUcanUbeUcontested?U-UCORRECTUANSWERU-Non-
paymentUofUpremiumsUafterUtheUpolicyUhasUbeeUinUforceUforUtwoUyears.



AllUofUtheUfollowingUareUTRUEUaboutUtheUrulesUregardingUtheUsaleUofUlifeUinsuranceUandUannuitiesUtoUsenio
rsUageU65UorUolderUEXCEPTU-UCORRECTUANSWERU-
TheUagent,Ubroker,UorUinsurerUisUrequiredUtoUshowUaUcopyUofUtheirUinsuranceUlicenseUwithUname,Uaddress,
UandUphoneUnumberUwhenUconductingUbusinessUinUtheUseniorUhome




WhatUisUaUsolicitorUemployedUtoUdoUforUaUpolicyUotherUthanUlife?U-UCORRECTUANSWERU-
ToUaidUaUpropertyUandUcasualtyUagentUorUbrokerUinUtransactingUinsurance



AllUofUtheUfollowingUareUexamplesUofUrepresentationUexceptU-UCORRECTUANSWERU-
ItUmayUbeUalteredUafterUtheUinsuranceUisUeffected

, ExceptUasUprovidedUbyUsectionsU10203.5UandU10203.8UinUtheUCIC,UtheUinsurerUshallUprovideUwhichUdocum
entUtoUbeUdeliveredUbyUtheUemployerUtoUtheUemployee?U-UCORRECTUANSWERU-
AnUindividualUcertificationUofUinsurance



WhatUisUtheUpurposeUofUcreatingUminimumUunderwritingUstandardsUforUthoseUtestingUpositiveUforUAcquire
dUImmuneUDeficiencyUSyndrome,UHumanUImmunodeficiencyUVirusUorUAidsURelatedUComplex?U-
UCORRECTUANSWERU-

ToUavoidUdiscriminationUbetweenUindividualsUinUtheUsameUratingUclassUwhoUhaveUbeenUdiagnosedUwithUth
eUconditionsUofUAIDS,UARCUorUHIV



WhichUofUtheUfollowingUisUTRUEUregardingUcontinuingUeductionUrequirementsUofUanUagentUorUbroker?U-
UCORRECTUANSWERU-

AnyUlicenseeUshallUsatisfactorilyUcompleteU24UhoursUofUinstructionUpriorUtoUlicenseUrenewal.



WhichUofUtheUfollowingUprovisionsUofUfreeUinsuranceUofferedUasUincentiveUtoUpurchaseUorUrentUpropertyUis
UTRUE?U-UCORRECTUANSWERU-ItUrequiresUaUseparateUchargeUorUfee.




WhichUisUtheUmaximumUfineUforUaUpersonUwhoUtransactsUinsuranceUwithoutUaUvalidUlicense?U-
UCORRECTUANSWERU-$50,000Uand/orUimprisonmentUforUaUperiodUnotUexceedingUoneUyear.




WhichUofUtheUfollowingUisUTRUEUregardingUnon-admittedUinsurers?U-UCORRECTUANSWERU-
ActingUasUanUagentUforUaUnonadmittedUinsurerUisUconsideredUaUmisdemeanor.



AUpolicyUshallUspecifyUallUofUtheUfollowingUEXCEPTU-UCORRECTUANSWERU-
TheUmethodUinUwhichUtheUcoverageUamountUwasUcalculated



HowUlongUdoesUanUemployeeUinUaUgroupUinsuranceUpolicyUhaveUtoUexerciseUtheUconversionUprivilegeUafter
UemploymentUisUterminated?U-UCORRECTUANSWERU-

31UdaysUtoUuseUtheUconversionUprivilegeUandUbeginUanUindividualUlifeUinsuranceUpolicy



WhichUgroupUofUpeopleUisUofferedUadditionalUprotectionUbyUtheUUnfairUPracticesUActUthatUregulatesUtradeU
practicesUinUtheUbusinessUofUinsurance?U-UCORRECTUANSWERU-SurvivorsUofUtheUHolocaust

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