CALIFORNIA PSI Life Insurance ACTUAL EXAM AND PRACTICE TEST
COMPLETE 250 QUESTIONS AND CORRECT DETAILED ANSWERS
LATEST UPDATE THIS YEAR
ACTUAL EXAM
Your answers
Term 1 of 157
Which of the following is not a benefit of insurance?
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Insurance guarantees financial stability in Insurance covers all types of risks
all situations without exception
Insurance provides immediate cash for
Losses due to fraud are eliminated
all claims
Don't know?
,Term 2 of 157
Which of the following risk classification's charges the highest premium?
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Preferred Substandard
Graded Fully Insured
Don't know?
Term 3 of 157
Which of the following is NOT a requirement for a terminated employee that
has exercised the conversion privilege?
Give this one a try later!
Convert within 31 days Submit a renewal application
Pay the renewal premium Provide proof of insurability
Don't know?
,Term 4 of 157
Failure to report background changes within 30 days as required under
section 1729.2 of the California insurance code could subject a license or
applicant to
Give this one a try later!
misrepresentation on an insurance
recession of the contract
application
fine, suspension, and denial premiums
Don't know?
Term 5 of 157
An insured's status under Social Security can be described as
Give this one a try later!
Fully insured Actively insured
Partially insured Conditionally insured
, Don't know?
Term 6 of 157
How does underwriting differ between group life and individual life
insurance?
Give this one a try later!
Medical questions must be
Individual life insurance has no medical
answered on individual life
requirements
insurance
Group life insurance requires extensive Group life insurance requires personal
medical exams interviews
Don't know?
Term 7 of 157
What does the term "illustration" mean when used in the phrase "life
insurance policy illustration", according to the California insurance code
Give this one a try later!
Summary of guaranteed benefits only Legal disclaimers of the policy
COMPLETE 250 QUESTIONS AND CORRECT DETAILED ANSWERS
LATEST UPDATE THIS YEAR
ACTUAL EXAM
Your answers
Term 1 of 157
Which of the following is not a benefit of insurance?
Give this one a try later!
Insurance guarantees financial stability in Insurance covers all types of risks
all situations without exception
Insurance provides immediate cash for
Losses due to fraud are eliminated
all claims
Don't know?
,Term 2 of 157
Which of the following risk classification's charges the highest premium?
Give this one a try later!
Preferred Substandard
Graded Fully Insured
Don't know?
Term 3 of 157
Which of the following is NOT a requirement for a terminated employee that
has exercised the conversion privilege?
Give this one a try later!
Convert within 31 days Submit a renewal application
Pay the renewal premium Provide proof of insurability
Don't know?
,Term 4 of 157
Failure to report background changes within 30 days as required under
section 1729.2 of the California insurance code could subject a license or
applicant to
Give this one a try later!
misrepresentation on an insurance
recession of the contract
application
fine, suspension, and denial premiums
Don't know?
Term 5 of 157
An insured's status under Social Security can be described as
Give this one a try later!
Fully insured Actively insured
Partially insured Conditionally insured
, Don't know?
Term 6 of 157
How does underwriting differ between group life and individual life
insurance?
Give this one a try later!
Medical questions must be
Individual life insurance has no medical
answered on individual life
requirements
insurance
Group life insurance requires extensive Group life insurance requires personal
medical exams interviews
Don't know?
Term 7 of 157
What does the term "illustration" mean when used in the phrase "life
insurance policy illustration", according to the California insurance code
Give this one a try later!
Summary of guaranteed benefits only Legal disclaimers of the policy
