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CA PSI Site - Life Examination WITH COMPLETE QUESTIONS AND ANSWERS

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CA PSI Site - Life Examination WITH COMPLETE QUESTIONS AND ANSWERS

Institution

PSI Life

Course

PSI life

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Institution: PSI life
Course: PSI life

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Uploaded on: October 8, 2025
Number of pages: 19
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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ca psi site life examination with complete quest

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CA PSI Site - Life Examination WITH COMPLETE
QUESTIONS AND ANSWERS 2025-2026|
GUARANTEED PASS!! RATED A+
whatSisSmeantSbySreferringStoSanSinsuranceSpolicySasSaSunilateralScontract?S-
SCORRECTSANSWERSonlySoneSpartySmakesSaSlegalSenforceableSpromise

whenSmustSinsuranceSrecordsSofSinsuranceSagentsSandSbrokersSbeSmadeSavailableStoStheSInsuranceSComm
issioner?S-SCORRECTSANSWERSatSallStimes

anySsituationSthatSpresentsStheSpossibilitySofSaSlossSisSknownSasSwhatS-SCORRECTSANSWERSaSlossSexposure

whichSofStheSfollowingSinformationSisSnotSrequiredStoSbeScommunicatedSinSaSlifeSinsuranceScontract?S-
SCORRECTSANSWERSpersonalSjudgement

theSdirectSdistributionSofSinsuranceSutilizesSallSofStheSfollowingStoSpromoteStheSsaleSofSinsuranceSEXCEPTS-
SCORRECTSANSWERStelephoneScallSfromSanSagent

aScontractSinSwhichSoneSpartSpromisesStoSidentifySanotherSagainstSlossSthatSarisesSfromSanSunknownSeventS
isS-SCORRECTSANSWERSanSinsuranceSpolicy

allSofStheSoccurrencesSlistedSbelowSareSexamplesSofSanSinsurableSeventSasSdefinedSbyStheSCaliforniaSinsura
nceScodeSEXCEPTS-SCORRECTSANSWERSanSinsuredSsuffersSfinancialSlossSinStheSstateSlottery

allSofStheSfollowingSstatementsSaboutSaleatoryScontractsSareStrueSEXCEPTS-
SCORRECTSANSWERStheSinsuredSandSinsurerScontributeSequallyStoStheScontract

allSofStheSfollowingSwouldSbeSconsideredSunfairStradeSpracticesSEXCEPTS-
SCORRECTSANSWERScommittingSanySactSofSdiscriminationSwhetherSitSbeSdeemedSfairSorSunfair

,AsSauthorizedSbyStheSCaliforniaSInsuranceSCode,StheSInsuranceSCommissionerShasSprovidedSstandardsSforS
namesSusedSbySlifeSinsuranceSagents.SUnderStheseSstandardsSwhich,SifSany,SofStheSfollowingSareSautomatic
allySacceptableSforSMarySBrown,SaSholderSofStheSCLUSdesignation?S-
SCORRECTSANSWERSMarySbrownSinsuranceSservies

aScontractSofSindemnitySisSoneSinSwhichS-
SCORRECTSANSWERSOneSpartySisSrestoredStoStheSsameSfinancialSpositionStheSpartySwasSinSbeforeStheSlossS

occurred

InSinsuranceSterminology,S"indemnity"SmeansS-SCORRECTSANSWERSmakeSwhole

AsSdefinedSinStheSCaliforniaSinsuranceSCode,S"insurance"SisSaS-SCORRECTSANSWERScontract

WhatSwouldSaSpersonSbeSguiltySofSwhoSrefusesStoSdeliverSanySbooks,Srecords,SorSassetsStoStheScommission
erSonceSaSseizureSorderShasSbeenSexecuted?S-SCORRECTSANSWERSaSmisdemeanor

AnSagentSwhoSisSactingSasSanSinsuranceSagent,Sbroker,Ssolicitor,SlifeSagent,SaccidentSandShealth,SorSbailSage
ntSactsSinSwhichScapacitySwhenShandlingSpremiumsSorSreturnSpremiumsSforSanSinsured?S-
SCORRECTSANSWERSfiduciary

whichSofStheSfollowingSstatementSregardingSriskSisSTRUES-SCORRECTSANSWERSonlySpureSrisksSareSinsurable

TheSpurchaseSofSanSinsuranceSpolicySmaySaccomplishSallSofStheSfollowingSforStheSinsuredSEXCEPTS-
SCORRECTSANSWERStheSeliminationSofSrisk

InsuredsSareSentitledStoSrecoverSanSamountSNOTSgreaterSthanStheSamountSofStheirSlossSunderStheSprinciple
SofS-SCORRECTSANSWERSindemnity

, whatSruleSisSusedStoSdetermineStheSimportanceSofSaSrepresentation?S-
SCORRECTSANSWERStheSmaterialitySofSconcealment

theSrequiredScontentsSofSaSpolicySincludeSallSofStheSfollowingSEXCEPTS-
SCORRECTSANSWERStheSpossibilitySofSloss

allSofStheSfollowingSareScharacteristicsSofSreinsuranceSEXCEPTS-
SCORRECTSANSWERSincreasesStheSunearnedSpremiumSreserve

accordingStoStheSCaliforniaSinsuranceScode,SanSinsuranceSpolicySmustSspecifySallSofStheSfollowingSEXEPTSthe
S-SCORRECTSANSWERSfinancialSratingSofStheSinsurer

AllSofStheSfollowingSqualifySasS"backgroundSinformation"SasSdefinedSinSSectionS1729.2SofStheSCaliforniaSIns
uranceSCode,SEXCEPTS-SCORRECTSANSWERSmisdemeanorSchargesSfiled,SnotSresultingSinSconviction

LossSretentionSisSanSeffectiveSriskSmanagementStechniqueSwhenSallSofStheSfollowingSconditionsSexistSEXCE
PTStheS-SCORRECTSANSWERSprobabilitySofSlossSisSunknown

aSsituationSinSwhichSthereSisSaSpossibilitySofSlossSorSgainSisSaS-SCORRECTSANSWERSspeculativeSrisk

WhySisShavingSaSlargeSnumberSofSsimilarSexposureSunitsSimportantStoSinsurers?S-
SCORRECTSANSWERStheSgreaterStheSnumberSinsured,StheSmoreSaccuratelyStheSinsurerScanSpredictSlossesSa

ndSsetSappropriateSpremiums

allSofStheSfollowingSareSbenefitsSofSinsuranceSEXCEPTSitS-SCORRECTSANSWERSeliminatesSfraudulentSlosses

whoSareSmembersSofStheSmedicalSinformationSbureauS-SCORRECTSANSWERSLifeSandShealthSinsurers

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CA PSI Site - Life Examination WITH COMPLETE QUESTIONS AND ANSWERS

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