Exam (elaborations)

CA PSI SITE - LIFE EXAMINATION WITH COMPLETE QUESTIONS AND ANSWERS

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CA PSI SITE - LIFE EXAMINATION WITH COMPLETE QUESTIONS AND ANSWERS

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PSI Life

Course

PSI life

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Institution: PSI life
Course: PSI life

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Uploaded on: October 31, 2025
Number of pages: 20
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

whatKisKmeantKbyKreferringKtoKanKinsuranceKpolicyKasKaKunilateralKcontract?K-
KCORRECTKANSWERSonlyKoneKpartyKmakesKaKlegalKenforceableKpromise

whenKmustKinsuranceKrecordsKofKinsuranceKagentsKandKbrokersKbeKmadeKavailableKtoKtheKInsuranc
eKCommissioner?K-KCORRECTKANSWERSatKallKtimes

anyKsituationKthatKpresentsKtheKpossibilityKofKaKlossKisKknownKasKwhatK-
KCORRECTKANSWERSaKlossKexposure

whichKofKtheKfollowingKinformationKisKnotKrequiredKtoKbeKcommunicatedKinKaKlifeKinsuranceKcontra
ct?K-KCORRECTKANSWERSpersonalKjudgement

theKdirectKdistributionKofKinsuranceKutilizesKallKofKtheKfollowingKtoKpromoteKtheKsaleKofKinsuranceKE
XCEPTK-KCORRECTKANSWERStelephoneKcallKfromKanKagent

aKcontractKinKwhichKoneKpartKpromisesKtoKidentifyKanotherKagainstKlossKthatKarisesKfromKanKunkno
wnKeventKisK-KCORRECTKANSWERSanKinsuranceKpolicy

allKofKtheKoccurrencesKlistedKbelowKareKexamplesKofKanKinsurableKeventKasKdefinedKbyKtheKCaliforni
aKinsuranceKcodeKEXCEPTK-
KCORRECTKANSWERSanKinsuredKsuffersKfinancialKlossKinKtheKstateKlottery

allKofKtheKfollowingKstatementsKaboutKaleatoryKcontractsKareKtrueKEXCEPTK-
KCORRECTKANSWERStheKinsuredKandKinsurerKcontributeKequallyKtoKtheKcontract

,allKofKtheKfollowingKwouldKbeKconsideredKunfairKtradeKpracticesKEXCEPTK-
KCORRECTKANSWERScommittingKanyKactKofKdiscriminationKwhetherKitKbeKdeemedKfairKorKunfair

AsKauthorizedKbyKtheKCaliforniaKInsuranceKCode,KtheKInsuranceKCommissionerKhasKprovidedKstand
ardsKforKnamesKusedKbyKlifeKinsuranceKagents.KUnderKtheseKstandardsKwhich,KifKany,KofKtheKfollowi
ngKareKautomaticallyKacceptableKforKMaryKBrown,KaKholderKofKtheKCLUKdesignation?K-
KCORRECTKANSWERSMaryKbrownKinsuranceKservies

aKcontractKofKindemnityKisKoneKinKwhichK-
KCORRECTKANSWERSOneKpartyKisKrestoredKtoKtheKsameKfinancialKpositionKtheKpartyKwasKinKbeforeK

theKlossKoccurred

InKinsuranceKterminology,K"indemnity"KmeansK-KCORRECTKANSWERSmakeKwhole

AsKdefinedKinKtheKCaliforniaKinsuranceKCode,K"insurance"KisKaK-KCORRECTKANSWERScontract

WhatKwouldKaKpersonKbeKguiltyKofKwhoKrefusesKtoKdeliverKanyKbooks,Krecords,KorKassetsKtoKtheKco
mmissionerKonceKaKseizureKorderKhasKbeenKexecuted?K-KCORRECTKANSWERSaKmisdemeanor

AnKagentKwhoKisKactingKasKanKinsuranceKagent,Kbroker,Ksolicitor,KlifeKagent,KaccidentKandKhealth,KorK
bailKagentKactsKinKwhichKcapacityKwhenKhandlingKpremiumsKorKreturnKpremiumsKforKanKinsured?K-
KCORRECTKANSWERSfiduciary

whichKofKtheKfollowingKstatementKregardingKriskKisKTRUEK-
KCORRECTKANSWERSonlyKpureKrisksKareKinsurable

TheKpurchaseKofKanKinsuranceKpolicyKmayKaccomplishKallKofKtheKfollowingKforKtheKinsuredKEXCEPTK-
KCORRECTKANSWERStheKeliminationKofKrisk

, InsuredsKareKentitledKtoKrecoverKanKamountKNOTKgreaterKthanKtheKamountKofKtheirKlossKunderKtheK
principleKofK-KCORRECTKANSWERSindemnity

whatKruleKisKusedKtoKdetermineKtheKimportanceKofKaKrepresentation?K-
KCORRECTKANSWERStheKmaterialityKofKconcealment

theKrequiredKcontentsKofKaKpolicyKincludeKallKofKtheKfollowingKEXCEPTK-
KCORRECTKANSWERStheKpossibilityKofKloss

allKofKtheKfollowingKareKcharacteristicsKofKreinsuranceKEXCEPTK-
KCORRECTKANSWERSincreasesKtheKunearnedKpremiumKreserve

accordingKtoKtheKCaliforniaKinsuranceKcode,KanKinsuranceKpolicyKmustKspecifyKallKofKtheKfollowingKE
XEPTKtheK-KCORRECTKANSWERSfinancialKratingKofKtheKinsurer

AllKofKtheKfollowingKqualifyKasK"backgroundKinformation"KasKdefinedKinKSectionK1729.2KofKtheKCalif
orniaKInsuranceKCode,KEXCEPTK-
KCORRECTKANSWERSmisdemeanorKchargesKfiled,KnotKresultingKinKconviction

LossKretentionKisKanKeffectiveKriskKmanagementKtechniqueKwhenKallKofKtheKfollowingKconditionsKex
istKEXCEPTKtheK-KCORRECTKANSWERSprobabilityKofKlossKisKunknown

aKsituationKinKwhichKthereKisKaKpossibilityKofKlossKorKgainKisKaK-KCORRECTKANSWERSspeculativeKrisk

WhyKisKhavingKaKlargeKnumberKofKsimilarKexposureKunitsKimportantKtoKinsurers?K-
KCORRECTKANSWERStheKgreaterKtheKnumberKinsured,KtheKmoreKaccuratelyKtheKinsurerKcanKpredict

KlossesKandKsetKappropriateKpremiums

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CA PSI SITE - LIFE EXAMINATION WITH COMPLETE QUESTIONS AND ANSWERS

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