PSI Life Exam 2025 UPDATE
Verified Questions And Answers |
Guaranteed Pass!!!!
1. What kind of retirement plan can a 75-employee for profit corporation
establish?
Simple IRA
2. The taxable portion of a monthly income benefit paid during the annuity
phase from a nonqualified annuity is calculated using the
Exclusion ratio
3. Unfair claims settlement methods and practices by an insurance
company include all of the following acts EXCEPT
failure to pay all claims that are reported within 90 days after a loss occurs
4. The settlement option that allows proceeds to remain with the insurer
and the earnings to be paid to the beneficiary on a monthly basis is
called
Interest only
5. Regulations on life insurance advertising apply to which of the following
insurance company materials?
A radio commercial that promotes the benefits of a specific company's life
insurance products
6. An insurance company may contest a life policy within a MAXIMUM of
how many years after the policy's effective date?
2
7. All of the following factors are used in life insurance premium
determination EXCEPT
Morbidity
, 8. The authorization used to obtain the applicant's medical information that
will be used by the insurer for the primary purpose of determining
eligibility must include:
the time frame in which the insurer must release the eligibility decision to the
agent
9. An intermediary who omits information on an insurance application
without the applicant's knowledge and submits the application to the
insurer may be guilty of:
Misrepresentation
Dividends are NOT subject to taxation because
Paying dividends is equivalent to returning a premium
The XYZ Insurance Company cancels an intermediary's contract. XYZ could be
bound by the intermediary's later acts if it:
Continues to pay the intermediary deferred commissions
Which of the following products is designed to pay benefits that can provide a
stream of retirement income to the purchaser?
tax-deferred growth
Which of the following guarantees that the annuitant CANNOT outlive their
benefits?
Guaranteed lifetime withdrawal benefit
Which of the following statements is CORRECT about an insured's failure to
report a claim in a timely manner based on the advice of an intermediary?
It does not affect the insurance company's obligations
In Wisconsin, an "intermediary" is defined as a representative of:
A Solicitor
All of the following statements regarding a group annuity are correct EXCEPT
Each employee signs and receives an individual contract
Verified Questions And Answers |
Guaranteed Pass!!!!
1. What kind of retirement plan can a 75-employee for profit corporation
establish?
Simple IRA
2. The taxable portion of a monthly income benefit paid during the annuity
phase from a nonqualified annuity is calculated using the
Exclusion ratio
3. Unfair claims settlement methods and practices by an insurance
company include all of the following acts EXCEPT
failure to pay all claims that are reported within 90 days after a loss occurs
4. The settlement option that allows proceeds to remain with the insurer
and the earnings to be paid to the beneficiary on a monthly basis is
called
Interest only
5. Regulations on life insurance advertising apply to which of the following
insurance company materials?
A radio commercial that promotes the benefits of a specific company's life
insurance products
6. An insurance company may contest a life policy within a MAXIMUM of
how many years after the policy's effective date?
2
7. All of the following factors are used in life insurance premium
determination EXCEPT
Morbidity
, 8. The authorization used to obtain the applicant's medical information that
will be used by the insurer for the primary purpose of determining
eligibility must include:
the time frame in which the insurer must release the eligibility decision to the
agent
9. An intermediary who omits information on an insurance application
without the applicant's knowledge and submits the application to the
insurer may be guilty of:
Misrepresentation
Dividends are NOT subject to taxation because
Paying dividends is equivalent to returning a premium
The XYZ Insurance Company cancels an intermediary's contract. XYZ could be
bound by the intermediary's later acts if it:
Continues to pay the intermediary deferred commissions
Which of the following products is designed to pay benefits that can provide a
stream of retirement income to the purchaser?
tax-deferred growth
Which of the following guarantees that the annuitant CANNOT outlive their
benefits?
Guaranteed lifetime withdrawal benefit
Which of the following statements is CORRECT about an insured's failure to
report a claim in a timely manner based on the advice of an intermediary?
It does not affect the insurance company's obligations
In Wisconsin, an "intermediary" is defined as a representative of:
A Solicitor
All of the following statements regarding a group annuity are correct EXCEPT
Each employee signs and receives an individual contract
