PSI LIFE, ACCIDENT AND HEALTH
PRACTICE EXAM (LATEST 2022 –
2023) 100% CORRECT
Under the misstatement of age or gender provision, what happens if it is determined
at death that the insured's age or gender was misstated on a life insurance policy
application? - answerBenefits are adjusted to an amount that the premium would
have purchased at the correct age or gender.
Which of the following must be given to the insurer within 20 days after
occurrence or commencement of any loss covered by the policy, or as
thereafter as is reasonably possible? - answerNotice of claim.
When will a policy pay on a UCR basis? - answerWhen particular benefits are
not listed on a payment schedule.
All of the following are non-forfeiture options EXCEPT - answerCash dividend
option.
What happens when the lifetime maximum benefit limit has been reached? -
answerThe insured will pay all of the remaining medial costs for as long as the
policy is in force.
Whose responsibility is it to make sure that the company is notified of a death claim
at the earliest possible opportunity (in most cases)? - answerThe producer.
What is the waiver of premium provision? - answerIn a long term care contract,
the premium is waived after the insured has been confined for a specific period
of time.
All of the following are common exclusions from loss found in disability income
policies EXCEPT for that incurred while? - answerCommitting a misdemeanor
, Which is a disadvantage to a flexible premium annuity? - answerThe actual amount
of the annuity benefit cannot be determined in advance.
PRACTICE EXAM (LATEST 2022 –
2023) 100% CORRECT
Under the misstatement of age or gender provision, what happens if it is determined
at death that the insured's age or gender was misstated on a life insurance policy
application? - answerBenefits are adjusted to an amount that the premium would
have purchased at the correct age or gender.
Which of the following must be given to the insurer within 20 days after
occurrence or commencement of any loss covered by the policy, or as
thereafter as is reasonably possible? - answerNotice of claim.
When will a policy pay on a UCR basis? - answerWhen particular benefits are
not listed on a payment schedule.
All of the following are non-forfeiture options EXCEPT - answerCash dividend
option.
What happens when the lifetime maximum benefit limit has been reached? -
answerThe insured will pay all of the remaining medial costs for as long as the
policy is in force.
Whose responsibility is it to make sure that the company is notified of a death claim
at the earliest possible opportunity (in most cases)? - answerThe producer.
What is the waiver of premium provision? - answerIn a long term care contract,
the premium is waived after the insured has been confined for a specific period
of time.
All of the following are common exclusions from loss found in disability income
policies EXCEPT for that incurred while? - answerCommitting a misdemeanor
, Which is a disadvantage to a flexible premium annuity? - answerThe actual amount
of the annuity benefit cannot be determined in advance.
