CA PSI SITE - LIFE, ACCIDENT AND HEALTH
AGENT EXAMINATION (LIFE AGENT) 2024
COMPLETE 500 QUESTIONS WITH 100%
CORRECT DETAILED AND VERIFIED
ANSWERS
BRAND NEW EXAM
ALREADY GRADED A+
Upon the issuance of a conditional receipt for a renewal
when the premium is paid AFTER the time granted by the
insurer, what is the maximum amount of time for
reinstatement of the policy?
A. 10 days
B. 30 days
C. 45 days
D. 60 days - ....ANSWER...45 days
Which is the major reason why long-term care insurance
is becoming increasingly important?
A. It is easy to make a profit from investing in long
term care
B. As life expectancy increases, the chances of
needing long term care also increase
C. Nursing homes only accept Medicare as a
secondary insurance source.
1
,D. Many younger people are developing life-
threatening conditions and require hospice care. -
....ANSWER...As life expectancy increases, the chances
of needing long term care also increase
Which of the following refers to how often a
premium is paid?
A. Level
B. Mode
C. Net
D. Ratio - ....ANSWER...Mode
All of the following are required signatures on a life
insurance application EXCEPT
A. The agent
B. The applicant
C. The minor in a juvenile policy
D. The proposed insured - ....ANSWER...The minor in a
juvenile policy
Which problem was universal life insurance designed to
address?
A. low interest rates during periods of high inflation
2
,B. high interest rates during periods of low inflation
C. increased risk of death due to aging
D. lack of a fixed death benefit - ....ANSWER...low
interest rates during periods of high inflation
All of the following are nonforfeiture options EXCEPT
A. Cash surrender value
B. Extended term insurance
C. Reduced paid-up insurance
D. Cash dividend option - ....ANSWER...Cash dividend
option
Why is rehabilitation considered worthy of federal help
under workers' compensation?
A. it reduces insurance losses and helps regain the
worker's dignity
B. the costs to states are prohibitive so federal
funding is required
C. states do not have the means to provide
rehabilitative services
D. because under the Americans with Disabilities Act it is
required - ....ANSWER...it reduces insurance losses and
helps regain the worker's dignity
3
, Why is relying solely on employer group life insurance
generally considered inadequate for most individual's
needs?
A. It is financially insufficient to cover end of life
expenses.
B. It is meant to cover funeral expenses only.
C. It does not pay off the insured's mortgage.
D. It is based on salary amounts that are too low. -
....ANSWER...It is financially insufficient to cover end of
life expenses.
What is the primary advantage for obtaining a
reinstatement of a policy rather than obtaining a new one?
A. No proof of insurability is required
B. insured original issue age is used
C. No application is required
D. outstanding loans are cancelled -
....ANSWER...insured original issue age is used
What is the purpose of Stranger-originated life insurance
(STOLI)?
A. the policy is originated primarily or solely for the
purpose of resale
4
AGENT EXAMINATION (LIFE AGENT) 2024
COMPLETE 500 QUESTIONS WITH 100%
CORRECT DETAILED AND VERIFIED
ANSWERS
BRAND NEW EXAM
ALREADY GRADED A+
Upon the issuance of a conditional receipt for a renewal
when the premium is paid AFTER the time granted by the
insurer, what is the maximum amount of time for
reinstatement of the policy?
A. 10 days
B. 30 days
C. 45 days
D. 60 days - ....ANSWER...45 days
Which is the major reason why long-term care insurance
is becoming increasingly important?
A. It is easy to make a profit from investing in long
term care
B. As life expectancy increases, the chances of
needing long term care also increase
C. Nursing homes only accept Medicare as a
secondary insurance source.
1
,D. Many younger people are developing life-
threatening conditions and require hospice care. -
....ANSWER...As life expectancy increases, the chances
of needing long term care also increase
Which of the following refers to how often a
premium is paid?
A. Level
B. Mode
C. Net
D. Ratio - ....ANSWER...Mode
All of the following are required signatures on a life
insurance application EXCEPT
A. The agent
B. The applicant
C. The minor in a juvenile policy
D. The proposed insured - ....ANSWER...The minor in a
juvenile policy
Which problem was universal life insurance designed to
address?
A. low interest rates during periods of high inflation
2
,B. high interest rates during periods of low inflation
C. increased risk of death due to aging
D. lack of a fixed death benefit - ....ANSWER...low
interest rates during periods of high inflation
All of the following are nonforfeiture options EXCEPT
A. Cash surrender value
B. Extended term insurance
C. Reduced paid-up insurance
D. Cash dividend option - ....ANSWER...Cash dividend
option
Why is rehabilitation considered worthy of federal help
under workers' compensation?
A. it reduces insurance losses and helps regain the
worker's dignity
B. the costs to states are prohibitive so federal
funding is required
C. states do not have the means to provide
rehabilitative services
D. because under the Americans with Disabilities Act it is
required - ....ANSWER...it reduces insurance losses and
helps regain the worker's dignity
3
, Why is relying solely on employer group life insurance
generally considered inadequate for most individual's
needs?
A. It is financially insufficient to cover end of life
expenses.
B. It is meant to cover funeral expenses only.
C. It does not pay off the insured's mortgage.
D. It is based on salary amounts that are too low. -
....ANSWER...It is financially insufficient to cover end of
life expenses.
What is the primary advantage for obtaining a
reinstatement of a policy rather than obtaining a new one?
A. No proof of insurability is required
B. insured original issue age is used
C. No application is required
D. outstanding loans are cancelled -
....ANSWER...insured original issue age is used
What is the purpose of Stranger-originated life insurance
(STOLI)?
A. the policy is originated primarily or solely for the
purpose of resale
4
