PSI LIFE, ACCIDENT AND HEALTH
EXAM 2024 COMPLETE 300
QUESTIONS WITH 100% CORRECT
DETAILED AND VERIFIED ANSWERS
BRAND NEW EXAM ALREADY
GRADED A+
As used in the insurance code, the word "shall" is
mandatory and the word "may" is permissive EXCEPT
1.
when the contract is not accepted by the commissioner.
2.
with the written approval of the commissioner. 3.
unless otherwise apparent from the context. 4.
unless otherwise specified in a contract. -
....ANSWER...unless otherwise apparent from the context.
Which of the following is an INACCURATE statement
regarding replacement for long-term care coverage?
1.
The policy must materially improve the position of the
insured.
1
,2.
The sales commission is limited to the percentage of sale
normally paid for renewal of long-term care policies.
3.
Group long-term care policies have the same rules
regarding replacement as individual long-term care
policies.
4.
Replacement commission is based on the difference
between the annual premium of the replacement and the
original policy. - ....ANSWER...Group long-term care
policies have the same rules regarding replacement as
individual long-term care policies.
All of the following are examples of misrepresentations
that may not be made by an insurer, officer or agent
thereof or an insurance broker or solicitor EXCEPT
1.the terms of a policy issued.
2.the future dividends payable.
3.the specific contract language.
4.the benefits or privileges
promised. -
....ANSWER...the specific contract language.
2
,Which of the following may insurers use in their
underwriting?
1.
ancestry 2.
family medical history 3.
genetic characteristics 4.
national origin - ....ANSWER...family medical history
Which group of people is offered additional protection
by the Unfair Practices Act that regulates trade practices
in the business of insurance?
1.
victims of domestic abuse 2.
victims of natural disasters 3.
veterans injured overseas 4.
survivors of the Holocaust - ....ANSWER...survivors of
the Holocaust
Are dependents eligible for any premium refunds or
dividends paid under any policy of group disability
insurance?
3
, 1.
Yes, insured employees are generally eligible as well as
their dependents.
2.
Yes, dependents are eligible when the employee has filed
a written statement affirming their status.
3.
Yes, when the insurance company for the employee is
domiciled in the United States.
4.
No, as they are not the employee and are therefore not
eligible. - ....ANSWER...Yes, insured employees are
generally eligible as well as their dependents.
Where shall an express warranty be made? 1.
in the policy itself
2.
on a specimen copy in the contract 3.
on an illustration provided to the policy owner 4.
in a brochure of the policy that is described in detail
- ....ANSWER...in the policy itself
4
EXAM 2024 COMPLETE 300
QUESTIONS WITH 100% CORRECT
DETAILED AND VERIFIED ANSWERS
BRAND NEW EXAM ALREADY
GRADED A+
As used in the insurance code, the word "shall" is
mandatory and the word "may" is permissive EXCEPT
1.
when the contract is not accepted by the commissioner.
2.
with the written approval of the commissioner. 3.
unless otherwise apparent from the context. 4.
unless otherwise specified in a contract. -
....ANSWER...unless otherwise apparent from the context.
Which of the following is an INACCURATE statement
regarding replacement for long-term care coverage?
1.
The policy must materially improve the position of the
insured.
1
,2.
The sales commission is limited to the percentage of sale
normally paid for renewal of long-term care policies.
3.
Group long-term care policies have the same rules
regarding replacement as individual long-term care
policies.
4.
Replacement commission is based on the difference
between the annual premium of the replacement and the
original policy. - ....ANSWER...Group long-term care
policies have the same rules regarding replacement as
individual long-term care policies.
All of the following are examples of misrepresentations
that may not be made by an insurer, officer or agent
thereof or an insurance broker or solicitor EXCEPT
1.the terms of a policy issued.
2.the future dividends payable.
3.the specific contract language.
4.the benefits or privileges
promised. -
....ANSWER...the specific contract language.
2
,Which of the following may insurers use in their
underwriting?
1.
ancestry 2.
family medical history 3.
genetic characteristics 4.
national origin - ....ANSWER...family medical history
Which group of people is offered additional protection
by the Unfair Practices Act that regulates trade practices
in the business of insurance?
1.
victims of domestic abuse 2.
victims of natural disasters 3.
veterans injured overseas 4.
survivors of the Holocaust - ....ANSWER...survivors of
the Holocaust
Are dependents eligible for any premium refunds or
dividends paid under any policy of group disability
insurance?
3
, 1.
Yes, insured employees are generally eligible as well as
their dependents.
2.
Yes, dependents are eligible when the employee has filed
a written statement affirming their status.
3.
Yes, when the insurance company for the employee is
domiciled in the United States.
4.
No, as they are not the employee and are therefore not
eligible. - ....ANSWER...Yes, insured employees are
generally eligible as well as their dependents.
Where shall an express warranty be made? 1.
in the policy itself
2.
on a specimen copy in the contract 3.
on an illustration provided to the policy owner 4.
in a brochure of the policy that is described in detail
- ....ANSWER...in the policy itself
4
