CA PSI SITE LIFE ACCIDENT AND HEALTH OR
SICKNESS EXAM (LIFE AGENT) (3 VERSIONS) LATEST
2025 REAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILS (VERIFIED ANSWERS) |ALREADY
GRADED A+
which of the following is NOT an example of cost sharing in a health insurance policy -
answers-Coordination
in the absence of a coordination of benefits clause, all of the following circumstances
might result in recovery of more than 100% of actual health care expenses EXCEPT: -
answers-a worker's medical plan includes a carry-over deductible provision.
what rights do individuals have if they disagree with a decision on the amount Medicare
will pay? - answers-they can ask a Medicare carrier to review the decision.
An individual is allowed to enroll in individual health insurance under the following
circumstances EXCEPT - answers-within 30 days of being diagnosed with an illness.
Medicare Part A provides coverage for all of the following Except - answers-physicians'
services
the type of health care provider that provides both the health care services and health
care coverage is called - answers-a Health Maintenance Organization
in medical expense insurance, what serves the same purpose as the elimination period
in disability income insurance? - answers-Deductible
which program pays the cost of nursing home care for people who cannot afford it
themselves? - answers-Medi cal
a health insurance issuer offering coverage in the individual market must provide
premium rebates if its medical loss ratio (MLR) is less than what percentage? -
answers-80%
According to the California Insurance Code, all of the following Long-term Care (LTC
insurance sales are considered unnecessary except - answers-a replacement LTC
POLICY with equal benefits for a lower premium
which of the following statements concerning the usual coordination of benefits
provision is correct? - answers-when two plans both have the provision, coverage as an
employee is primary to coverage as a dependent.
,what is meant by referring to an insurance policy as a unilateral contract? - answers-
Only one party makes a legally enforceable promise.
When must insurance records of insurance agents and brokers be made available to
the insurance commissioner? - answers-At all times.
Any situation that presents the possibility of a loss is known as? - answers-a loss
exposure.
Which of the following information is not required to be communicated in a Life
insurance contract? - answers-Personal Judgement
the direct distribution of insurance utilizes all of the following to mote the sale of
insurance Except? - answers-Telephone call from an agent.
A contract in which one party promises to indemnify another against loss that arises
from an unknown event is - answers-an insurance policy.
All of the occurrences listed below are examples of an insurable event as defined by the
California Insurance code EXCEPT? - answers-an insured suffers a financial loss in the
state lottery.
all of the following statements about aleatory contracts are true EXCEPT? - answers-the
insured and insurer contribute equally to the contract.
all of the following would be considered unfair trade practices EXCEPT? - answers-
committing any act of discrimination whether it be deemed fair or unfair.
As authorized by the California Insurance Code, the Insurance Commissioner has
provided standards for names used by life insurance agents. Under these standards
which, if any, of the following are automatically acceptable for Mary Brown, a holder of
the CLU designation? - answers-Mary Brown Insurance Services.
A contract of indemnity is one in which? - answers-one party is restored to the same
financial position the party was in before the loss occurred.
In insurance terminology, "indemnity means? - answers-to make whole.
As defined in the California insurance Code, "insurance" is a? - answers-Contract
what would a person be guilty of who refuses to deliver any books records, or assets to
the commissioner once a seizure order has been executed? - answers-A misdemeanor.
,An agent who is acting as an insurance agent, broker, solicitor, life agent, accident and
health, or bail agent acts in which capacity when handling premiums or return premiums
for an insured? - answers-fiduciary
which of the following statements regarding risk is TRUE? - answers-Only pure risks are
insurable.
the purchase of an insurance policy may accomplish all of the following Except? -
answers-the elimination of risk
Insureds are entitled to recover an amount NOT greater than the amount of their loss
under the principle of - answers-Indemnity.
What rule is used to determine the importance of a representation? - answers-The
materiality of concealment.
The required contents of a policy include all of the following EXCEPT? - answers-The
probability of loss
All of the following are characteristics of reinsurance EXCEPT ? - answers-Increases
the unearned premium reserve
According to the California code, an insurance policy must specify all of the Following
Except? - answers-the financial rating of the insurer
all of the following qualify as "background information" as defined in section 1729.2 of
the California Insurance Code, Except? - answers-misdemeanor charges filed, not
resulting in a conviction.
Loss retention is an effective risk management technique when all of the following
conditions exist EXCEPT the - answers-probability of loss is unknown.
a situation in which there is a possibility of loss or a gain is a - answers-speculative risk
Why is having a large number of similar exposure units important to insurers? -
answers-the greater the number insured, the more accurately the insurer can predict
losses and set appropriate premiums.
all of the following are benefits of insurance Except it ? - answers-eliminates fraudulent
losses.
who are members of the Medical information Bureau? - answers-Life and Health
insurers
the process by which an insurer decides whether to issue requested insurance is
called? - answers-underwriting
, Unless it is merely a statement of an expectation or a belief, a representation as to the
future is considered which of the following? - answers-Promise
Upon notification of a claim, a claimant must be given access to the California Fair
Claims Settlement Practices resolution by all of the following means EXCEPT -
answers-by interview appointment with the agent of record.
what is the definition of premium? - answers-Money an insured pays an insurer to
obtain the benefits provided in the policy.
what is the goal of the underwriting process? - answers-to avoid selecting a
disproportionate number of bad risk.
Insurer policy expenses include all of the following EXCEPT - answers-premiums
unintentional concealment entitles the injured party to which course of action, if any? -
answers-rescission of the contract.
Making an insured whole by restoring them to the same condition as before a loss is an
example of - answers-the principles of indemnity.
Risk can be defined as all of the following EXCEPT - answers-the cause of loss
which of the following is a requirement of a contract - answers-there must be an offer
acceptance of the contract terms.
Moral hazard can be defined as the increase - answers-chance of a loss occurring due
to an insured's dishonest tendencies
according to the california insurance code, the commissioner can disapprove a
licensee's request to use a fictitious name for any of the following reasons except that
the name - answers-name is the licensee's actual name.
it is considered an unfair method of competition for an agent to advertise that the insurer
the gent is appointed with is - answers-a member of the Insurance guarantee
association.
all of the following are requirements of a contract except? - answers-there must be
equal consideration between the parties.
If an insurer must have its rates accepted by the insurance Department prior to using
them, the insurer would be operating in which of the following types of jurisdictions? -
answers-prior approval.
SICKNESS EXAM (LIFE AGENT) (3 VERSIONS) LATEST
2025 REAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILS (VERIFIED ANSWERS) |ALREADY
GRADED A+
which of the following is NOT an example of cost sharing in a health insurance policy -
answers-Coordination
in the absence of a coordination of benefits clause, all of the following circumstances
might result in recovery of more than 100% of actual health care expenses EXCEPT: -
answers-a worker's medical plan includes a carry-over deductible provision.
what rights do individuals have if they disagree with a decision on the amount Medicare
will pay? - answers-they can ask a Medicare carrier to review the decision.
An individual is allowed to enroll in individual health insurance under the following
circumstances EXCEPT - answers-within 30 days of being diagnosed with an illness.
Medicare Part A provides coverage for all of the following Except - answers-physicians'
services
the type of health care provider that provides both the health care services and health
care coverage is called - answers-a Health Maintenance Organization
in medical expense insurance, what serves the same purpose as the elimination period
in disability income insurance? - answers-Deductible
which program pays the cost of nursing home care for people who cannot afford it
themselves? - answers-Medi cal
a health insurance issuer offering coverage in the individual market must provide
premium rebates if its medical loss ratio (MLR) is less than what percentage? -
answers-80%
According to the California Insurance Code, all of the following Long-term Care (LTC
insurance sales are considered unnecessary except - answers-a replacement LTC
POLICY with equal benefits for a lower premium
which of the following statements concerning the usual coordination of benefits
provision is correct? - answers-when two plans both have the provision, coverage as an
employee is primary to coverage as a dependent.
,what is meant by referring to an insurance policy as a unilateral contract? - answers-
Only one party makes a legally enforceable promise.
When must insurance records of insurance agents and brokers be made available to
the insurance commissioner? - answers-At all times.
Any situation that presents the possibility of a loss is known as? - answers-a loss
exposure.
Which of the following information is not required to be communicated in a Life
insurance contract? - answers-Personal Judgement
the direct distribution of insurance utilizes all of the following to mote the sale of
insurance Except? - answers-Telephone call from an agent.
A contract in which one party promises to indemnify another against loss that arises
from an unknown event is - answers-an insurance policy.
All of the occurrences listed below are examples of an insurable event as defined by the
California Insurance code EXCEPT? - answers-an insured suffers a financial loss in the
state lottery.
all of the following statements about aleatory contracts are true EXCEPT? - answers-the
insured and insurer contribute equally to the contract.
all of the following would be considered unfair trade practices EXCEPT? - answers-
committing any act of discrimination whether it be deemed fair or unfair.
As authorized by the California Insurance Code, the Insurance Commissioner has
provided standards for names used by life insurance agents. Under these standards
which, if any, of the following are automatically acceptable for Mary Brown, a holder of
the CLU designation? - answers-Mary Brown Insurance Services.
A contract of indemnity is one in which? - answers-one party is restored to the same
financial position the party was in before the loss occurred.
In insurance terminology, "indemnity means? - answers-to make whole.
As defined in the California insurance Code, "insurance" is a? - answers-Contract
what would a person be guilty of who refuses to deliver any books records, or assets to
the commissioner once a seizure order has been executed? - answers-A misdemeanor.
,An agent who is acting as an insurance agent, broker, solicitor, life agent, accident and
health, or bail agent acts in which capacity when handling premiums or return premiums
for an insured? - answers-fiduciary
which of the following statements regarding risk is TRUE? - answers-Only pure risks are
insurable.
the purchase of an insurance policy may accomplish all of the following Except? -
answers-the elimination of risk
Insureds are entitled to recover an amount NOT greater than the amount of their loss
under the principle of - answers-Indemnity.
What rule is used to determine the importance of a representation? - answers-The
materiality of concealment.
The required contents of a policy include all of the following EXCEPT? - answers-The
probability of loss
All of the following are characteristics of reinsurance EXCEPT ? - answers-Increases
the unearned premium reserve
According to the California code, an insurance policy must specify all of the Following
Except? - answers-the financial rating of the insurer
all of the following qualify as "background information" as defined in section 1729.2 of
the California Insurance Code, Except? - answers-misdemeanor charges filed, not
resulting in a conviction.
Loss retention is an effective risk management technique when all of the following
conditions exist EXCEPT the - answers-probability of loss is unknown.
a situation in which there is a possibility of loss or a gain is a - answers-speculative risk
Why is having a large number of similar exposure units important to insurers? -
answers-the greater the number insured, the more accurately the insurer can predict
losses and set appropriate premiums.
all of the following are benefits of insurance Except it ? - answers-eliminates fraudulent
losses.
who are members of the Medical information Bureau? - answers-Life and Health
insurers
the process by which an insurer decides whether to issue requested insurance is
called? - answers-underwriting
, Unless it is merely a statement of an expectation or a belief, a representation as to the
future is considered which of the following? - answers-Promise
Upon notification of a claim, a claimant must be given access to the California Fair
Claims Settlement Practices resolution by all of the following means EXCEPT -
answers-by interview appointment with the agent of record.
what is the definition of premium? - answers-Money an insured pays an insurer to
obtain the benefits provided in the policy.
what is the goal of the underwriting process? - answers-to avoid selecting a
disproportionate number of bad risk.
Insurer policy expenses include all of the following EXCEPT - answers-premiums
unintentional concealment entitles the injured party to which course of action, if any? -
answers-rescission of the contract.
Making an insured whole by restoring them to the same condition as before a loss is an
example of - answers-the principles of indemnity.
Risk can be defined as all of the following EXCEPT - answers-the cause of loss
which of the following is a requirement of a contract - answers-there must be an offer
acceptance of the contract terms.
Moral hazard can be defined as the increase - answers-chance of a loss occurring due
to an insured's dishonest tendencies
according to the california insurance code, the commissioner can disapprove a
licensee's request to use a fictitious name for any of the following reasons except that
the name - answers-name is the licensee's actual name.
it is considered an unfair method of competition for an agent to advertise that the insurer
the gent is appointed with is - answers-a member of the Insurance guarantee
association.
all of the following are requirements of a contract except? - answers-there must be
equal consideration between the parties.
If an insurer must have its rates accepted by the insurance Department prior to using
them, the insurer would be operating in which of the following types of jurisdictions? -
answers-prior approval.