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CA LIFE EXAM - PSI QUESTIONS WITH
CORRECT ANSWERS
The systematic liquidation of a sum of money is provided by-correct-answer-
annuity
What distinguishes a deferred annuity from an immediate annuity?-correct-
answer-The time at which benefit payments start
How long no is a person expected to be disabled in order to receive social security
disability benefits?-correct-answer-12 months
Which type of worker has Social Security benefits available to them?-correct-
answer-fully insured
The reason for social insurance is to-correct-answer-protect certain vulnerable
segments of the population
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According to Social Security, an individual with six credits of coverage during the
previous 13-quarter period is considered to be-correct-answer-Currently insured
The "blackout period" affects whose benefits?-correct-answer-Surviving spouse
What is considered to be the definition of disability, according to social security?-
correct-answer-Unable to engage in any substantial gainful activity
What determines the Social Security normal retirement age?-correct-answer-Year
in which worker was born
Which statement is not true regarding Social Security benefits?-correct-answer-
Benefits are designed to replace the entire amount of the workers earnings
At what age is a surviving spouse without dependents eligible for Social Security
survivor benefits?-correct-answer-60
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In order to be considered "currently insured" under Social Security, an individual
must be credited with:-correct-answer-6 quarters of coverage during the last 13-
quarter period
A worker is entitled to Social Security disability benefits if all of the following are
true EXCEPT for-correct-answer-Worker cannot perform his or her current job, but
is actively seeking other employment
According to the California Insurance Code, what is "insurance"?-correct-answer-
A contract
A representation may be altered or withdrawn-correct-answer-only before the
insurance is in effect
The California insurance code has authorized standards for names used by life
insurance agents. Which of the following, if any, are automatically acceptable for
Lance Manyon, a holder of the CLU designation?-correct-answer-Lance Manyon
insurance services
When intentional concealment is involved, what course of action is the injured
party entitled to?-correct-answer-Recession of the contract
CA LIFE EXAM - PSI QUESTIONS WITH
CORRECT ANSWERS
The systematic liquidation of a sum of money is provided by-correct-answer-
annuity
What distinguishes a deferred annuity from an immediate annuity?-correct-
answer-The time at which benefit payments start
How long no is a person expected to be disabled in order to receive social security
disability benefits?-correct-answer-12 months
Which type of worker has Social Security benefits available to them?-correct-
answer-fully insured
The reason for social insurance is to-correct-answer-protect certain vulnerable
segments of the population
,2|Page
According to Social Security, an individual with six credits of coverage during the
previous 13-quarter period is considered to be-correct-answer-Currently insured
The "blackout period" affects whose benefits?-correct-answer-Surviving spouse
What is considered to be the definition of disability, according to social security?-
correct-answer-Unable to engage in any substantial gainful activity
What determines the Social Security normal retirement age?-correct-answer-Year
in which worker was born
Which statement is not true regarding Social Security benefits?-correct-answer-
Benefits are designed to replace the entire amount of the workers earnings
At what age is a surviving spouse without dependents eligible for Social Security
survivor benefits?-correct-answer-60
, 3|Page
In order to be considered "currently insured" under Social Security, an individual
must be credited with:-correct-answer-6 quarters of coverage during the last 13-
quarter period
A worker is entitled to Social Security disability benefits if all of the following are
true EXCEPT for-correct-answer-Worker cannot perform his or her current job, but
is actively seeking other employment
According to the California Insurance Code, what is "insurance"?-correct-answer-
A contract
A representation may be altered or withdrawn-correct-answer-only before the
insurance is in effect
The California insurance code has authorized standards for names used by life
insurance agents. Which of the following, if any, are automatically acceptable for
Lance Manyon, a holder of the CLU designation?-correct-answer-Lance Manyon
insurance services
When intentional concealment is involved, what course of action is the injured
party entitled to?-correct-answer-Recession of the contract
