1
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California PSI - Life Insurance Exam
Questions and Answers (100% Correct
Answers) Already Graded A+
When is a representation false? [ Ans: ] when the facts fail to
correspond with its assertions or stipulations
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Which of the following is TRUE regarding the use of fictitious names
for business? [ Ans: ] The actual and fictitious business names
must be registered with the commissioner
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Which is an ACCURATE statement regarding dependent
coverage under a group insurance policy? [ Ans: ] The
coverage must not exceed more than 100 percent of the
coverage for the insured employee
According to CIC Section 1711, an organization ceases to exist as
an entity eligible to hold a license EXCEPT [ Ans: ] upon the
termination of all contracts
As long as employment continues, which is the ONLY reason the
validity of a group life insurance policy can be contested? [ Ans:
] Non-payment of premiums after the policy has bee in force for
two years.
All of the following are TRUE about the rules regarding the sale of
life insurance and annuities to seniors age 65 or older EXCEPT [
Ans: ] The agent, broker, or insurer is required to show a copy of
their insurance license with name, address, and phone number
when conducting business in the senior home
, 2
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What is a solicitor employed to do for a policy other than life? [
Ans: ] To aid a property and casualty agent or broker in
transacting insurance
All of the following are examples of representation except [ Ans: ]
It may be altered after the insurance is effected
Except as provided by sections 10203.5 and 10203.8 in the CIC,
the insurer shall provide which document to be delivered by the
employer to the employee? [ Ans: ] An individual certification of
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insurance
What is the purpose of creating minimum underwriting standards
for those testing positive for Acquired Immune Deficiency
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Syndrome, Human Immunodeficiency Virus or Aids Related
Complex? [ Ans: ] To avoid discrimination between individuals in
the same rating class who have been diagnosed with the
conditions of AIDS, ARC or HIV
Which of the following is TRUE regarding continuing eduction
requirements of an agent or broker? [ Ans: ] Any licensee shall
satisfactorily complete 24 hours of instruction prior to license
renewal.
Which of the following provisions of free insurance offered as
incentive to purchase or rent property is TRUE? [ Ans: ] It requires
a separate charge or fee.
Which is the maximum fine for a person who transacts insurance
without a valid license? [ Ans: ] $50,000 and/or imprisonment for
a period not exceeding one year.
For Expert help and assignment solutions, +254707240657
California PSI - Life Insurance Exam
Questions and Answers (100% Correct
Answers) Already Graded A+
When is a representation false? [ Ans: ] when the facts fail to
correspond with its assertions or stipulations
© 2025 Assignment Expert
Which of the following is TRUE regarding the use of fictitious names
for business? [ Ans: ] The actual and fictitious business names
must be registered with the commissioner
Guru01 - Stuvia
Which is an ACCURATE statement regarding dependent
coverage under a group insurance policy? [ Ans: ] The
coverage must not exceed more than 100 percent of the
coverage for the insured employee
According to CIC Section 1711, an organization ceases to exist as
an entity eligible to hold a license EXCEPT [ Ans: ] upon the
termination of all contracts
As long as employment continues, which is the ONLY reason the
validity of a group life insurance policy can be contested? [ Ans:
] Non-payment of premiums after the policy has bee in force for
two years.
All of the following are TRUE about the rules regarding the sale of
life insurance and annuities to seniors age 65 or older EXCEPT [
Ans: ] The agent, broker, or insurer is required to show a copy of
their insurance license with name, address, and phone number
when conducting business in the senior home
, 2
For Expert help and assignment solutions, +254707240657
What is a solicitor employed to do for a policy other than life? [
Ans: ] To aid a property and casualty agent or broker in
transacting insurance
All of the following are examples of representation except [ Ans: ]
It may be altered after the insurance is effected
Except as provided by sections 10203.5 and 10203.8 in the CIC,
the insurer shall provide which document to be delivered by the
employer to the employee? [ Ans: ] An individual certification of
© 2025 Assignment Expert
insurance
What is the purpose of creating minimum underwriting standards
for those testing positive for Acquired Immune Deficiency
Guru01 - Stuvia
Syndrome, Human Immunodeficiency Virus or Aids Related
Complex? [ Ans: ] To avoid discrimination between individuals in
the same rating class who have been diagnosed with the
conditions of AIDS, ARC or HIV
Which of the following is TRUE regarding continuing eduction
requirements of an agent or broker? [ Ans: ] Any licensee shall
satisfactorily complete 24 hours of instruction prior to license
renewal.
Which of the following provisions of free insurance offered as
incentive to purchase or rent property is TRUE? [ Ans: ] It requires
a separate charge or fee.
Which is the maximum fine for a person who transacts insurance
without a valid license? [ Ans: ] $50,000 and/or imprisonment for
a period not exceeding one year.
