age 1 of 189
CA PSI SITE LIFE ACCIDENT AND HEALTH OR SICKNESS
EXAM (LIFE AGENT) FINAL EXAM PREP 2025/2026
COMPLETE QUESTIONS WITH CORRECT DETAILED
ANSWERS || 100% GUARANTEED PASS <BRAND
NEW VERSION>
What is considered to be the primary reason for buying life
insurance?
Provide death benefits
Provide living benefits
Provide money for college
Provide money for retirement .......Answer.........Provide death
benefits
,age 2 of 189
Which of the following is NOT considered advertising?
An illustration
A sales presentation
Direct mailing from an agency
A rating from a rating service company, such as A.M. Best
.......Answer.........A rating from a rating service company, such as
A.M. Best
A type of insurer that is owned by its policyowners is called
stock
domestic
in-house
mutual .......Answer.........mutual
,age 3 of 189
ABC Insurance Company transfers part of their risk to XYZ
Insurance Company. This situation is called
conservation
reciprocity
reinsurance
risk transfer .......Answer.........reinsurance
What kind of life insurance policy issued by a mutual insurer
provides a return of divisible surplus?
straight life insurance policy
nonparticipating life insurance policy
participating life insurance policy
, age 4 of 189
divisible surplus life insurance policy
.......Answer.........participating life insurance policy
A nonparticipating policy will
provide tax advantages
provide a return of premium
give policyowners special privileges
not pay dividends .......Answer.........not pay dividends
Karen is a producer who has obtained personal information
about a client without having a legitimate reason to do so.
Under the McCarran-Ferguson Act, what is the minimum penalty
for this?
CA PSI SITE LIFE ACCIDENT AND HEALTH OR SICKNESS
EXAM (LIFE AGENT) FINAL EXAM PREP 2025/2026
COMPLETE QUESTIONS WITH CORRECT DETAILED
ANSWERS || 100% GUARANTEED PASS <BRAND
NEW VERSION>
What is considered to be the primary reason for buying life
insurance?
Provide death benefits
Provide living benefits
Provide money for college
Provide money for retirement .......Answer.........Provide death
benefits
,age 2 of 189
Which of the following is NOT considered advertising?
An illustration
A sales presentation
Direct mailing from an agency
A rating from a rating service company, such as A.M. Best
.......Answer.........A rating from a rating service company, such as
A.M. Best
A type of insurer that is owned by its policyowners is called
stock
domestic
in-house
mutual .......Answer.........mutual
,age 3 of 189
ABC Insurance Company transfers part of their risk to XYZ
Insurance Company. This situation is called
conservation
reciprocity
reinsurance
risk transfer .......Answer.........reinsurance
What kind of life insurance policy issued by a mutual insurer
provides a return of divisible surplus?
straight life insurance policy
nonparticipating life insurance policy
participating life insurance policy
, age 4 of 189
divisible surplus life insurance policy
.......Answer.........participating life insurance policy
A nonparticipating policy will
provide tax advantages
provide a return of premium
give policyowners special privileges
not pay dividends .......Answer.........not pay dividends
Karen is a producer who has obtained personal information
about a client without having a legitimate reason to do so.
Under the McCarran-Ferguson Act, what is the minimum penalty
for this?
