PSI Life, Accident, Health Practice Exam
Questions With All Correct Answers (Graded A)
Which is an ACCURATE statement regarding benefits of Medicare supplement and Medicare select
plans?
1
The insurer is able to cancel, or deny renewal of an existing policy, based solely on the health of the
insured.
2
There is no restriction for benefits after the coverage has been in effect for six months when
involving a preexisting condition.
3
The coverage for a loss from an illness or disease is treated differently than for a loss resulting from
an injury due to an accident.
4
The coverage for a spouse cannot be terminated for any reason, including for nonpayment of
premiums. - 2
There is no restriction for benefits after the coverage has been in effect for six months when
involving a preexisting condition.
How is the insurance commissioner chosen?
1
Elected by the people.
2
Appointed by the Governor
3
,Selected by a vote in the House and the Senate.
4
Randomly selected from a list of qualified candidates. - 1
Elected by the people.
An insurance agent is a person who transacts all of the following types of insurance EXCEPT:
1
annuities.
2
homeowners.
3
auto insurance.
4
life insurance. - 4
life insurance.
The California Legislature declared all of the following when creating the Healthy Families Program
EXCEPT:
1
that most uninsured children come from low-income families.
2
lack of educational resources for children and their parents leads to increased medical expenses.
3
that lack of insurance coverage for children results in reduced access to medical services.
,4
when a child is seriously ill or injured, the costs of needed medical care can force families into
financial ruin. - 2
lack of educational resources for children and their parents leads to increased medical expenses.
Which of the following BEST defines the general concept of the 24-hour care plan?
1
It integrates workers compensation medical care with the care provided by group health insurance.
2
It provides immediate medical care from any source for injuries on which occur on the job.
3
It permits non job related injuries to be treated through the worker?s compensation program.
4
It pays any medical bill from a job related injury for services within the first 24 hours of the injury. -
1
It integrates workers compensation medical care with the care provided by group health insurance.
How does an "admitted" person differ from an "nonadmitted" person, as it pertains to insurance?
1
An "admitted" person has admitted to a crime or fraud, while a "nonadmitted" person has not.
2
An "admitted" person has been granted admission to an insurance association, while a
"nonadmitted" person has not been accepted.
3
An "admitted" person has been admitted to an accreditation program, while a "nonadmitted"
person has yet to earn the credits.
, 4
An "admitted" person has the right to transact insurance business within the state, while a
"nonadmitted" person is not entitled to this action. - 4
An "admitted" person has the right to transact insurance business within the state, while a
"nonadmitted" person is not entitled to this action.
When may a licensee surrender for cancellation any license under which they are permitted to act?
1
upon renewal of the license
2
within 60 days of renewal of their license
3
at any time
4
when they no longer have any clients with policies in force - 3
at any time
When does a disability policy become incontestable as to the statements contained in the
application?
1
After this policy been in force for a period of one year during the lifetime of the insured.
2
After this policy been in force for a period of two years during the lifetime of the insured.
3
When the company has confirmed all of the statements and issued a binding contract.
Questions With All Correct Answers (Graded A)
Which is an ACCURATE statement regarding benefits of Medicare supplement and Medicare select
plans?
1
The insurer is able to cancel, or deny renewal of an existing policy, based solely on the health of the
insured.
2
There is no restriction for benefits after the coverage has been in effect for six months when
involving a preexisting condition.
3
The coverage for a loss from an illness or disease is treated differently than for a loss resulting from
an injury due to an accident.
4
The coverage for a spouse cannot be terminated for any reason, including for nonpayment of
premiums. - 2
There is no restriction for benefits after the coverage has been in effect for six months when
involving a preexisting condition.
How is the insurance commissioner chosen?
1
Elected by the people.
2
Appointed by the Governor
3
,Selected by a vote in the House and the Senate.
4
Randomly selected from a list of qualified candidates. - 1
Elected by the people.
An insurance agent is a person who transacts all of the following types of insurance EXCEPT:
1
annuities.
2
homeowners.
3
auto insurance.
4
life insurance. - 4
life insurance.
The California Legislature declared all of the following when creating the Healthy Families Program
EXCEPT:
1
that most uninsured children come from low-income families.
2
lack of educational resources for children and their parents leads to increased medical expenses.
3
that lack of insurance coverage for children results in reduced access to medical services.
,4
when a child is seriously ill or injured, the costs of needed medical care can force families into
financial ruin. - 2
lack of educational resources for children and their parents leads to increased medical expenses.
Which of the following BEST defines the general concept of the 24-hour care plan?
1
It integrates workers compensation medical care with the care provided by group health insurance.
2
It provides immediate medical care from any source for injuries on which occur on the job.
3
It permits non job related injuries to be treated through the worker?s compensation program.
4
It pays any medical bill from a job related injury for services within the first 24 hours of the injury. -
1
It integrates workers compensation medical care with the care provided by group health insurance.
How does an "admitted" person differ from an "nonadmitted" person, as it pertains to insurance?
1
An "admitted" person has admitted to a crime or fraud, while a "nonadmitted" person has not.
2
An "admitted" person has been granted admission to an insurance association, while a
"nonadmitted" person has not been accepted.
3
An "admitted" person has been admitted to an accreditation program, while a "nonadmitted"
person has yet to earn the credits.
, 4
An "admitted" person has the right to transact insurance business within the state, while a
"nonadmitted" person is not entitled to this action. - 4
An "admitted" person has the right to transact insurance business within the state, while a
"nonadmitted" person is not entitled to this action.
When may a licensee surrender for cancellation any license under which they are permitted to act?
1
upon renewal of the license
2
within 60 days of renewal of their license
3
at any time
4
when they no longer have any clients with policies in force - 3
at any time
When does a disability policy become incontestable as to the statements contained in the
application?
1
After this policy been in force for a period of one year during the lifetime of the insured.
2
After this policy been in force for a period of two years during the lifetime of the insured.
3
When the company has confirmed all of the statements and issued a binding contract.
