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CA PSI SITE - LIFE, ACCIDENT AND HEALTH OR SICKNESS EXAM QUESTIONS WITH 100% CORRECT ANSWERS LATEST VERSION 2025/2026.

LIFE, ACCIDENT AND HEALTH OR SICKNESS EXAMINATION LATEST ACTUAL EXAM TEST BANK 600 QUESTIONS AND CORRECT ANSWERS

Life, Accident and Health Exam Questions and Answers Latest Version Already Passed What does an accidental death benefit rider do? Pays an additional benefit if the insured dies due to an accident Why is the “contestability period” important in life insurance? It allows the insurer to investigate and deny claims based on misstatements within a certain time frame What does “renewable term insurance” mean? The policy can be renewed at the end of the term without new...

LIFE, ACCIDENT AND HEALTH OR SICKNESS EXAMINATION WITH ACCURATELY EXPLAINED ANSWERS

what is meant by referring to an insurance policy as a unilateral contract? Only one party makes a legally enforceable promise. 2. When must insurance records of insurance agents and brokers be made available to the insurance commissioner? At all times. 3. Any situation that presents the possibility of a loss is known as? a loss exposure. 4. Which of the following information is not required to be communicated in a Life insurance contract? Personal Judgement 5. the direct d...

Life, Accident And Health Producer Exam Questions And Answers Paul is an employee who caught a disease unique to the trade in which he was exposed to. Paul has a(n) ANS Occupational disease An immediate annuity has been purchased with a single premium. When does the annuitant typically begin receiving benefit payments? ANS 1 month Under which circumstance may a deferred insurance commission be paid to an individual? ANS Individual was a licensed producer at the time of the sale Unde...

Life, Accident and Health Exam Study Guide with Complete Solutions Annuity - Answer--A contract between a person and an insurance company that requires the insurer to make payments to you. -You buy an annuity by making either a single payment or a series of payments -Annuity Death benefits are NOT tax deductible or taxfree Dividends - Answer--Declared by the board of directors and cannot be guaranteed -A sum of money paid regularly by a company to its shareholders out of its profits Stoc...

Admitted Insurance Company vs. Non-Admitted Insurance Company - ANSWER An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Pure Risk vs. Speculative Risk - ANSWER Pure risks are insurable but Specu...

Annuity - ANSWER -A contract between a person and an insurance company that requires the insurer to make payments