COMBINED PSI Life, Accident, Health Practice Exam Questions with Verified Solution Top-Rated 2024

The economic characteristics of land are - scarcity, location, and durability A major difference between freehold and nonfreehold estates is that all freehold estates - are of indeterminable duration An easement can be terminated by - merger of titles The land description T3N, R4W Principal...

Which policy provision permits the policy owner to take a specified number of days to examine the contract, and allows for cancellation and a full refund if the policy owner rejects the terms or costs? - Free Look When will a policy pay on a UCR basis? - When particular benefits are not listed on...

Which policy provision permits the policy owner to take a specified number of days to examine the contract, and allows for cancellation and a full refund if the policy owner rejects the terms or costs? - Free Look When will a policy pay on a UCR basis? - When particular benefits are not listed on...

Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? - Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Which of th...

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 fo...

Dividends that are received by a life insurance policy holder can be taxed in what situation(s): I - When the dividend amount received exceeds the amount that the policy holder paid in premiums - The amount received that is over and above the amount paid into the policy via premiums is considered ...

Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-year mortgage in the event of the insured's death? - 30-year decreasing term. How many days notice does the ACA require insurers to give before rescinding coverage? - 30 A signed good health stat...

How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - 2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiu...

A group conversion option may be used in all the following instances EXCEPT - a life-changing event, such as marriage, divorce, or childbirth. Which is the primary purpose of Health Reimbursement Accounts (HRAs)? - To assist covered employees with the payment of medical expenses on a high deducti...

What happens when an initial offer is answered with a counteroffer? - Initial offer is void According to the Affordable Care Act (ACA), dependent children may remain on their parent's plan until what age? - Age 26 The premiums paid by an employer for his employee's group life insurance are u...

Process 2103 (d-i) - 1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this section and every pr...