PSI Practice exam NJ questions with complete answers

PSI Practice exam NJ questions with complete answers which of the following occurs immediately after the application is submitted and the initial premium paid: A: the underwriting process begins B: the applicant's references are checked C: the beneficiaries are selected D: the insurance goes into effect - Answer- A: the underwriting process begins why is accidental death benefit referred to as double indemnity: A: it provides for both the actual death as well as other losses form the accident B: it provides twice the face value in the policy for death due to accident C: the beneficiaries have twice the amount of time to provide proof of loss D:the beneficiaries must provide proof of death due to multiple causes - Answer- B: it provides twice the face value in the policy for death due to accident what producer is used by an insurer to protect itself in the event a dispute arises and the applicant and the agent do not recall the changes that were made in completed application: A: the applicant and possibly the agent initial any changes made B: the applicant and the agent sign a document that outlines the changes made C: an arbitration agreement is signed at the time of the signing of the application D: all changes must be approved by the underwriter prior to the submission of the application - Answer- A: the applicant and possibly the agent initial any changes made