PCIP Psi Proficiency Exam Readiness Exam Pre-Assessment Questions and Verified Answers 2024/2025
Which of the following is true regarding continuing education requirements of an agent or broker - correct answer any licensee shall satisfactorily complete 24 hours of instruction prior to license r...
PCIP Psi Proficiency Exam Readiness Exam Pre-Assessment
Questions and Verified Answers 2024/2025
Which of the following is true regarding continuing education requirements of an
agent or broker - correct answer any licensee shall satisfactorily complete 24
hours of instruction prior to license renewal.
All of the following are included as definitions of "transact" as applied to
insurance except: - correct answer underwriting
Included in the definition of transact:
Solicitation.
Negotiations preliminary to execution. Execution of a contract have insurance.
When is the practice of post claims underwriting allowable on disability insurance
covering hospital, medical or surgical expenses - correct answer at no time.
Which is an accurate statement regarding a life settlement contract - correct
answer inaccurate: the loan proceeds are used to solely pay premiums for the
policy and any expenses incurred.
Accurate:
The owner receives the guarantee of the future settlement value.
A finance loan made for a policy on or before the issuance of the policy.
The owner agrees to sell the policy or any portion of the death benefit following
the policy issue.
In the event of receiving notice of a claim or other claim communication all of the
following timelines are accurate except: - correct answer inaccurate: every
,licensee or claims agent shall transmit notice of the claim to ensure and no more
than 5 calendar days.
When a replacement policy is being considered what is required from an insurer -
correct answer a list of existing policies, replacement notice signed by the
applicant and the agent, and a notice sent to any existing ensures that
replacement is possible.
And insurance agent means a person authorized, by and on behalf of the insured,
treat transact which of the following class of insurance - correct answer annuities.
When shall an individual certificate be deemed to be individualized within the
meaning of the cic - correct answer if it contains either the name of the person
covered or some other means of identifying to the individual covered that it is his
individual certificate.
Under which situation where an individual enrolled in medicare part b in eligible
for open enrollment - correct answer notice of end stage renal disease from the
primary care physician.
Which of the following provisions applies in the event of a miss statement of age
for a covered employee of the group life policy - correct answer there shall be an
equitable adjustment of premium or in the amount of insurance.
What is the punishment for a person refuses to deliver books, records, or assets to
the commissioner when subject to a seizure order in an insolvency proceeding -
correct answer not more than $1000 fine and or one year inprisonment.
Which of the following may be described as in administrator of life or health
coverage or annuities - correct answer the insurance commissioner who has
access to the records for examination audit and inspection purposes.
, All of the following conditions provide a basis for group life insurance coverage
except: - correct answer amounts of insurance may be selected as needed per
individuals personal need.
Which of the following may insurers use in their underwriting - correct answer
family medical history.
Cannot use:
Ancestery.
Genetic characteristics.
National origin.
And insurance agent as a person who turn tax all of the following types of
insurance except: - correct answer life insurance
Does transact:
Annuities
Homeowners
Auto
Call of the following are to be specified in an insurance policy except: - correct
answer the financial raining at the insured.
To be specified:
A statement of the expected premium.
The parties between home the contract is made.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller KieranKent55. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
