PSI Practice exam NJ
All of the following are ownership rights EXCEPT:
A: changing the beneficiary of the policy
B: borrowing finances towards coins fee
C: switching the policy from on insured to some other
D: assigning all of the rights of the coverage to any other man or woman - ANSC: switching the
coverage from on insured to every other
which of the subsequent is feature of a non qualified plan:
A: described vesting time table
B: plan set up through the company
C: plan does not meet federal hints for tax advantages
D: organization contributions are deductible commercial enterprise price - ANSC: plan does now
not meet federal hints for tax benefits
How do warranties range from representations?
A: a warranty is guaranteed to be true, a illustration is thought to be actual to the satisfactory of
one's knowledge
B: a representation is assured to be proper, a assurance is believed to be genuine to the great
of 1's expertise
C: a guarantee is issued by the insurer, a illustration is a announcement supplied by using the
applicant
D: an incorrect representation robotically voids a agreement, while an incorrect warranty need to
be tested - ANSA: a assurance is assured to be real, a illustration is assumed to be real to the
great of 1's information
in which of the following ought to a beneficiary exchange request be filed in writing to the insurer
and is made effective through the insurance agency:
A: designation choice
B: recording approach
C: endorsement technique
D: succession of beneficiaries - ANSB: recording method
all of the following are required signature on a lifestyles insurance utility EXCEPT:
A: the agent
B: the applicant
C: the minor in a juvenile coverage
D: the proposed insured - ANSC: the minor in a juvenile policy
all of the following are functions of the spendthrift clause EXCEPT:
A: proceeds are paid in some other way than a unmarried top rate
, B: proceeds are covered with the aid of the insurer from the beneficiary's lenders
C: switch of proceeds to lenders
D: the beneficiary might also encumber the proceeds - ANSD: the beneficiary may also
encumber the proceeds
Which kind of annuity attempts to offset inflation by way of offering a benefit linked to an
underlying funding account:
A: deferred
B: constant
C: on the spot
D: variable - ANSD: variable
how does the consistent with capita rule observe to proceeds from a existence insurance policy:
A: the proceeds are divided similarly among residing number one beneficiaries
B: the secondary beneficiary gets the proceeds if the primary beneficiary is no longer residing
C: the proceeds visit the policyholder's estate whilst no beneficiary is residing
D: the proceeds go to the descendants of the number one beneficiaries - ANSA: the proceeds
are divided equally among dwelling primary beneficiaries
if the insurer wishes to share an applicant's HIV reputation, the applicant must receive full note
of all of the following EXCEPT:
A: insurer's practices with appreciate to the treatment of this statistics
B: the applicant's proper to hold privacy
C: an opportunity to refuse the dissemination of the information
D: the remedy approaches that are protected by using the coverage - ANSD: the treatment
strategies that are blanketed by the policy
which of the subsequent is the time restriction on sure defenses and then the policy becomes
incontestable:
A: one year
B: 18 months
C: 2 years
D: 5 years - ANSC: 2 years
why is relying solely on organization institution life coverage usually considered inadequate for
maximum character needs:
A: it is financially insufficient to cover stop of life expense - ANSA: it's miles financially
insufficient to cover end of existence expense
modern-day assumption whole existence policies are touchy to which of the following:
A: hobby fees
B: age of the insured
C: health of the insured
D: modern-day coins price of the coverage - ANSA: hobby costs
All of the following are ownership rights EXCEPT:
A: changing the beneficiary of the policy
B: borrowing finances towards coins fee
C: switching the policy from on insured to some other
D: assigning all of the rights of the coverage to any other man or woman - ANSC: switching the
coverage from on insured to every other
which of the subsequent is feature of a non qualified plan:
A: described vesting time table
B: plan set up through the company
C: plan does not meet federal hints for tax advantages
D: organization contributions are deductible commercial enterprise price - ANSC: plan does now
not meet federal hints for tax benefits
How do warranties range from representations?
A: a warranty is guaranteed to be true, a illustration is thought to be actual to the satisfactory of
one's knowledge
B: a representation is assured to be proper, a assurance is believed to be genuine to the great
of 1's expertise
C: a guarantee is issued by the insurer, a illustration is a announcement supplied by using the
applicant
D: an incorrect representation robotically voids a agreement, while an incorrect warranty need to
be tested - ANSA: a assurance is assured to be real, a illustration is assumed to be real to the
great of 1's information
in which of the following ought to a beneficiary exchange request be filed in writing to the insurer
and is made effective through the insurance agency:
A: designation choice
B: recording approach
C: endorsement technique
D: succession of beneficiaries - ANSB: recording method
all of the following are required signature on a lifestyles insurance utility EXCEPT:
A: the agent
B: the applicant
C: the minor in a juvenile coverage
D: the proposed insured - ANSC: the minor in a juvenile policy
all of the following are functions of the spendthrift clause EXCEPT:
A: proceeds are paid in some other way than a unmarried top rate
, B: proceeds are covered with the aid of the insurer from the beneficiary's lenders
C: switch of proceeds to lenders
D: the beneficiary might also encumber the proceeds - ANSD: the beneficiary may also
encumber the proceeds
Which kind of annuity attempts to offset inflation by way of offering a benefit linked to an
underlying funding account:
A: deferred
B: constant
C: on the spot
D: variable - ANSD: variable
how does the consistent with capita rule observe to proceeds from a existence insurance policy:
A: the proceeds are divided similarly among residing number one beneficiaries
B: the secondary beneficiary gets the proceeds if the primary beneficiary is no longer residing
C: the proceeds visit the policyholder's estate whilst no beneficiary is residing
D: the proceeds go to the descendants of the number one beneficiaries - ANSA: the proceeds
are divided equally among dwelling primary beneficiaries
if the insurer wishes to share an applicant's HIV reputation, the applicant must receive full note
of all of the following EXCEPT:
A: insurer's practices with appreciate to the treatment of this statistics
B: the applicant's proper to hold privacy
C: an opportunity to refuse the dissemination of the information
D: the remedy approaches that are protected by using the coverage - ANSD: the treatment
strategies that are blanketed by the policy
which of the subsequent is the time restriction on sure defenses and then the policy becomes
incontestable:
A: one year
B: 18 months
C: 2 years
D: 5 years - ANSC: 2 years
why is relying solely on organization institution life coverage usually considered inadequate for
maximum character needs:
A: it is financially insufficient to cover stop of life expense - ANSA: it's miles financially
insufficient to cover end of existence expense
modern-day assumption whole existence policies are touchy to which of the following:
A: hobby fees
B: age of the insured
C: health of the insured
D: modern-day coins price of the coverage - ANSA: hobby costs
