PSI Life, Accident, And Health Practice Exam Latest
2023-2024 Questions And Answers 100% Score!!!
Quiz :A group conversion option may be used in all the following instances
EXCEPT - Answer :a life-changing event, such as marriage, divorce, or
childbirth.
Quiz :Which is the primary purpose of Health Reimbursement Accounts
(HRAs)? - Answer :To assist covered employees with the payment of medical
expenses on a high deductible plan funded through pre-tax contributions.
Quiz :All of the following are characteristics of variable whole life EXCEPT -
Answer :there is no guaranteed minimum death benefit.
Quiz :When should a buy-sell agreement include a provision for the buy-out of
an owner's business interest in the event of a disability? - Answer :When there
is a buy-sell agreement funded with life insurance to buyout the interest of a
deceased owner or partner.
Quiz :Which of the following is TRUE of a point of service plan? - Answer :A
patient's care is coordinated by an in-network primary care physician.
Quiz :Which of the following coverage types pays a monthly cash benefit
following the elimination period for total disability due to accident or sickness?
- Answer :Disability income insuran
Quiz :Which of the following is TRUE of an equity-indexed annuity? -
Answer :It has a guaranteed minimum interest rate.
Quiz :All of the following are characteristics of COBRA EXCEPT -
Answer :change in medical privacy procedures.
Quiz :In which of the following does a covered employee agree to a reduction
in compensation so the amount can be used to cover medical expenses? -
Answer :Flexible Spending Account (FSA)
Quiz :Which problem was universal life insurance designed to address? -
Answer :low interest rates during periods of high inflation
, Quiz :A basic vision care package includes all of the following EXCEPT - Answer
:safety glasses
Quiz :Which of the following is the most common method to supplement
Medicare coverage? - Answer :Coverage offered by private insurers
Quiz :Which of the following is TRUE for a flexible premium annuity? - Answer
:The purchaser has the option to vary the amount of each premium payment
falling between a minimum and maximum amount.
Quiz :Compared to basic hospital, medical and surgical policies, which type of
insurance provides broader coverage, fewer gaps, higher individual benefits,
and higher policy maximums? - Answer :major medical insurance
Quiz :States generally define a true "group" for insurance as requiring a
minimum of how many participants? - Answer :10
Quiz :Which of the following is defined as the dollar amount beyond which the
insured no longer participates in payment of medical expenses? -
Answer :Stop Loss Limit
Quiz :Which is the major reason why long term care insurance is becoming
increasingly important? - Answer :As life expectancy increases, the chances of
needing long term care also increase
Quiz :Which of the following is TRUE of the limited pay whole life policy? -
Answer :Coverage continues after the policy is paid-up.
Quiz :Which of the following is covered by a dread disease policy? -
Answer :illnesses that do not occur frequently but incur significant costs when
they do occur
Quiz :Which of the following lists the three common types of permanent
individual life insurance? - Answer :Variable Life, Whole Life, Universal Life
Quiz :Which of the following is true about a decreasing term life policy? -
Answer :The face amount reaches zero at policy expiration.
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