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PSI Life Exam Updated /119 Questions And Answers DOWNLOAD TO PASS!!!!
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- PSI Life Exam Updated 2023-2024
PSI Life Exam Updated /119 Questions And Answers DOWNLOAD TO PASS!!!!
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PSI Life Exam Updated 2023-2024 /119 Questions AndAnswers DOWNLOAD TO PASS!!!!
Quiz :What kind of retirement plan can a 75-employee for profit corporation
establish? - Answer :Simple IRA
Quiz :The taxable portion of a monthly income benefit paid during the annuity
phase from a nonqualified annuity is calculated using the - Answer :Exclusion
ratio
Quiz :Unfair claims settlement methods and practices by an insurance
company include all of the following acts EXCEPT - Answer :failure to pay all
claims that are reported within 90 days after a loss occurs
Quiz :The settlement option that allows proceeds to remain with the insurer
and the earnings to be paid to the beneficiary on a monthly basis is called -
Answer :Interest only
Quiz :Regulations on life insurance advertising apply to which of the following
insurance company materials? - Answer :A radio commercial that promotes
the benefits of a specific company's life insurance products
Quiz :An insurance company may contest a life policy within a MAXIMUM of
how many years after the policy's effective date? - Answer :2
Quiz :All of the following factors are used in life insurance premium
determination EXCEPT - Answer :Morbidity
Quiz :The authorization used to obtain the applicant's medical information
that will be used by the insurer for the primary purpose of determining
eligibility must include: - Answer :the time frame in which the insurer must
release the eligibility decision to the agent
Quiz :An intermediary who omits information on an insurance application
without the applicant's knowledge and submits the application to the insurer
may be guilty of: - Answer :Misrepresentation
Quiz :Dividends are NOT subject to taxation because - Answer :Paying
dividends is equivalent to returning a premium
, Quiz :The XYZ Insurance Company cancels an intermediary's contract. XYZ
could be bound by the intermediary's later acts if it: - Answer :Continues to
pay the intermediary deferred commissions
Quiz :Which of the following products is designed to pay benefits that can
provide a stream of retirement income to the purchaser? - Answer :tax-
deferred growth
Quiz :Which of the following guarantees that the annuitant CANNOT outlive
their benefits? - Answer :Guaranteed lifetime withdrawal benefit
Quiz :Which of the following statements is CORRECT about an insured's failure
to report a claim in a timely manner based on the advice of an intermediary? -
Answer :It does not affect the insurance company's obligations
Quiz :In Wisconsin, an "intermediary" is defined as a representative of: -
Answer :A Solicitor
Quiz :All of the following statements regarding a group annuity are correct
EXCEPT - Answer :Each employee signs and receives an individual contract
Quiz :Statements by an application concerning personal health history, family
health history, occupation, and hobbies are referred to as -
Answer :Representations
Quiz :Which of the following entities is responsible for notifying an insurance
company of a disability insurance claim? - Answer :1. Insured
2. Insured's physician
Quiz :An insurer may cancel a policy midterm for all of the following reasons
EXCEPT when the insured: - Answer :Has a change in marital status
Quiz :An accelerated death benefit - Answer :Pays a portion of the face
amount when a policyowner is determined to be terminally ill
Quiz :Upon annuitization, which of the following will have the HIGHEST
monthly payout? - Answer :Straight Life
Quiz :Backdating on a life insurance policy is the practice of - Answer :Making
the policy effective on an earlier date then the present
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