Exam (elaborations)
PSI CA Insurance Test
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- PSI Practice
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- PSI Practice
PSI CA Insurance Test
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PSI CA Insurance TestWhat is the procedure regarding change of address for a licensee? - CORRECT
ANSWER-The commissioner must be notified immediately of any change in the
personal, business, or email address.
What is the punishment for a person who 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 1 year
imprisonment
An agent or representative who issues long term care insurance must NOT do
the following - CORRECT ANSWER-complete a total of 10 hours of continuing
education if licensed before January 1st, 2002.
According to the Administrative Procedures Act, what is required to make
changes to the California Insurance Code? - CORRECT ANSWER-The
Department of Insurance is required to publish proposed changes at least 45
days prior to the hearing or decision to adopt the change.
A person who does NOT hold a valid license may NOT do the following -
CORRECT ANSWER-examine contracts of insurance.
Which of the following is TRUE regarding nonadmitted insurers? - CORRECT
ANSWER-Acting as an agent for a nonadmitted insurer is considered a
misdemeanor.
Which of the following is a party to a contract of insurance bound to communicate
EXCEPT - CORRECT ANSWER-those which the other would know by retaining
a consultant with specialized knowledge in insurance matters.
Which of the following is the method wherein a contract of insurance is finalized
as relates to the sales process? - CORRECT ANSWER-Execution of a contract
of insurance
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