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PSI Life, Accident, Health Practice Exam Questions with 100% Verified Answers
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PSI Life, Accident, Health Practice Exam Questions with 100% Verified Answers
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PSI Life, Accident, Health Practice ExamQuestions with 100% Verified Answers
Which is an ACCURATE statement regarding benefits of Medicare supplement
and Medicare select plans?
1
The insurer is able to cancel, or deny renewal of an existing policy, based
solely on the health of the insured.
2
There is no restriction for benefits after the coverage has been in effect for
six months when involving a preexisting condition.
3
The coverage for a loss from an illness or disease is treated differently than
for a loss resulting from an injury due to an accident.
4
The coverage for a spouse cannot be terminated for any reason, including for
nonpayment of premiums. - -2
There is no restriction for benefits after the coverage has been in effect for
six months when involving a preexisting condition.
-How is the insurance commissioner chosen?
1
Elected by the people.
2
Appointed by the Governor
3
Selected by a vote in the House and the Senate.
4
Randomly selected from a list of qualified candidates. - -1
Elected by the people.
-An insurance agent is a person who transacts all of the following types of
insurance EXCEPT:
1
annuities.
2
homeowners.
3
auto insurance.
4
life insurance. - -4
,life insurance.
-The California Legislature declared all of the following when creating the
Healthy Families Program EXCEPT:
1
that most uninsured children come from low-income families.
2
lack of educational resources for children and their parents leads to
increased medical expenses.
3
that lack of insurance coverage for children results in reduced access to
medical services.
4
when a child is seriously ill or injured, the costs of needed medical care can
force families into financial ruin. - -2
lack of educational resources for children and their parents leads to
increased medical expenses.
-Which of the following BEST defines the general concept of the 24-hour
care plan?
1
It integrates workers compensation medical care with the care provided by
group health insurance.
2
It provides immediate medical care from any source for injuries on which
occur on the job.
3
It permits non job related injuries to be treated through the worker?s
compensation program.
4
It pays any medical bill from a job related injury for services within the first
24 hours of the injury. - -1
It integrates workers compensation medical care with the care provided by
group health insurance.
-How does an "admitted" person differ from an "nonadmitted" person, as it
pertains to insurance?
1
An "admitted" person has admitted to a crime or fraud, while a
"nonadmitted" person has not.
2
An "admitted" person has been granted admission to an insurance
association, while a "nonadmitted" person has not been accepted.
,3
An "admitted" person has been admitted to an accreditation program, while
a "nonadmitted" person has yet to earn the credits.
4
An "admitted" person has the right to transact insurance business within the
state, while a "nonadmitted" person is not entitled to this action. - -4
An "admitted" person has the right to transact insurance business within the
state, while a "nonadmitted" person is not entitled to this action.
-When may a licensee surrender for cancellation any license under which
they are permitted to act?
1
upon renewal of the license
2
within 60 days of renewal of their license
3
at any time
4
when they no longer have any clients with policies in force - -3
at any time
-When does a disability policy become incontestable as to the statements
contained in the application?
1
After this policy been in force for a period of one year during the lifetime of
the insured.
2
After this policy been in force for a period of two years during the lifetime of
the insured.
3
When the company has confirmed all of the statements and issued a binding
contract.
4
Two years after the date of the application when a conditional receipt has
been issued. - -2
After this policy been in force for a period of two years during the lifetime of
the insured.
-Which statement describes the intent of the California Financial Information
Privacy Act?
1
It enables and authorizes the Gramm-Leach-Bliley Act into California legal
system.
, 2
It permits civil lawsuits against financial institutions who violate the Gramm-
Leach-Bliley Act.
3
It provides greater privacy protections than those provided in the federal
Gramm-Leach-Bliley Act.
4
It permits greater flexibility to financial institutions than privacy protections
enacted in Gramm-Leach-Bliley Act. - -3
It provides greater privacy protections than those provided in the federal
Gramm-Leach-Bliley Act.
-All of the following are TRUE about the rules regarding the sale of life
insurance and annuities to seniors age 65 or older EXCEPT
1
the senior is entitled to have others present during any presentation by an
agent, broker or insurer.
2
all insurance brokers, agents, or insurers owe a prospective insured at 65
years or older a duty of honesty, good faith, and fair dealing.
3
the agent, broker or insurer is required to show a copy of their insurance
license with name, address, and phone number when conducting business in
the senior's home.
4
advance notice must be provided to the senior disclosing and identifying
details of the visit and the agent or broker prior to the scheduled meeting. -
-3
the agent, broker or insurer is required to show a copy of their insurance
license with name, address, and phone number when conducting business in
the senior's home.
-All of the following are a duty of an insurer in regards to claims on file and
record documentation EXCEPT
1
maintaining claim data so that an insurer shall be able to provide the claim
number, line of coverage, and other pertinent data.
2
recording the date the licensee received, date(s) the licensee processed and
date the licensee transmitted or mailed every material and relevant
document in the file.
3
maintaining any sales material, which had a material impact on the claims
process.
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