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PSI Life, Accident, Health Practice Exam Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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  • June 23, 2024
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  • 2023/2024
  • Exam (elaborations)
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  • psi life accident health practice exam

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PSI Life, Accident, Health Practice Exam
Questions
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. - CORRECT ANSWER-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. - CORRECT ANSWER-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. - CORRECT ANSWER-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. - CORRECT ANSWER-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. - CORRECT ANSWER-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. - CORRECT
ANSWER-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 - CORRECT
ANSWER-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. - CORRECT ANSWER-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

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