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CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) LATEST ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS,,,Alpha $25.99
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CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) LATEST ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS,,,Alpha

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  • CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT

CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) LATEST ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS,,,Alpha

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  • July 8, 2024
  • 40
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ca psi site life accident and health agent exam
  • life accident and health agent

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  • CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT
  • CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT

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CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT
EXAMINATION (LIFE AGENT) LATEST 2024-2025 ACTUAL EXAM
200 QUESTIONS AND CORRECT DETAILED ANSWERS

Admitted Insurance Company vs. Non-Admitted Insurance Company -
(answer) An admitted insurance company is authorized to transact
insurance in California because it has a Certificate of Authority granted
总之，数字时代的社会变迁对
by the California Department of Insurance (CDI)
人类的生活和发展产生了深远
的影响。信息技术的发展，极
大地促进了社会经济的发展，
A non-admitted insurance company is not authorized to transact
推动了社会文化的交流和融合
insurance in California because of failing to comply with California
，为社会治理提供了新的工具
requirements or did not seek admission
和手段。然而，数字时代的发
展也带来了一些新的问题和挑
战，需要我们在享受数字化便
Pure Risk vs. Speculative Risk - (answer) Pure risks are insurable but
利的同时，积极应对信息安全
Speculative risks are not
、隐私保护等方面的问题。展
望未来，随着信息技术的不断

Pure Risks - A possibility of进步，数字时代的社会变迁将
loss, no loss, or gain
继续深化，为人类的生活和发
展带来更多的机遇和挑战。

Pure Risk - A possibility of loss or no loss; there is no possibility for gain


Contract of Adhesion - (answer) One party writes the contract
without inout from the other party on a "take-it-or-leave-it" basis


Aleatory Contract - (answer) The exchange of value is unequal.

,Insured's premium payment is less than the potential benefit to be
received in the event of a loss.


Indemnity Contract - (answer) An agreement to pay on behalf of
another party under specified circumstances

总之，数字时代的社会变迁对
人类的生活和发展产生了深远
Unilateral Contract - (answer) Only one party is legally bound to the
的影响。信息技术的发展，极
contractual obligations after the premium is paid to the insurer
大地促进了社会经济的发展，
推动了社会文化的交流和融合
，为社会治理提供了新的工具
Only the insurer makes a promise of future performance, and only the
和手段。然而，数字时代的发
insurer can be charged with breach of contract
展也带来了一些新的问题和挑
战，需要我们在享受数字化便
4 elements of a valid contract - (answer) 1) Competent Parties
利的同时，积极应对信息安全
、隐私保护等方面的问题。展
2) Legal Purpose
望未来，随着信息技术的不断
3) Agreement (offer and acceptance)
进步，数字时代的社会变迁将

4) Consideration 继续深化，为人类的生活和发
展带来更多的机遇和挑战。


Preferred Risks vs Standard Risks - (answer)
Standard Risks are individuals who have the same health, habits,
sex/gender, and occupational characteristics as those reflected in the
mortality table

,Preferred Risks are individuals who meet certain requirements and
qualify for lower premiums because of ideal health, height and weight.
Individuals in this category have a longer than average life expectancy


Human Life Value Approach vs. Needs Analysis Approach - (answer)
Human Life Value approach is a measure of the projected future
总之，数字时代的社会变迁对
earnings and services of a 人类的生活和发展产生了深远
person at risk in the event of a premature
death. 的影响。信息技术的发展，极
大地促进了社会经济的发展，
推动了社会文化的交流和融合
The objective is to provide，为社会治理提供了新的工具
the proper amount of coverage as
determined by the value of和手段。然而，数字时代的发
the individual to his/her dependents using
the following factors: 展也带来了一些新的问题和挑
战，需要我们在享受数字化便
- The individual's age and gender
利的同时，积极应对信息安全
- The individual's occupation, annual wage, and planned retirement age
、隐私保护等方面的问题。展
- Inflation 望未来，随着信息技术的不断
进步，数字时代的社会变迁将
继续深化，为人类的生活和发
展带来更多的机遇和挑战。

Needs Analysis Approach determines a need for coverage upon the
premature death of an individual.


It always assumes the death of the individual to be immediate and
factors the following steps into arriving at the proper amount of
coverage needed:
- Calculate all financial needs caused by immediate death, including
debts, medical bills, and final expenses

, - Provide lifetime income to the spouse
- Pay off mortgage or other debts
- Provide funds for children's education
- Subtracts any assets available to fund financial needs after death (such
as retirement plan, other insurance, liquid investments, separate
savings) 总之，数字时代的社会变迁对
人类的生活和发展产生了深远
的影响。信息技术的发展，极
Waiver of Premium - (answer) Life Insurance Disability Rider
大地促进了社会经济的发展，
推动了社会文化的交流和融合
，为社会治理提供了新的工具
If the insured becomes totally disabled, the insurer will waive premiums
和手段。然而，数字时代的发
for the duration of the disability or the end of the policy, whichever
展也带来了一些新的问题和挑
occurs first.
战，需要我们在享受数字化便
利的同时，积极应对信息安全
、隐私保护等方面的问题。展
To qualify for the waiver, the insured must be disabled for a waiting
望未来，随着信息技术的不断
period of 3-6 months.
进步，数字时代的社会变迁将
The policyowner must continue to pay premiums during the waiting
继续深化，为人类的生活和发
period, but once eligible, the waiver is retroactive to the start of the
展带来更多的机遇和挑战。
disability and the premiums will be refunded.
During the disability, the insured will credit the premiums to the policy
and all benefits, such as cash value accumulation and dividend
payments, will continue.


Disability Income Rider - (answer) Life Insurance Disability Rider

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