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CA PSI SITE – LIFE ,ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) WITH CORRECT 80+ QUESTIONS WITH CORRECTRY ANALYZED ANSWERS (ACTUAL EXAM) ALREADY GRADED A+ LATEST 2024 – 2025 $12.99
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CA PSI SITE – LIFE ,ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) WITH CORRECT 80+ QUESTIONS WITH CORRECTRY ANALYZED ANSWERS (ACTUAL EXAM) ALREADY GRADED A+ LATEST 2024 – 2025
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CA PSI SITE – LIFE ,ACCIDENT AND HEALTH AGENT
Institution
CA PSI SITE – LIFE ,ACCIDENT AND HEALTH AGENT
CA PSI SITE – LIFE ,ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) WITH CORRECT 80+ QUESTIONS WITH CORRECTRY ANALYZED ANSWERS (ACTUAL EXAM) ALREADY GRADED A+ LATEST 2024 – 2025
CA PSI SITE – LIFE ,ACCIDENT AND HEALTH
AGENT EXAMINATION (LIFE AGENT) WITH
CORRECT 80+ QUESTIONS WITH
CORRECTRY ANALYZED ANSWERS (ACTUAL
EXAM) ALREADY GRADED A+ LATEST 2024
– 2025
Which settlement option allows only the death benefit earnings to be paid to the
beneficiary ?
A. Cash option
B. Fixed amount option
C. Interest option
D. Fixed period option - ANSWERS-A
Which statement is true regarding participating in a group health insurance plan?
,A. A minimum of 75% of eligible members is required for a non-contributory
group health plan
B. A non-contributory group health plan must cover all eligible members
C. A contributory group health plan must cover all eligible members
D. A minimum participation of 50% of eligible members is required for a
contributory group health plan - ANSWERS-B
Contract of Adhesion - ANSWERS-One party writes the contract without inout
from the other party on a "take-it-or-leave-it" basis
Aleatory Contract - ANSWERS-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 - ANSWERS-An agreement to pay on behalf of another party
under specified circumstances
Unilateral Contract - ANSWERS-Only one party is legally bound to the contractual
obligations after the premium is paid to the insurer
Admitted Insurance Company vs. Non-Admitted Insurance Company - ANSWERS-
An admitted insurance company is authorized to transact insurance in California
,because it has a Certificate of Authority granted by the California Department of
Insurance (CDI)
A non-admitted insurance company is not authorized to transact insurance in
California because of failing to comply with California requirements or did not
seek admission
Pure Risk vs. Speculative Risk - ANSWERS-Pure risks are insurable but Speculative
risks are not
Pure Risks - A possibility of loss, no loss, or gain
Pure Risk - A possibility of loss or no loss; there is no possibility for gain
Only the insurer makes a promise of future performance, and only the insurer can
be charged with breach of contract
4 elements of a valid contract - ANSWERS-1) Competent Parties
2) Legal Purpose
3) Agreement (offer and acceptance)
4) Consideration
, Preferred Risks vs Standard Risks - ANSWERS-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 - ANSWERS-Human Life
Value approach is a measure of the projected future earnings and services of a
person at risk in the event of a premature death.
The objective is to provide the proper amount of coverage as determined by the
value of the individual to his/her dependents using the following factors:
- The individual's age and gender
- The individual's occupation, annual wage, and planned retirement age
- Inflation
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:
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