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PSI LIFE, ACCIDENT AND HEALTH EXAM 2024 ACTUAL EXAM COMPLETE 300 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+$18.49
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PSI LIFE, ACCIDENT AND HEALTH
EXAM 2024 ACTUAL EXAM
COMPLETE 300 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY
GRADED A+
How does insurance written under a franchise
agreement or on a wholesale basis differ from
standard group insurance?
1.
The coverage for group insurance is broadened
under a franchise agreement and more extensive.
2.
The eligibility standards are more relaxed with less
underwriting when group is written under a
franchise agreement.
3.
,Premiums for the coverage under a franchise
agreement may be written for more than the usual
rates for such insurance.
4.
Coverage offered through a franchise agreement or
on a wholesale basis has a longer contestability
period. - ....ANSWER...Premiums for the coverage
under a franchise agreement may be written for
more than the usual rates for such insurance.
When is a person acting as a licensee allowed to act
as an agent of the insurer?
1.
when the agent has completed the licensing
paperwork and submitted it to the insurer
2.
when the insurer has filed with the commissioner a
notice of appointment
3.
when the insurer has provided the agent with
applications
4.
when the agent has received oral approval from the
insurer to transact business - ....ANSWER...when the
,insurer has filed with the commissioner a notice of
appointment
Which of the following is TRUE regarding continuing
education requirements of an agent or broker?
1.
Any licensee shall satisfactorily complete 24 hours
of instruction prior to license renewal.
2.
Any licensee in good standing for 10 years may apply
for exemption to the continuing education
requirement if reputation has been proven.
3.
An agent or broker licensed in life and health
requires more continuing education hours than an
agent or broker licensed in property and casualty.
4.
A licensee who is 65 years or older shall be exempt
from continuing education hours if reputation of
agent or broker is in good standing for 25 years. -
....ANSWER...Any licensee shall satisfactorily
complete 24 hours of instruction prior to license
renewal.
, Which is an INACCURATE statement regarding
underwriting based on genetic testing?
1.
The proposed insured must pay for the cost of the
testing.
2.
The proposed insured must provide informed
consent prior to the testing.
3.
The test results can be provided to the proposed
insured, or to their physician to whom the individual
should consult.
4.
The purpose is to create standards classified by
risks to avoid discrimination among proposed
insureds with similar genetic markers. -
....ANSWER...The proposed insured must pay for the
cost of the testing.
All of the following are to be specified in an
insurance policy EXCEPT
1.
the financial rating of the insured.
2.
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