CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) Exam Questions and Answers (Latest update)
Question : Who would be in the least need of purchasing
errors and omissions insurance?
- Architect
- Insurance agent
- Football player-star quarterback
- Beautician
CORRECT ANSWER : c. Football player-star quarterback
Question : A term-to-65 life policy is paid up at 65
- True
- False
CORRECT ANSWER : b. False
Question : All are methods for handling a risk except:
- Retain the risk
- Transfer the risk
- Avoid the risk
- Identify and increase the hazards
CORRECT ANSWER : d. Identify and increase the hazards
Question : Which of the following is not used to determining
health insurance rates?
- Expense
- Interest
- Morbidity
- Mortality
CORRECT ANSWER : d. Mortality
Question : A person applying for insurance has a hazardous
job and the insurer wants to exclude anything that happens at
work. The type of policy would be:
- Limited
- Hazardous
- Non-occupational
- Level term
CORRECT ANSWER : c. Non-occupational
Question : 6. Which is NOT part of a transitioning insurance?
- Solicitation
- Negotiation
- Execution of a contract
- Establishing a list of clients
CORRECT ANSWER : d. Establishing a list of clients
Question : The best example of fiduciary responsibility is:
- Submitting premiums to the insurance company
- Serving the best interest of the client
- Annually reviewing the clients insurance
- Making sure a claim is handled promptly
CORRECT ANSWER : a. Submitting premiums to the
insurance company
Question : What term describes the concept that the insurer
and the insured share in:
- Stop loss limit
- Deductible
- Coinsurance
- Benefit restoration
CORRECT ANSWER : c. Coinsurance
Question : Mike die before his annuity had paid out an
amount at least equal to the purchase price of the annuity.Paul's beneficiary continues to receive what?
- Straight life annuity
- Joint and last survivor annuity
- Refund life annuity
- Cash refund annuity
CORRECT ANSWER : c. Refund life annuity
Question : What does the insurance commissioner have the
right to do if an agent lacks authority from an insurer named on a binder for coverage?
- Request his certificate of authority