{"id":113040,"date":"2023-08-15T22:16:55","date_gmt":"2023-08-15T22:16:55","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=113040"},"modified":"2023-08-15T22:16:56","modified_gmt":"2023-08-15T22:16:56","slug":"psi-life-exam-latest-2023-2024-real-exam-100-questions-and-correct-answersagrade","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/08\/15\/psi-life-exam-latest-2023-2024-real-exam-100-questions-and-correct-answersagrade\/","title":{"rendered":"PSI LIFE EXAM LATEST 2023-2024 REAL EXAM 100+ QUESTIONS AND CORRECT ANSWERS|AGRADE"},"content":{"rendered":"\n<p>PSI LIFE EXAM LATEST 2023-2024 REAL<br>EXAM 100+ QUESTIONS AND CORRECT<br>ANSWERS|AGRADE<br>The authorization used to obtain the applicant&#8217;s medical information that will be<br>used by the insurer for the primary purpose of determining eligibility must include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ANSWER- the time frame in which the insurer must release the eligibility<br>decision to the agent<br>An intermediary who omits information on an insurance application without the<br>applicant&#8217;s knowledge and submits the application to the insurer may be guilty of: &#8211;<br>ANSWER- Misrepresentation<br>Dividends are NOT subject to taxation because &#8211; ANSWER- Paying dividends is<br>equivalent to returning a premium<br>The XYZ Insurance Company cancels an intermediary&#8217;s contract. XYZ could be<br>bound by the intermediary&#8217;s later acts if it: &#8211; ANSWER- Continues to pay the<br>intermediary deferred commissions<br>Which of the following products is designed to pay benefits that can provide a<br>stream of retirement income to the purchaser? &#8211; ANSWER- tax-deferred growth<br>Which of the following guarantees that the annuitant CANNOT outlive their<br>benefits? &#8211; ANSWER- Guaranteed lifetime withdrawal benefit<br>Which of the following statements is CORRECT about an insured&#8217;s failure to<br>report a claim in a timely manner based on the advice of an intermediary? &#8211;<br>ANSWER- It does not affect the insurance company&#8217;s obligations<br>In Wisconsin, an &#8220;intermediary&#8221; is defined as a representative of: &#8211; ANSWER- A<br>Solicitor<br>All of the following statements regarding a group annuity are correct EXCEPT &#8211;<br>ANSWER- Each employee signs and receives an individual contract<\/li>\n<\/ul>\n\n\n\n<p>Statements by an application concerning personal health history, family health<br>history, occupation, and hobbies are referred to as &#8211; ANSWER- Representations<br>Which of the following entities is responsible for notifying an insurance company<br>of a disability insurance claim? &#8211; ANSWER- 1. Insured<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"2\">\n<li>Insured&#8217;s physician<br>An insurer may cancel a policy midterm for all of the following reasons EXCEPT<br>when the insured: &#8211; ANSWER- Has a change in marital status<br>An accelerated death benefit &#8211; ANSWER- Pays a portion of the face amount when<br>a policyowner is determined to be terminally ill<br>Upon annuitization, which of the following will have the HIGHEST monthly<br>payout? &#8211; ANSWER- Straight Life<br>Backdating on a life insurance policy is the practice of &#8211; ANSWER- Making the<br>policy effective on an earlier date then the present<br>Wisconsin insurance law requires intermediaries to keep policyholder records for<br>at least how many years after termination or lapse of the policy? &#8211; ANSWER- 3<br>When underwriting group life insurance, the underwriter &#8211; ANSWER- Typically<br>evaluates the group as a whole<br>When using the needs approach to determine the amount of life insurance needed,<br>it is necessary to determine all of the following EXCEPT &#8211; ANSWER- project<br>lifetime earnings in the stock market, including dividends and growth account<br>Which of the following is permitted under the proper exchange of business? &#8211;<br>ANSWER- Splitting a commission between two intermediaries licensed in the<br>same line of insurance<br>What kind of retirement plan can a 75-employee for profit corporation establish? &#8211;<br>ANSWER- Simple IRA<br>The taxable portion of a monthly income benefit paid during the annuity phase<br>from a nonqualified annuity is calculated using the &#8211; ANSWER- Exclusion ratio<br><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>PSI LIFE EXAM LATEST 2023-2024 REALEXAM 100+ QUESTIONS AND CORRECTANSWERS|AGRADEThe authorization used to obtain the applicant&#8217;s medical information that will beused by the insurer for the primary purpose of determining eligibility must include: Statements by an application concerning personal health history, family healthhistory, occupation, and hobbies are referred to as &#8211; ANSWER- RepresentationsWhich of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-113040","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/113040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=113040"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/113040\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=113040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=113040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=113040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}