CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) LATEST ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+

CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) LATEST ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+

CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT

EXAMINATION (LIFE AGENT) LATEST 2026-2027

ACTUAL EXAM 100 QUESTIONS AND CORRECT

DETAILED ANSWERS WITH RATIONALES (VERIFIED

ANSWERS) |ALREADY GRADED A+

In the California Insurance Code there is a definition that reads, in short,

"....a person who, for a fee, offers to advise any insured having any

interest in life or disability insurance contracts..." This is the definition

of :

A. An insurance broker paid on a fee-for-service

B. A solicitor

C. A life and disability analyst - ANSWER- C

Disability income insurance pays a weekly or monthly income to replace

a portion of the one's lost salary due to an inability to work. When a

disability income insurance application is submitted, what reason might

the underwritting department use to reject it ?

A. Insurers are willing to only accept applications with extremely small

risks exposure.

B. Underwriters have to reject a certain number of applications per a

certain number of approved applications

C. Disability insurers have to eliminate applications that seem likely to

have losses much more frequently or much more severely than what the

insurer's rates anticipate.

D. None of the above. - ANSWER- C

When any change in residence address occurs, every licensee and every

applicant for a license must notify the Commissioner _______________.

(Select the most correct response)

A. Within 6 months after the move has taken place

B. Within 6 months before the license is to expire

C. 30 days before submitting a continuing education certificate.

D. Immediately - ANSWER- Immediately

To protect (subject to statutory limitations) life and health owners and

insureds in the event of impairment or insolvency of a member insurer.

This is a description of:

A. Medi-Cal

B. The California Life and Health Insurance Guarantee Association

C. OBRA

D. None of the above - ANSWER- The California Life and Health

Insurance Guarantee Association

Which of the following is not legal activity in this state ?

A. Participating in a plan to offer free insurance if a person buys some

form of service.

B. Disregarding age in the determination of insurance rates.

C. Refusing to apply the practice of twisting in sales.

D. All the above are legal in the state of California - ANSWER- A

Employees that have group life or health policies covering them are

required to be issued a/an ______.

A. Estimate of employers premiums

B. Certificate of insurance

C. Master policy

D. Monthly premium notification on a non-participating plan -

ANSWER- B

Which of the following is false about dividends paid from life insurance

policies ? A dividend is:

A. Treated as a return of excess premium paid by the owner and is

therefore taxable.

B. Interest earned on dividends and paid to the policy owner. It is

considered taxable.

C. Not guaranteed to be paid to the policy owner. - ANSWER- A

In order for insurers to help avoid the problem of over-insurance they

include ___ provisions in their policies.

A. Maximum limits

B. Coordination of benefits

C. Neither of the above - ANSWER- Coordination of benefits

An agent mostly sells long-term care insurance to individuals. He

obtained his insurance license (life and health) in January of 1998. In

1998 he must:

A. Complete 25 hours of life and health continuing education only

B. Complete 25 hours of life and health continuing education and, in

addition, complete 8 hours of LTC specific continuing education, a total

of 33 hours

C. Complete 25 hours of life and health continuing education, 8 of

which are LTC specific

D. None of the above - ANSWER- C

Jose is covered by an insurance plan that will pay him disability income

benefits if he is injured either while working or at home. The type of

plan he has is a/an:

A. Workers compensation policy

B. Key person policy

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