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A set of practice exam questions and answers related to psi: life, accident, and health insurance. It covers various aspects of insurance, including policy types, coverage, and regulations. The questions are designed to test understanding of key concepts and terminology in the field of insurance.
Typology: Quizzes
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With the noncancelable policy the insurer may increase premiums only based on the terms of the policy."
that always equals the total of premiums paid up to the current point."
are incurred, the policy begins to pay." "When the suicide clause is inserted in a life insurance contract, death by suicide is not covered during
originated primarily or solely for the purpose of resale." "What procedure is used by an insurer to protect itself in the event a dispute arises and the applicant
"Which of the following occurs immediately after the application is submitted and the initial premium
"A consumer report used to determine eligibility for insurance may include all of the following EXCEPT? -
conditions need to be met to make the contract legally enforceable."
the applicant for the policy is not the insured."
incomplete application can be accepted with the missing information added later."
health insurance risk." "Obtaining consumer information reports under false pretenses is prosecutable by which of the
"Which type of receipt makes the insurer liable for the risk from the date of application, regardless of the
"If the insurer wishes to share an applicant's HIV status, the applicant must be given full notice of all of
policy."
be true, a representation is believed to be true to the best of one's knowledge."
Transferring the management of costs to the insureds."
plan."
amount reached zero at policy expiration." "Which of the following lists the three common types of permanent individual life insurance? -
"Which types of life policy can be continued year after year without a required medical examination but
"Which of the following coverage types pays a monthly cash benefit following the elimination period for
guaranteed minimum interest rate." "Compared to basic hospital, medical and surgical policies, which type of insurance provides broader
Major medical insurance."
"Which of the following is defined as the dollar amount beyond which the insured no longer participates
glasses" "In which of the following does a covered employee agree to a reduction in compensation so the amount
Interest rates"
A life-changing event, such as marriage, divorce, or childbirth." "Why is relying solely on employer group life insurance generally considered inadequate for most
"Which of the following amends the Social Security Act to make Medicare secondary to group health
"All of the following are requirements to qualify for Social Security disability benefits EXCEPT when -
"How long after being entitled to disability benefits will an individual be eligible to receive Medicare
has the option to vary the amount of each premium payment falling between a minimum and maximum amount."
privacy procedures."
assist covered employees with the payment of medical expenses on a high deductible plan funded through pre-tax." "Which type of annuity covers two or more annuitants and provides monthly income only until the first
no guaranteed minimum death benefit."
rates during periods of high inflation."
not occur frequently but incur significant costs when they do occur." “Under the misstatement of age or gender provision, what happens if it is determined at death that the
Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender." "Which of the following must be given to the insurer within 20 days after occurrence or commencement
Notice of claim."
on a payment schedule."