CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)

A homeowner has negotiated with a neighbor to obtain the permanent right to pass over the northern part of the neighbor's land to gain access to the river. He pays the neighbor $9,000 for the right of access and receives a deed. This is an easement Correct Answers appurtenant A tenant rented an ...

To what party or parties does the broker owe the fiduciary duty of care? 1. the seller 2. both the buyer and the seller 3. the party or parties employing the broker 4. the party or parties paying the commission Correct Answers the party or parties employing the broker An exclusive right to se...

Which of the following is TRUE of an equity-indexed annuity? Correct Answers It has a guaranteed minimum interest rate Compared to basic hospital, medical and surgical policies, which type of insurance provides broader coverage, fewer gaps, higher individual benefits, and higher policy maximums?...

Dividends that are received by a life insurance policy holder can be taxed in what situation(s): I - When the dividend amount received exceeds the amount that the policy holder paid in premiums Correct Answers The amount received that is over and above the amount paid into the policy via premiums ...

Which annuity settlement option provides a stated monthly amount to the annuitant and upon the annuitant?s death the same or a lesser amount paid for the lifetime of the survivor? Correct Answers Joint and survivorship option Joint and survivorship option Correct Answers It has a guaranteed minim...

1 Can a lender, as a condition of making a loan, require that any insurance be placed through a particular insurance agent or broker? Correct Answers The loan recipient may always select a particular agent or broker of their choosing 2 A claimant can be any of the following EXCEPT Correct Answers...

A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called Correct Answers a contract Antitrust laws prohibit competing brokers from all of the following Correct Answers 1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competiti...

Which policy type is backed by equity investments and allows the policyholder to adjust the death benefit? Correct Answers variable universal life Which annuity settlement option provides a stated monthly amount to the annuitant and upon the annuitant?s death the same or a lesser amount paid for ...

all of the following are ownership rights EXCEPT: A: changing the beneficiary of the policy B: borrowing funds against cash value C: switching the policy from on insured to another D: assigning all of the rights of the policy to another person Correct Answers C: switching the policy from on insu...

Admitted Insurance Company vs. Non-Admitted Insurance Company Correct Answers An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not ...