Exam (elaborations)
PSI LIFE, ACCIDENT, AND HEALTH
- Institution
- Abraham Lincoln University, School Of Law
PSI LIFE, ACCIDENT, AND HEALTH
[Show more]
Seller
Follow
Content preview
PSI LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM1.Under the misstatement of age or gender provision, what happens if it is
determined at death that the insured's age or gender was misstated on a life insurance policy application?: Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender.
2.Which of the following must be given to the insurer within 20 days after occurrence or commencement of any loss covered by the policy, or as thereafter as is reasonably possible?: Notice of claim.
3.When will a policy pay on a UCR basis?: When particular benefits are not listed on a payment schedule.
4.All of the following are non-forfeiture options EXCEPT: Cash dividend op- tion.
5.What happens when the lifetime maximum benefit limit has been reached?: The insured will pay all of the remaining medial costs for as long as the policy is in force.
6.Whose responsibility is it to make sure that the company is notified of a death claim at the earliest possible opportunity (in most cases)?: The producer.
7.What is the waiver of premium provision?: In a long term care contract, the premium is waived after the insured has been confined for a specific period of time.
8.All of the following are common exclusions from loss found in disability income policies EXCEPT for that incurred while?: Committing a misdemeanor
9.Which is a disadvantage to a flexible premium annuity?: The actual amount of the annuity benefit cannot be determined in advance.
10.What does coninsurance mean?: The insurer and the insured share expens- es over the deductible.
11.Under normal conditions which of the following is TRUE for proof of loss when a single loss is claimed?: The insured has 90 days from the date of loss to provide proof of loss.
12.Which one of the following represents an advantage of obtaining a
policy loan versus a withdrawal?: The loan is not taxed while a
withdrawal is taxed for amounts above the contract cost basis.
13.All of the following statements define preexisting conditions EXCEPT?:
- Any chronic health condition that presents symptoms and which was
unknown at the time of application.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller NurseVee. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.09. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75391 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now