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PSI Online Practice Life Exam ARKANSAS
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PSI Online Practice Life Exam ARKANSAS
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PSI Online Practice Life Exam ARKANSASIf the insurer wishes to share an applicant's HIV status, the applicant must be
given full notice of all of the following EXCEPT
A-The applicant's rights to maintain privacy
B-An opportunity to refuse the dissemination of the information
C-Insurer's practices with respect to the treatment of this information
D-The treatment procedures that are covered by the policy. - CORRECT
ANSWER-D
All of the following are common exclusions from loss found in disability income
policies EXCEPT for that incurred while
A) committing a misdemeanor
B) piloting a personal aircraft
C) living overseas
D) serving in the military - CORRECT ANSWER-A
What type of insurance should a company purchase if it wants to insure the life of
its CEO?
A) BOE insurance
B) key person insurance
C) industrial life insurance
D) group life policy - CORRECT ANSWER-B
For an individual long-term care policy there is an annual dollar limit for
tax-deductions that is base on which of the following?
A) age
B) premium cost
C) cost of care
D) policy value - CORRECT ANSWER-A
, Which of the following is exempted from the incontestability provision in
insurance policies?
A) change in health
B) pre-existing conditions
C) changes in the insurance code
D) fraudulent misstatements - CORRECT ANSWER-D
Which of the following term insurance types provides temporary protection that
can be changed to some type of permanent protection without evidence of
insurability?
A) re-entry
B) decreasing
C) level
D) convertible - CORRECT ANSWER-D
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?
A) Refund life annuity option
B) Life annuity certain option
C) Joint life option
D) Joint and survivorship option - CORRECT ANSWER-D
Which one of the following is particularly important for an insurance producer to
explain to a client upon delivery of a life insurance policy?
A) the effective date
B) premium due dates
C) any exclusions
loan interest rates - CORRECT ANSWER-C
All of the following are ownership rights EXCEPT
A) assigning all of the rights of the policy to another person
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