PSI LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/PSI%20LIFE,%
PSI LIFE, ACCIDENT, AND HEALTH PRACTICE
EXAM QUESTIONS AND ANSWERS
1. 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?
Answer Benefits are adjusted to an amount that thepremium would have
purchased at the correct age or gender.
2. Which of the following must be given to the insurer within 20 days after oc-
currence or commencement of any loss covered by the policy, or as thereafteras
is reasonably possible?
Answer Notice of claim.
3. When will a policy pay on a UCR basis?
Answer When particular benefits are not listedon a payment schedule.
1/5
1 of 15 11/18/2024, 3:33
,PSI LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/PSI%20LIFE,%
4. All of the following are non-forfeiture options EXCEPT
Answer Cash dividend option.
5. What happens when the lifetime maximum benefit limit has been reached?-
Answer The insured will pay all of the remaining medial costs for as long as the policy
is inforce.
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)?
Answer The producer.
7. What is the waiver of premium provision?
Answer 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?
Answer Committing a misdemeanor
2/5
2 of 15 11/18/2024, 3:33
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 NurseFerian. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
