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PSI LIFE, ACCIDENT AND HEALTH EXAM QUESTIONS BANK NEWEST 2024 COMPLETE 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW VERSION!$32.49
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PSI LIFE, ACCIDENT AND HEALTH EXAM QUESTIONS BANK NEWEST 2024 COMPLETE 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW VERSION!
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PSI LIFE, ACCIDENT AND HEALTH
Institution
PSI LIFE, ACCIDENT AND HEALTH
PSI LIFE, ACCIDENT AND HEALTH EXAM
QUESTIONS BANK NEWEST 2024
COMPLETE 300 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND
NEW VERSION!
PSI LIFE, ACCIDENT AND HEALTH EXAM
QUESTIONS BANK NEWEST 2024
COMPLETE 300 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND
NEW VERSION!
Compared to basic hospital, medical and surgical policies, which
type of insurance provides broader coverage, fewer gaps, higher
individual benefits, and higher policy maximums?
A. medicaid insurance
B. major medical insurance
C. supplemental medical insurance
D. long term care insurance - ANSWER- major medical
insurance
Which type of rider reimburses health and social service
expenses incurred in a convalescent or nursing home facility?
A. accelerated benefits rider
,2|Page
B. assisted living rider
C. terminal illness rider
D. long term care rider - ANSWER- long term care rider
All of the following are characteristics of COBRA EXCEPT
A. qualifying events.
B. notification statements.
C. continuation of coverage.
D. change in medical privacy procedures. - ANSWER- change
in medical privacy procedures.
What type of insurance should a company purchase if it wants to
insure the life of its CEO?
A. key person insurance
B. BOE insurance
C. group life policy
D. industrial life insurance - ANSWER- key person insurance
Which of the following is true about a decreasing term life
policy?
A. The cash value of the policy decreases over time.
B. The face amount reaches zero at policy expiration.
,3|Page
C. Premiums decrease over time but the amount of coverage
remains constant.
D. Commonly sold as a rider to another type of policy to provide
an additional death benefit. - ANSWER- The face amount
reaches zero at policy expiration.
For an individual long-term care policy there is an annual dollar
limit for tax deductions that is based on which of the following?
A. Age
B. Cost of care
C. Policy value
D. Premium cost - ANSWER- Age
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 soon thereafter as is reasonably possible?
A. evidence of insurability
B. notice of claim
C. proof of loss
D. supporting evidence for the claim - ANSWER- notice of
claim
, 4|Page
Managed care plans increase efficiency by all of the following
means EXCEPT
A. increasing beneficiary cost sharing.
B. controlling inpatient admissions and length of stay.
C. selectively contracting with health care providers.
D. transferring the management of costs to the insureds. -
ANSWER- transferring the management of costs to the insureds.
Which of the following is an example of a premium payment
mode?
A. annual premium payment
B. payment by check
C. automatic deduction of premium
D. $200 per policy year - ANSWER- annual premium payment
What is the waiver of premium provision?
A. In a long term care contract, the premium is waived after the
insured has been confined for a specific period of time.
B. In a life insurance policy, the insured may request a waiver of
premium during times of financial hardship.
C. In a disability policy, the premium is waived after the
insurance benefit period has been passed
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