Pa life exam - Study guides, Class notes & Summaries

PA LIFE PRACTICE EXAM FROM PSI (1) QUESTIONS AND ANSWERS

an immediate annuity has been purchased with a single premium. when does the annuitant typically begin receiving benefit payments? - ANS 1 month An insurer will accept a premium from the insured and continue the coverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - ANS Grace period The grace period is the amount of time an insurer continues coverage in full force and will accept the p...

Accident An unplanned, unforeseen event which occurs suddenly and at an unspecified place. Accident Insurance A type of insurance that protects the insured against loss due to accidental bodily injury. Accidental Bodily Injury Unplanned, unforeseen traumatic injury to the body. Accidental Death and Dismemberment An insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the insured dies, loses his/her sight, or loses two limbs due to an accident. ...

Obtaining consumer information reports under false pretenses is prosecutable by which of the following? 1. USA Patriot Act 2. Fair Credit Reporting Act 3. State laws where the applicant resides 4. Securities and Exchange Commission 2. Fair Credit Reporting Act All of the following are features of the spendthrift clause EXCEPT 1. proceeds are paid in some other way than a single lump sum. 2. proceeds are protected by the insurer from the beneficiary's creditors. 3. transfer of proceeds to cr...

PA Life practice exam from PSI (1) questions with correct answers Current assumption whole life policies are sensitive to which of the following? 1. interest rates 2. age of the insured 3. health of the insured 4. current cash value of the policy - Answer- 1. interest rates Which part of an insurance contract contains the promise to pay losses covered by the policy in exchange for the insured's premium and compliance with policy terms? 1. conditions 2. policy title page 3. ...

24 Hours will be applied to the current reporting period, and 24 can be applied to the period immediately following A producer has successfully completed 52 hours of continuing education. How many hours can the producer apply to her current reporting period, and how many hours can she carry toward the next reporting period? Depreciation period Which of the following is NOT a term for the period of time during which the annuitant or the beneficiary receives income? It is intended to provide cov...

PA Life Insurance Exam Solved 100% Correct

PA Life practice exam from PSI (1) Exam 2024/2025 Questions With Completed & Verified Solutions.

PA Life practice exam from PSI (1)/Answered/A+ rated Obtaining consumer information reports under false pretenses is prosecutable by which of the following? 1. USA Patriot Act 2. Fair Credit Reporting Act 3. State laws where the applicant resides 4. Securities and Exchange Commission 2. Fair Credit Reporting Act All of the following are features of the spendthrift clause EXCEPT 1. proceeds are paid in some other way than a single lump sum. 2. proceeds are protected by the insur...

PA Life Insurance License Exam