PSI 50 Practice Exam WA Life Insurance

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Author:
happyedi253
ID:
310163
Filename:
PSI 50 Practice Exam WA Life Insurance
Updated:
2015-10-25 15:04:42
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WA LIfe Insurance
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PSI Practice Exam WA Life Insurance
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  1. 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) convertible
    D) Level
    C) convertible
    (this multiple choice question has been scrambled)
  2. 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) Joint and survivoship option
    B) Re-entry
    C) Life annuity certain option
    D) Refund life annuity option
    A) Joint and survivoship option
    (this multiple choice question has been scrambled)
  3. Which type of annuity attempts to offset inflation by providing a benefit linked to an underlying investment account?

    A) immediate
    B) convertible
    C) variable
    D) fixed
    C) variable
    (this multiple choice question has been scrambled)
  4. Which of the following is TRUE of an equity-indexed annuity?

    A) Re-entry
    B) It is a variable annuity
    C) It has a guaranteed minimum interest rate
    D) It may decrease in value
    C) It has a guaranteed minimum interest rate
    (this multiple choice question has been scrambled)
  5. If 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 right to maintain privacy
    B) the treatment procedures that are covered by the policy.
    C) insurer's practices with respect to the treatment of this information
    D) the opportunity to refuse the dissemination of the information
    B) the treatment procedures that are covered by the policy.
    (this multiple choice question has been scrambled)
  6. All of the following are common exclusions from loss found in disability income policies EXCEPT for that incurred while

    A) living overseas
    B) piloting a personal aircraft
    C) serving in the military
    D) commiting a misdemeanor
    D) commiting a misdemeanor
    (this multiple choice question has been scrambled)
  7. What type of insurance should a company purchase if it wants to insure the life of its CEO?

    A) It is a variable annuity
    B) It has a guaranteed minimum interest rate
    C) key person insurance
    D) fixed
    C) key person insurance
    (this multiple choice question has been scrambled)
  8. 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) It has a guaranteed minimum interest rate
    C) convertible
    D) cost of care
    A) age
    (this multiple choice question has been scrambled)
  9. Which of the following is exempted from the incontestability provision in insurance policies?

    A) fraudulent misstatements
    B) age
    C) It has a guaranteed minimum interest rate
    D) It is a variable annuity
    A) fraudulent misstatements
    (this multiple choice question has been scrambled)
  10. 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) any exclusion
    B) key person insurance
    C) immediate
    D) It may decrease in value
    A) any exclusion
    (this multiple choice question has been scrambled)

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