Psi California Life Insurance Exam Questions And Answers

Who is eligible to be an insurer? {Ans: Any person, company, organization, or corporation that is capable of making a contract.}When does a disability policy become incontestable as to the statements contained in the application? {Ans: After the policy has been in force for a period of two years during the lifetime of the insured.}Which of the following is the method wherein a contract of insurance is finalized as relates to the sales process? {Ans: Execution of a contract of insurance}All of the following are examples of representation EXCEPT {Ans: it may be altered after the insurance is effected.}All of the following are types of licenses EXCEPT {Ans: accident and health solicitor.}Which of the following is a party to a contract of insurance bound to communicate EXCEPT {Ans: those which the other would know by retaining a consultant with specialized knowledge in insurance matters.}What is the procedure regarding change of address for a licensee? {Ans: The commissioner must be notified immediately of any change in the personal, business, or email address.}All of the following conditions provide a basis for group life insurance coverage EXCEPT {Ans: amounts of insurance may be selected as