PSI LIFE INSURANCE EXAM LATEST REAL EXAM QUESTIONS AND CORRECT ANSWERS A GRADE 2023 24
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PSI LIFE INSURANCE EXAM LATEST REAL EXAM QUESTIONS AND CORRECT ANSWERS | A-GRADE 2023/24
Course
PSI LIFE INSURANCE
Institution
PSI LIFE INSURANCE
PSI LIFE INSURANCE EXAM which of the following occurs immediately after the application is submitted and the initial premium paid: A: the underwriting process begins B: the applicant’s references are checked C: the beneficiaries are selected D: the insurance goes into effect Correct Answer: A: the underwriting process begins in a level term life policy, which ALWAYS remains constant: A: premium B: beneficiary C: death benefit D: maximum age of the insured Correct Answer: C: death benefit whole life policy premium type is the most common: A: continuous premium B: non-participating C: limited payment D: single premium Correct Answer: A: continuous premium which of the following is TRUE of an equity-indexed annuity: A: it is a variable annuity B: it may decrease in value C: it requires a securities license to sell D: it has a guaranteed minimum interest rate Correct Answer: D: it has a guaranteed minimum interest rate in order to AVOID being classified as an MEC, a policy must pass which of the following: A: five-pay test B: seven-pay test C: policy loan test D: accelerated benefits test Correct Answer: B: seven-pay test Download this pdf at https://learnexams.com/ and make it seo optimized
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