PSI TEST QUESTIONS 2026: 50 QUESTIONS AND
ANSWERS | GRADED A+ | GUARANTEED PASS!!
All life insurance and health insurance contracts contain all of the following
EXCEPT
- answer-Representations
All of the following are classifications of risk EXCEPT
- answer-non-nicotine.
All of the following are common exclusions from loss found in disability income
policies EXCEPT for that incurred while
- answer-commiting a misdemeanor
All of the following are features of the spendthrift clause EXCEPT
- answer-the beneficiary may encumber the proceeds.
All of the following are ownership rights EXCEPT
- answer-switching the policy from one insured to another
All of the following are required signatures on a life insurance application
EXCEPT
- answer-the minor in a juvenile policy.
All of the following are tax qualified retirement plans EXCEPT
- answer-Section 529 plan
All of the following are TRUE regarding incomplete applications EXCEPT
- answer-the incomplete application can be accepted with the missing information
added later.
An insured and the beneficiary are both killed in a fatal accident. Which provision
presumes the insured survived the beneficiary?
- answer-common disaster clause
Current assumption whole life policies are sensitive to which of the following?
- answer-interest rates
, For an individual long-term care policy there is an annual dollar limit for tax
deductions that is based on which of the following?
- answer-age
Group AD&D policies may be deducted by whom and under which deduction
category?
- answer-the employer under business expenses
How do warranties differ from representations?
- answer-a warranty is guaranteed to be true, a representation is believed to be true
to the best of one's knowledge.
How does the per capita rule apply to proceeds from a life insurance policy?
- answer-The proceeds are divided equally among living primary beneficiaries.
How might someone cover the extra expenses of child care and home-related
costs?
- answer-purchasing family term insurance
If the insurer wishes to share an applicant's HIV status, the applicant must be given
full notice of all of the following EXCEPT
- answer-the treatment procedures that are covered by the policy.
In a level term life policy, which ALWAYS remains constant?
- answer-death benefit
In order to AVOID being classified as an MEC, a policy must pass which of the
following?
- answer-seven-pay test
In which of the following must a beneficiary change request be filed in writing to
the insurer and is made effective by the insurance company recording the change in
its records?
- answer-recording method
Joint and survivorship option
- answer-It has a guaranteed minimum interest rate.
ANSWERS | GRADED A+ | GUARANTEED PASS!!
All life insurance and health insurance contracts contain all of the following
EXCEPT
- answer-Representations
All of the following are classifications of risk EXCEPT
- answer-non-nicotine.
All of the following are common exclusions from loss found in disability income
policies EXCEPT for that incurred while
- answer-commiting a misdemeanor
All of the following are features of the spendthrift clause EXCEPT
- answer-the beneficiary may encumber the proceeds.
All of the following are ownership rights EXCEPT
- answer-switching the policy from one insured to another
All of the following are required signatures on a life insurance application
EXCEPT
- answer-the minor in a juvenile policy.
All of the following are tax qualified retirement plans EXCEPT
- answer-Section 529 plan
All of the following are TRUE regarding incomplete applications EXCEPT
- answer-the incomplete application can be accepted with the missing information
added later.
An insured and the beneficiary are both killed in a fatal accident. Which provision
presumes the insured survived the beneficiary?
- answer-common disaster clause
Current assumption whole life policies are sensitive to which of the following?
- answer-interest rates
, For an individual long-term care policy there is an annual dollar limit for tax
deductions that is based on which of the following?
- answer-age
Group AD&D policies may be deducted by whom and under which deduction
category?
- answer-the employer under business expenses
How do warranties differ from representations?
- answer-a warranty is guaranteed to be true, a representation is believed to be true
to the best of one's knowledge.
How does the per capita rule apply to proceeds from a life insurance policy?
- answer-The proceeds are divided equally among living primary beneficiaries.
How might someone cover the extra expenses of child care and home-related
costs?
- answer-purchasing family term insurance
If the insurer wishes to share an applicant's HIV status, the applicant must be given
full notice of all of the following EXCEPT
- answer-the treatment procedures that are covered by the policy.
In a level term life policy, which ALWAYS remains constant?
- answer-death benefit
In order to AVOID being classified as an MEC, a policy must pass which of the
following?
- answer-seven-pay test
In which of the following must a beneficiary change request be filed in writing to
the insurer and is made effective by the insurance company recording the change in
its records?
- answer-recording method
Joint and survivorship option
- answer-It has a guaranteed minimum interest rate.
