PSI Insurance Test Questions with 100% revised answers 2026.
Graded A+( most tested)
What is it called when a life insurance policy pays a multiple of the coverage
amount when certain types of accidents occur?
multiple indemnity
Upon the issuance of a conditional receipt for a renewal when the premium is paid
AFTER the time granted by the insurer, what is the maximum amount of time for
reinstatement of the policy?
30 days
Which of the following statements regarding a pure life annuity payout option is
correct?
This option provides the highest monthly income.
Which of the following does not apply to the time limit on certain defenses
provision in health insurance policies?
fraudulent misstatements
If an individual is insured by both their own health insurance policy and their
spouse's policy, which policy pays first in the event of an illness?
The individual's policy pays first, the spouse's policy pays the remaining up to
coverage amount
1|Page
Graded A+( most tested)
What is it called when a life insurance policy pays a multiple of the coverage
amount when certain types of accidents occur?
multiple indemnity
Upon the issuance of a conditional receipt for a renewal when the premium is paid
AFTER the time granted by the insurer, what is the maximum amount of time for
reinstatement of the policy?
30 days
Which of the following statements regarding a pure life annuity payout option is
correct?
This option provides the highest monthly income.
Which of the following does not apply to the time limit on certain defenses
provision in health insurance policies?
fraudulent misstatements
If an individual is insured by both their own health insurance policy and their
spouse's policy, which policy pays first in the event of an illness?
The individual's policy pays first, the spouse's policy pays the remaining up to
coverage amount
1|Page
