PSi Exam Questions and Correct Detailed Answers
(Verified Answers) ||Already Graded A+|2026/2027
Updated|Newest Version
Quiz: Which statement is NOT a characteristic of Group Life Insurance
Plans?
Ans: Individual Underwriting
Quiz: Individuals who are eligible for Medicare on the first day of the month in
which they turn age 65 are automatically enrolled in:
Ans: Part B
Quiz: A contract will be deemed invalid if:
Ans: One party was not competent
Quiz: Which of the following is an example of a moral hazard?
Ans: An individual sets fire to a building to collect the insurance money
Quiz: Which of the following insurance policies pays a specific amount of
insurance for each day an individual is hospitalized?
o
o
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, Ans: Hospital Indemnity Insurance
Quiz: Without written consent, a policy owner CAN NOT change the
beneficiary if he has named:
Ans: An irrevocable beneficiary
Quiz: Which of the following would be the most appropriate reason for a 35-
year-old male in good health, who is the father of school-aged children, to
purchase term life insurance?
Ans: Provide financial security for dependents
Quiz: Reinsurance is a specialized branch of the insurance industry because
they:
Ans: Insure Insurers
Quiz: On an individual insurance application, which of the following signatures
is NOT Required?
Ans: Insurer
o
o
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, Quiz: Which is an accurate statement regarding the taxation of personal life
insurance?
Ans: Lump sum death benefits are income tax free
Quiz: If an insurer determined the insured is totally disabled, the policy owner
is relieved of paying the policy premium as long as the disability continues. This
statement describes the:
Ans: Waiver of premium rider
Quiz: Which of the following is an example of risk sharing?
Ans: Purchasing an insurance policy to cover liability exposures
Quiz: In Nebraska, Insurance companies must charge the same rate for
disability income insurance for individuals:
Ans: Of the same class and same hazard
Quiz: The primary reason for purchasing life insurance is to provide:
o
o
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, Ans: death benefits
Quiz: Which of the following is a characteristic of level premium life
insurance?
Ans: It can be used for cash value
Quiz: Who does not have insurable interest in the insured?
Ans: The insured's neighbor
Quiz: How many days after a major medical policy is delivered does a
consumer have to return it for a full refund?
Ans: 10 days
Quiz: The person who can request changes to an individual life insurance
contract is the:
Ans: Policy owner
o
o
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me in the number given.
(Verified Answers) ||Already Graded A+|2026/2027
Updated|Newest Version
Quiz: Which statement is NOT a characteristic of Group Life Insurance
Plans?
Ans: Individual Underwriting
Quiz: Individuals who are eligible for Medicare on the first day of the month in
which they turn age 65 are automatically enrolled in:
Ans: Part B
Quiz: A contract will be deemed invalid if:
Ans: One party was not competent
Quiz: Which of the following is an example of a moral hazard?
Ans: An individual sets fire to a building to collect the insurance money
Quiz: Which of the following insurance policies pays a specific amount of
insurance for each day an individual is hospitalized?
o
o
© 2025 TestTrackers
WhatsApp or call o Resources & Updates: [Testtrackers - Stuvia US]
[+254707240657] o Your Success is Our Mission!
o For online exams and tutor expert, please whatsapp
me in the number given.
, Ans: Hospital Indemnity Insurance
Quiz: Without written consent, a policy owner CAN NOT change the
beneficiary if he has named:
Ans: An irrevocable beneficiary
Quiz: Which of the following would be the most appropriate reason for a 35-
year-old male in good health, who is the father of school-aged children, to
purchase term life insurance?
Ans: Provide financial security for dependents
Quiz: Reinsurance is a specialized branch of the insurance industry because
they:
Ans: Insure Insurers
Quiz: On an individual insurance application, which of the following signatures
is NOT Required?
Ans: Insurer
o
o
© 2025 TestTrackers
WhatsApp or call o Resources & Updates: [Testtrackers - Stuvia US]
[+254707240657] o Your Success is Our Mission!
o For online exams and tutor expert, please whatsapp
me in the number given.
, Quiz: Which is an accurate statement regarding the taxation of personal life
insurance?
Ans: Lump sum death benefits are income tax free
Quiz: If an insurer determined the insured is totally disabled, the policy owner
is relieved of paying the policy premium as long as the disability continues. This
statement describes the:
Ans: Waiver of premium rider
Quiz: Which of the following is an example of risk sharing?
Ans: Purchasing an insurance policy to cover liability exposures
Quiz: In Nebraska, Insurance companies must charge the same rate for
disability income insurance for individuals:
Ans: Of the same class and same hazard
Quiz: The primary reason for purchasing life insurance is to provide:
o
o
© 2025 TestTrackers
WhatsApp or call o Resources & Updates: [Testtrackers - Stuvia US]
[+254707240657] o Your Success is Our Mission!
o For online exams and tutor expert, please whatsapp
me in the number given.
, Ans: death benefits
Quiz: Which of the following is a characteristic of level premium life
insurance?
Ans: It can be used for cash value
Quiz: Who does not have insurable interest in the insured?
Ans: The insured's neighbor
Quiz: How many days after a major medical policy is delivered does a
consumer have to return it for a full refund?
Ans: 10 days
Quiz: The person who can request changes to an individual life insurance
contract is the:
Ans: Policy owner
o
o
© 2025 TestTrackers
WhatsApp or call o Resources & Updates: [Testtrackers - Stuvia US]
[+254707240657] o Your Success is Our Mission!
o For online exams and tutor expert, please whatsapp
me in the number given.
