PSI INSURANCE EXAM 2024 ACTUAL EXAM
COMPLETE QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT
ANSWERS) / ALREADY GRADED A+
1. If the insurer wishes to share an applicant's HIV
status, the applicant must be given full notice of all of
the following EXCEPT
A-The applicant's rights to maintain privacy
B-An opportunity to refuse the dissemination of the
information
C-Insurer's practices with respect to the treatment of this
information
D-The treatment procedures that are covered by the policy.
ANS: D
2. All of the following are common exclusions from loss
found in disability income policies EXCEPT for that
incurred while
A) committing a misdemeanor
B) piloting a personal aircraft
,C) living overseas
D) serving in the military ANS: A
3. What type of insurance should a company purchase if
it wants to insure the life of its CEO?
A) BOE insurance
B) key person insurance
C) industrial life insurance
D) group life policy ANS: B
4. For an individual long-term care policy there is an
annual dollar limit for tax-deductions that is base on
which of the following?
A) age
B) premium cost
C) cost of care
D) policy value ANS: A
5. Which of the following is exempted from the
incontestability provision in insurance policies?
, A) change in health
B) pre-existing conditions
C) changes in the insurance code
D) fraudulent misstatements ANS: D
6. Which of the following term insurance types provides
temporary protection that can be changed to some type
of permanent protection without evidence of
insurability?
A) re-entry
B) decreasing
C) level
D) convertible ANS: D
7. Which annuity settlement option provides a stated
monthly amount to the annuitant and upon the
annuitant's death the same or a lesser amount paid for
the lifetime of the survivor?
A) Refund life annuity option
B) Life annuity certain option
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