STRATEGIES REVIEW OF KEY QUIZZES WITH 100%
(RATED A+)
This PSI Life, Accident, and Health Practice Exam is a targeted 75-question study guide
designed to help aspiring insurance producers pass their state licensing exams.
Key Exam Concepts & Answers
Below are highly tested core sample questions and answers extracted from this specific
• Misstatement of Age/Gender: Benefits are adjusted to the amount the premium would
have purchased at the correct age or gender.
• Notice of Claim: Must be given to the insurer within 20 days after a covered loss occurs.
• UCR Basis: A policy pays on a Usual, Customary, and Reasonable (UCR) basis when
benefits are not listed on a specific payment schedule.
• Non-forfeiture Options: Options include Cash Surrender, Extended Term, and Reduced
Paid-Up. Cash Dividend is not a non-forfeiture option (it is a policy dividend option).
• Lifetime Maximum Benefit: Once reached, the insured must pay all remaining medical
costs for as long as the policy stays in force.
• Death Claim Notification: The producer (agent) is responsible for ensuring the
insurance company is notified of a death claim as early as possible.
Official PSI Exam Formats
While this practice set use a condensed 75-question format for rapid study, the actual state
licensing exams administered by PSI Services vary by state requirements. For instance, according to
the California Department of Insurance, the full Life, Accident & Health or Sickness exam consists
of 150 questions with a 3-hour time limit.
Quiz_________________?
2 year period -
ANSWER✅
1
, When the suicide clause is inserted in a life insurance contract, death by suicide is not
covered during the policy's initial:
Quiz_________________?
2 years -
ANSWER✅
How long after being entitled to disability benefits will an individual be eligible to receive
Medicare benefits?
Quiz_________________?
10 -
ANSWER✅
State generally define a true "Group" for insurance as requiring a minimum of how many
participants?
Quiz_________________?
100% -
ANSWER✅
In noncontributory plans, which percentage of eligible members must participate?
Quiz_________________?
A life-changing event, such as marriage, divorce, or childbirth. -
ANSWER✅
A group conversion option may be used in all the following instances EXCEPT?
2
, Quiz_________________?
A warranty is guaranteed to be true, a representation is believed to be true to the best of
one's knowledge. -
ANSWER✅
How do warranties differ from representations?
Quiz_________________?
Accidental death -
ANSWER✅
Which of the following policy types is considered double indemnity?
Quiz_________________?
Age -
ANSWER✅
For an individual long-term care policy there is an annual dollar limit for tax deduction that
is based on which of the following?
Quiz_________________?
An increasing amount of term insurance that always equals the total of premiums paid up to
the current point. -
ANSWER✅
What is the return of premium rider?
Quiz_________________?
3
(RATED A+)
This PSI Life, Accident, and Health Practice Exam is a targeted 75-question study guide
designed to help aspiring insurance producers pass their state licensing exams.
Key Exam Concepts & Answers
Below are highly tested core sample questions and answers extracted from this specific
• Misstatement of Age/Gender: Benefits are adjusted to the amount the premium would
have purchased at the correct age or gender.
• Notice of Claim: Must be given to the insurer within 20 days after a covered loss occurs.
• UCR Basis: A policy pays on a Usual, Customary, and Reasonable (UCR) basis when
benefits are not listed on a specific payment schedule.
• Non-forfeiture Options: Options include Cash Surrender, Extended Term, and Reduced
Paid-Up. Cash Dividend is not a non-forfeiture option (it is a policy dividend option).
• Lifetime Maximum Benefit: Once reached, the insured must pay all remaining medical
costs for as long as the policy stays in force.
• Death Claim Notification: The producer (agent) is responsible for ensuring the
insurance company is notified of a death claim as early as possible.
Official PSI Exam Formats
While this practice set use a condensed 75-question format for rapid study, the actual state
licensing exams administered by PSI Services vary by state requirements. For instance, according to
the California Department of Insurance, the full Life, Accident & Health or Sickness exam consists
of 150 questions with a 3-hour time limit.
Quiz_________________?
2 year period -
ANSWER✅
1
, When the suicide clause is inserted in a life insurance contract, death by suicide is not
covered during the policy's initial:
Quiz_________________?
2 years -
ANSWER✅
How long after being entitled to disability benefits will an individual be eligible to receive
Medicare benefits?
Quiz_________________?
10 -
ANSWER✅
State generally define a true "Group" for insurance as requiring a minimum of how many
participants?
Quiz_________________?
100% -
ANSWER✅
In noncontributory plans, which percentage of eligible members must participate?
Quiz_________________?
A life-changing event, such as marriage, divorce, or childbirth. -
ANSWER✅
A group conversion option may be used in all the following instances EXCEPT?
2
, Quiz_________________?
A warranty is guaranteed to be true, a representation is believed to be true to the best of
one's knowledge. -
ANSWER✅
How do warranties differ from representations?
Quiz_________________?
Accidental death -
ANSWER✅
Which of the following policy types is considered double indemnity?
Quiz_________________?
Age -
ANSWER✅
For an individual long-term care policy there is an annual dollar limit for tax deduction that
is based on which of the following?
Quiz_________________?
An increasing amount of term insurance that always equals the total of premiums paid up to
the current point. -
ANSWER✅
What is the return of premium rider?
Quiz_________________?
3
