CA PSI SITE FINAL SCRIPT 2026
COMPLETE LICENSING QUESTIONS AND
ANSWERS PACKAGE
◉ A policyowner may exercise which of these dividend options that
uses the dividend to pay all or part of the next premium due?]
Extended term option
Paid-up option
Reduction of premium dividend option
Cash dividend option.
Answer: Reduction of premium dividend option
◉ Which of these is NOT a characteristic of the Accelerated Death
Benefit option?
The face amount and policy premium are not affected by the
payment
The benefit can be offered as a rider at a specific extra cost or may
be at no cost
There may be a dollar limit on the maximum benefit
,Before payment of the benefit is made, specific conditions must
exist, such as suffering from a terminal illness.
Answer: The benefit can be offered as a rider at a specific extra cost
or may be at no cost
◉ Which of these is NOT considered to be a common life insurance
nonforfeiture option?
Reduced paid-up insurance
Life income annuity
Extended term insurance
Cash surrender.
Answer: Life income annuity
◉ Which type of rider will waive the premium on a child's life
insurance policy if the parent paying the premium dies?
Juvenile waiver
Payor benefit
Guaranteed insurability
Waiver of premium.
Answer: Payor benefit
,◉ Kurt is an active duty serviceman who was recently killed in an
accident while home on leave. Which military service exclusion
clause would pay upon his death?
Status
Leave
Active
Results.
Answer: Results
◉ Matt is applying for life insurance and requests a double
indemnity rider. A double indemnity benefit will be payable to Matt's
beneficiary if Matt
dies of a stroke
dies instantly from a car accident
is injured in a skiing accident and dies 18 months later
is killed while committing a felony.
Answer: dies instantly from a car accident
◉ The double indemnity provision in a life insurance policy pertains
to an insured's death caused by a(n)
, suicide
war
sickness
accident.
Answer: accident
◉ Life insurance policies will normally pay for losses arising from
war
suicide
hazardous jobs
commercial aviation.
Answer: commercial aviation
◉ Ownership of a life insurance policy may be temporarily
transferred with a(n)
absolute assignment
transferable assignment
beneficiary assignment
collateral assignment.
Answer: collateral assignment
COMPLETE LICENSING QUESTIONS AND
ANSWERS PACKAGE
◉ A policyowner may exercise which of these dividend options that
uses the dividend to pay all or part of the next premium due?]
Extended term option
Paid-up option
Reduction of premium dividend option
Cash dividend option.
Answer: Reduction of premium dividend option
◉ Which of these is NOT a characteristic of the Accelerated Death
Benefit option?
The face amount and policy premium are not affected by the
payment
The benefit can be offered as a rider at a specific extra cost or may
be at no cost
There may be a dollar limit on the maximum benefit
,Before payment of the benefit is made, specific conditions must
exist, such as suffering from a terminal illness.
Answer: The benefit can be offered as a rider at a specific extra cost
or may be at no cost
◉ Which of these is NOT considered to be a common life insurance
nonforfeiture option?
Reduced paid-up insurance
Life income annuity
Extended term insurance
Cash surrender.
Answer: Life income annuity
◉ Which type of rider will waive the premium on a child's life
insurance policy if the parent paying the premium dies?
Juvenile waiver
Payor benefit
Guaranteed insurability
Waiver of premium.
Answer: Payor benefit
,◉ Kurt is an active duty serviceman who was recently killed in an
accident while home on leave. Which military service exclusion
clause would pay upon his death?
Status
Leave
Active
Results.
Answer: Results
◉ Matt is applying for life insurance and requests a double
indemnity rider. A double indemnity benefit will be payable to Matt's
beneficiary if Matt
dies of a stroke
dies instantly from a car accident
is injured in a skiing accident and dies 18 months later
is killed while committing a felony.
Answer: dies instantly from a car accident
◉ The double indemnity provision in a life insurance policy pertains
to an insured's death caused by a(n)
, suicide
war
sickness
accident.
Answer: accident
◉ Life insurance policies will normally pay for losses arising from
war
suicide
hazardous jobs
commercial aviation.
Answer: commercial aviation
◉ Ownership of a life insurance policy may be temporarily
transferred with a(n)
absolute assignment
transferable assignment
beneficiary assignment
collateral assignment.
Answer: collateral assignment
