PSI Practice exam NJ Comprehensive Resource To Help You Ace 2026-2027 Exams Includes Frequently
Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
all of the following are ownership rights EXCEPT:
A: changing the beneficiary of the policy
B: borrowing funds against cash value
C: switching the policy from on insured to another
C: switching the policy from on insured to another
D: assigning all of the rights of the policy to another
person
which of the following is characteristic of a non qualified
plan:
A: defined vesting schedule
B: plan established by the employer C: plan does not meet federal guidelines for tax benefits
C: plan does not meet federal guidelines for tax benefits
D: employer contributions are deductible business ex-
pense
How do warranties ditter from representations?
A: a warranty is guaranteed to be true, a representation is
believed to be true to the best of one's knowledge
B: a representation is guaranteed to be true, a warranty is
A: a warranty is guaranteed to be true, a representation is
believed to be true to the best of one's knowledge
believed to be true to the best of one's knowledge
C: a warranty is issued by the insurer, a representation is
a statement provided by the applicant
D: an incorrect representation automatically voids a con-
tract, whereas an incorrect warranty must be proven
in which of the following must a beneficiary change re-
quest be filed in writing to the insurer and is made ettec-
tive by the insurance company:
A: designation option B: recording method
B: recording method
C: endorsement method
D: succession of beneficiaries
, PSI Practice exam NJ Comprehensive Resource To Help You Ace 2026-2027 Exams Includes Frequently
Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
all of the following are required signature on a life insur-
ance application EXCEPT:
A: the agent
C: the minor in a juvenile policy
B: the applicant
C: the minor in a juvenile policy
D: the proposed insured
all of the following are features of the spendthrift clause
EXCEPT:
A: proceeds are paid in some other way than a single
premium
D: the beneficiary may encumber the proceeds
B: proceeds are protected by the insurer from the bene-
ficiary's creditors
C: transfer of proceeds to creditors
D: the beneficiary may encumber the proceeds
Which type of annuity attempts to ottset inflation by pro-
viding a benefit linked to an underlying investment ac-
count:
A: deferred D: variable
B: fixed
C: immediate
D: variable
how does the per capita rule apply to proceeds from a life
insurance policy:
A: the proceeds are divided equally among living primary
beneficiaries
B: the secondary beneficiary receives the proceeds if the A: the proceeds are divided equally among living primary
primary beneficiary is no longer living beneficiaries
C: the proceeds go to the policyholder's estate when no
beneficiary is living
D: the proceeds go to the descendants of the primary
beneficiaries
Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
all of the following are ownership rights EXCEPT:
A: changing the beneficiary of the policy
B: borrowing funds against cash value
C: switching the policy from on insured to another
C: switching the policy from on insured to another
D: assigning all of the rights of the policy to another
person
which of the following is characteristic of a non qualified
plan:
A: defined vesting schedule
B: plan established by the employer C: plan does not meet federal guidelines for tax benefits
C: plan does not meet federal guidelines for tax benefits
D: employer contributions are deductible business ex-
pense
How do warranties ditter from representations?
A: a warranty is guaranteed to be true, a representation is
believed to be true to the best of one's knowledge
B: a representation is guaranteed to be true, a warranty is
A: a warranty is guaranteed to be true, a representation is
believed to be true to the best of one's knowledge
believed to be true to the best of one's knowledge
C: a warranty is issued by the insurer, a representation is
a statement provided by the applicant
D: an incorrect representation automatically voids a con-
tract, whereas an incorrect warranty must be proven
in which of the following must a beneficiary change re-
quest be filed in writing to the insurer and is made ettec-
tive by the insurance company:
A: designation option B: recording method
B: recording method
C: endorsement method
D: succession of beneficiaries
, PSI Practice exam NJ Comprehensive Resource To Help You Ace 2026-2027 Exams Includes Frequently
Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
all of the following are required signature on a life insur-
ance application EXCEPT:
A: the agent
C: the minor in a juvenile policy
B: the applicant
C: the minor in a juvenile policy
D: the proposed insured
all of the following are features of the spendthrift clause
EXCEPT:
A: proceeds are paid in some other way than a single
premium
D: the beneficiary may encumber the proceeds
B: proceeds are protected by the insurer from the bene-
ficiary's creditors
C: transfer of proceeds to creditors
D: the beneficiary may encumber the proceeds
Which type of annuity attempts to ottset inflation by pro-
viding a benefit linked to an underlying investment ac-
count:
A: deferred D: variable
B: fixed
C: immediate
D: variable
how does the per capita rule apply to proceeds from a life
insurance policy:
A: the proceeds are divided equally among living primary
beneficiaries
B: the secondary beneficiary receives the proceeds if the A: the proceeds are divided equally among living primary
primary beneficiary is no longer living beneficiaries
C: the proceeds go to the policyholder's estate when no
beneficiary is living
D: the proceeds go to the descendants of the primary
beneficiaries
