PSI Practice exam NJ Questions And Answers 2026

PSI Practice exam NJ Questions And
Answers 2026
allBofBtheBfollowingBareBownershipBrightsBEXCEPT:

A:BchangingBtheBbeneficiaryBofBtheBpolicy

B:BborrowingBfundsBagainstBcashBvalue

C:BswitchingBtheBpolicyBfromBonBinsuredBtoBanother

D:BassigningBallBofBtheBrightsBofBtheBpolicyBtoBanotherBpersonB-
BAnswerC:BswitchingBtheBpolicyBfromBonBinsuredBtoBanother



whichBofBtheBfollowingBisBcharacteristicBofBaBnonBqualifiedBplan:

A:BdefinedBvestingBschedule

B:BplanBestablishedBbyBtheBemployer

C:BplanBdoesBnotBmeetBfederalBguidelinesBforBtaxBbenefits

D:BemployerBcontributionsBareBdeductibleBbusinessBexpenseB-
BAnswerC:BplanBdoesBnotBmeetBfederalBguidelinesBforBtaxBbenefits



HowBdoBwarrantiesBdifferBfromBrepresentations?

A:BaBwarrantyBisBguaranteedBtoBbeBtrue,BaBrepresentationBisBbelievedBtoBbeBtrueBtoBtheBbes
tBofBone'sBknowledge

B:BaBrepresentationBisBguaranteedBtoBbeBtrue,BaBwarrantyBisBbelievedBtoBbeBtrueBtoBtheBbes
tBofBone'sBknowledge

C:BaBwarrantyBisBissuedBbyBtheBinsurer,BaBrepresentationBisBaBstatementBprovidedBbyBtheBap
plicantB

D:BanBincorrectBrepresentationBautomaticallyBvoidsBaBcontract,BwhereasBanBincorrectBwarranty
BmustBbeBprovenB-
BAnswerA:BaBwarrantyBisBguaranteedBtoBbeBtrue,BaBrepresentationBisBbelievedBtoBbeBtrueBto
BtheBbestBofBone'sBknowledge



inBwhichBofBtheBfollowingBmustBaBbeneficiaryBchangeBrequestBbeBfiledBinBwritingBtoBtheBins
urerBandBisBmadeBeffectiveBbyBtheBinsuranceBcompany:

A:BdesignationBoption

B:BrecordingBmethodB

C:BendorsementBmethod

D:BsuccessionBofBbeneficiariesB-BAnswerB:BrecordingBmethod

, allBofBtheBfollowingBareBrequiredBsignatureBonBaBlifeBinsuranceBapplicationBEXCEPT:

A:BtheBagent

B:BtheBapplicant

C:BtheBminorBinBaBjuvenileBpolicy

D:BtheBproposedBinsuredB-BAnswerC:BtheBminorBinBaBjuvenileBpolicy



allBofBtheBfollowingBareBfeaturesBofBtheBspendthriftBclauseBEXCEPT:

A:BproceedsBareBpaidBinBsomeBotherBwayBthanBaBsingleBpremium

B:BproceedsBareBprotectedBbyBtheBinsurerBfromBtheBbeneficiary'sBcreditors

C:BtransferBofBproceedsBtoBcreditors

D:BtheBbeneficiaryBmayBencumberBtheBproceedsB-
BAnswerD:BtheBbeneficiaryBmayBencumberBtheBproceeds



WhichBtypeBofBannuityBattemptsBtoBoffsetBinflationBbyBprovidingBaBbenefitBlinkedBtoBanBund
erlyingBinvestmentBaccount:

A:BdeferredB

B:Bfixed

C:Bimmediate

D:BvariableB-BAnswerD:Bvariable



howBdoesBtheBperBcapitaBruleBapplyBtoBproceedsBfromBaBlifeBinsuranceBpolicy:

A:BtheBproceedsBareBdividedBequallyBamongBlivingBprimaryBbeneficiaries

B:BtheBsecondaryBbeneficiaryBreceivesBtheBproceedsBifBtheBprimaryBbeneficiaryBisBnoBlongerBl
iving

C:BtheBproceedsBgoBtoBtheBpolicyholder'sBestateBwhenBnoBbeneficiaryBisBliving

D:BtheBproceedsBgoBtoBtheBdescendantsBofBtheBprimaryBbeneficiariesB-
BAnswerA:BtheBproceedsBareBdividedBequallyBamongBlivingBprimaryBbeneficiaries



ifBtheBinsurerBwishesBtoBshareBanBapplicant'sBHIVBstatus,BtheBapplicantBmustBbeBgivenBfullBn
oticeBofBallBofBtheBfollowingBEXCEPT:

A:Binsurer'sBpracticesBwithBrespectBtoBtheBtreatmentBofBthisBinformation

B:BtheBapplicant'sBrightBtoBmaintainBprivacy