PSI Online Practice Life Exam Questions
and Answers 2026 Update
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. -
Correct Answers ✅D
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 - Correct Answers ✅A
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
,PSI Online Practice Life Exam Questions
and Answers 2026 Update
C) industrial life insurance
D) group life policy - Correct Answers ✅B
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 - Correct Answers ✅A
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 - Correct Answers ✅D
Which of the following term insurance types provides
temporary protection that can be changed to some type of
permanent protection without evidence of insurability?
, PSI Online Practice Life Exam Questions
and Answers 2026 Update
A) re-entry
B) decreasing
C) level
D) convertible - Correct Answers ✅D
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
C) Joint life option
D) Joint and survivorship option - Correct Answers ✅D
Which one of the following is particularly important for an
insurance producer to explain to a client upon delivery of a
life insurance policy?
A) the effective date
B) premium due dates
C) any exclusions
loan interest rates - Correct Answers ✅C
All of the following are ownership rights EXCEPT
and Answers 2026 Update
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. -
Correct Answers ✅D
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 - Correct Answers ✅A
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
,PSI Online Practice Life Exam Questions
and Answers 2026 Update
C) industrial life insurance
D) group life policy - Correct Answers ✅B
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 - Correct Answers ✅A
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 - Correct Answers ✅D
Which of the following term insurance types provides
temporary protection that can be changed to some type of
permanent protection without evidence of insurability?
, PSI Online Practice Life Exam Questions
and Answers 2026 Update
A) re-entry
B) decreasing
C) level
D) convertible - Correct Answers ✅D
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
C) Joint life option
D) Joint and survivorship option - Correct Answers ✅D
Which one of the following is particularly important for an
insurance producer to explain to a client upon delivery of a
life insurance policy?
A) the effective date
B) premium due dates
C) any exclusions
loan interest rates - Correct Answers ✅C
All of the following are ownership rights EXCEPT
