5/16/25, 12:10 PM PSI Insurance Exam (OH Life, Accident, and Health) ACTUAL EXAM QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ G…
PSI Insurance Exam (OH Life, Accident, and
Health) ACTUAL EXAM QUESTIONS WITH
COMPLETE SOLUTION GUIDE (A+ GRADED 100%
VERIFIED) LATEST VERSION 2025!!
Save
Terms in this set (228)
What is it called when a multiple indemnity
life insurance policy pays
a multiple of the coverage
amount when certain
types of accidents occur?
Upon the issuance of a 30 days
conditional receipt for a
renewal when the
premium is paid AFTER the
time granted by the
insurer, what is the
maximum amount of time
for reinstatement of the
policy?
Which of the following This option provides the highest monthly income.
statements regarding a
pure life annuity payout
option is correct?
https://quizlet.com/1044752375/psi-insurance-exam-oh-life-accident-and-health-actual-exam-questions-with-complete-solution-guide-a-graded-100-v… 1/34
,5/16/25, 12:10 PM PSI Insurance Exam (OH Life, Accident, and Health) ACTUAL EXAM QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ G…
Which of the following fraudulent misstatements
does not apply to the time
limit on certain defenses
provision in health
insurance policies?
If an individual is insured The individual's policy pays first, the spouse's policy
by both their own health pays the remaining up to coverage amount.
insurance policy and their
spouse's policy, which
policy pays first in the
event of an illness?
When can the premiums when the taxpayer's unreimbursed medical expenses
of an individually owned exceed 7.5% of adjusted gross income during a
health insurance policy be taxable year
deducted from the
individual's income tax?
When the suicide clause is 2 year period.
inserted in a life insurance
contract, death by suicide
is not covered during the
policy's initial
Which of the following is a preventive care
characteristic of Health
Maintenance
Organizations (HMOs)?
The life insurance policy the producer has explained the policy to the client.
will not be truly effective
until all of the following
occur EXCEPT
Under which situation when a third-party applicant names themselves
must insurable interest beneficiary
exist between the
applicant and insured at
the time of application?
https://quizlet.com/1044752375/psi-insurance-exam-oh-life-accident-and-health-actual-exam-questions-with-complete-solution-guide-a-graded-100-v… 2/34
,5/16/25, 12:10 PM PSI Insurance Exam (OH Life, Accident, and Health) ACTUAL EXAM QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ G…
Which of the following is a The cash value earnings are based on the
distinguishing feature of a performance of the separate account.
variable life insurance
policy?
The person who receives annuitant.
the benefit of an annuity is
known as the
Which of the following is annual premium payment
an example of a premium
payment mode?
How do most disability it must be handled as a new claim for a new period of
policies handle the case disability, requiring a new elimination period.
of a recurrent disability
occurring at least 90 days
after the first claim?
Which of the following is Routine care is provided without coinsurance or
true for most deductibles.
comprehensive dental
policies?
Under a Medicare 6 months
Supplement Policy,
preexisting conditions
CANNOT be excluded
after how many months
from the effective date of
the policy?
What does an application an offer
for insurance contractually
represent for the insured?
Which of the following is fraudulent misstatements
exempted from the
incontestability provision
in insurance policies?
https://quizlet.com/1044752375/psi-insurance-exam-oh-life-accident-and-health-actual-exam-questions-with-complete-solution-guide-a-graded-100-v… 3/34
, 5/16/25, 12:10 PM PSI Insurance Exam (OH Life, Accident, and Health) ACTUAL EXAM QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ G…
Which of the following elimination period
may be thought of as a
time deductible rather
than a dollar deductible in
a disability income policy
because benefits are not
payable during that time?
How long after being 2 years
entitled to Social Security
disability benefits will an
individual be eligible to
receive Medicare
benefits?
If a policy is determined to considered taxable income first.
be a Modified Endowment
Contract (MEC), funds
received under the policy
will be
Which type of annuity variable
attempts to offset inflation
by providing a benefit
linked to an underlying
investment account?
medical information on an applicant for assessing life
What is a MIB report?
or health insurance risk
Group Life Policies conversion privilege
typically include which of
the following provisions?
In a case where an The individual's policy pays first, the spouse's policy
individual's health is pays the remaining up to coverage amount.
insured by both their own
policy and their spouse's
policy, which policy pays
in the event of an illness?
https://quizlet.com/1044752375/psi-insurance-exam-oh-life-accident-and-health-actual-exam-questions-with-complete-solution-guide-a-graded-100-v… 4/34
PSI Insurance Exam (OH Life, Accident, and
Health) ACTUAL EXAM QUESTIONS WITH
COMPLETE SOLUTION GUIDE (A+ GRADED 100%
VERIFIED) LATEST VERSION 2025!!
Save
Terms in this set (228)
What is it called when a multiple indemnity
life insurance policy pays
a multiple of the coverage
amount when certain
types of accidents occur?
Upon the issuance of a 30 days
conditional receipt for a
renewal when the
premium is paid AFTER the
time granted by the
insurer, what is the
maximum amount of time
for reinstatement of the
policy?
Which of the following This option provides the highest monthly income.
statements regarding a
pure life annuity payout
option is correct?
https://quizlet.com/1044752375/psi-insurance-exam-oh-life-accident-and-health-actual-exam-questions-with-complete-solution-guide-a-graded-100-v… 1/34
,5/16/25, 12:10 PM PSI Insurance Exam (OH Life, Accident, and Health) ACTUAL EXAM QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ G…
Which of the following fraudulent misstatements
does not apply to the time
limit on certain defenses
provision in health
insurance policies?
If an individual is insured The individual's policy pays first, the spouse's policy
by both their own health pays the remaining up to coverage amount.
insurance policy and their
spouse's policy, which
policy pays first in the
event of an illness?
When can the premiums when the taxpayer's unreimbursed medical expenses
of an individually owned exceed 7.5% of adjusted gross income during a
health insurance policy be taxable year
deducted from the
individual's income tax?
When the suicide clause is 2 year period.
inserted in a life insurance
contract, death by suicide
is not covered during the
policy's initial
Which of the following is a preventive care
characteristic of Health
Maintenance
Organizations (HMOs)?
The life insurance policy the producer has explained the policy to the client.
will not be truly effective
until all of the following
occur EXCEPT
Under which situation when a third-party applicant names themselves
must insurable interest beneficiary
exist between the
applicant and insured at
the time of application?
https://quizlet.com/1044752375/psi-insurance-exam-oh-life-accident-and-health-actual-exam-questions-with-complete-solution-guide-a-graded-100-v… 2/34
,5/16/25, 12:10 PM PSI Insurance Exam (OH Life, Accident, and Health) ACTUAL EXAM QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ G…
Which of the following is a The cash value earnings are based on the
distinguishing feature of a performance of the separate account.
variable life insurance
policy?
The person who receives annuitant.
the benefit of an annuity is
known as the
Which of the following is annual premium payment
an example of a premium
payment mode?
How do most disability it must be handled as a new claim for a new period of
policies handle the case disability, requiring a new elimination period.
of a recurrent disability
occurring at least 90 days
after the first claim?
Which of the following is Routine care is provided without coinsurance or
true for most deductibles.
comprehensive dental
policies?
Under a Medicare 6 months
Supplement Policy,
preexisting conditions
CANNOT be excluded
after how many months
from the effective date of
the policy?
What does an application an offer
for insurance contractually
represent for the insured?
Which of the following is fraudulent misstatements
exempted from the
incontestability provision
in insurance policies?
https://quizlet.com/1044752375/psi-insurance-exam-oh-life-accident-and-health-actual-exam-questions-with-complete-solution-guide-a-graded-100-v… 3/34
, 5/16/25, 12:10 PM PSI Insurance Exam (OH Life, Accident, and Health) ACTUAL EXAM QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ G…
Which of the following elimination period
may be thought of as a
time deductible rather
than a dollar deductible in
a disability income policy
because benefits are not
payable during that time?
How long after being 2 years
entitled to Social Security
disability benefits will an
individual be eligible to
receive Medicare
benefits?
If a policy is determined to considered taxable income first.
be a Modified Endowment
Contract (MEC), funds
received under the policy
will be
Which type of annuity variable
attempts to offset inflation
by providing a benefit
linked to an underlying
investment account?
medical information on an applicant for assessing life
What is a MIB report?
or health insurance risk
Group Life Policies conversion privilege
typically include which of
the following provisions?
In a case where an The individual's policy pays first, the spouse's policy
individual's health is pays the remaining up to coverage amount.
insured by both their own
policy and their spouse's
policy, which policy pays
in the event of an illness?
https://quizlet.com/1044752375/psi-insurance-exam-oh-life-accident-and-health-actual-exam-questions-with-complete-solution-guide-a-graded-100-v… 4/34
