PSI Study questions Life, Health and Accident and Answers Updated 2026.

PSI Study questions Life, Health
and Accident and Answers
Updated 2026
HealthBSavingsBAccountsB(ASA)BcoverBcurrentBandBfutureBqualifiedBhealthcareBcosts.BA
ccountBbeneficiariesBcanBmakeBtax-
freeBwithdrawalsBtoBcoverBallBofBtheBfollowingBEXCEPTB-BAnswerBMedigapBexpenses



WhatBisBitBcalledBwhenBanBinsuredBtemporarilyBgivesBaBlenderBrightsBtoBtheBbenefits
BofBhisBLifeBpolicy?B-BAnswerBCollateralBAssignment



WhichBisBTRUEBconcerningBtheBreplacementBforBeitherBandBLTCB(LongBTermBCare)Bor
BanBMSPB(BMedicareBsecondaryBPayer)?B-
BAnswerBTheBNoticeBtoBApplicantBRegardingBReplacementBmustBbeBdeliveredBtoBtheB
policyBownerBpriorBtoBtheBissuanceBofBdeliveryBofBtheBpolicy.



WhichBisBconsideredBaBcostBcontainmentBinBhealthBinsurance?B-
BAnswerButilizationBmanagement



WhichBpolicyBtypeBisBbackedBbyBequityBinvestmentsBandBallowsBtheBpolicyholderBtoB
adjustBtheBdeathBbenefit?B-BAnswerBvariableBuniversalBlife



WhichBstatementBconcerningBtheBGraceBPeriodBinBIndividualBHealthBpolicesBisBTRUE?B
-BAnswerBPremiumBmodeBdictatesBtheBGraceBPeriod



HowBoftenBdoBorganizationsBneedBtoBcheckBtheBDoBNotBCallBRegistryBinBorderBtoBsta
yBinBcompliance?B-BAnswerBEveryB31Bdays



ABwomanBisBdiagnosedBwithBAlzheimer'sB3BmonthsBbeforeBsheBappliesBforBaBMedicar
eBSupplementBpolicy.BCanBherBconditionBbeBexcludedBunderBherBMSP?B-
BAnswerBYes,BbutBherBconditionBwillBbeBcoveredBafterB6Bmonths.

,IfBanBinsuranceBcompanyBobtainsBanBinvestigativeBconsumerBreportBonBaBprospectiveB
insuredBitBmustBinformBtheBprospectBthatBitBisBpermittedBtoBdoBsoBunderBwhichBofB
theBfollowingBFederalBLaws?B-BAnswerBTheBFairBCreditBReportingBAct



WhyBisBrelyingBsolelyBonBemployerBgroupBlifeBinsuranceBgenerallyBconsideredBinadequ
ateBforBmostBindividual'sBneeds?B-
BAnswerBItBisBfinanciallyBinsufficientBtoBcoverBendBofBlifeBexpenses



IfBanBindividualBisBinsuredBbyBbothBtheirBownBhealthBinsuranceBpolicyBandBtheirBspo
use'sBpolicy,BwhichBpolicyBpaysBfirstBinBtheBeventBofBanBillness?B-
BAnswerBTheBindividual'sBpolicyBpaysBfirst,BtheBspouse'sBpolicyBpaysBtheBremainingBu
pBtoBcoverageBamount.



WhichBplansBareBcommonlyBofferedBthroughBtheBworksiteB(employerBsponsored)B-
BAnswerBMedicare



ABbasicBvisionBcareBpackageBincludesBallBofBtheBfollowingBEXCEPTB-
BAnswerBSafetyBGlasses



WhatBdoesBtheBinsuranceBcompanyBdoBifBtheBannuityBownerBdiesBduringBtheBaccum
ulationBperiodBofBanBannuityBcontract?B-
BAnswerBreturnsBtheBvalueBofBtheBaccountBtoBtheBdesignatedBbeneficiary



WhichBfederalBlawBrequiresBfinancialBinstitutionsBtoBprovideBtheBconsumerBwithBinfor
mationBonBhowBpersonalBinformationBisBused?B-BAnswerBGramm-Leach-BlileyBAct



WhichBLifeBpolicyBwouldBhaveBanBincreasedBpremiumBafterBaBgivenBperiodBtime?B-
BAnswerBConvertibleBTerm



WhichBtypeBofBinsuranceBprovidesBbenefitsBforBexpensesBincurredBasBaBresultBofBhos
pitalizationBsurgicalBproceduresBandBoutpatientBexpensesBsuchBasBofficeBvisitsBlaborato
ryBtestBandBdiagnosticBservices?B-BAnswerBMedicalBExpense

, CurrentBassumptionBwholeBlifeBpoliciesBareBsensitiveBtoBwhichBofBtheBfollowing?B-
BAnswerBinterestBrates



AccordingBtoBtheBtimeBofBpaymentBofBclaimsBprovision,BtheBinsurerBmustBmakeBtheB
paymentBimmediatelyBafterBreceivingBproofBofBlossBEXCEPTB-
BAnswerBforBclaimsBinvolvingBperiodicBpayments



AnBinsuredBhasBaBmajorBmedicalBpolicyBwithBaB$1,000BflatBdeductible,BandB80/20Bco
insuranceBclauseBandBaB$10,000Bstop-
lossBfeature.BFollowingBaBcoveredBlossBofB$6,000,BhowBmuchBofBtheBlossBmustBtheBi
nsuredBpay?B-BAnswerB$2,000



WhichBcontractBtermBbestBdescribesBanBapplicationBsubmittedBtoBtheBinsuranceBcomp
anyBalongBwithBinitialBpremium?B-BAnswerBoffer



WhatBisBanBapplicationBsubmittedBtoBanBinsuranceBcompanyBwithoutBpremiumBlegally
BconsideredBtoBbe?B-BAnswerBanBinvitationBtoBmakeBanBoffer



ABlifeBinsuranceBapplicationBrequiresBtheBsignaturesBofBallBofBtheBfollowingBEXCEPTBt
heB-BAnswerBbeneficiary



InBaBhealthBinsuranceBpolicyBwhatBestablishesBtheBcompany'sBconsideration?B-
BAnswerBtheBpromisesBcontainedBinBtheBpolicy



WhatBisBaBcontract?B-BAnswerBanBagreement



MarcieBpaidB1,800BtoBtheBinsuranceBcompanyBasBherBfirstByear'sBpremiumBforBherBM
ajorBMedicalBpolicy.BWhenBsheBisBseverelyBinjuredBinBanBavalancheBonBaBskiBtrip,Bth
eBcompanyBpaidBoutBoverB100,000$BtoBcoverBherBmedicalBbills.BTheBunequalBexchan
geBofBvaluesBdemonstratesBthatBtheBinsuranceBpolicyBisBwhichBtypeBofBcontract?B-
BAnswerBaleatory