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PSI Life, Accident & Health Insurance Exam V1 ( Update 2025 / 2026) Questions and Answers ( Answers)
Question:
State generally define a true "Group" for insurance as requiring a minimum of how many participants?
Answer:
10
Question:
Which of the following policy types is considered double indemnity?
Answer:
Accidental death
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Question:
Which of the following is true about a decreasing term life policy?
Answer:
The face amount reached zero at policy expiration.
Question:
Which of the following lists the three common types of permanent individual life insurance?
Answer:
Variable Life, Whole Life, Universal Life
Question:
Which types of life policy can be continued year after year without a required medical examination but rates are dependent on the insured's current age?
Answer:
Renewable term
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Question:
Which of the following coverage types pays a monthly cash benefit following the elimination period for total disability due to accident or sickness?
Answer:
Disability income insurance
Question:
Which of the following is TRUE of an equity-indexed annuity?
Answer:
It has a minimum interest rate.
Question:
Compared to basic hospital, medical and surgical policies, which type of insurance provides broader coverage, fewer gaps, higher individual benefits, and higher policy maximums?
Answer:
Major medical insurance.
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