PSI Ohio Insurance Practice Exam

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Get ready for the PSI Ohio Insurance Test. Use flashcards and multiple choice questions, each with hints and explanations. Ace your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which of the following is considered a limited policy?

Whole life insurance
Accident Only insurance
Term life insurance
Universal life insurance

The correct answer is: Accident Only insurance

A limited policy is designed to cover specific risks or perils rather than providing broad coverage. Accident Only insurance falls into this category because it specifically insures against losses that result from accidents. This type of policy does not cover illnesses or other types of injuries, limiting its scope to a narrow range of situations. Whole life insurance, term life insurance, and universal life insurance are all broader policies that provide coverage in various circumstances, such as death due to illness, accidents, or other factors, making them more comprehensive rather than limited. Thus, Accident Only insurance is correctly identified as a limited policy since it is focused solely on the risks associated with accidents.