Managing personal Outlook.com account settings, security, and privacy
Sarah,
In what way did yu receive such a survey? As an email? Who/what email address sent you this?
Microsoft's updated term usually pops up when you log into your account and you just need to acknowledge it, it shouldn't be in an email or any separate way like survey, and it shouldn't ask you to enter anything like your personal info. This is typically a phishing scam done in the name of Microsoft.
Your account also wont be deactivated because of this.
Can you tell me what type of info have you already provided?