NY LIFE ACCIDENT AND HEALTH
INSURANCE AGENT BROKER EXAM SERIES
17-55 FINAL PAPER 2026 FULL 200
QUESTIONS WITH CORRECT ANSWERS
GRADED A
⩥ Accident. Answer: An unplanned, unforeseen event which occurs
suddenly and at an unspecified place. Accident Insurance - A type of
insurance that protects the insured against loss due to accidental bodily
injury.
⩥ Accidental Bodily Injury. Answer: Unplanned, unforeseen traumatic
injury to the body.
⩥ Accidental Death and Dismemberment (AD&D). Answer: An
insurance policy which pays a specified amount or a specified multiple
of the insured's benefit if the insured dies, loses his/her sight, or loses
two limbs due to an accident.
⩥ Accidental Death Benefits. Answer: A policy rider that states that the
cause of death will be analyzed to determine if it complies with the
policy description of accidental death.
,⩥ Accidental Death Insurance. Answer: An insurance policy that
provides payment if the insured's death is the result of an accident.
⩥ Accumulation Period. Answer: The time over which the annuitant
makes payments or investments in an annuity, and when those payments
earn interest tax deferred.
⩥ Acquired Immunodeficiency Syndrome (AIDS). Answer: An
infectious and incurable disease caused by the human immunodeficiency
virus (HIV).
⩥ Activities of Daily Living (ADLs). Answer: Activities individuals
must do every day such as moving about, getting dressed, eating,
bathing, etc.
⩥ Actual Cash Value (ACV). Answer: The required amount to pay
damages or for property loss, which is calculated based on the property's
current replacement value minus depreciation.
⩥ Actual Charge. Answer: The amount a physician or supplier actually
bills for a particular service or supply. Actuary - A person trained in the
technical aspects of insurance and related fields, particularly in the
mathematics of insurance; a person who, on behalf of the company,
determines the mathematical probability of loss.
,⩥ Adhesion. Answer: A contract offered on a "take-it-or-leave-it" basis
by an insurer, in which the insured's only option is to accept or reject the
contract. Any ambiguities in the contract will be settled in favor of the
insured.
⩥ Adjustable Life. Answer: Life insurance which permits changes in the
face amount, premium amount, period of protection, and the duration of
the premium payment period.
⩥ Adjuster. Answer: A representative of an insurance company who
investigates and acts on the behalf of the company to obtain agreements
for the amount of the insurance claim.
⩥ Administrator. Answer: An individual appointed by a court as a
fiduciary to settle the financial affairs and estate of a deceased person.
⩥ Admitted (Authorized) Insurer. Answer: An insurance company
authorized and licensed to transact business in a particular state.
⩥ Adult Day Care. Answer: A program for impaired adults that attempts
to meet their health, social, and functional needs in a setting away from
their homes.
, ⩥ Adverse Selection. Answer: The tendency of risks with higher
probability of loss to purchase and maintain insurance more often than
the risks who present lower probability.
⩥ Agency. Answer: An insurance sales office or company.
⩥ Agent. Answer: An individual who is licensed to sell, negotiate, or
effect insurance contracts on behalf of an insurer.
⩥ Agent's Authority. Answer: Special powers granted to an agent by his
or her agency contract. Aleatory - A contract in which participating
parties exchange unequal amounts. Insurance contracts are aleatory in
that the amount the insured will pay in premiums is unequal to the
amount the insurer will pay in the event of a loss.
⩥ Alien Insurer. Answer: An insurance company that is incorporated
outside the United States. Alzheimer's Disease - A disease that causes the
victim to become dysfunctional due to degeneration of brain cells
causing severe memory loss.
⩥ Ancillary. Answer: Additional, miscellaneous services provided by a
hospital, such as x-rays, anesthesia, and lab work, but not hospital room
and board expenses.
INSURANCE AGENT BROKER EXAM SERIES
17-55 FINAL PAPER 2026 FULL 200
QUESTIONS WITH CORRECT ANSWERS
GRADED A
⩥ Accident. Answer: An unplanned, unforeseen event which occurs
suddenly and at an unspecified place. Accident Insurance - A type of
insurance that protects the insured against loss due to accidental bodily
injury.
⩥ Accidental Bodily Injury. Answer: Unplanned, unforeseen traumatic
injury to the body.
⩥ Accidental Death and Dismemberment (AD&D). Answer: An
insurance policy which pays a specified amount or a specified multiple
of the insured's benefit if the insured dies, loses his/her sight, or loses
two limbs due to an accident.
⩥ Accidental Death Benefits. Answer: A policy rider that states that the
cause of death will be analyzed to determine if it complies with the
policy description of accidental death.
,⩥ Accidental Death Insurance. Answer: An insurance policy that
provides payment if the insured's death is the result of an accident.
⩥ Accumulation Period. Answer: The time over which the annuitant
makes payments or investments in an annuity, and when those payments
earn interest tax deferred.
⩥ Acquired Immunodeficiency Syndrome (AIDS). Answer: An
infectious and incurable disease caused by the human immunodeficiency
virus (HIV).
⩥ Activities of Daily Living (ADLs). Answer: Activities individuals
must do every day such as moving about, getting dressed, eating,
bathing, etc.
⩥ Actual Cash Value (ACV). Answer: The required amount to pay
damages or for property loss, which is calculated based on the property's
current replacement value minus depreciation.
⩥ Actual Charge. Answer: The amount a physician or supplier actually
bills for a particular service or supply. Actuary - A person trained in the
technical aspects of insurance and related fields, particularly in the
mathematics of insurance; a person who, on behalf of the company,
determines the mathematical probability of loss.
,⩥ Adhesion. Answer: A contract offered on a "take-it-or-leave-it" basis
by an insurer, in which the insured's only option is to accept or reject the
contract. Any ambiguities in the contract will be settled in favor of the
insured.
⩥ Adjustable Life. Answer: Life insurance which permits changes in the
face amount, premium amount, period of protection, and the duration of
the premium payment period.
⩥ Adjuster. Answer: A representative of an insurance company who
investigates and acts on the behalf of the company to obtain agreements
for the amount of the insurance claim.
⩥ Administrator. Answer: An individual appointed by a court as a
fiduciary to settle the financial affairs and estate of a deceased person.
⩥ Admitted (Authorized) Insurer. Answer: An insurance company
authorized and licensed to transact business in a particular state.
⩥ Adult Day Care. Answer: A program for impaired adults that attempts
to meet their health, social, and functional needs in a setting away from
their homes.
, ⩥ Adverse Selection. Answer: The tendency of risks with higher
probability of loss to purchase and maintain insurance more often than
the risks who present lower probability.
⩥ Agency. Answer: An insurance sales office or company.
⩥ Agent. Answer: An individual who is licensed to sell, negotiate, or
effect insurance contracts on behalf of an insurer.
⩥ Agent's Authority. Answer: Special powers granted to an agent by his
or her agency contract. Aleatory - A contract in which participating
parties exchange unequal amounts. Insurance contracts are aleatory in
that the amount the insured will pay in premiums is unequal to the
amount the insurer will pay in the event of a loss.
⩥ Alien Insurer. Answer: An insurance company that is incorporated
outside the United States. Alzheimer's Disease - A disease that causes the
victim to become dysfunctional due to degeneration of brain cells
causing severe memory loss.
⩥ Ancillary. Answer: Additional, miscellaneous services provided by a
hospital, such as x-rays, anesthesia, and lab work, but not hospital room
and board expenses.
