NY LIFE INSURANCE EXAM SCRIPT 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ point of service plan. Answer: A patient's care is coordinated by an in-
network primary care physician.
◉ What is the major reason that insurance regulators are often critical of
dread disease insurance policies? Answer: Buyers often think they are
getting broader coverage than they actually purchase.
◉ Which is a primary difference between individual and group health
insurance? Answer: Individual insurance requires evidence of
insurability.
◉ Which type of coverage pays the operating costs of a small business
when the owner becomes disabled? Answer: Business overhead expense
disability insurance
◉ Which of the following is considered the major advantage of HIPAA?
Answer: portability
◉ Which plan is most commonly paired with a High Deductible Health
Plan? Answer: Health Savings Account (HSA)
,◉ Which of the following is the most common method to supplement
Medicare coverage? Answer: Coverage offered by private insurers
◉ Which of the following is a characteristic of Preferred Provider
Organizations (PPOs)? Answer: prearranged costs for services rendered
◉ A group conversion option may be used in all the following instances
EXCEPT. Answer: a life-changing event, such as marriage, divorce, or
childbirth.
◉ Which of the following, by definition, provides benefits for expenses
incurred as a result of in-hospital medical treatment and surgery as well
as certain outpatient expenses such as doctor's visits, laboratory tests,
and diagnostic services? Answer: hospitalization insurance
◉ 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
◉ In which type of insurance is individually purchased coverage
commonly more economical than group offered coverage? Answer:
Long term care insurance
, ◉ Which of the following is the time limit on certain defenses after
which the policy becomes incontestable? Answer: : 2 years
◉ What is the waiver of premium provision? Answer: In a long term
care contract, the premium is waived after the insured has been confined
for a specific period of time.
◉ What is the difference between copayment and coinsurance? Answer:
A copayment is a set dollar amount, while coinsurance is set as a
percentage.
◉ How do most disability policies handle the case of a recurrent
disability occurring at least 90 days after the first claim? Answer: it must
be handled as a new claim for a new period of disability, requiring a new
elimination period.
◉ In which of the following must a beneficiary change request be filed
in writing to the insurer and is made effective by the insurance company
recording the change in its records? Answer: recording method
◉ Which of the following must be given to the insurer within 20 days
after occurrence or commencement of any loss covered by the policy, or
as soon thereafter as is reasonably possible? Answer: notice of claim
QUESTIONS WITH ANSWERS GRADED A+
◉ point of service plan. Answer: A patient's care is coordinated by an in-
network primary care physician.
◉ What is the major reason that insurance regulators are often critical of
dread disease insurance policies? Answer: Buyers often think they are
getting broader coverage than they actually purchase.
◉ Which is a primary difference between individual and group health
insurance? Answer: Individual insurance requires evidence of
insurability.
◉ Which type of coverage pays the operating costs of a small business
when the owner becomes disabled? Answer: Business overhead expense
disability insurance
◉ Which of the following is considered the major advantage of HIPAA?
Answer: portability
◉ Which plan is most commonly paired with a High Deductible Health
Plan? Answer: Health Savings Account (HSA)
,◉ Which of the following is the most common method to supplement
Medicare coverage? Answer: Coverage offered by private insurers
◉ Which of the following is a characteristic of Preferred Provider
Organizations (PPOs)? Answer: prearranged costs for services rendered
◉ A group conversion option may be used in all the following instances
EXCEPT. Answer: a life-changing event, such as marriage, divorce, or
childbirth.
◉ Which of the following, by definition, provides benefits for expenses
incurred as a result of in-hospital medical treatment and surgery as well
as certain outpatient expenses such as doctor's visits, laboratory tests,
and diagnostic services? Answer: hospitalization insurance
◉ 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
◉ In which type of insurance is individually purchased coverage
commonly more economical than group offered coverage? Answer:
Long term care insurance
, ◉ Which of the following is the time limit on certain defenses after
which the policy becomes incontestable? Answer: : 2 years
◉ What is the waiver of premium provision? Answer: In a long term
care contract, the premium is waived after the insured has been confined
for a specific period of time.
◉ What is the difference between copayment and coinsurance? Answer:
A copayment is a set dollar amount, while coinsurance is set as a
percentage.
◉ How do most disability policies handle the case of a recurrent
disability occurring at least 90 days after the first claim? Answer: it must
be handled as a new claim for a new period of disability, requiring a new
elimination period.
◉ In which of the following must a beneficiary change request be filed
in writing to the insurer and is made effective by the insurance company
recording the change in its records? Answer: recording method
◉ Which of the following must be given to the insurer within 20 days
after occurrence or commencement of any loss covered by the policy, or
as soon thereafter as is reasonably possible? Answer: notice of claim
