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XCEL NY-LIFE & HEALTH EXAM SIMULATOR 2026/2027
QUESTIONS WITH DETAILED VERIFIED ANSWERS / EXAM
QUESTIONS AND VERIFIED ANSWERS |ALREADY GRADED
A+|
Which type of life insurance policy pays the face amount at the
end of the specified period if the insured is still alive? - ANSWER-
Endowment policy
Upon meeting company requirements, a lapsed life insurance
policy may be reinstated within ____ year(s). - ANSWER-3
Continued coverage under COBRA would be provided to all of the
following EXCEPT: - ANSWER-a covered employee who is
terminated for gross misconduct
The type of policy where the insurer can send a notice to the
insured that the policy has been cancelled in the middle of the
term is called - ANSWER-cancelable
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In an employer-sponsored group accident and health plan, a
master contract is issued to the - ANSWER-employer
An insurer has a right to screen applicants for HIV in which of the
following ways? - ANSWER-Blood test for HIV
New York Disability Benefit Law provides cash payments to
workers unable to work because of - ANSWER-injury or illness
that occurred on the job.
Which of the following is NOT a duty of the Superintendent? -
ANSWER-Establish rates for insurers
As of January 1, 2014, an employer with up to 25 full time
equivalent (FTE's) with average annual wages of less than
$50,000 may be eligible for a tax credit of ___ of the premiums
paid by the employer. - ANSWER-50%
Every agent licensed in New York must notify the Superintendent
within ____ days of any change in address. - ANSWER-30
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Simon has purchased a fixed immediate annuity. His payment
amount will be dependent upon principal, interest, and the
contract's - ANSWER-income period.
A tax-free Section 1035 Exchange of a life insurance policy to a
different policy is permitted if it occurs - ANSWER-from insurer to
insurer and no cash is received by the policyowner
The waiting period for a disability insurance policy - ANSWER-
excludes payments for a short-term illness or injury
Which of the following is required for the renewal of an agent's
insurance license? - ANSWER-Continuing education
Which of the following is a requirement for ANY change in an
insurance application? - ANSWER-Change must be initialed by
the applicant
XCEL NY-LIFE & HEALTH EXAM SIMULATOR 2026/2027
QUESTIONS WITH DETAILED VERIFIED ANSWERS / EXAM
QUESTIONS AND VERIFIED ANSWERS |ALREADY GRADED
A+|
Which type of life insurance policy pays the face amount at the
end of the specified period if the insured is still alive? - ANSWER-
Endowment policy
Upon meeting company requirements, a lapsed life insurance
policy may be reinstated within ____ year(s). - ANSWER-3
Continued coverage under COBRA would be provided to all of the
following EXCEPT: - ANSWER-a covered employee who is
terminated for gross misconduct
The type of policy where the insurer can send a notice to the
insured that the policy has been cancelled in the middle of the
term is called - ANSWER-cancelable
, Page |2
In an employer-sponsored group accident and health plan, a
master contract is issued to the - ANSWER-employer
An insurer has a right to screen applicants for HIV in which of the
following ways? - ANSWER-Blood test for HIV
New York Disability Benefit Law provides cash payments to
workers unable to work because of - ANSWER-injury or illness
that occurred on the job.
Which of the following is NOT a duty of the Superintendent? -
ANSWER-Establish rates for insurers
As of January 1, 2014, an employer with up to 25 full time
equivalent (FTE's) with average annual wages of less than
$50,000 may be eligible for a tax credit of ___ of the premiums
paid by the employer. - ANSWER-50%
Every agent licensed in New York must notify the Superintendent
within ____ days of any change in address. - ANSWER-30
, Page |3
Simon has purchased a fixed immediate annuity. His payment
amount will be dependent upon principal, interest, and the
contract's - ANSWER-income period.
A tax-free Section 1035 Exchange of a life insurance policy to a
different policy is permitted if it occurs - ANSWER-from insurer to
insurer and no cash is received by the policyowner
The waiting period for a disability insurance policy - ANSWER-
excludes payments for a short-term illness or injury
Which of the following is required for the renewal of an agent's
insurance license? - ANSWER-Continuing education
Which of the following is a requirement for ANY change in an
insurance application? - ANSWER-Change must be initialed by
the applicant
