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Exam (elaborations)

Nys Life, Accident, And Health Insurance Exam Questions With Complete Answers

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NYS LIFE, ACCIDENT, AND HEALTH INSURANCE EXAM QUESTIONS WITH COMPLETE ANSWERS

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In regards to the ACA, which of these is NOT a role of a health insurance exchange?


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Contact the employer if an employee stops coverage under a plan offered
in the exchange




What would be the disadvantage of naming a trust as a beneficiary of a life insurance
policy?


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Trust administration fees would reduce policy proceeds

,Tonya has been diagnosed with kidney failure and has group accident and health
insurance through her large employer. Which of these accident and health plans will
be primary during the months following her diagnosis?


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Her employer's group accident and health plan




Pointing out to a prospective client that the life insurance policy you are presenting is
covered by the New York Life and Health Insurance Guaranty Association is


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Prohibited by law




Larry has a Major Medical Expense policy for his family with a $1,000 per family/per
year deductible and an 80/20 coinsurance provision. If Larry's family files four claims
of $400, $800, $100, and $700 in one year, how much will the insurance company
pay?


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$800




Under a long-term care inflation rider, the benefit levels


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, Periodically increase without proof of insurability




New York requires advertisements for accident and health insurance policies covering
ONLY a specified illness to prominently display


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A statement that the policy is limited




What is the maximum number employees (earning at least $5,000) that an employer
can have in order to start a SIMPLE retirement plan?


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100




When an annuity contract has been surrendered, how will the surrender charges
affect the final contract settlement?


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Final contract settlement will be reduced




A small employer group is an employer that employs how many?


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, 2-50 employees




An association which maintains a facility that displays offers and counteroffers for
purchasers or sellers of life settlement contracts is known as a


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Life settlement intermediary




A copy of all Medicare Supplement advertisements must be submitted for approval to


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The Superintendent of Insurance




An insured has a $25,000 whole life insurance policy with $6,000 cash value available.
Under the extended term nonforfeiture option, what is the amount of insurance
available to the insured?


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$25,000




A group-owned insurance company that is formed to assume and spread the liability
risks of its members is known as a

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