PSI – New York Life, Accident & Health
Practice Exam Bank – Complete Practice
Questions with Verified Answers &
Explanations – Updated 2025/2026 NY
Insurance Licensing Prep
Description:
Ace the PSI New York Life, Accident & Health
Insurance licensing exam with this comprehensive
practice exam bank, featuring 100% verified questions
and detailed explanations. Covers NY insurance laws,
life policies, accident & health coverage, annuities,
underwriting, claims, and ethics. Fully updated for the
2025/2026 licensing cycle, ideal for candidates preparing
for the NY Department of Financial Services exam.
, PSI - NY Life Series 17-55, Accident and
Health Practice Exam Bank
Which policy provision permits the policy owner to take a specified number of
days to examine the contract, and allows for cancellation and a full refund if the
policy owner rejects the terms or costs?
Free Look
When will a policy pay on a UCR basis?
When particular benefits are not listed on a payment schedule
Which type of rider reimburses health and social service expenses incurred in a
convalescent or nursing home facility?
long term care rider
Which of the following is exempted from the incontestability provision in
insurance policies?
Fraudulent misstatements
,What does first dollar coverage mean?
As soon as covered medical expenses are incurred, the policy begins to pay
What is the waiver of premium provision?
In a long term care contract, the premium is waived after the insured has been
confined for a specific period of time
According to the Time Payment of Claims provision, the insurer must make the
payment immediately after receiving proof of loss EXCEPT
for claims involving periodic payments
Which is a disadvantage to a flexible premium annuity?
the actual amount of the annuity benefit cannot be determined in advance
, When a policy or certificate containing an accelerated benefit provision is applied
for or delivered, the producer is responsible for providing that applicant a
summary of coverage that includes all of the following EXCEPT
a detailed and comprehensive summary of the accelerated benefit
which one of the following represents an advantage of obtaining a policy loan
versus a withdrawal?
the loan is not taxed while a withdrawal is taxed for amounts above the contract
cost basis
How does a noncancelable policy differ from a guaranteed renewable policy?
with the non cancelable policy the insurer may increase premiums only based on
the terms of the policy
What does it mean if a health policy is conditionally renewable?
Insurer may elect NOT to renew only under the conditions specified in the policy
Practice Exam Bank – Complete Practice
Questions with Verified Answers &
Explanations – Updated 2025/2026 NY
Insurance Licensing Prep
Description:
Ace the PSI New York Life, Accident & Health
Insurance licensing exam with this comprehensive
practice exam bank, featuring 100% verified questions
and detailed explanations. Covers NY insurance laws,
life policies, accident & health coverage, annuities,
underwriting, claims, and ethics. Fully updated for the
2025/2026 licensing cycle, ideal for candidates preparing
for the NY Department of Financial Services exam.
, PSI - NY Life Series 17-55, Accident and
Health Practice Exam Bank
Which policy provision permits the policy owner to take a specified number of
days to examine the contract, and allows for cancellation and a full refund if the
policy owner rejects the terms or costs?
Free Look
When will a policy pay on a UCR basis?
When particular benefits are not listed on a payment schedule
Which type of rider reimburses health and social service expenses incurred in a
convalescent or nursing home facility?
long term care rider
Which of the following is exempted from the incontestability provision in
insurance policies?
Fraudulent misstatements
,What does first dollar coverage mean?
As soon as covered medical expenses are incurred, the policy begins to pay
What is the waiver of premium provision?
In a long term care contract, the premium is waived after the insured has been
confined for a specific period of time
According to the Time Payment of Claims provision, the insurer must make the
payment immediately after receiving proof of loss EXCEPT
for claims involving periodic payments
Which is a disadvantage to a flexible premium annuity?
the actual amount of the annuity benefit cannot be determined in advance
, When a policy or certificate containing an accelerated benefit provision is applied
for or delivered, the producer is responsible for providing that applicant a
summary of coverage that includes all of the following EXCEPT
a detailed and comprehensive summary of the accelerated benefit
which one of the following represents an advantage of obtaining a policy loan
versus a withdrawal?
the loan is not taxed while a withdrawal is taxed for amounts above the contract
cost basis
How does a noncancelable policy differ from a guaranteed renewable policy?
with the non cancelable policy the insurer may increase premiums only based on
the terms of the policy
What does it mean if a health policy is conditionally renewable?
Insurer may elect NOT to renew only under the conditions specified in the policy
