.//.//.,…//////////./././././.;;;../.;.//;./.;./;.;.;/
NY Series 17-55 Life, Accident & Health Insurance Exam
2026/2027 Latest Edition | Comprehensive Study Guide |
Practice Questions & Detailed Answer Explanations | New York
Insurance License Exam Prep
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
NY Series 17-55 Life, Accident & Health Insurance Exam
2026/2027 Latest Edition | Comprehensive Study Guide |
Practice Questions & Detailed Answer Explanations | New York
Insurance License Exam Prep
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
