NYS rules and regulations pertinent to
life insurance Test Questions and Actual
Answers 2026/2027 Updated.
In regards to technology and the ACA, which of the following is true? - Answer States which
operate with an exchange must offer an internet-based portal
the time after issuing a policy during which an insurance company my contest a life insurance
claim due to the statements on an application is - Answer 2 years
In New York, a group accident and health certificate of insurance must contain - Answer a
summary of policy features and benefits
Starting in 2016, businesses with up to ___ employees will be defined by the ACA as a "small
business". - Answer 100
accident and health insurance standard provision require that - Answer the policy,
endorsement, and attached papers constitute the entire contract
when initially issued, a temporary producer license in NY is valid for - Answer 90 days
which of the following information is NOT needed to determine the suitability of an annuity
recommendation? - Answer level of education
which of these is NOT considered a Federal punishment for unfair and deceptive insurance
practices? - Answer community service
an association which maintains a facility that displays offers and counteroffers for purchasers or
sellers of life settlement contract is known as a - Answer life settlement intermediary
in regards to ACA , which of these is NOT a role of a health insurance exchange - Answer
contact the employer is an employee stops coverage under a plan offered in the exchange
ACA - Answer affordable care act
a policyowner has decided to replace an existing life insurance policy with a new one. The
existing life insurance policy should be terminated - Answer after the new life insurance policy
has been issued and delivered to the policyowner
,In New York, reducing benefits for a newborn child under an accident and health plan is -
Answer prohibited in any form
According to ACA, coverage may be recinded - Answer if intentionally false statements were
offered
Tom the agent replaced a client's insurance policy when it was not in the client's best interest.
Tom could be found guilty of - Answer twisting
the application is part of an annuity contract according to which of the following clauses
(required accident and health provision) - Answer entire contract
the superintendent has the ability to examine the business records of insurers and agencies
because - Answer of the powers granted through state statutes
an agent must report to the superintendent any administrative action taken against her by any
governmental agency within - Answer 30 days
According to the ACA, new health insurance marketplaces are established by the - Answer
CCIIO
Uniform policy provisions found in all accident and health policies require that - Answer the
policy, endorsement and attached papers constitute the entire contract (a required provision)
which of the following statements about the contestability of life insurance policy is true? -
Answer policy can be contested by the insurer only during the firsts 2 years of the contract
a small employer group is an employer that employs how many? - Answer 2-50 employees
According to ACA, the proportion of premium revenues spent on clinical services and quality
improvement is called the - Answer medical loss ratio
when a similarly appointed agent provides another agent with a referral, which results in a sale,
the commissions paid are generally - Answer shared between the agents
what does "SHOP" stand for in SHOP exchange - Answer Small Business Health Options
Program
,why were Exchanges implemented by the ACA? - Answer to create a one-stop market for
standardized health insurance plans
New York requires advertisements for accident and health insurance policies covering ONLY a
specified illness to prominently display - Answer a statement that the policy is limited
an individual in NY who charges a fee for giving advise on an insurance policy must be licensed
as a consultant if the advice is given to - Answer the policyholder
why does NY law require an insurance agent to examine the existing Medicare Supplement
policies of a prospective insured? - Answer to determine the suitability of potential changes
NY law requires the Human Immunodeficiency Virus (HIV) consent form to - Answer Disclose
the types of individuals or organizations that may receive a copy of the test results
Which of these is NOT considered a preventative service in a dental plan? - Answer Fillings
During a stated initial peroid of coverage, long-term care insurance policies normally EXCLUDE
conditions that - Answer were treated during a specified period preceding the policy date
when determining the suitability of an annuity for a consumer, the insurance provider is
obligated to - Answer make reasonable efforts to fit the annuity with the consumer's needs
Carol purchases a whole life policy that provides a choice of dividend options. The policy is
required to include a statement that the dividends are - Answer not guaranteed
Under the New York Disability Benefits Law, cash payments are provided to workers who are
unable to work because of injury or illness that - Answer occurred on the job
The amount received for a life insurance policy in a life settlement is than the death benefit -
Answer less
In New York, who is primarily responsible for determining the appropriateness of a Medicare
Supplement policy for a proposed insured? - Answer the agent who solicits the application
The grace period for a life insurance policy with an annual premium is usually - Answer 31 days
An insurance company willingly published false information in an insurance policy
advertisement. This is an example of - Answer misrepresentation
, a temporary license is good for up to - Answer 90 days
A policyowner and a life settlement provider can have a life settlement negotiated through an -
Answer life settlement broker
Pete the agent made public statments that falsely portrated Acme Insurance Company as
avoiding claim payments. Pete may be found guilty of - Answer defamation
Which entity regulated an insurer's claim settlement practices? - Answer State insurance
departments
Who signs the notice of replacement when a Medicare Supplement policy is being replaced? -
Answer the agent of the applicant
What is the actuarial value of a bronze level health plan - Answer 60
If a group endorses an accident and health insurance product in an advertisement, the public
must be made aware of - Answer any control by the insurer over the group
The superintendent may not revoke an insurance producer's license unless - Answer the
producer has been properly notices and given an opportunity for a hearing
When an illustration is used in the sales of a life insurance policy, the illustration MUST contain a
statement signed by the - Answer agent
Which of these situations would NOT potentially involve a prison sentence under Federal Law? -
Answer Selling insurance with a nonresident license
Who must sign a rider attached to a health insurance policy in order for it to be valid - Answer
insured and the agent
If an agent would like to start using an assumed name, at what point must the superintendent
be notified? - Answer before using the assumed name
Cease a desist order- engaging in unfair methods or deceptive practices is entitled to a hearing
and must be notified within - Answer 10 days
life insurance Test Questions and Actual
Answers 2026/2027 Updated.
In regards to technology and the ACA, which of the following is true? - Answer States which
operate with an exchange must offer an internet-based portal
the time after issuing a policy during which an insurance company my contest a life insurance
claim due to the statements on an application is - Answer 2 years
In New York, a group accident and health certificate of insurance must contain - Answer a
summary of policy features and benefits
Starting in 2016, businesses with up to ___ employees will be defined by the ACA as a "small
business". - Answer 100
accident and health insurance standard provision require that - Answer the policy,
endorsement, and attached papers constitute the entire contract
when initially issued, a temporary producer license in NY is valid for - Answer 90 days
which of the following information is NOT needed to determine the suitability of an annuity
recommendation? - Answer level of education
which of these is NOT considered a Federal punishment for unfair and deceptive insurance
practices? - Answer community service
an association which maintains a facility that displays offers and counteroffers for purchasers or
sellers of life settlement contract is known as a - Answer life settlement intermediary
in regards to ACA , which of these is NOT a role of a health insurance exchange - Answer
contact the employer is an employee stops coverage under a plan offered in the exchange
ACA - Answer affordable care act
a policyowner has decided to replace an existing life insurance policy with a new one. The
existing life insurance policy should be terminated - Answer after the new life insurance policy
has been issued and delivered to the policyowner
,In New York, reducing benefits for a newborn child under an accident and health plan is -
Answer prohibited in any form
According to ACA, coverage may be recinded - Answer if intentionally false statements were
offered
Tom the agent replaced a client's insurance policy when it was not in the client's best interest.
Tom could be found guilty of - Answer twisting
the application is part of an annuity contract according to which of the following clauses
(required accident and health provision) - Answer entire contract
the superintendent has the ability to examine the business records of insurers and agencies
because - Answer of the powers granted through state statutes
an agent must report to the superintendent any administrative action taken against her by any
governmental agency within - Answer 30 days
According to the ACA, new health insurance marketplaces are established by the - Answer
CCIIO
Uniform policy provisions found in all accident and health policies require that - Answer the
policy, endorsement and attached papers constitute the entire contract (a required provision)
which of the following statements about the contestability of life insurance policy is true? -
Answer policy can be contested by the insurer only during the firsts 2 years of the contract
a small employer group is an employer that employs how many? - Answer 2-50 employees
According to ACA, the proportion of premium revenues spent on clinical services and quality
improvement is called the - Answer medical loss ratio
when a similarly appointed agent provides another agent with a referral, which results in a sale,
the commissions paid are generally - Answer shared between the agents
what does "SHOP" stand for in SHOP exchange - Answer Small Business Health Options
Program
,why were Exchanges implemented by the ACA? - Answer to create a one-stop market for
standardized health insurance plans
New York requires advertisements for accident and health insurance policies covering ONLY a
specified illness to prominently display - Answer a statement that the policy is limited
an individual in NY who charges a fee for giving advise on an insurance policy must be licensed
as a consultant if the advice is given to - Answer the policyholder
why does NY law require an insurance agent to examine the existing Medicare Supplement
policies of a prospective insured? - Answer to determine the suitability of potential changes
NY law requires the Human Immunodeficiency Virus (HIV) consent form to - Answer Disclose
the types of individuals or organizations that may receive a copy of the test results
Which of these is NOT considered a preventative service in a dental plan? - Answer Fillings
During a stated initial peroid of coverage, long-term care insurance policies normally EXCLUDE
conditions that - Answer were treated during a specified period preceding the policy date
when determining the suitability of an annuity for a consumer, the insurance provider is
obligated to - Answer make reasonable efforts to fit the annuity with the consumer's needs
Carol purchases a whole life policy that provides a choice of dividend options. The policy is
required to include a statement that the dividends are - Answer not guaranteed
Under the New York Disability Benefits Law, cash payments are provided to workers who are
unable to work because of injury or illness that - Answer occurred on the job
The amount received for a life insurance policy in a life settlement is than the death benefit -
Answer less
In New York, who is primarily responsible for determining the appropriateness of a Medicare
Supplement policy for a proposed insured? - Answer the agent who solicits the application
The grace period for a life insurance policy with an annual premium is usually - Answer 31 days
An insurance company willingly published false information in an insurance policy
advertisement. This is an example of - Answer misrepresentation
, a temporary license is good for up to - Answer 90 days
A policyowner and a life settlement provider can have a life settlement negotiated through an -
Answer life settlement broker
Pete the agent made public statments that falsely portrated Acme Insurance Company as
avoiding claim payments. Pete may be found guilty of - Answer defamation
Which entity regulated an insurer's claim settlement practices? - Answer State insurance
departments
Who signs the notice of replacement when a Medicare Supplement policy is being replaced? -
Answer the agent of the applicant
What is the actuarial value of a bronze level health plan - Answer 60
If a group endorses an accident and health insurance product in an advertisement, the public
must be made aware of - Answer any control by the insurer over the group
The superintendent may not revoke an insurance producer's license unless - Answer the
producer has been properly notices and given an opportunity for a hearing
When an illustration is used in the sales of a life insurance policy, the illustration MUST contain a
statement signed by the - Answer agent
Which of these situations would NOT potentially involve a prison sentence under Federal Law? -
Answer Selling insurance with a nonresident license
Who must sign a rider attached to a health insurance policy in order for it to be valid - Answer
insured and the agent
If an agent would like to start using an assumed name, at what point must the superintendent
be notified? - Answer before using the assumed name
Cease a desist order- engaging in unfair methods or deceptive practices is entitled to a hearing
and must be notified within - Answer 10 days
