NEW YORK LIFE, ACCIDENT AND HEALTH INSURANCE EXAM 2024 According to the Affordable Care Act, any plan in existence prior to which date is considered a grandfathered plan? - correct answer ✔✔ March 23, 2010
Which of these factors help determine an insured's life insurance premium? - correct answer ✔✔ avocation (hobby)
Long-Term Care policies may provide coverage for claims arising from - correct answer ✔✔ senile dementia
When replacing a life insurance policy, an agent must provide the applicant with a - correct answer ✔✔ Notice Regarding Replacement
All of the following are considered appropriate uses of life insurance for business purposes EXCEPT - correct answer✔✔ Protecting the business by covering entry level employees with life insurance
All of these are characteristics of a major medical expense policy EXCEPT - correct answer ✔✔ elimination periods
A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n) - correct answer ✔✔ association or labor group
An insurance company that has qualified and received a Certificate of Authority from the Superintendent to sell insurance in this state is called a(n) - correct answer ✔✔ admitted insurer
In New York, an agent may have his/her license revoked for which of the following acts? - correct answer✔✔ Failure to pay state income tax As classified by the Affordable Care Act (ACA), a Silver Plan offers - correct answer ✔✔ 70% actuarial level of coverage provided
What are levels of coverage as defined by the Affordable Care Act? - correct answer ✔✔ Bronze, Silver, Gold, Platinum
Insurance agent Kelly offers a prospect a $1,000 shopping card if an insurance policy is purchased through her. What illegal activity is this an example of? - correct answer ✔✔ Rebating
Low frequency diseases can be exclusively covered by what kind of health insurance policies? - correct answer✔✔ Limited policies
The identity of the ___ must be made clear in every health insurance advertisement. - correct answer✔✔ insurer
The open enrollment period for Medicare Supplements begins at age - correct answer ✔✔ 65
What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)? - correct answer✔✔ Dread disease insurance
Insurance represents the process of risk - correct answer ✔✔ transference
An insurer has a right to screen applicants for HIV in which of the following ways? - correct answer ✔✔ Blood test for HIV
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? - correct
answer✔✔ File written proof of loss
When an agent is determining the suitability of an annuity for a client, which of these is NOT usually taken into consideration? - correct answer ✔✔ number of dependents
Which of these factors help determine an insured's life insurance premium? - correct answer ✔✔ avocation (hobby)
Long-Term Care policies may provide coverage for claims arising from - correct answer ✔✔ senile dementia
When replacing a life insurance policy, an agent must provide the applicant with a - correct answer ✔✔ Notice Regarding Replacement
All of the following are considered appropriate uses of life insurance for business purposes EXCEPT - correct answer✔✔ Protecting the business by covering entry level employees with life insurance
All of these are characteristics of a major medical expense policy EXCEPT - correct answer ✔✔ elimination periods
A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n) - correct answer ✔✔ association or labor group
An insurance company that has qualified and received a Certificate of Authority from the Superintendent to sell insurance in this state is called a(n) - correct answer ✔✔ admitted insurer
In New York, an agent may have his/her license revoked for which of the following acts? - correct answer✔✔ Failure to pay state income tax As classified by the Affordable Care Act (ACA), a Silver Plan offers - correct answer ✔✔ 70% actuarial level of coverage provided
What are levels of coverage as defined by the Affordable Care Act? - correct answer ✔✔ Bronze, Silver, Gold, Platinum
Insurance agent Kelly offers a prospect a $1,000 shopping card if an insurance policy is purchased through her. What illegal activity is this an example of? - correct answer ✔✔ Rebating
Low frequency diseases can be exclusively covered by what kind of health insurance policies? - correct answer✔✔ Limited policies
The identity of the ___ must be made clear in every health insurance advertisement. - correct answer✔✔ insurer
The open enrollment period for Medicare Supplements begins at age - correct answer ✔✔ 65
What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)? - correct answer✔✔ Dread disease insurance
Insurance represents the process of risk - correct answer ✔✔ transference
An insurer has a right to screen applicants for HIV in which of the following ways? - correct answer ✔✔ Blood test for HIV
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? - correct
answer✔✔ File written proof of loss
When an agent is determining the suitability of an annuity for a client, which of these is NOT usually taken into consideration? - correct answer ✔✔ number of dependents
