NYS LIFE, ACCIDENT, AND HEALTH INSURANCE EXAM WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+ 2025 – 2026
Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-
year mortgage in the event of the insured's death? - CORRECT ANSWER-30-year decreasing
term.
How many days notice does the ACA require insurers to give before rescinding coverage? -
CORRECT ANSWER-30
A signed good health statement may be requested by a life producer at the time of - CORRECT
ANSWER-Policy Delivery
Carol purchases a whole life policy that provides a choice of dividend options. This policy is
required to include a statement that the dividends are - CORRECT ANSWER-Not Guaranteeed
Tim is confined to a nursing home but doesn't have a terminal illness. Which life insurance rider
is designed to help pay for this type of expense? - CORRECT ANSWER-Long-term care benefit
rider
An insured is covered under a group long-term disability policy. Under this type of policy, the
definition of disability based on any occupation typically applies - CORRECT ANSWER-After two
years of disability
,Sylvia purchased an annuity for $100,000 from the proceeds of an inheritance. No further
payments are permitted and the income stream begins in 15 years. This contract is a(n) -
CORRECT ANSWER-Single premium deferred annuity
Which of these is NOT a factor that influences group health insurance underwriting? - CORRECT
ANSWER-Physical exams of group members
What is the grace period required for an individual accident and health insurance policy with
monthly premiums? - CORRECT ANSWER-10 days
In regards to technology and the ACA, which of the following statements is correct? - CORRECT
ANSWER-States which operate with an Exchange must offer an internet-based portal
Insurable interest involves what assumption? - CORRECT ANSWER-One person benefits from
another person's continued life
Which of these policies is considered a whole life policy? - CORRECT ANSWER-Single premium
life
Which of the following would be considered an unfair claims settlement practice? - CORRECT
ANSWER-Misrepresenting pertinent policy provisions relating to coverage after a loss
A policyowner is permitted to take out a policy loan on a whole life policy at what point? -
CORRECT ANSWER-When the policy has a cash value
Which of these is NOT a factor during the health insurance underwriting process? - CORRECT
ANSWER-Former residence
,New York workers compensation laws exclude benefits for disabilities caused by - CORRECT
ANSWER-Intentional, self-inflicted injuries occurring on the job
When premiums are determined, one factor would be the expenses of the - CORRECT ANSWER-
Insurer
Scott has a life insurance policy in which the dividends are left with the insurance company. This
particular policy may be paid up when the cash value plus accumulated dividends - CORRECT
ANSWER-equal the net single premium for the same face amount at the insured's attained age
During open enrollment for Medicare Supplement coverage, an applicant MUST be at least -
CORRECT ANSWER-There is no minimum age requirement
What happens to the cash value of a market value adjusted annuity if it's surrendered prior to
the end of the stated guarantee period? - CORRECT ANSWER-Subject to market value
adjustment
Which of the following contracts offer deferred taxation, flexible payments, a guaranteed
interest rate, and death benefits equal to the cash value? - CORRECT ANSWER-Flexible premium
fixed annuity
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? - CORRECT ANSWER-Her employer's group accident and health
plan
Which statement regarding the certificate of insurance is accurate? - CORRECT ANSWER-It
indicates evidence of an employee's insurance coverage
, According to the ACA, the proportion of premium revenues spent on clinical services and quality
improvements is called the - CORRECT ANSWER-Medical loss ratio
Which of the following statements regarding the Fair Credit Reporting Act is correct? - CORRECT
ANSWER-If credit, insurance, or employment was denied because of an unfavorable report, the
consumer must be advised
According to the ACA, insurers can no longer deny health coverage due to pre-exsisting
conditions unless that plan is a - CORRECT ANSWER-Grandfathered plan
Which item must be considered by an agent when determining the suitability of an annuity
recommendation? - CORRECT ANSWER-The client's financial status
An applicant submits a life insurance application where an investigative consumer report is used
in the underwriting process. Which of these statements is true? - CORRECT ANSWER-Applicant
has a right to receive a copy of the report
If group Health benefit levels are too high, what could be the end result? - CORRECT ANSWER-
Overutilization of the plan
A life insurance producer licensed in New York is authorized to - CORRECT ANSWER-Solicit,
receive and forward applications to the insurer
A group-owned insurance company that is formed to assume and spread the liability risks of its
members is known as a - CORRECT ANSWER-Risk retention group
Any employee insured under a group life insurance plan is normally - CORRECT ANSWER-
Covered with term life insurance
ACTUAL QUESTIONS AND CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+ 2025 – 2026
Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-
year mortgage in the event of the insured's death? - CORRECT ANSWER-30-year decreasing
term.
How many days notice does the ACA require insurers to give before rescinding coverage? -
CORRECT ANSWER-30
A signed good health statement may be requested by a life producer at the time of - CORRECT
ANSWER-Policy Delivery
Carol purchases a whole life policy that provides a choice of dividend options. This policy is
required to include a statement that the dividends are - CORRECT ANSWER-Not Guaranteeed
Tim is confined to a nursing home but doesn't have a terminal illness. Which life insurance rider
is designed to help pay for this type of expense? - CORRECT ANSWER-Long-term care benefit
rider
An insured is covered under a group long-term disability policy. Under this type of policy, the
definition of disability based on any occupation typically applies - CORRECT ANSWER-After two
years of disability
,Sylvia purchased an annuity for $100,000 from the proceeds of an inheritance. No further
payments are permitted and the income stream begins in 15 years. This contract is a(n) -
CORRECT ANSWER-Single premium deferred annuity
Which of these is NOT a factor that influences group health insurance underwriting? - CORRECT
ANSWER-Physical exams of group members
What is the grace period required for an individual accident and health insurance policy with
monthly premiums? - CORRECT ANSWER-10 days
In regards to technology and the ACA, which of the following statements is correct? - CORRECT
ANSWER-States which operate with an Exchange must offer an internet-based portal
Insurable interest involves what assumption? - CORRECT ANSWER-One person benefits from
another person's continued life
Which of these policies is considered a whole life policy? - CORRECT ANSWER-Single premium
life
Which of the following would be considered an unfair claims settlement practice? - CORRECT
ANSWER-Misrepresenting pertinent policy provisions relating to coverage after a loss
A policyowner is permitted to take out a policy loan on a whole life policy at what point? -
CORRECT ANSWER-When the policy has a cash value
Which of these is NOT a factor during the health insurance underwriting process? - CORRECT
ANSWER-Former residence
,New York workers compensation laws exclude benefits for disabilities caused by - CORRECT
ANSWER-Intentional, self-inflicted injuries occurring on the job
When premiums are determined, one factor would be the expenses of the - CORRECT ANSWER-
Insurer
Scott has a life insurance policy in which the dividends are left with the insurance company. This
particular policy may be paid up when the cash value plus accumulated dividends - CORRECT
ANSWER-equal the net single premium for the same face amount at the insured's attained age
During open enrollment for Medicare Supplement coverage, an applicant MUST be at least -
CORRECT ANSWER-There is no minimum age requirement
What happens to the cash value of a market value adjusted annuity if it's surrendered prior to
the end of the stated guarantee period? - CORRECT ANSWER-Subject to market value
adjustment
Which of the following contracts offer deferred taxation, flexible payments, a guaranteed
interest rate, and death benefits equal to the cash value? - CORRECT ANSWER-Flexible premium
fixed annuity
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? - CORRECT ANSWER-Her employer's group accident and health
plan
Which statement regarding the certificate of insurance is accurate? - CORRECT ANSWER-It
indicates evidence of an employee's insurance coverage
, According to the ACA, the proportion of premium revenues spent on clinical services and quality
improvements is called the - CORRECT ANSWER-Medical loss ratio
Which of the following statements regarding the Fair Credit Reporting Act is correct? - CORRECT
ANSWER-If credit, insurance, or employment was denied because of an unfavorable report, the
consumer must be advised
According to the ACA, insurers can no longer deny health coverage due to pre-exsisting
conditions unless that plan is a - CORRECT ANSWER-Grandfathered plan
Which item must be considered by an agent when determining the suitability of an annuity
recommendation? - CORRECT ANSWER-The client's financial status
An applicant submits a life insurance application where an investigative consumer report is used
in the underwriting process. Which of these statements is true? - CORRECT ANSWER-Applicant
has a right to receive a copy of the report
If group Health benefit levels are too high, what could be the end result? - CORRECT ANSWER-
Overutilization of the plan
A life insurance producer licensed in New York is authorized to - CORRECT ANSWER-Solicit,
receive and forward applications to the insurer
A group-owned insurance company that is formed to assume and spread the liability risks of its
members is known as a - CORRECT ANSWER-Risk retention group
Any employee insured under a group life insurance plan is normally - CORRECT ANSWER-
Covered with term life insurance
