NY LIFE ACCIDENT AND HEALTH
INSURANCE AGENT BROKER EXAM SERIES
17-55 EXAM SCRIPT 2026 COMPREHENSIVE
200 QUESTIONS WITH SOLUTIONS
GRADED A
⩥ Life with Period Certain. Answer: Lifetime income, plus guaranteed
payments if they die early
⩥ Life with refund. Answer: Lifetime income, and full original value
guaranteed to be paid out
⩥ Joint and Survivor. Answer: Income for two people; payments
continue for surviving spouse/partner
⩥ Joint Life. Answer: Income only while both are alive; stops after first
death
⩥ Annuity Certain. Answer: Income for a set time or dollar amount —
not tied to life span
, ⩥ Straight Life Income Only. Answer: Guarantees lifetime income for
one person; if they die early, the insurance company keeps the remaining
balance
⩥ Life Income with Refund. Answer: Pays lifetime income; if the
recipient dies before receiving the full death benefit, the remaining
amount is refunded to a beneficiary.
⩥ Life Income with Period Certain. Answer: Guarantees lifetime
payments or payments for a set time, whichever is longer; if the recipient
dies early, a named beneficiary receives the remaining payments.
⩥ Joint Life Income. Answer: Provides income for two individuals but
stops after the first person dies.
⩥ Joint and Survivor Income. Answer: Pays income to two individuals
for life; after one dies, the survivor continues receiving payments.
⩥ Insuring Clause. Answer: Insurer's promise to pay death benefit;
found on the first page
⩥ Collateral assignment. Answer: Temporary transfer used to secure a
loan; lender is paid first if death occurs
⩥ Absolute Assignment. Answer: Permanent transfer of ownership
INSURANCE AGENT BROKER EXAM SERIES
17-55 EXAM SCRIPT 2026 COMPREHENSIVE
200 QUESTIONS WITH SOLUTIONS
GRADED A
⩥ Life with Period Certain. Answer: Lifetime income, plus guaranteed
payments if they die early
⩥ Life with refund. Answer: Lifetime income, and full original value
guaranteed to be paid out
⩥ Joint and Survivor. Answer: Income for two people; payments
continue for surviving spouse/partner
⩥ Joint Life. Answer: Income only while both are alive; stops after first
death
⩥ Annuity Certain. Answer: Income for a set time or dollar amount —
not tied to life span
, ⩥ Straight Life Income Only. Answer: Guarantees lifetime income for
one person; if they die early, the insurance company keeps the remaining
balance
⩥ Life Income with Refund. Answer: Pays lifetime income; if the
recipient dies before receiving the full death benefit, the remaining
amount is refunded to a beneficiary.
⩥ Life Income with Period Certain. Answer: Guarantees lifetime
payments or payments for a set time, whichever is longer; if the recipient
dies early, a named beneficiary receives the remaining payments.
⩥ Joint Life Income. Answer: Provides income for two individuals but
stops after the first person dies.
⩥ Joint and Survivor Income. Answer: Pays income to two individuals
for life; after one dies, the survivor continues receiving payments.
⩥ Insuring Clause. Answer: Insurer's promise to pay death benefit;
found on the first page
⩥ Collateral assignment. Answer: Temporary transfer used to secure a
loan; lender is paid first if death occurs
⩥ Absolute Assignment. Answer: Permanent transfer of ownership
