New York Life, Accident and Health
Insurance Exam Questions and
Correct Answers| Rated A+ (2026)
COMPLETE QUESTIONS With 100%
Verified Solutions
(The Commissioner's Standard Ordinary Table) A
mortality table used in life insurance that
mathematically predicts the likelihood of death. -
✔✔ANSWER ✔✔-CSO Table
A basic policy that charges a level annual premium
for the lifetime of the insured and provides a level,
guaranteed death benefit. - ✔✔ANSWER ✔✔-
Straight Life
,A basic principle of insurance under which the risk
of financial loss is assigned to another party. -
✔✔ANSWER ✔✔-Transfer
A basic, fundamental insurance policy which pays
first with respect to other outstanding policies. -
✔✔ANSWER ✔✔-Primary Policy
A booklet that describes insurance policies and
concepts, and provides general information to help
an applicant make an informed decision. -
✔✔ANSWER ✔✔-Buyer's Guide
A choice of ways of receiving policy dividends,
nonforfeiture values, death benefits, or cash values.
- ✔✔ANSWER ✔✔-Option
A circumstance that increases the likelihood of a
loss. - ✔✔ANSWER ✔✔-Hazard
,A claim form that a claimant must submit after a
loss occurs. - ✔✔ANSWER ✔✔-Proof of Loss
A claim to a provider or medical supplier to receive
payments directly from Medicare. - ✔✔ANSWER
✔✔-Assignment (Health)
A clause that defines the insurance company's and
the insured's right to cancel or renew coverage. -
✔✔ANSWER ✔✔-Renewability Clause
A combination of a flexible premium and adjustable
life insurance. - ✔✔ANSWER ✔✔-Universal Life
A condition which does not allow a person to
perform the duties of any occupation for payment
as a result of injury or sickness. - ✔✔ANSWER ✔✔-
Total Disability
, A contract offered on a "take-it-or-leave-it" basis by
an insurer, in which the insured's only option is to
accept or reject the contract. Any ambiguities in the
contract will be settled in favor of the insured. -
✔✔ANSWER ✔✔-Adhesion
A contract that legally binds only one party to
contractual obligations after the premium is paid. -
✔✔ANSWER ✔✔-Unilateral Contract
A contract that pays a stated amount in the event of
a loss (disability insurance/life insurance). -
✔✔ANSWER ✔✔-Valued Contract
A contract that provides income for a specified
period of years, or for life. - ✔✔ANSWER ✔✔-
Annuity
Insurance Exam Questions and
Correct Answers| Rated A+ (2026)
COMPLETE QUESTIONS With 100%
Verified Solutions
(The Commissioner's Standard Ordinary Table) A
mortality table used in life insurance that
mathematically predicts the likelihood of death. -
✔✔ANSWER ✔✔-CSO Table
A basic policy that charges a level annual premium
for the lifetime of the insured and provides a level,
guaranteed death benefit. - ✔✔ANSWER ✔✔-
Straight Life
,A basic principle of insurance under which the risk
of financial loss is assigned to another party. -
✔✔ANSWER ✔✔-Transfer
A basic, fundamental insurance policy which pays
first with respect to other outstanding policies. -
✔✔ANSWER ✔✔-Primary Policy
A booklet that describes insurance policies and
concepts, and provides general information to help
an applicant make an informed decision. -
✔✔ANSWER ✔✔-Buyer's Guide
A choice of ways of receiving policy dividends,
nonforfeiture values, death benefits, or cash values.
- ✔✔ANSWER ✔✔-Option
A circumstance that increases the likelihood of a
loss. - ✔✔ANSWER ✔✔-Hazard
,A claim form that a claimant must submit after a
loss occurs. - ✔✔ANSWER ✔✔-Proof of Loss
A claim to a provider or medical supplier to receive
payments directly from Medicare. - ✔✔ANSWER
✔✔-Assignment (Health)
A clause that defines the insurance company's and
the insured's right to cancel or renew coverage. -
✔✔ANSWER ✔✔-Renewability Clause
A combination of a flexible premium and adjustable
life insurance. - ✔✔ANSWER ✔✔-Universal Life
A condition which does not allow a person to
perform the duties of any occupation for payment
as a result of injury or sickness. - ✔✔ANSWER ✔✔-
Total Disability
, A contract offered on a "take-it-or-leave-it" basis by
an insurer, in which the insured's only option is to
accept or reject the contract. Any ambiguities in the
contract will be settled in favor of the insured. -
✔✔ANSWER ✔✔-Adhesion
A contract that legally binds only one party to
contractual obligations after the premium is paid. -
✔✔ANSWER ✔✔-Unilateral Contract
A contract that pays a stated amount in the event of
a loss (disability insurance/life insurance). -
✔✔ANSWER ✔✔-Valued Contract
A contract that provides income for a specified
period of years, or for life. - ✔✔ANSWER ✔✔-
Annuity
