NYS Life, accident, and health insurance
Exam
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? - ANS30-year decreasing term.
How many days notice does the ACA require insurers to give before rescinding coverage? -
ANS30
A signed good health statement may be requested by a life producer at the time of - ANSPolicy
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 - ANSNot 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? - ANSLong-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 - ANSAfter 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) -
ANSSingle premium deferred annuity
Which of these is NOT a factor that influences group health insurance underwriting? -
ANSPhysical exams of group members
What is the grace period required for an individual accident and health insurance policy with
monthly premiums? - ANS10 days
In regards to technology and the ACA, which of the following statements is correct? -
ANSStates which operate with an Exchange must offer an internet-based portal
Insurable interest involves what assumption? - ANSOne person benefits from another person's
continued life
Which of these policies is considered a whole life policy? - ANSSingle premium life
,Which of the following would be considered an unfair claims settlement practice? -
ANSMisrepresenting 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? -
ANSWhen the policy has a cash value
Which of these is NOT a factor during the health insurance underwriting process? - ANSFormer
residence
New York workers compensation laws exclude benefits for disabilities caused by -
ANSIntentional, self-inflicted injuries occurring on the job
When premiums are determined, one factor would be the expenses of the - ANSInsurer
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 - ANSequal
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 -
ANSThere 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? - ANSSubject 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? - ANSFlexible 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? - ANSHer employer's group accident and health plan
Which statement regarding the certificate of insurance is accurate? - ANSIt 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 - ANSMedical loss ratio
Which of the following statements regarding the Fair Credit Reporting Act is correct? - ANSIf
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 - ANSGrandfathered plan
, Which item must be considered by an agent when determining the suitability of an annuity
recommendation? - ANSThe 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? - ANSApplicant has a right to
receive a copy of the report
If group Health benefit levels are too high, what could be the end result? - ANSOverutilization of
the plan
A life insurance producer licensed in New York is authorized to - ANSSolicit, 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 - ANSRisk retention group
Any employee insured under a group life insurance plan is normally - ANSCovered with term life
insurance
A life insurance guaranteed insurability rider gives the insured the right, without proving
insurability, to - ANSPeriodically purchase additional insurance
A policy owner has decided to replace an existing life insurance policy with a new one. The
existing life policy should be terminated - ANSAfter the new life policy has been issued and
delivered to the policy owner
Which of the following is NOT a function of accident and health insurance? - ANSPays a death
benefit as a result of natural causes
What typically changes at the re-entry option date found in some term life policies? -
ANSPremium
When an illustration is used in the sale of a life insurance policy, the illustration MUST contain a
statement signed by the - ANSAgent
Andy is in need of health care performed by skilled medical practitioners, but only on an
intermittent basis. What level of care will his doctor likely prescribe? - ANSIntermediate care
An individual may receive Medicare Part A Hospital benefits, regardless of age, as long as the
person has received which of the following benefits for at least 24 months? - ANSSocial
Security Disability
Field underwriting by a producer - ANSmay result in the disclosure of hazardous activities of the
applicant
Exam
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? - ANS30-year decreasing term.
How many days notice does the ACA require insurers to give before rescinding coverage? -
ANS30
A signed good health statement may be requested by a life producer at the time of - ANSPolicy
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 - ANSNot 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? - ANSLong-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 - ANSAfter 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) -
ANSSingle premium deferred annuity
Which of these is NOT a factor that influences group health insurance underwriting? -
ANSPhysical exams of group members
What is the grace period required for an individual accident and health insurance policy with
monthly premiums? - ANS10 days
In regards to technology and the ACA, which of the following statements is correct? -
ANSStates which operate with an Exchange must offer an internet-based portal
Insurable interest involves what assumption? - ANSOne person benefits from another person's
continued life
Which of these policies is considered a whole life policy? - ANSSingle premium life
,Which of the following would be considered an unfair claims settlement practice? -
ANSMisrepresenting 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? -
ANSWhen the policy has a cash value
Which of these is NOT a factor during the health insurance underwriting process? - ANSFormer
residence
New York workers compensation laws exclude benefits for disabilities caused by -
ANSIntentional, self-inflicted injuries occurring on the job
When premiums are determined, one factor would be the expenses of the - ANSInsurer
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 - ANSequal
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 -
ANSThere 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? - ANSSubject 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? - ANSFlexible 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? - ANSHer employer's group accident and health plan
Which statement regarding the certificate of insurance is accurate? - ANSIt 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 - ANSMedical loss ratio
Which of the following statements regarding the Fair Credit Reporting Act is correct? - ANSIf
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 - ANSGrandfathered plan
, Which item must be considered by an agent when determining the suitability of an annuity
recommendation? - ANSThe 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? - ANSApplicant has a right to
receive a copy of the report
If group Health benefit levels are too high, what could be the end result? - ANSOverutilization of
the plan
A life insurance producer licensed in New York is authorized to - ANSSolicit, 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 - ANSRisk retention group
Any employee insured under a group life insurance plan is normally - ANSCovered with term life
insurance
A life insurance guaranteed insurability rider gives the insured the right, without proving
insurability, to - ANSPeriodically purchase additional insurance
A policy owner has decided to replace an existing life insurance policy with a new one. The
existing life policy should be terminated - ANSAfter the new life policy has been issued and
delivered to the policy owner
Which of the following is NOT a function of accident and health insurance? - ANSPays a death
benefit as a result of natural causes
What typically changes at the re-entry option date found in some term life policies? -
ANSPremium
When an illustration is used in the sale of a life insurance policy, the illustration MUST contain a
statement signed by the - ANSAgent
Andy is in need of health care performed by skilled medical practitioners, but only on an
intermittent basis. What level of care will his doctor likely prescribe? - ANSIntermediate care
An individual may receive Medicare Part A Hospital benefits, regardless of age, as long as the
person has received which of the following benefits for at least 24 months? - ANSSocial
Security Disability
Field underwriting by a producer - ANSmay result in the disclosure of hazardous activities of the
applicant
