NYS Life, accident, and health
insurance Exam Question And
Answers GRADE A+ SOLUTIONS
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?
30-year decreasing term.
How many days notice does the ACA require insurers to give before
rescinding coverage?
30
A signed good health statement may be requested by a life producer at
the time of
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
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?
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
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)
Single premium deferred annuity
Which of these is NOT a factor that influences group health insurance
underwriting?
Physical exams of group members
What is the grace period required for an individual accident and
health insurance policy with monthly premiums?
10 days
In regards to technology and the ACA, which of the following
statements is correct?
,States which operate with an Exchange must offer an internet-based
portal
Insurable interest involves what assumption?
One person benefits from another person's continued life
Which of these policies is considered a whole life policy?
Single premium life
Which of the following would be considered an unfair claims
settlement practice?
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?
When the policy has a cash value
Which of these is NOT a factor during the health insurance
underwriting process?
Former residence
New York workers compensation laws exclude benefits for disabilities
caused by
Intentional, self-inflicted injuries occurring on the job
When premiums are determined, one factor would be the expenses of the
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
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
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?
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?
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?
Her employer's group accident and health plan
Which statement regarding the certificate of insurance is accurate?
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
Medical loss ratio
Which of the following statements regarding the Fair Credit Reporting
Act is correct?
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
Grandfathered plan
Which item must be considered by an agent when determining the
suitability of an annuity recommendation?
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?
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?
Overutilization of the plan
A life insurance producer licensed in New York is authorized to
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
Risk retention group
Any employee insured under a group life insurance plan is normally
Covered with term life insurance
A life insurance guaranteed insurability rider gives the insured the
right, without proving insurability, to
Periodically 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
After 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?
Pays a death benefit as a result of natural causes
What typically changes at the re-entry option date found in some term
life policies?
Premium
When an illustration is used in the sale of a life insurance policy,
the illustration MUST contain a statement signed by the
Agent
insurance Exam Question And
Answers GRADE A+ SOLUTIONS
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?
30-year decreasing term.
How many days notice does the ACA require insurers to give before
rescinding coverage?
30
A signed good health statement may be requested by a life producer at
the time of
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
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?
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
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)
Single premium deferred annuity
Which of these is NOT a factor that influences group health insurance
underwriting?
Physical exams of group members
What is the grace period required for an individual accident and
health insurance policy with monthly premiums?
10 days
In regards to technology and the ACA, which of the following
statements is correct?
,States which operate with an Exchange must offer an internet-based
portal
Insurable interest involves what assumption?
One person benefits from another person's continued life
Which of these policies is considered a whole life policy?
Single premium life
Which of the following would be considered an unfair claims
settlement practice?
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?
When the policy has a cash value
Which of these is NOT a factor during the health insurance
underwriting process?
Former residence
New York workers compensation laws exclude benefits for disabilities
caused by
Intentional, self-inflicted injuries occurring on the job
When premiums are determined, one factor would be the expenses of the
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
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
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?
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?
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?
Her employer's group accident and health plan
Which statement regarding the certificate of insurance is accurate?
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
Medical loss ratio
Which of the following statements regarding the Fair Credit Reporting
Act is correct?
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
Grandfathered plan
Which item must be considered by an agent when determining the
suitability of an annuity recommendation?
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?
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?
Overutilization of the plan
A life insurance producer licensed in New York is authorized to
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
Risk retention group
Any employee insured under a group life insurance plan is normally
Covered with term life insurance
A life insurance guaranteed insurability rider gives the insured the
right, without proving insurability, to
Periodically 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
After 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?
Pays a death benefit as a result of natural causes
What typically changes at the re-entry option date found in some term
life policies?
Premium
When an illustration is used in the sale of a life insurance policy,
the illustration MUST contain a statement signed by the
Agent
