NY STATE INSURANCE LICENSE FULL
REVISED EXAM 200 QUESTIONS
WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) ALREADY
GRADED A+
"When long-term care insurance is replaced, the insurer issuing the new policy cannot
1. impose a new pre-existing conditions exclusion
2. Charge higher premiums than applied under the replaced policy
3. Require a physical examination
4. Provide a lesser benefit than was available under the replaced policy - CORRECT ANSWER=> 1.
Impose a new pre-existing conditions exclusion"
"Accident and health insurance standard provisions require that
1. The policy, endorsements, and attached papers constitute the entire contract
2. Policies contain a coordination of benefits provision
3. Nonpayment of premium by the due date constitutes irrevocable cancellation by insured
4. The time for payment of claims may be waived by the insured - CORRECT ANSWER=> 1. The
policy, endorsements, and attached papers constitute the entire contract"
"Why does New York law require an insurance agent to examine the existing Medicare
Supplement policies of a prospective insured?
1. To uncover instances of unfair trade practices
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,2. To increase the agent's practical knowledge of insurance
3. To monitor insurance company compliance
4. To determine the suitability of potential changes - CORRECT ANSWER=> 4. To determine the
suitability of potential changes"
"An insured must notify an insurer of a medical claim within how many days after an accident?
1. 10
2. 20
3. 30
4.40 - CORRECT ANSWER=> 2. 20 days"
"A reciprocal insurer typically has an administrator who manages the premiums collected from
the group's members. This administrator is called a(n)
1. reciprocal commissioner
2. attorney general
3. attorney-in-fact
4. reciprocal director - CORRECT ANSWER=> 2. attorney-in-fact"
"Insurers must retain records of insurance transactions for
1. 6 months
2. 1 year
3. 4 years
4. 6 years - CORRECT ANSWER=> 4. 6 years"
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,"According to the Affordable Care Act (ACA), insurers can no longer deny health coverage due to
pre-existing conditions unless that plan is a(n)
1. Grandfathered plan
2. Accident plan
3. Individual plan
4. Group plan - CORRECT ANSWER=> 1. Grandfathered plan"
"Tim had an on-the-job accident and collects benefits from his individual disability income
policy. What factor could possibly reduce these benefits?
1. State and federal income taxes
2. Benefits he receives from workers compensation
3. Total household income
4. Assistance he receives from friends and family - CORRECT ANSWER=> 2. Benefits he receives
from workers compensation"
"A prepaid dental plan has an agreement in place with a network of dentists which
1. allows the dentists to determine the deductible and coinsurance amounts
2. accepts an established amount as payment in full for the dental services rendered
3. requires all the dentists to be located within the same state
4. must cover 100% of all orthodontic treatments - CORRECT ANSWER=> 2. accepts an established
amount as payment in full for the dental services rendered"
"The agreement in which hospitals and physician groups in a specific area contract with an
insurance company to provide medical care at predetermined costs is
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, 1. Preferred Provider Organization (PPO)
2. Health Maintenance Organization (HMO)
3. Designated Provider Organization (DPO)
4. Professional Service Organization (PSO) - CORRECT ANSWER=> 1. Preferred Provider
Organization (PPO)"
"Medicare Part A does NOT provide coverage for
1. inpatient room and board
2. prescriptions administered while an inpatient
3. the first 3 pints of blood
4. skilled nursing facility care - CORRECT ANSWER=> 3. The first 3 pints of blood"
"Under the Fair Credit Reporting Act, which statement is true?
1. The consumer who was investigated must be advised that credit, insurance, or employment
was denied because of
the unfavorable report
2. Disclosure of the name of the reporting agency is prohibited
3. The consumer must initiate legal action to remove unfavorable information from the report
4. A reporting agency must furnish an investigative report to any person who requests the
information - CORRECT ANSWER=> 1. The consumer who was investigated must be advised that
credit, insurance, or employment was denied because of the unfavorable report"
"Tim has an accident and health insurance policy that may not be changed in any way by the
insurer up to a stated age, as long as the premiums are paid. What type of policy is this?
1. Optionally renewable
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REVISED EXAM 200 QUESTIONS
WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) ALREADY
GRADED A+
"When long-term care insurance is replaced, the insurer issuing the new policy cannot
1. impose a new pre-existing conditions exclusion
2. Charge higher premiums than applied under the replaced policy
3. Require a physical examination
4. Provide a lesser benefit than was available under the replaced policy - CORRECT ANSWER=> 1.
Impose a new pre-existing conditions exclusion"
"Accident and health insurance standard provisions require that
1. The policy, endorsements, and attached papers constitute the entire contract
2. Policies contain a coordination of benefits provision
3. Nonpayment of premium by the due date constitutes irrevocable cancellation by insured
4. The time for payment of claims may be waived by the insured - CORRECT ANSWER=> 1. The
policy, endorsements, and attached papers constitute the entire contract"
"Why does New York law require an insurance agent to examine the existing Medicare
Supplement policies of a prospective insured?
1. To uncover instances of unfair trade practices
1|Page
,2. To increase the agent's practical knowledge of insurance
3. To monitor insurance company compliance
4. To determine the suitability of potential changes - CORRECT ANSWER=> 4. To determine the
suitability of potential changes"
"An insured must notify an insurer of a medical claim within how many days after an accident?
1. 10
2. 20
3. 30
4.40 - CORRECT ANSWER=> 2. 20 days"
"A reciprocal insurer typically has an administrator who manages the premiums collected from
the group's members. This administrator is called a(n)
1. reciprocal commissioner
2. attorney general
3. attorney-in-fact
4. reciprocal director - CORRECT ANSWER=> 2. attorney-in-fact"
"Insurers must retain records of insurance transactions for
1. 6 months
2. 1 year
3. 4 years
4. 6 years - CORRECT ANSWER=> 4. 6 years"
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,"According to the Affordable Care Act (ACA), insurers can no longer deny health coverage due to
pre-existing conditions unless that plan is a(n)
1. Grandfathered plan
2. Accident plan
3. Individual plan
4. Group plan - CORRECT ANSWER=> 1. Grandfathered plan"
"Tim had an on-the-job accident and collects benefits from his individual disability income
policy. What factor could possibly reduce these benefits?
1. State and federal income taxes
2. Benefits he receives from workers compensation
3. Total household income
4. Assistance he receives from friends and family - CORRECT ANSWER=> 2. Benefits he receives
from workers compensation"
"A prepaid dental plan has an agreement in place with a network of dentists which
1. allows the dentists to determine the deductible and coinsurance amounts
2. accepts an established amount as payment in full for the dental services rendered
3. requires all the dentists to be located within the same state
4. must cover 100% of all orthodontic treatments - CORRECT ANSWER=> 2. accepts an established
amount as payment in full for the dental services rendered"
"The agreement in which hospitals and physician groups in a specific area contract with an
insurance company to provide medical care at predetermined costs is
3|Page
, 1. Preferred Provider Organization (PPO)
2. Health Maintenance Organization (HMO)
3. Designated Provider Organization (DPO)
4. Professional Service Organization (PSO) - CORRECT ANSWER=> 1. Preferred Provider
Organization (PPO)"
"Medicare Part A does NOT provide coverage for
1. inpatient room and board
2. prescriptions administered while an inpatient
3. the first 3 pints of blood
4. skilled nursing facility care - CORRECT ANSWER=> 3. The first 3 pints of blood"
"Under the Fair Credit Reporting Act, which statement is true?
1. The consumer who was investigated must be advised that credit, insurance, or employment
was denied because of
the unfavorable report
2. Disclosure of the name of the reporting agency is prohibited
3. The consumer must initiate legal action to remove unfavorable information from the report
4. A reporting agency must furnish an investigative report to any person who requests the
information - CORRECT ANSWER=> 1. The consumer who was investigated must be advised that
credit, insurance, or employment was denied because of the unfavorable report"
"Tim has an accident and health insurance policy that may not be changed in any way by the
insurer up to a stated age, as long as the premiums are paid. What type of policy is this?
1. Optionally renewable
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