XCEL NY-LIFE & HEALTH EXAM SIMULATOR 2025/2026 BANK COMPLETE STUDY GUIDE
ACCURATE REAL EXAM QUESTIONS TESTING VERSIONS AND A STUDY GUIDE | EXPERT
VERIFIED FOR GUARANTEED PASS
Jonas is a whole life insurance policyowner and would like to add coverage for his two children. Which
of the following products would allow him to accomplish this? - (ANSWER)Child Term Rider
Lisa has recently bought a fixed annuity. Which of these is considered to be a disadvantage of owning
this type of annuity? - (ANSWER)During periods of inflation, annuitants will experience a decrease in
purchasing power of their payments.
In contrast to a guaranteed renewable policy, a noncancellable policy - (ANSWER)may never raise
premiums
What is implied authority defined as? - (ANSWER)Authority that is not specifically given to an agent in
the agency contract, but that an agent can reasonably assume to carry out his/her duties
A disability income policy can prevent an insured from earning a higher income than if he/she were
working by utilizing - (ANSWER)benefit limits
An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is
called - (ANSWER)coinsurance
The entire contract provision includes all of the following EXCEPT the - (ANSWER)Changes made by the
agent
Converting a group plan to permanent life insurance requires - (ANSWER)the conversion being applied
for within 31 days of termination
An agent who sells an individual life insurance policy in New York MUST deliver to the policyowner a(n) -
(ANSWER)Policy Summary and Buyer's Guide
,XCEL NY-LIFE & HEALTH EXAM SIMULATOR 2025/2026 BANK COMPLETE STUDY GUIDE
ACCURATE REAL EXAM QUESTIONS TESTING VERSIONS AND A STUDY GUIDE | EXPERT
VERIFIED FOR GUARANTEED PASS
Which type of plan would be most appropriate for an individual on Medicare and is concerned that
Medicare will NOT pay or charges exceeding the approved amount? - (ANSWER)Medicare Supplement
Plan F
Which of the following is present when an applicant stands to lose value if the insured dies? -
(ANSWER)Insurable interest.
What is the primary factor that determines the benefits paid under a disability income policy? -
(ANSWER)Wages
Suitability is best described as: - (ANSWER)obtaining information from the applicant to determine
whether an insurance or annuity product is appropriate
How does one become eligible for Part D: Prescription Drug coverage? - (ANSWER)Must have Medicare
coverage
Fixed annuities provide each of the following EXCEPT - (ANSWER)Hedge against inflation
Which of these riders will pay a death benefit if the insured's spouse dies? - (ANSWER)Family term
insurance rider
Loss of income insurance provides - (ANSWER)an individual the means to replace wages
After ___ year(s) from date of issue, an individual health insurance policy can no longer be cancelled by
the insurer for misstatements (except for fraud) - (ANSWER)2
, XCEL NY-LIFE & HEALTH EXAM SIMULATOR 2025/2026 BANK COMPLETE STUDY GUIDE
ACCURATE REAL EXAM QUESTIONS TESTING VERSIONS AND A STUDY GUIDE | EXPERT
VERIFIED FOR GUARANTEED PASS
Which of the following is included in the entire contract according to the entire contract provision? -
(ANSWER)Application
A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which
risk classification? - (ANSWER)Preferred
When a Medicare Supplement insurance policy is being replaced, who must sign the notice of
replacement? - (ANSWER)The agent and the applicant
Which of the following actions may an insurance company NOT do in a health policy that contains a
guaranteed renewable premium benefit? - (ANSWER)Increase the premiums on an individual basis.
The premium payment mode that results in the highest overall cost would be: - (ANSWER)monthly
Disability income plans which require that the insurer can NEVER change or alter premium rates are
usually considered - (ANSWER)Noncancellable
The power given to an individual producer that is not specifically address in his/her contract is
considered what type of authority? - (ANSWER)Implied
Which of the following is an example of the insured's considertion? - (ANSWER)A paid premium
Under group health insurance, a certificate of coverage is issued to the - (ANSWER)employee
Which type of long-term care benefit would be appropriate for a stroke victim who requires speech
therapy administered at her home? - (ANSWER)Home health care
ACCURATE REAL EXAM QUESTIONS TESTING VERSIONS AND A STUDY GUIDE | EXPERT
VERIFIED FOR GUARANTEED PASS
Jonas is a whole life insurance policyowner and would like to add coverage for his two children. Which
of the following products would allow him to accomplish this? - (ANSWER)Child Term Rider
Lisa has recently bought a fixed annuity. Which of these is considered to be a disadvantage of owning
this type of annuity? - (ANSWER)During periods of inflation, annuitants will experience a decrease in
purchasing power of their payments.
In contrast to a guaranteed renewable policy, a noncancellable policy - (ANSWER)may never raise
premiums
What is implied authority defined as? - (ANSWER)Authority that is not specifically given to an agent in
the agency contract, but that an agent can reasonably assume to carry out his/her duties
A disability income policy can prevent an insured from earning a higher income than if he/she were
working by utilizing - (ANSWER)benefit limits
An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is
called - (ANSWER)coinsurance
The entire contract provision includes all of the following EXCEPT the - (ANSWER)Changes made by the
agent
Converting a group plan to permanent life insurance requires - (ANSWER)the conversion being applied
for within 31 days of termination
An agent who sells an individual life insurance policy in New York MUST deliver to the policyowner a(n) -
(ANSWER)Policy Summary and Buyer's Guide
,XCEL NY-LIFE & HEALTH EXAM SIMULATOR 2025/2026 BANK COMPLETE STUDY GUIDE
ACCURATE REAL EXAM QUESTIONS TESTING VERSIONS AND A STUDY GUIDE | EXPERT
VERIFIED FOR GUARANTEED PASS
Which type of plan would be most appropriate for an individual on Medicare and is concerned that
Medicare will NOT pay or charges exceeding the approved amount? - (ANSWER)Medicare Supplement
Plan F
Which of the following is present when an applicant stands to lose value if the insured dies? -
(ANSWER)Insurable interest.
What is the primary factor that determines the benefits paid under a disability income policy? -
(ANSWER)Wages
Suitability is best described as: - (ANSWER)obtaining information from the applicant to determine
whether an insurance or annuity product is appropriate
How does one become eligible for Part D: Prescription Drug coverage? - (ANSWER)Must have Medicare
coverage
Fixed annuities provide each of the following EXCEPT - (ANSWER)Hedge against inflation
Which of these riders will pay a death benefit if the insured's spouse dies? - (ANSWER)Family term
insurance rider
Loss of income insurance provides - (ANSWER)an individual the means to replace wages
After ___ year(s) from date of issue, an individual health insurance policy can no longer be cancelled by
the insurer for misstatements (except for fraud) - (ANSWER)2
, XCEL NY-LIFE & HEALTH EXAM SIMULATOR 2025/2026 BANK COMPLETE STUDY GUIDE
ACCURATE REAL EXAM QUESTIONS TESTING VERSIONS AND A STUDY GUIDE | EXPERT
VERIFIED FOR GUARANTEED PASS
Which of the following is included in the entire contract according to the entire contract provision? -
(ANSWER)Application
A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which
risk classification? - (ANSWER)Preferred
When a Medicare Supplement insurance policy is being replaced, who must sign the notice of
replacement? - (ANSWER)The agent and the applicant
Which of the following actions may an insurance company NOT do in a health policy that contains a
guaranteed renewable premium benefit? - (ANSWER)Increase the premiums on an individual basis.
The premium payment mode that results in the highest overall cost would be: - (ANSWER)monthly
Disability income plans which require that the insurer can NEVER change or alter premium rates are
usually considered - (ANSWER)Noncancellable
The power given to an individual producer that is not specifically address in his/her contract is
considered what type of authority? - (ANSWER)Implied
Which of the following is an example of the insured's considertion? - (ANSWER)A paid premium
Under group health insurance, a certificate of coverage is issued to the - (ANSWER)employee
Which type of long-term care benefit would be appropriate for a stroke victim who requires speech
therapy administered at her home? - (ANSWER)Home health care
