NYS RULES AND REGULATIONS
PERTINENT TO LIFE INSURANCE.
EXAM 2025 QUESTIONS AND ANSWERS
In regards to technology and the ACA, which of the following is true? - ANS States which
operate with an exchange must offer an internet-based portal
the time after issuing a policy during which an insurance company my contest a life insurance
claim due to the statements on an application is - ANS 2 years
In New York, a group accident and health certificate of insurance must contain - ANS a
summary of policy features and benefits
Starting in 2016, businesses with up to ___ employees will be defined by the ACA as a "small
business". - ANS 100
accident and health insurance standard provision require that - ANS the policy,
endorsement, and attached papers constitute the entire contract
when initially issued, a temporary producer license in NY is valid for - ANS 90 days
which of the following information is NOT needed to determine the suitability of an annuity
recommendation? - ANS level of education
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,which of these is NOT considered a Federal punishment for unfair and deceptive insurance
practices? - ANS community service
an association which maintains a facility that displays offers and counteroffers for purchasers or
sellers of life settlement contract is known as a - ANS life settlement intermediary
in regards to ACA , which of these is NOT a role of a health insurance exchange - ANS contact
the employer is an employee stops coverage under a plan offered in the exchange
ACA - ANS affordable care act
a policyowner has decided to replace an existing life insurance policy with a new one. The
existing life insurance policy should be terminated - ANS after the new life insurance policy
has been issued and delivered to the policyowner
In New York, reducing benefits for a newborn child under an accident and health plan is -
ANS prohibited in any form
According to ACA, coverage may be recinded - ANS if intentionally false statements were
offered
Tom the agent replaced a client's insurance policy when it was not in the client's best interest.
Tom could be found guilty of - ANS twisting
the application is part of an annuity contract according to which of the following clauses
(required accident and health provision) - ANS entire contract
the superintendent has the ability to examine the business records of insurers and agencies
because - ANS of the powers granted through state statutes
2 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
,an agent must report to the superintendent any administrative action taken against her by any
governmental agency within - ANS 30 days
According to the ACA, new health insurance marketplaces are established by the - ANS CCIIO
Uniform policy provisions found in all accident and health policies require that - ANS the
policy, endorsement and attached papers constitute the entire contract (a required provision)
which of the following statements about the contestability of life insurance policy is true? -
ANS policy can be contested by the insurer only during the firsts 2 years of the contract
a small employer group is an employer that employs how many? - ANS 2-50 employees
According to ACA, the proportion of premium revenues spent on clinical services and quality
improvement is called the - ANS medical loss ratio
when a similarly appointed agent provides another agent with a referral, which results in a sale,
the commissions paid are generally - ANS shared between the agents
what does "SHOP" stand for in SHOP exchange - ANS Small Business Health Options Program
why were Exchanges implemented by the ACA? - ANS to create a one-stop market for
standardized health insurance plans
New York requires advertisements for accident and health insurance policies covering ONLY a
specified illness to prominently display - ANS a statement that the policy is limited
an individual in NY who charges a fee for giving advise on an insurance policy must be licensed
as a consultant if the advice is given to - ANS the policyholder
3 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
, why does NY law require an insurance agent to examine the existing Medicare Supplement
policies of a prospective insured? - ANS to determine the suitability of potential changes
NY law requires the Human Immunodeficiency Virus (HIV) consent form to - ANS Disclose the
types of individuals or organizations that may receive a copy of the test results
Which of these is NOT considered a preventative service in a dental plan? - ANS Fillings
During a stated initial peroid of coverage, long-term care insurance policies normally EXCLUDE
conditions that - ANS were treated during a specified period preceding the policy date
when determining the suitability of an annuity for a consumer, the insurance provider is
obligated to - ANS make reasonable efforts to fit the annuity with the consumer's needs
Carol purchases a whole life policy that provides a choice of dividend options. The policy is
required to include a statement that the dividends are - ANS not guaranteed
Under the New York Disability Benefits Law, cash payments are provided to workers who are
unable to work because of injury or illness that - ANS occurred on the job
The amount received for a life insurance policy in a life settlement is than the death benefit -
ANS less
In New York, who is primarily responsible for determining the appropriateness of a Medicare
Supplement policy for a proposed insured? - ANS the agent who solicits the application
The grace period for a life insurance policy with an annual premium is usually - ANS 31 days
4 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
PERTINENT TO LIFE INSURANCE.
EXAM 2025 QUESTIONS AND ANSWERS
In regards to technology and the ACA, which of the following is true? - ANS States which
operate with an exchange must offer an internet-based portal
the time after issuing a policy during which an insurance company my contest a life insurance
claim due to the statements on an application is - ANS 2 years
In New York, a group accident and health certificate of insurance must contain - ANS a
summary of policy features and benefits
Starting in 2016, businesses with up to ___ employees will be defined by the ACA as a "small
business". - ANS 100
accident and health insurance standard provision require that - ANS the policy,
endorsement, and attached papers constitute the entire contract
when initially issued, a temporary producer license in NY is valid for - ANS 90 days
which of the following information is NOT needed to determine the suitability of an annuity
recommendation? - ANS level of education
1 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
,which of these is NOT considered a Federal punishment for unfair and deceptive insurance
practices? - ANS community service
an association which maintains a facility that displays offers and counteroffers for purchasers or
sellers of life settlement contract is known as a - ANS life settlement intermediary
in regards to ACA , which of these is NOT a role of a health insurance exchange - ANS contact
the employer is an employee stops coverage under a plan offered in the exchange
ACA - ANS affordable care act
a policyowner has decided to replace an existing life insurance policy with a new one. The
existing life insurance policy should be terminated - ANS after the new life insurance policy
has been issued and delivered to the policyowner
In New York, reducing benefits for a newborn child under an accident and health plan is -
ANS prohibited in any form
According to ACA, coverage may be recinded - ANS if intentionally false statements were
offered
Tom the agent replaced a client's insurance policy when it was not in the client's best interest.
Tom could be found guilty of - ANS twisting
the application is part of an annuity contract according to which of the following clauses
(required accident and health provision) - ANS entire contract
the superintendent has the ability to examine the business records of insurers and agencies
because - ANS of the powers granted through state statutes
2 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
,an agent must report to the superintendent any administrative action taken against her by any
governmental agency within - ANS 30 days
According to the ACA, new health insurance marketplaces are established by the - ANS CCIIO
Uniform policy provisions found in all accident and health policies require that - ANS the
policy, endorsement and attached papers constitute the entire contract (a required provision)
which of the following statements about the contestability of life insurance policy is true? -
ANS policy can be contested by the insurer only during the firsts 2 years of the contract
a small employer group is an employer that employs how many? - ANS 2-50 employees
According to ACA, the proportion of premium revenues spent on clinical services and quality
improvement is called the - ANS medical loss ratio
when a similarly appointed agent provides another agent with a referral, which results in a sale,
the commissions paid are generally - ANS shared between the agents
what does "SHOP" stand for in SHOP exchange - ANS Small Business Health Options Program
why were Exchanges implemented by the ACA? - ANS to create a one-stop market for
standardized health insurance plans
New York requires advertisements for accident and health insurance policies covering ONLY a
specified illness to prominently display - ANS a statement that the policy is limited
an individual in NY who charges a fee for giving advise on an insurance policy must be licensed
as a consultant if the advice is given to - ANS the policyholder
3 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
, why does NY law require an insurance agent to examine the existing Medicare Supplement
policies of a prospective insured? - ANS to determine the suitability of potential changes
NY law requires the Human Immunodeficiency Virus (HIV) consent form to - ANS Disclose the
types of individuals or organizations that may receive a copy of the test results
Which of these is NOT considered a preventative service in a dental plan? - ANS Fillings
During a stated initial peroid of coverage, long-term care insurance policies normally EXCLUDE
conditions that - ANS were treated during a specified period preceding the policy date
when determining the suitability of an annuity for a consumer, the insurance provider is
obligated to - ANS make reasonable efforts to fit the annuity with the consumer's needs
Carol purchases a whole life policy that provides a choice of dividend options. The policy is
required to include a statement that the dividends are - ANS not guaranteed
Under the New York Disability Benefits Law, cash payments are provided to workers who are
unable to work because of injury or illness that - ANS occurred on the job
The amount received for a life insurance policy in a life settlement is than the death benefit -
ANS less
In New York, who is primarily responsible for determining the appropriateness of a Medicare
Supplement policy for a proposed insured? - ANS the agent who solicits the application
The grace period for a life insurance policy with an annual premium is usually - ANS 31 days
4 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
