New York Life Insurance License
Study Guide Questions and
Answers 100% PASS
RETURN OF PREMIUM RIDER—ANSWER--If the insured dies within a specified time of policy
issuance, this refunds the purchase payment to the beneficiary.
THE GREATER OF ACCUMULATED CASH VALUE OR THE TOTAL PREMIUMS PAID—ANSWER--If
an annuitant dies during the accumulation period, his or her beneficiary will receive this.
BI-MONTHLY—ANSWER--Generally, in life insurance policies, premiums can be collected
under all modes except this.
TO PROVIDE FOR THE EARLY PAYMENT OF THE DEATH BENEFIT FOR A TERMINALLY ILL
INSURED—ANSWER--This is the purpose of the accelerated death benefit rider.
LIFE INCOME—ANSWER--The settlement option that pays the maximum death benefit to the
beneficiary.
LIFETIME PROTECTION—ANSWER--A limited payment whole life policy provides this.
AN INSURERS CONTRACT WITH ITS AGENTS—ANSWER--This is what a certificate of authority
is.
REINSURANCE INTERMEDIARY—ANSWER--This license is not an insurance producer.
, POLICY OWNER—ANSWER--A person covered under a life insurance contract who seeks to
sell their policy and enter into a life settlement contract.
ACCUMULATION PERIOD—ANSWER--Kelvin is receiving tax deferred growth until retirement;
this is the phase of his annuity.
UNIVERSAL, TERM, AND WHOLE LIFE INSURANCE—ANSWER--The types of life insurance
generally used to cover key employees indemnification.
31 DAYS—ANSWER--This is the grace period for an individual life insurance policy.
TO REDUCE THE PREMIUM—ANSWER--This is the purpose of backdating a life insurance
application.
HELP THE INSURED FILE AND FOLLOW UP ON THE CLAIMS—ANSWER--This is a responsibility
an agent owes the insured during the policy year.
AN INSURER FORMED ACCORDING TO THE LEGAL REQUIREMENTS OF ANOTHER COUNTRY—
ANSWER--An example of an alien insurer.
PROJECTED LIFETIME EARNINGS IN THE STOCK MARKET, INCLUDING DIVIDENDS AND
GROWTH ACCOUNT—ANSWER--When following the needs approach to determine the
amount of life insurance needed, it is necessary to determine all except this.
A SPECIFIED SUM OF MONEY—ANSWER--Upon the death of an insured individual, life
insurance guarantees this to the beneficiary.
EXAMINES THE LEVEL OF EXPERIENTIAL DATA RELATED TO THE INSURED MEDICAL
CONDITION—ANSWER--When attempting to arrive at a projected life expectancy of the
insured under a life settlement contract, the underwriter does this.
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
Study Guide Questions and
Answers 100% PASS
RETURN OF PREMIUM RIDER—ANSWER--If the insured dies within a specified time of policy
issuance, this refunds the purchase payment to the beneficiary.
THE GREATER OF ACCUMULATED CASH VALUE OR THE TOTAL PREMIUMS PAID—ANSWER--If
an annuitant dies during the accumulation period, his or her beneficiary will receive this.
BI-MONTHLY—ANSWER--Generally, in life insurance policies, premiums can be collected
under all modes except this.
TO PROVIDE FOR THE EARLY PAYMENT OF THE DEATH BENEFIT FOR A TERMINALLY ILL
INSURED—ANSWER--This is the purpose of the accelerated death benefit rider.
LIFE INCOME—ANSWER--The settlement option that pays the maximum death benefit to the
beneficiary.
LIFETIME PROTECTION—ANSWER--A limited payment whole life policy provides this.
AN INSURERS CONTRACT WITH ITS AGENTS—ANSWER--This is what a certificate of authority
is.
REINSURANCE INTERMEDIARY—ANSWER--This license is not an insurance producer.
, POLICY OWNER—ANSWER--A person covered under a life insurance contract who seeks to
sell their policy and enter into a life settlement contract.
ACCUMULATION PERIOD—ANSWER--Kelvin is receiving tax deferred growth until retirement;
this is the phase of his annuity.
UNIVERSAL, TERM, AND WHOLE LIFE INSURANCE—ANSWER--The types of life insurance
generally used to cover key employees indemnification.
31 DAYS—ANSWER--This is the grace period for an individual life insurance policy.
TO REDUCE THE PREMIUM—ANSWER--This is the purpose of backdating a life insurance
application.
HELP THE INSURED FILE AND FOLLOW UP ON THE CLAIMS—ANSWER--This is a responsibility
an agent owes the insured during the policy year.
AN INSURER FORMED ACCORDING TO THE LEGAL REQUIREMENTS OF ANOTHER COUNTRY—
ANSWER--An example of an alien insurer.
PROJECTED LIFETIME EARNINGS IN THE STOCK MARKET, INCLUDING DIVIDENDS AND
GROWTH ACCOUNT—ANSWER--When following the needs approach to determine the
amount of life insurance needed, it is necessary to determine all except this.
A SPECIFIED SUM OF MONEY—ANSWER--Upon the death of an insured individual, life
insurance guarantees this to the beneficiary.
EXAMINES THE LEVEL OF EXPERIENTIAL DATA RELATED TO THE INSURED MEDICAL
CONDITION—ANSWER--When attempting to arrive at a projected life expectancy of the
insured under a life settlement contract, the underwriter does this.
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
