New York Life, Accident and Health Insurance
Exam WITH CORRECT AND VERIFIED ANSWERS
According to the Affordable Care Act, any plan in existence prior to which date is considered a
grandfathered plan? - ANSWER☑️⭐-March 23, 2010
Which of these factors help determine an insured's life insurance premium? - ANSWER☑️⭐-avocation
(hobby)
Long-Term Care policies may provide coverage for claims arising from - ANSWER☑️⭐-senile dementia
When replacing a life insurance policy, an agent must provide the applicant with a - ANSWER☑️⭐-Notice
Regarding Replacement
All of the following are considered appropriate uses of life insurance for business purposes EXCEPT -
ANSWER☑️⭐-Protecting the business by covering entry level employees with life insurance
All of these are characteristics of a major medical expense policy EXCEPT - ANSWER☑️⭐-elimination
periods
A type of group that has a constitution and bylaws and has been organized for purposes other than
obtaining insurance is called a(n) - ANSWER☑️⭐-association or labor group
An insurance company that has qualified and received a Certificate of Authority from the
Superintendent to sell insurance in this state is called a(n) - ANSWER☑️⭐-admitted insurer
In New York, an agent may have his/her license revoked for which of the following acts? - ANSWER☑️⭐-
Failure to pay state income tax
, As classified by the Affordable Care Act (ACA), a Silver Plan offers - ANSWER☑️⭐-70% actuarial level of
coverage provided
What are levels of coverage as defined by the Affordable Care Act? - ANSWER☑️⭐-Bronze, Silver, Gold,
Platinum
Insurance agent Kelly offers a prospect a $1,000 shopping card if an insurance policy is purchased
through her. What illegal activity is this an example of? - ANSWER☑️⭐-Rebating
Low frequency diseases can be exclusively covered by what kind of health insurance policies? -
ANSWER☑️⭐-Limited policies
The identity of the ___ must be made clear in every health insurance advertisement. - ANSWER☑️⭐-
insurer
The open enrollment period for Medicare Supplements begins at age - ANSWER☑️⭐-65
What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)? -
ANSWER☑️⭐-Dread disease insurance
Insurance represents the process of risk - ANSWER☑️⭐-transference
An insurer has a right to screen applicants for HIV in which of the following ways? - ANSWER☑️⭐-Blood
test for HIV
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? -
ANSWER☑️⭐-File written proof of loss
When an agent is determining the suitability of an annuity for a client, which of these is NOT usually
taken into consideration? - ANSWER☑️⭐-number of dependents
Exam WITH CORRECT AND VERIFIED ANSWERS
According to the Affordable Care Act, any plan in existence prior to which date is considered a
grandfathered plan? - ANSWER☑️⭐-March 23, 2010
Which of these factors help determine an insured's life insurance premium? - ANSWER☑️⭐-avocation
(hobby)
Long-Term Care policies may provide coverage for claims arising from - ANSWER☑️⭐-senile dementia
When replacing a life insurance policy, an agent must provide the applicant with a - ANSWER☑️⭐-Notice
Regarding Replacement
All of the following are considered appropriate uses of life insurance for business purposes EXCEPT -
ANSWER☑️⭐-Protecting the business by covering entry level employees with life insurance
All of these are characteristics of a major medical expense policy EXCEPT - ANSWER☑️⭐-elimination
periods
A type of group that has a constitution and bylaws and has been organized for purposes other than
obtaining insurance is called a(n) - ANSWER☑️⭐-association or labor group
An insurance company that has qualified and received a Certificate of Authority from the
Superintendent to sell insurance in this state is called a(n) - ANSWER☑️⭐-admitted insurer
In New York, an agent may have his/her license revoked for which of the following acts? - ANSWER☑️⭐-
Failure to pay state income tax
, As classified by the Affordable Care Act (ACA), a Silver Plan offers - ANSWER☑️⭐-70% actuarial level of
coverage provided
What are levels of coverage as defined by the Affordable Care Act? - ANSWER☑️⭐-Bronze, Silver, Gold,
Platinum
Insurance agent Kelly offers a prospect a $1,000 shopping card if an insurance policy is purchased
through her. What illegal activity is this an example of? - ANSWER☑️⭐-Rebating
Low frequency diseases can be exclusively covered by what kind of health insurance policies? -
ANSWER☑️⭐-Limited policies
The identity of the ___ must be made clear in every health insurance advertisement. - ANSWER☑️⭐-
insurer
The open enrollment period for Medicare Supplements begins at age - ANSWER☑️⭐-65
What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)? -
ANSWER☑️⭐-Dread disease insurance
Insurance represents the process of risk - ANSWER☑️⭐-transference
An insurer has a right to screen applicants for HIV in which of the following ways? - ANSWER☑️⭐-Blood
test for HIV
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? -
ANSWER☑️⭐-File written proof of loss
When an agent is determining the suitability of an annuity for a client, which of these is NOT usually
taken into consideration? - ANSWER☑️⭐-number of dependents
