NEW YORK STATE LIFE INSURANCE SERIES 17-51 EXAM
NEWEST 2025/2026 WITH COMPLETE QUESTIONS AND
SOLUTIONS |ALREADY GRADED A+||BRAND NEW VERSION!
Dividends - SOLUTION-are considered a return of unearned premium which is why are they are
paid out income tax free.
24 - SOLUTION-Accelerated Death Benefit
The prognosis of a physician must be a life expectancy of ___ months or less.
The individual states - SOLUTION-Highest authority for insurance regulation. No interference from
federal regulation, unless federal law specifically provides otherwise.
Fixed Annuities payments are level - SOLUTION-Premiums are allocated to the insurer's general
account. The insurer has the investment risk, and fixed annuities pay out a fixed level income
benefit payment.
Market Value Adjustment Annuity - SOLUTION-an annuity product that features fixed interest rate
guarantees combined with an interest rate adjustment factor that can cause the surrender value
to fluctuate in response to market conditions.
, 2 years or less - SOLUTION-Viatical Settlement life expectancy
Pre-need - SOLUTION-A type of coverage with a small face amount, typically purchased to pay
the burial expenses of the insured is called ____.
Option B - SOLUTION-With an _____ death benefit, the beneficiary will receive the face amount
plus the cash value as of the date of death.
Option A - SOLUTION-Pays the face amount of the policy and provides a level death benefit. As
the cash value increases, the company's risk decreases. A universal life policy must include an
amount at risk. If the cash value approaches the face amount, the death benefit must increase
so as to provide for this amount at risk. This minimum separation between the cash value and
the death benefit is called the "risk corridor." This corridor of insurance is automatic and does
not require insurability. This prevents the policy from maturing too early. Pays the face amount
of the policy and provides a level death benefit. As the cash value increases, the company's risk
decreases. A universal life policy must include an amount at risk. If the cash value approaches
the face amount, the death benefit must increase so as to provide for this amount at risk. This
minimum separation between the cash value and the death benefit is called the "risk corridor."
This corridor of insurance is automatic and does not require insurability. This prevents the policy
from maturing too early.
Fair Credit Reporting Act (FCRA) - SOLUTION-An insurance company must adhere to the
__________ when gathering information about an applicant from third parties.
Entity Purchase Plan - SOLUTION-The business enters into an agreement to purchase the
deceased's interest in the business
conditional - SOLUTION-When both parties must perform certain duties and follow certain rules of
conduct to make a contract enforceable, this is known as a(n) __________ contract.
NEWEST 2025/2026 WITH COMPLETE QUESTIONS AND
SOLUTIONS |ALREADY GRADED A+||BRAND NEW VERSION!
Dividends - SOLUTION-are considered a return of unearned premium which is why are they are
paid out income tax free.
24 - SOLUTION-Accelerated Death Benefit
The prognosis of a physician must be a life expectancy of ___ months or less.
The individual states - SOLUTION-Highest authority for insurance regulation. No interference from
federal regulation, unless federal law specifically provides otherwise.
Fixed Annuities payments are level - SOLUTION-Premiums are allocated to the insurer's general
account. The insurer has the investment risk, and fixed annuities pay out a fixed level income
benefit payment.
Market Value Adjustment Annuity - SOLUTION-an annuity product that features fixed interest rate
guarantees combined with an interest rate adjustment factor that can cause the surrender value
to fluctuate in response to market conditions.
, 2 years or less - SOLUTION-Viatical Settlement life expectancy
Pre-need - SOLUTION-A type of coverage with a small face amount, typically purchased to pay
the burial expenses of the insured is called ____.
Option B - SOLUTION-With an _____ death benefit, the beneficiary will receive the face amount
plus the cash value as of the date of death.
Option A - SOLUTION-Pays the face amount of the policy and provides a level death benefit. As
the cash value increases, the company's risk decreases. A universal life policy must include an
amount at risk. If the cash value approaches the face amount, the death benefit must increase
so as to provide for this amount at risk. This minimum separation between the cash value and
the death benefit is called the "risk corridor." This corridor of insurance is automatic and does
not require insurability. This prevents the policy from maturing too early. Pays the face amount
of the policy and provides a level death benefit. As the cash value increases, the company's risk
decreases. A universal life policy must include an amount at risk. If the cash value approaches
the face amount, the death benefit must increase so as to provide for this amount at risk. This
minimum separation between the cash value and the death benefit is called the "risk corridor."
This corridor of insurance is automatic and does not require insurability. This prevents the policy
from maturing too early.
Fair Credit Reporting Act (FCRA) - SOLUTION-An insurance company must adhere to the
__________ when gathering information about an applicant from third parties.
Entity Purchase Plan - SOLUTION-The business enters into an agreement to purchase the
deceased's interest in the business
conditional - SOLUTION-When both parties must perform certain duties and follow certain rules of
conduct to make a contract enforceable, this is known as a(n) __________ contract.
