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New York Insurance Laws (2025) comprehensive
questions and verified detailed solutions ( MULTIPLE
CHOICES) |100% CORRECT!!
The time limit on certain defenses under individual health policies in New York is:
A
20 days
B
3 years
C
90 days
D
2 years - (answers)D
2 years
The Superintendent may examine the books and records of any insurer based on
the:
A
Permission of a producer
B
Authority granted by the state
C
Authority granted by the Secretary of State
D
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Permission of the insurer - (answers)B
Authority granted by the state
If a licensee uses an assumed name, the name must be approved by the
Superintendent:
A
Before the licensee may use it to transact insurance in New York
B
Within 30 days of using the assumed name
C
Only if they change their legal name
D
Upon license renewal - (answers)A
Before the licensee may use it to transact insurance in New York
In New York, basic hospital insurance must provide coverage for any continuous
hospital confinement per insured for a period of at least:
A
20 days
B
30 days
C
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60 days
D
10 days - (answers)C
60 days
If two individuals are licensed in the same line with two different companies join
together to sell a policy, the commission can be:
A
Shared between the two agents and the insured
B
Paid only to the agent who initiated the sale
C
Withheld by the insuring company since this is an illegal practice
D
Shared between the two agents - (answers)D
Shared between the two agents
The _________ gives the owner of a variable annuity the ability to withdraw a
maximum percentage of the annuity value until the initial investment amount has
been recouped.
A
Joint and survivor annuity benefit
B
New York Insurance Laws (2025) comprehensive
questions and verified detailed solutions ( MULTIPLE
CHOICES) |100% CORRECT!!
The time limit on certain defenses under individual health policies in New York is:
A
20 days
B
3 years
C
90 days
D
2 years - (answers)D
2 years
The Superintendent may examine the books and records of any insurer based on
the:
A
Permission of a producer
B
Authority granted by the state
C
Authority granted by the Secretary of State
D
,2|Page
Permission of the insurer - (answers)B
Authority granted by the state
If a licensee uses an assumed name, the name must be approved by the
Superintendent:
A
Before the licensee may use it to transact insurance in New York
B
Within 30 days of using the assumed name
C
Only if they change their legal name
D
Upon license renewal - (answers)A
Before the licensee may use it to transact insurance in New York
In New York, basic hospital insurance must provide coverage for any continuous
hospital confinement per insured for a period of at least:
A
20 days
B
30 days
C
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60 days
D
10 days - (answers)C
60 days
If two individuals are licensed in the same line with two different companies join
together to sell a policy, the commission can be:
A
Shared between the two agents and the insured
B
Paid only to the agent who initiated the sale
C
Withheld by the insuring company since this is an illegal practice
D
Shared between the two agents - (answers)D
Shared between the two agents
The _________ gives the owner of a variable annuity the ability to withdraw a
maximum percentage of the annuity value until the initial investment amount has
been recouped.
A
Joint and survivor annuity benefit
B
