NYS Life, Accident, and Health Insurance Exam||
LATEST UPDATE 2025/26
Which type of life insurance policy is best suited for paying off the outstanding balance
of a 30-year mortgage in the event of the insured's death? -CORRECTANSWER 30-
year decreasing term.
How many days notice does the ACA require insurers to give before rescinding
coverage? -CORRECTANSWER 30
A signed good health statement may be requested by a life producer at the time of -
CORRECTANSWER Policy Delivery
Carol purchases a whole life policy that provides a choice of dividend options. This
policy is required to include a statement that the dividends are -CORRECTANSWER
Not Guaranteeed
Tim is confined to a nursing home but doesn't have a terminal illness. Which life
insurance rider is designed to help pay for this type of expense? -CORRECTANSWER
Long-term care benefit rider
An insured is covered under a group long-term disability policy. Under this type of
policy, the definition of disability based on any occupation typically applies -
CORRECTANSWER After two years of disability
,Sylvia purchased an annuity for $100,000 from the proceeds of an inheritance. No
further payments are permitted and the income stream begins in 15 years. This contract
is a(n) -CORRECTANSWER Single premium deferred annuity
Which of these is NOT a factor that influences group health insurance underwriting? -
CORRECTANSWER Physical exams of group members
What is the grace period required for an individual accident and health insurance policy
with monthly premiums? -CORRECTANSWER 10 days
In regards to technology and the ACA, which of the following statements is correct? -
CORRECTANSWER States which operate with an Exchange must offer an internet-
based portal
Insurable interest involves what assumption? -CORRECTANSWER One person
benefits from another person's continued life
Which of these policies is considered a whole life policy? -CORRECTANSWER Single
premium life
,Which of the following would be considered an unfair claims settlement practice? -
CORRECTANSWER Misrepresenting pertinent policy provisions relating to coverage
after a loss
A policyowner is permitted to take out a policy loan on a whole life policy at what point?
-CORRECTANSWER When the policy has a cash value
Which of these is NOT a factor during the health insurance underwriting process? -
CORRECTANSWER Former residence
New York workers compensation laws exclude benefits for disabilities caused by -
CORRECTANSWER Intentional, self-inflicted injuries occurring on the job
When premiums are determined, one factor would be the expenses of the -
CORRECTANSWER Insurer
Scott has a life insurance policy in which the dividends are left with the insurance
company. This particular policy may be paid up when the cash value plus accumulated
dividends -CORRECTANSWER equal the net single premium for the same face amount
at the insured's attained age
During open enrollment for Medicare Supplement coverage, an applicant MUST be at
least -CORRECTANSWER There is no minimum age requirement
, What happens to the cash value of a market value adjusted annuity if it's surrendered
prior to the end of the stated guarantee period? -CORRECTANSWER Subject to market
value adjustment
Which of the following contracts offer deferred taxation, flexible payments, a guaranteed
interest rate, and death benefits equal to the cash value? -CORRECTANSWER Flexible
premium fixed annuity
Tonya has been diagnosed with kidney failure and has group accident and health
insurance through her large employer. Which of these accident and health plans will be
primary during the months following her diagnosis? -CORRECTANSWER Her
employer's group accident and health plan
Which statement regarding the certificate of insurance is accurate? -
CORRECTANSWER It indicates evidence of an employee's insurance coverage
According to the ACA, the proportion of premium revenues spent on clinical services
and quality improvements is called the -CORRECTANSWER Medical loss ratio
Which of the following statements regarding the Fair Credit Reporting Act is correct? -
CORRECTANSWER If credit, insurance, or employment was denied because of an
unfavorable report, the consumer must be advised
LATEST UPDATE 2025/26
Which type of life insurance policy is best suited for paying off the outstanding balance
of a 30-year mortgage in the event of the insured's death? -CORRECTANSWER 30-
year decreasing term.
How many days notice does the ACA require insurers to give before rescinding
coverage? -CORRECTANSWER 30
A signed good health statement may be requested by a life producer at the time of -
CORRECTANSWER Policy Delivery
Carol purchases a whole life policy that provides a choice of dividend options. This
policy is required to include a statement that the dividends are -CORRECTANSWER
Not Guaranteeed
Tim is confined to a nursing home but doesn't have a terminal illness. Which life
insurance rider is designed to help pay for this type of expense? -CORRECTANSWER
Long-term care benefit rider
An insured is covered under a group long-term disability policy. Under this type of
policy, the definition of disability based on any occupation typically applies -
CORRECTANSWER After two years of disability
,Sylvia purchased an annuity for $100,000 from the proceeds of an inheritance. No
further payments are permitted and the income stream begins in 15 years. This contract
is a(n) -CORRECTANSWER Single premium deferred annuity
Which of these is NOT a factor that influences group health insurance underwriting? -
CORRECTANSWER Physical exams of group members
What is the grace period required for an individual accident and health insurance policy
with monthly premiums? -CORRECTANSWER 10 days
In regards to technology and the ACA, which of the following statements is correct? -
CORRECTANSWER States which operate with an Exchange must offer an internet-
based portal
Insurable interest involves what assumption? -CORRECTANSWER One person
benefits from another person's continued life
Which of these policies is considered a whole life policy? -CORRECTANSWER Single
premium life
,Which of the following would be considered an unfair claims settlement practice? -
CORRECTANSWER Misrepresenting pertinent policy provisions relating to coverage
after a loss
A policyowner is permitted to take out a policy loan on a whole life policy at what point?
-CORRECTANSWER When the policy has a cash value
Which of these is NOT a factor during the health insurance underwriting process? -
CORRECTANSWER Former residence
New York workers compensation laws exclude benefits for disabilities caused by -
CORRECTANSWER Intentional, self-inflicted injuries occurring on the job
When premiums are determined, one factor would be the expenses of the -
CORRECTANSWER Insurer
Scott has a life insurance policy in which the dividends are left with the insurance
company. This particular policy may be paid up when the cash value plus accumulated
dividends -CORRECTANSWER equal the net single premium for the same face amount
at the insured's attained age
During open enrollment for Medicare Supplement coverage, an applicant MUST be at
least -CORRECTANSWER There is no minimum age requirement
, What happens to the cash value of a market value adjusted annuity if it's surrendered
prior to the end of the stated guarantee period? -CORRECTANSWER Subject to market
value adjustment
Which of the following contracts offer deferred taxation, flexible payments, a guaranteed
interest rate, and death benefits equal to the cash value? -CORRECTANSWER Flexible
premium fixed annuity
Tonya has been diagnosed with kidney failure and has group accident and health
insurance through her large employer. Which of these accident and health plans will be
primary during the months following her diagnosis? -CORRECTANSWER Her
employer's group accident and health plan
Which statement regarding the certificate of insurance is accurate? -
CORRECTANSWER It indicates evidence of an employee's insurance coverage
According to the ACA, the proportion of premium revenues spent on clinical services
and quality improvements is called the -CORRECTANSWER Medical loss ratio
Which of the following statements regarding the Fair Credit Reporting Act is correct? -
CORRECTANSWER If credit, insurance, or employment was denied because of an
unfavorable report, the consumer must be advised
