NYS Life, accident, and health
Questions & Correct Detailed Answers
Quiz_________________?
A "premature" distribution from a modified endowment contract (MEC) incurs a penalty tax
of -
Answer✅
10%
Quiz_________________?
A certificate of coverage for a group health policy is best described as -
Answer✅
proof of coverage for the employee
Quiz_________________?
A comprehensive group policy also covers expenses related to vision care. Which of the
following is not typically covered under a vision plan? -
Answer✅
Cataract surgery
1
, Quiz_________________?
A comprehensive major medical health insurance policy contains an Eligible Expenses
provision which identifies the types of health care services that are covered. All of the
following health care services are typically covered EXCEPT for -
Answer✅
Experimental and investigative services
Quiz_________________?
A copy of all Medicare Supplement advertisements must be submitted for approval to -
Answer✅
The Superintendent of Insurance
Quiz_________________?
A disability income insurance policy was recently issued with a rating. What does this mean?
-
Answer✅
Policyowner will be charged an additional premium
Quiz_________________?
A family counseling benefit is typically offered under which of these coverages? -
Answer✅
Hospice care
Quiz_________________?
A group health insurance policy is a contract between an -
2
, Answer✅
Employer and insurance company
Quiz_________________?
A group-owned insurance company that is formed to assume and spread the liability risks of
its members is known as a -
Answer✅
Risk retention group
Quiz_________________?
A health insurer MUST provide a proof of loss form -
Answer✅
within 15 days of receipt of the notice of loss
Quiz_________________?
A health plan offered by private insurance companies is -
Answer✅
A Medicare Supplement
Quiz_________________?
A Health Reimbursement Arrangement MUST be established -
Answer✅
By the employer
3
, Quiz_________________?
A large corporation pension plan purchased an accumulation annuity contract where all of
the participating employees received certificates of participation. What is this contract
called? -
Answer✅
Group deferred annuity
Quiz_________________?
A life insurance guaranteed insurability rider gives the insured the right, without proving
insurability, to -
Answer✅
Periodically purchase additional insurance
Quiz_________________?
A life insurance illustration showing future premiums being paid out of nonguaranteed values
must disclose that -
Answer✅
The policy owner may need to resume premium payments depending on actual results
Quiz_________________?
A life insurance policy provision that has the ability to reduce the death benefit is called the
-
Answer✅
accelerated (living) benefit
Quiz_________________?
4
Questions & Correct Detailed Answers
Quiz_________________?
A "premature" distribution from a modified endowment contract (MEC) incurs a penalty tax
of -
Answer✅
10%
Quiz_________________?
A certificate of coverage for a group health policy is best described as -
Answer✅
proof of coverage for the employee
Quiz_________________?
A comprehensive group policy also covers expenses related to vision care. Which of the
following is not typically covered under a vision plan? -
Answer✅
Cataract surgery
1
, Quiz_________________?
A comprehensive major medical health insurance policy contains an Eligible Expenses
provision which identifies the types of health care services that are covered. All of the
following health care services are typically covered EXCEPT for -
Answer✅
Experimental and investigative services
Quiz_________________?
A copy of all Medicare Supplement advertisements must be submitted for approval to -
Answer✅
The Superintendent of Insurance
Quiz_________________?
A disability income insurance policy was recently issued with a rating. What does this mean?
-
Answer✅
Policyowner will be charged an additional premium
Quiz_________________?
A family counseling benefit is typically offered under which of these coverages? -
Answer✅
Hospice care
Quiz_________________?
A group health insurance policy is a contract between an -
2
, Answer✅
Employer and insurance company
Quiz_________________?
A group-owned insurance company that is formed to assume and spread the liability risks of
its members is known as a -
Answer✅
Risk retention group
Quiz_________________?
A health insurer MUST provide a proof of loss form -
Answer✅
within 15 days of receipt of the notice of loss
Quiz_________________?
A health plan offered by private insurance companies is -
Answer✅
A Medicare Supplement
Quiz_________________?
A Health Reimbursement Arrangement MUST be established -
Answer✅
By the employer
3
, Quiz_________________?
A large corporation pension plan purchased an accumulation annuity contract where all of
the participating employees received certificates of participation. What is this contract
called? -
Answer✅
Group deferred annuity
Quiz_________________?
A life insurance guaranteed insurability rider gives the insured the right, without proving
insurability, to -
Answer✅
Periodically purchase additional insurance
Quiz_________________?
A life insurance illustration showing future premiums being paid out of nonguaranteed values
must disclose that -
Answer✅
The policy owner may need to resume premium payments depending on actual results
Quiz_________________?
A life insurance policy provision that has the ability to reduce the death benefit is called the
-
Answer✅
accelerated (living) benefit
Quiz_________________?
4
