NY LIFE ACCIDENT AND HEALTH INSURANCE
AGENT BROKER EXAMINATION TEST 2025
DETAILED QUESTIONS AND SOLUTIONS
ALREADY PASSED GRADED A+
◉ What must be given to the insurer within 20 days after occurrence or
commencement of any loss covered by a policy, or as thereafter as is
reasonably possible? Answer: Notice of Claim
◉ When will a policy pay on a usual, customary and reasonable (UCR)
basis? Answer: When particular benefits are not listed on a payment
schedule
◉ An example of a non-forfeiture option is?
(option that allows policyholder to receive benefit if they choose to
surrender policy before maturity and can't pay premiums) Answer: Cash
Dividend option
◉ What happens when the lifetime maximum benefit limit has been
reached? Answer: The insured will pay all of the remaining medical
costs for as long as the policy is in force
◉ Whose responsibility is it to make sure that the company is notified of
a death claim at the earliest possible opportunity (in most cases)?
Answer: The producer
, ◉ What is the waiver of premium provision? Answer: In a long-term
care contract, the premium is waived after the insured has been confined
for a specific period of time
◉ What is not an exclusion from loss found in disability income policies
for that incurred while? Answer: Committing a misdemeanor
◉ What is a disadvantage to a flexible premium annuity? Answer: The
actual amount of the annuity benefit cannot be determined in advance
◉ What does coinsurance mean Answer: The insurer and the insured
share expenses over the deductible
◉ Under normal conditions, how long does the insured have to show
proof of loss when a single loss is claimed? Answer: 90 days from the
date of loss
◉ What's an advantage of obtaining a policy loan versus a withdrawal?
Answer: the loan isn't taxed while a withdrawal is taxed for amounts
above the contract cost basis
◉ What is an example of something NOT being a preexisting condition?
Answer: Any chronic health condition that presents symptoms and
which was unknown at the time of application
AGENT BROKER EXAMINATION TEST 2025
DETAILED QUESTIONS AND SOLUTIONS
ALREADY PASSED GRADED A+
◉ What must be given to the insurer within 20 days after occurrence or
commencement of any loss covered by a policy, or as thereafter as is
reasonably possible? Answer: Notice of Claim
◉ When will a policy pay on a usual, customary and reasonable (UCR)
basis? Answer: When particular benefits are not listed on a payment
schedule
◉ An example of a non-forfeiture option is?
(option that allows policyholder to receive benefit if they choose to
surrender policy before maturity and can't pay premiums) Answer: Cash
Dividend option
◉ What happens when the lifetime maximum benefit limit has been
reached? Answer: The insured will pay all of the remaining medical
costs for as long as the policy is in force
◉ Whose responsibility is it to make sure that the company is notified of
a death claim at the earliest possible opportunity (in most cases)?
Answer: The producer
, ◉ What is the waiver of premium provision? Answer: In a long-term
care contract, the premium is waived after the insured has been confined
for a specific period of time
◉ What is not an exclusion from loss found in disability income policies
for that incurred while? Answer: Committing a misdemeanor
◉ What is a disadvantage to a flexible premium annuity? Answer: The
actual amount of the annuity benefit cannot be determined in advance
◉ What does coinsurance mean Answer: The insurer and the insured
share expenses over the deductible
◉ Under normal conditions, how long does the insured have to show
proof of loss when a single loss is claimed? Answer: 90 days from the
date of loss
◉ What's an advantage of obtaining a policy loan versus a withdrawal?
Answer: the loan isn't taxed while a withdrawal is taxed for amounts
above the contract cost basis
◉ What is an example of something NOT being a preexisting condition?
Answer: Any chronic health condition that presents symptoms and
which was unknown at the time of application
