NYS Life, Accident, and Health State Exam Simulator Correct 100%(RATED A)

Which of the following can be defined as "the potential for loss"? - ANSWERSRisk Which of the following describes the act of insuring a risk against possible loss? - ANSWERSRisk Transfer A description of a qualified plan's insurance contract may be found in which ERISA reporting form? - ANSWERSAnnual Return/Report (Form 5500) Which of the following statements is NOT true concerning the relationship between group health insurance plans and Medicare? (Assuming the business has more than 20 employees) - ANSWERSGroup Health Coverage Is NOT Available For Workers Over The Age of 65 Custodial care is normally covered under - ANSWERSLong-term care insurance Which of the following statements accurately describes the "time limit on certain defenses"? - ANSWERSAfter a stated period of time, claims cannot be denied due to material misrepresentations on the application Taxable income may be the result from all of these modified endowment contract (MEC) transactions EXCEPT for - ANSWERSThe policy is surrendered for less than what was paid into it In a speech to a local association, an agent incorrectly stated that XYZ Insurance Company is in financial difficulty and not paying claims. The agent may be guilty of - ANSWERSDefamation When does the owner's contractual rights begin under an individual annuity contract? - ANSWERSTime of purchase According to the Affordable Care Act, new Health Insurance Marketplace are established by the - ANSWERSCCIIO (The Center for Consumer Information and Insurance Oversight) An insurance policy that can also be classified as a securities product is called - ANSWERSVariable life An accelerated (living) benefit rider in a life insurance policy may provide funds to an insured who - ANSWERSIs expected to remain in a nursing home for life NYS Life, Accident, and Health State Exam Simulator Correct 100%(RATED A)