New York Life, Accident and Health Insurance Exam_Questions and Answers 100% Already Graded A+ updated

New York Life, Accident and Health Insurance Exam_Questions and Answers 100% Already Graded A+ updated According to the Affordable Care Act, any plan in existence prior to which date is considered a grandfathered plan? - CORRECT ANSWER-March 23, 2010 Which of these factors help determine an insured's life insurance premium? - CORRECT ANSWER-avocation (hobby) Long-Term Care policies may provide coverage for claims arising from - CORRECT ANSWER-senile dementia When replacing a life insurance policy, an agent must provide the applicant with a - CORRECT ANSWER-Notice Regarding Replacement All of the following are considered appropriate uses of life insurance for business purposes EXCEPT - CORRECT ANSWER-Protecting the business by covering entry level employees with life insurance All of these are characteristics of a major medical expense policy EXCEPT - CORRECT ANSWER-elimination periods A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n) - CORRECT ANSWER-association or labor group An insurance company that has qualified and received a Certificate of Authority from the Superintendent to sell insurance in this state is called a(n) - CORRECT ANSWER-admitted insurer In New York, an agent may have his/her license revoked for which of the following acts? - CORRECT ANSWER-Failure to pay state income tax As classified by the Affordable Care Act (ACA), a Silver Plan offers - CORRECT ANSWER-70% actuarial level of coverage provided What are levels of coverage as defined by the Affordable Care Act? - CORRECT ANSWER-Bronze, Silver, Gold, Platinum Insurance agent Kelly offers a prospect a $1,000 shopping card if an insurance policy is purchased through her. What illegal activity is this an example of? - CORRECT ANSWER-Rebating Low frequency diseases can be exclusively covered by what kind of health insurance policies? - CORRECT ANSWER-Limited policies The identity of the ___ must be made clear in every health insurance advertisement. - CORRECT ANSWER-insurer The open enrollment period for Medicare Supplements begins at age - CORRECT ANSWER-65 What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)? - CORRECT ANSWER-Dread disease insurance Insurance represents the process of risk - CORRECT ANSWER-transference An insurer has a right to screen applicants for HIV in which of the following ways? - CORRECT ANSWER-Blood test for HIV After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? - CORRECT ANSWER-File written proof of loss When an agent is determining the suitability of an annuity for a client, which of these is NOT usually taken into consideration? - CORRECT ANSWER-number of dependents A single premium cash value can be described as - CORRECT ANSWER-a policy that is paid up after only one payment Andy the annuitant dies before the annuity start date. Which of the following is a TRUE statement? - CORRECT ANSWER-Premiums paid plus interest earned is returned to the beneficiary All of these are common exclusions to a life insurance policy EXCEPT - CORRECT ANSWER-accidental death Major Medical expense plans provide coverage for each of the following EXCEPT - CORRECT ANSWER-work-related injuries An example of endodontic treatment is a - CORRECT ANSWER-root canal In an employer-sponsored group accident and health plan, a master contract is issued to the - CORRECT ANSWER-employer