NYS Life, accident, and health insurance Exam
Questions and Answers Latest Updated 2024
1. 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? - answers>30-year decreasing term.
2. How many days notice does the ACA require insurers to give before
rescinding coverage? - answers>30
3. A signed good health statement may be requested by a life producer at
the time of - answers>Policy Delivery
4. 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 - answers>Not Guaranteeed
5. 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?
- answers>Long-term care benefit rider
6. 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 - answers>After two years of disability
7. Sylvia purchased an annuity for $100,000 from the proceeds of an
inheritance. No further payments are permitted and the income stream
[Date] 1
,NYS Life, accident, and health insurance Exam
Questions and Answers Latest Updated 2024
begins in 15 years. This contract is a(n) - answers>Single premium
deferred annuity
8. Which of these is NOT a factor that influences group health insurance
underwriting? - answers>Physical exams of group members
9. What is the grace period required for an individual accident and health
insurance policy with monthly premiums? - answers>10 days
10.In regards to technology and the ACA, which of the following statements
is correct? - answers>States which operate with an Exchange must offer
an internet-based portal
11.Insurable interest involves what assumption? - answers>One person
benefits from another person's continued life
12.Which of these policies is considered a whole life policy? -
answers>Single premium life
13.Which of the following would be considered an unfair claims settlement
practice? - answers>Misrepresenting pertinent policy provisions relating
to coverage after a loss
14.A policyowner is permitted to take out a policy loan on a whole life policy
at what point? - answers>When the policy has a cash value
[Date] 2
,NYS Life, accident, and health insurance Exam
Questions and Answers Latest Updated 2024
15.Which of these is NOT a factor during the health insurance underwriting
process? - answers>Former residence
16.New York workers compensation laws exclude benefits for disabilities
caused by - answers>Intentional, self-inflicted injuries occurring on the
job
17.When premiums are determined, one factor would be the expenses of the
- answers>Insurer
18.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 - answers>equal the net single
premium for the same face amount at the insured's attained age
19.During open enrollment for Medicare Supplement coverage, an applicant
MUST be at least - answers>There is no minimum age requirement
20.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? -
answers>Subject to market value adjustment
[Date] 3
, NYS Life, accident, and health insurance Exam
Questions and Answers Latest Updated 2024
21.Which of the following contracts offer deferred taxation, flexible
payments, a guaranteed interest rate, and death benefits equal to the
cash value? - answers>Flexible premium fixed annuity
22.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? -
answers>Her employer's group accident and health plan
23.Which statement regarding the certificate of insurance is accurate? -
answers>It indicates evidence of an employee's insurance coverage
24.According to the ACA, the proportion of premium revenues spent on
clinical services and quality improvements is called the -
answers>Medical loss ratio
25.Which of the following statements regarding the Fair Credit Reporting Act
is correct? - answers>If credit, insurance, or employment was denied
because of an unfavorable report, the consumer must be advised
26.According to the ACA, insurers can no longer deny health coverage due to
pre-exsisting conditions unless that plan is a - answers>Grandfathered
plan
[Date] 4
Questions and Answers Latest Updated 2024
1. 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? - answers>30-year decreasing term.
2. How many days notice does the ACA require insurers to give before
rescinding coverage? - answers>30
3. A signed good health statement may be requested by a life producer at
the time of - answers>Policy Delivery
4. 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 - answers>Not Guaranteeed
5. 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?
- answers>Long-term care benefit rider
6. 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 - answers>After two years of disability
7. Sylvia purchased an annuity for $100,000 from the proceeds of an
inheritance. No further payments are permitted and the income stream
[Date] 1
,NYS Life, accident, and health insurance Exam
Questions and Answers Latest Updated 2024
begins in 15 years. This contract is a(n) - answers>Single premium
deferred annuity
8. Which of these is NOT a factor that influences group health insurance
underwriting? - answers>Physical exams of group members
9. What is the grace period required for an individual accident and health
insurance policy with monthly premiums? - answers>10 days
10.In regards to technology and the ACA, which of the following statements
is correct? - answers>States which operate with an Exchange must offer
an internet-based portal
11.Insurable interest involves what assumption? - answers>One person
benefits from another person's continued life
12.Which of these policies is considered a whole life policy? -
answers>Single premium life
13.Which of the following would be considered an unfair claims settlement
practice? - answers>Misrepresenting pertinent policy provisions relating
to coverage after a loss
14.A policyowner is permitted to take out a policy loan on a whole life policy
at what point? - answers>When the policy has a cash value
[Date] 2
,NYS Life, accident, and health insurance Exam
Questions and Answers Latest Updated 2024
15.Which of these is NOT a factor during the health insurance underwriting
process? - answers>Former residence
16.New York workers compensation laws exclude benefits for disabilities
caused by - answers>Intentional, self-inflicted injuries occurring on the
job
17.When premiums are determined, one factor would be the expenses of the
- answers>Insurer
18.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 - answers>equal the net single
premium for the same face amount at the insured's attained age
19.During open enrollment for Medicare Supplement coverage, an applicant
MUST be at least - answers>There is no minimum age requirement
20.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? -
answers>Subject to market value adjustment
[Date] 3
, NYS Life, accident, and health insurance Exam
Questions and Answers Latest Updated 2024
21.Which of the following contracts offer deferred taxation, flexible
payments, a guaranteed interest rate, and death benefits equal to the
cash value? - answers>Flexible premium fixed annuity
22.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? -
answers>Her employer's group accident and health plan
23.Which statement regarding the certificate of insurance is accurate? -
answers>It indicates evidence of an employee's insurance coverage
24.According to the ACA, the proportion of premium revenues spent on
clinical services and quality improvements is called the -
answers>Medical loss ratio
25.Which of the following statements regarding the Fair Credit Reporting Act
is correct? - answers>If credit, insurance, or employment was denied
because of an unfavorable report, the consumer must be advised
26.According to the ACA, insurers can no longer deny health coverage due to
pre-exsisting conditions unless that plan is a - answers>Grandfathered
plan
[Date] 4
