NY Life and Health Exam Questions And Correct Answers Latest Update

NY Life and Health Exam Questions And Correct Answers
Latest Update.




The //insurer //can //increase //the //policy //premium //on //an //individual //basis. //- //(correct //answer) //-
Which //of //the //following //is //NOT //a //feature //of //a //guaranteed //renewable //provision?



Coverage //is //not //renewable //beyond //the //insured's //age //65.

The //insured's //benefits //cannot //be //reduced.

The //insurer //can //increase //the //policy //premium //on //an //individual //basis.

The //insured //has //a //unilateral //right //to //renew //the //policy //for //the //life //of //the //contract.

Residual //disability //- //(correct //answer) //-Disability //income //policies //can //provide //coverage //for //a
//loss /
/of /
/income /
/when /
/returning /
/to //work //after //recovering //from //total //disability. //What //is //the //name //of //this //policy?




Income //replacement

Residual //disability

Recurrent //disability

Partial //disability

Insurer's //executive //officer //- //(correct //answer) //-
Which /
/of //the //following //entities //has //the //authority //to //make //changes //to //an //insurance //policy?

,Department //of //Insurance

Broker

Producer

Insurer's //executive //officer

Monthly. //- //(correct //answer) //-
Which /
/of /
/the /
/following /
/premium //modes //would //result //in //the //highest //annual //cost //for //an //insurance //policy?




Monthly

Quarterly

Semi-annual

Annual

An //agent's //retirement. //- //(correct //answer) //-
In //this //state //a //temporary //license //may //be //issued //for //all //of //the //following //reasons //EXCEPT



An //agent's //time //in //the //military //service

An //agent's //retirement.

The //death //of //an //agent.

An //agent's //disability.

From //trustee //to //trustee //- //(correct //answer) //-
In //a //direct //rollover, //how //is //the //money //transferred //from //one //plan //to //the //new //one?



From //the //original //plan //to //the //original //custodian

From //trustee //to //trustee

From //trustee //to //the //participant

,From //the //participant //to //the //new //plan

Annuity //certain. //- //(correct //answer) //-
Your //client //plans //to //retire //at //age //50. //He //would //like //to //purchase //an //annuity //that //would
//provide /
/income /
/from /
/the /
/time /
/he /
/retires //to //the //age //when //social //security //and //other //pension //funds //become //available. //What
//settlement //option //should //he //consider?




Annuity //certain

Fixed //annuity

Refund //Life

Variable //annuity

Debtor //in //creditor. //- //(correct //answer) //-
Which //of //the //following //is //NOT //an //example //of //insurable //interest?



Employer //in //employee

Child //in //parent

Debtor //in //creditor

Business //partners //in //each //other

The //application //was //processed //without //a //valid //license. //- //(correct //answer) //-
A/
/spouse /
/was /
/granted //a //temporary //license //for //her //deceased //husband's //agency //on //March //1. //On //May //1
//she /
/processed /
/an //application //for //life //insurance //on //a //new //applicant. //Which //of //the //following //is //true?

, The //spouse's //license //had //expired.

The //application //is //valid //as //submitted.

The //application //was //processed //without //a //valid //license.

The //application //is //not //valid //as //submitted.

15% /
/of /
/the /
/agent's /
/annual //commission //is //from //business //sold //to //the //agent's //family. //- //(correct //answer) //-
The /
/Superintendent //will //not //renew //an //agent //or //broker's //license //upon //finding //that //the //license
//has /
/been /
/used /
/to /
/write /
/controlled /
/business. //Which //of //the //following //would //be //a //violation //of //controlled //business //practices?




5% /
/of /
/the //agent's //annual //commission //is //from //policies //sold //to //the //agent's //business //associates.


40% /
/of /
/the /
/agent's /
/commission //in //the //last //month //comes //from //business //sold //to //friends //and //family //members.


15% //of //the //agent's //annual //commission //is //from //business //sold //to //the //agent's //family.

25% //of //the //agent's //commissions //come //from //policies //sold //to //one //client.

Insurer's //guaranteed //minimum //rate //of //interest //- //(correct //answer) //-
Which /
/of /
/the /
/following //ultimately //determines //the //interest //rates //paid //to //the //owner //of //a //fixed //annuity?