NYS Life, accident, and health insurance Exam
d d d d d d
Questions and Answers Latest Updated 2024 d d d d d
1. Which type of life insurance policy is best suited for paying off the
d d d d d d d d d d d d
outstanding balance of a 30- d d d d
year mortgage in the event of the insured's death? - answers>30-
d d d d d d d d d d
year decreasing term.
d d
2. How many days notice does the ACA require insurers to give before
d d d d d d d d d d d d
rescinding coverage? - answers>30 d d d
3. A signed good health statement may be requested by a life producer at t
d d d d d d d d d d d d d
he time of - answers>Policy Delivery
d d d d d
4. Carol purchases a whole life policy that provides a choice of dividend
d d d d d d d d d d d
options. This policy is required to include a statement that the dividends a
d d d d d d d d d d d d
re - answers>Not Guaranteeed
d d d
5. Tim is confined to a nursing home but doesn't have a terminal illness.
d d d d d d d d d d d d
Which life insurance rider is designed to help pay for this type of expense?
d d d d d d d d d d d d d
- answers>Long-term care benefit rider d d d
6. An insured is covered under a group long-
d d d d d d d
term disability policy. Under this type of policy, the definition of disability
d d d d d d d d d d d d
based on any occupation d d d
typically applies - answers>After two years of disability
d d d d d d d
7. Sylvia purchased an annuity for $100,000 from the proceeds of an
d d d d d d d d d d
inheritance. No further payments are permitted and the income stream
d d d d d d d d d
1
,[Date]
,NYS Life, accident, and health insurance Exam
d d d d d d
Questions and Answers Latest Updated 2024 d d d d d
begins in 15 years. This contract is a(n) -
d d d d d d d d
answers>Single premium deferred annuity
d d d d
8. Which of these is NOT a factor that influences group health insurance
d d d d d d d d d d d d
underwriting? - answers>Physical exams of group members d d d d d d
9. What is the grace period required for an individual accident and health i
d d d d d d d d d d d d
nsurance policy with monthly premiums? - answers>10 days
d d d d d d d
10. In regards to technology and the ACA, which of the following statements i
d d d d d d d d d d d d
s correct? -
d d
d answers>States which operate with an Exchange must offer an internet- d d d d d d d d d
based portal d
11. Insurable interest involves what assumption? -
d d d d d
d answers>One person benefits from another person's continued life
d d d d d d d
12. Which of these policies is considered a whole life policy? -
d d d d d d d d d d
answers>Single premium life d d
13. Which of the following would be considered an unfair claims settlement p
d d d d d d d d d d d
ractice? - d
danswers>Misrepresenting pertinent policy provisions relating to coverag d d d d d d
e after a loss
d d d
14. A policyowner is permitted to take out a policy loan on a whole life policy
d d d d d d d d d d d d d d d
at what point? - answers>When the policy has a cash value
d d d d d d d d d d
2
, [Date]
d d d d d d
Questions and Answers Latest Updated 2024 d d d d d
1. Which type of life insurance policy is best suited for paying off the
d d d d d d d d d d d d
outstanding balance of a 30- d d d d
year mortgage in the event of the insured's death? - answers>30-
d d d d d d d d d d
year decreasing term.
d d
2. How many days notice does the ACA require insurers to give before
d d d d d d d d d d d d
rescinding coverage? - answers>30 d d d
3. A signed good health statement may be requested by a life producer at t
d d d d d d d d d d d d d
he time of - answers>Policy Delivery
d d d d d
4. Carol purchases a whole life policy that provides a choice of dividend
d d d d d d d d d d d
options. This policy is required to include a statement that the dividends a
d d d d d d d d d d d d
re - answers>Not Guaranteeed
d d d
5. Tim is confined to a nursing home but doesn't have a terminal illness.
d d d d d d d d d d d d
Which life insurance rider is designed to help pay for this type of expense?
d d d d d d d d d d d d d
- answers>Long-term care benefit rider d d d
6. An insured is covered under a group long-
d d d d d d d
term disability policy. Under this type of policy, the definition of disability
d d d d d d d d d d d d
based on any occupation d d d
typically applies - answers>After two years of disability
d d d d d d d
7. Sylvia purchased an annuity for $100,000 from the proceeds of an
d d d d d d d d d d
inheritance. No further payments are permitted and the income stream
d d d d d d d d d
1
,[Date]
,NYS Life, accident, and health insurance Exam
d d d d d d
Questions and Answers Latest Updated 2024 d d d d d
begins in 15 years. This contract is a(n) -
d d d d d d d d
answers>Single premium deferred annuity
d d d d
8. Which of these is NOT a factor that influences group health insurance
d d d d d d d d d d d d
underwriting? - answers>Physical exams of group members d d d d d d
9. What is the grace period required for an individual accident and health i
d d d d d d d d d d d d
nsurance policy with monthly premiums? - answers>10 days
d d d d d d d
10. In regards to technology and the ACA, which of the following statements i
d d d d d d d d d d d d
s correct? -
d d
d answers>States which operate with an Exchange must offer an internet- d d d d d d d d d
based portal d
11. Insurable interest involves what assumption? -
d d d d d
d answers>One person benefits from another person's continued life
d d d d d d d
12. Which of these policies is considered a whole life policy? -
d d d d d d d d d d
answers>Single premium life d d
13. Which of the following would be considered an unfair claims settlement p
d d d d d d d d d d d
ractice? - d
danswers>Misrepresenting pertinent policy provisions relating to coverag d d d d d d
e after a loss
d d d
14. A policyowner is permitted to take out a policy loan on a whole life policy
d d d d d d d d d d d d d d d
at what point? - answers>When the policy has a cash value
d d d d d d d d d d
2
, [Date]
