XCEL NYS Exam Simulator
XCEL NYS EXAM SIMULATOR INCLUDES ACCURATE AND VERIFIED
QUESTIONS TAILORED FOR LIFE, HEALTH, PROPERTY, AND CASUALTY
INSURANCE LICENSING EXAMS ACROSS VARIOUS STATES.
What enables applicants to compare different life insurance policies and helps them choose
which policy is best for their needs? - ANSWER-Buyer's Guide
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's
benefits must - ANSWER-be the same and the premium cannot exceed 102%
The open enrollment period for Medicare Supplements begins at age - ANSWER-65
Which type of policy combines the flexibility of a universal life policy with investment choices? -
ANSWER-Variable universal life policy
Field underwriting performed by the producer involves - ANSWER-completing the application
and collecting initial premium
Karen is a producer who has obtained personal information about a client without having a
legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for
this? - ANSWER-$10,000
In group health care, what is the purpose of the coordination of benefits provision? - ANSWER-
Determines what is paid by the primary and secondary insurers in the event of a claim
An example of endodontic treatment is a - ANSWER-root canal
Underwriters can acquire information from all of the following sources EXCEPT? - ANSWER-
genetic testing
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, XCEL NYS Exam Simulator
Insurable interest does NOT occur in which of the following relationships? - ANSWER-Business
owner and business client
Which of the following is an annuity that is linked to a market-related index? - ANSWER-Equity-
indexed annuity
Upon policy delivery, which of the following must a producer have an applicant sign if no initial
premium was collected with the life insurance application? - ANSWER-A good health statement
A payment system for health care in which the provider is paid for each service given is called -
ANSWER-fee-for-service
An insurance company needs to obtain personal information from a third party concerning an
applicant. Which law doe insurers and their producers need to comply with? - ANSWER-Fair
Credit Reporting Act
Mike has inherited his father's traditional IRA. As beneficiary, he will pay ____ taxes on any
money withdrawn. - ANSWER-income
An insurer's ability to make unpredictable payouts to policyowners is called - ANSWER-liquidity
"Maximum benefits" refers to the - ANSWER-upper limit of the total lifetime benefits the
insurance company will pay
Maria would like an annuity that provides a guaranteed accumulation or payout. The type of
annuity she is seeking is called - ANSWER-annuity certain
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, XCEL NYS Exam Simulator
A professional liability for which producers can be sued for mistakes of putting a policy into
effect is called - ANSWER-errors and omissions
Which of the following enables a life policy to be replaced with another life policy and results in
the postponement of the tax consequence? - ANSWER-Section 1035 exchange
When the principal gives the agent authority in writing, it's referred to as - ANSWER-express
authority
An HMO that involves a partnership of physicians and other providers who practice out of a
central facility is called a(n) - ANSWER-group HMO
All of the following are core benefits of Medicare Supplement Plan A EXCEPT - ANSWER-
Deductible payments for the first 60 days of hospitalization under Medicare hospitalization
insurance
In New York, a Medicare Supplement policy must be ______ renewable. - ANSWER-guaranteed
An agent who sells an individual life insurance policy in Washington MUST deliver to the
policyowner a(n) - ANSWER-Policy Summary and Buyer's Guide
The Fair Credit Reporting Act protects consumers - ANSWER-with guidelines regarding credit
reporting and distribution
Health insurance will typically cover which of the following perils? - ANSWER-Injury due to
accident
How many employees must an employer have for a terminated employee to be eligible for
COBRA? - ANSWER-20
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XCEL NYS EXAM SIMULATOR INCLUDES ACCURATE AND VERIFIED
QUESTIONS TAILORED FOR LIFE, HEALTH, PROPERTY, AND CASUALTY
INSURANCE LICENSING EXAMS ACROSS VARIOUS STATES.
What enables applicants to compare different life insurance policies and helps them choose
which policy is best for their needs? - ANSWER-Buyer's Guide
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's
benefits must - ANSWER-be the same and the premium cannot exceed 102%
The open enrollment period for Medicare Supplements begins at age - ANSWER-65
Which type of policy combines the flexibility of a universal life policy with investment choices? -
ANSWER-Variable universal life policy
Field underwriting performed by the producer involves - ANSWER-completing the application
and collecting initial premium
Karen is a producer who has obtained personal information about a client without having a
legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for
this? - ANSWER-$10,000
In group health care, what is the purpose of the coordination of benefits provision? - ANSWER-
Determines what is paid by the primary and secondary insurers in the event of a claim
An example of endodontic treatment is a - ANSWER-root canal
Underwriters can acquire information from all of the following sources EXCEPT? - ANSWER-
genetic testing
1|Page
, XCEL NYS Exam Simulator
Insurable interest does NOT occur in which of the following relationships? - ANSWER-Business
owner and business client
Which of the following is an annuity that is linked to a market-related index? - ANSWER-Equity-
indexed annuity
Upon policy delivery, which of the following must a producer have an applicant sign if no initial
premium was collected with the life insurance application? - ANSWER-A good health statement
A payment system for health care in which the provider is paid for each service given is called -
ANSWER-fee-for-service
An insurance company needs to obtain personal information from a third party concerning an
applicant. Which law doe insurers and their producers need to comply with? - ANSWER-Fair
Credit Reporting Act
Mike has inherited his father's traditional IRA. As beneficiary, he will pay ____ taxes on any
money withdrawn. - ANSWER-income
An insurer's ability to make unpredictable payouts to policyowners is called - ANSWER-liquidity
"Maximum benefits" refers to the - ANSWER-upper limit of the total lifetime benefits the
insurance company will pay
Maria would like an annuity that provides a guaranteed accumulation or payout. The type of
annuity she is seeking is called - ANSWER-annuity certain
2|Page
, XCEL NYS Exam Simulator
A professional liability for which producers can be sued for mistakes of putting a policy into
effect is called - ANSWER-errors and omissions
Which of the following enables a life policy to be replaced with another life policy and results in
the postponement of the tax consequence? - ANSWER-Section 1035 exchange
When the principal gives the agent authority in writing, it's referred to as - ANSWER-express
authority
An HMO that involves a partnership of physicians and other providers who practice out of a
central facility is called a(n) - ANSWER-group HMO
All of the following are core benefits of Medicare Supplement Plan A EXCEPT - ANSWER-
Deductible payments for the first 60 days of hospitalization under Medicare hospitalization
insurance
In New York, a Medicare Supplement policy must be ______ renewable. - ANSWER-guaranteed
An agent who sells an individual life insurance policy in Washington MUST deliver to the
policyowner a(n) - ANSWER-Policy Summary and Buyer's Guide
The Fair Credit Reporting Act protects consumers - ANSWER-with guidelines regarding credit
reporting and distribution
Health insurance will typically cover which of the following perils? - ANSWER-Injury due to
accident
How many employees must an employer have for a terminated employee to be eligible for
COBRA? - ANSWER-20
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