New York State Life Insurance Series 17-
51 2025/2026 Exam Questions and
Verified Answers | Already Graded A+
Dividends - 🧠ANSWER ✔✔are considered a return of unearned premium which is
why are they are paid out income tax free.
24 - 🧠ANSWER ✔✔Accelerated Death Benefit
The prognosis of a physician must be a life expectancy of ___ months or less.
The individual states - 🧠ANSWER ✔✔Highest authority for insurance regulation.
No interference from federal regulation, unless federal law specifically provides
otherwise.
Fixed Annuities payments are level - 🧠ANSWER ✔✔Premiums are allocated to
the insurer's general account. The insurer has the investment risk, and fixed
annuities pay out a fixed level income benefit payment.
,Market Value Adjustment Annuity - 🧠ANSWER ✔✔an annuity product that
features fixed interest rate guarantees combined with an interest rate adjustment
factor that can cause the surrender value to fluctuate in response to market
conditions.
2 years or less - 🧠ANSWER ✔✔Viatical Settlement life expectancy
Pre-need - 🧠ANSWER ✔✔A type of coverage with a small face amount, typically
purchased to pay the burial expenses of the insured is called ____.
Option B - 🧠ANSWER ✔✔With an _____ death benefit, the beneficiary will
receive the face amount plus the cash value as of the date of death.
Option A - 🧠ANSWER ✔✔Pays the face amount of the policy and provides a level
death benefit. As the cash value increases, the company's risk decreases. A
universal life policy must include an amount at risk. If the cash value approaches
the face amount, the death benefit must increase so as to provide for this amount at
risk. This minimum separation between the cash value and the death benefit is
called the "risk corridor." This corridor of insurance is automatic and does not
require insurability. This prevents the policy from maturing too early. Pays the face
amount of the policy and provides a level death benefit. As the cash value
increases, the company's risk decreases. A universal life policy must include an
, amount at risk. If the cash value approaches the face amount, the death benefit
must increase so as to provide for this amount at risk. This minimum separation
between the cash value and the death benefit is called the "risk corridor." This
corridor of insurance is automatic and does not require insurability. This prevents
the policy from maturing too early.
Fair Credit Reporting Act (FCRA) - 🧠ANSWER ✔✔An insurance company must
adhere to the __________ when gathering information about an applicant from
third parties.
Entity Purchase Plan - 🧠ANSWER ✔✔The business enters into an agreement to
purchase the deceased's interest in the business
conditional - 🧠ANSWER ✔✔When both parties must perform certain duties and
follow certain rules of conduct to make a contract enforceable, this is known as
a(n) __________ contract.
Buy-sell agreement life insurance premiums are: - 🧠ANSWER ✔✔Not deductible
and proceeds are income tax free
Credit Life Insurance - 🧠ANSWER ✔✔This insurance is normally Decreasing
Term and the amount of insurance reduces as the obligation reduces
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
3
STATEMENT. ALL RIGHTS RESERVED
51 2025/2026 Exam Questions and
Verified Answers | Already Graded A+
Dividends - 🧠ANSWER ✔✔are considered a return of unearned premium which is
why are they are paid out income tax free.
24 - 🧠ANSWER ✔✔Accelerated Death Benefit
The prognosis of a physician must be a life expectancy of ___ months or less.
The individual states - 🧠ANSWER ✔✔Highest authority for insurance regulation.
No interference from federal regulation, unless federal law specifically provides
otherwise.
Fixed Annuities payments are level - 🧠ANSWER ✔✔Premiums are allocated to
the insurer's general account. The insurer has the investment risk, and fixed
annuities pay out a fixed level income benefit payment.
,Market Value Adjustment Annuity - 🧠ANSWER ✔✔an annuity product that
features fixed interest rate guarantees combined with an interest rate adjustment
factor that can cause the surrender value to fluctuate in response to market
conditions.
2 years or less - 🧠ANSWER ✔✔Viatical Settlement life expectancy
Pre-need - 🧠ANSWER ✔✔A type of coverage with a small face amount, typically
purchased to pay the burial expenses of the insured is called ____.
Option B - 🧠ANSWER ✔✔With an _____ death benefit, the beneficiary will
receive the face amount plus the cash value as of the date of death.
Option A - 🧠ANSWER ✔✔Pays the face amount of the policy and provides a level
death benefit. As the cash value increases, the company's risk decreases. A
universal life policy must include an amount at risk. If the cash value approaches
the face amount, the death benefit must increase so as to provide for this amount at
risk. This minimum separation between the cash value and the death benefit is
called the "risk corridor." This corridor of insurance is automatic and does not
require insurability. This prevents the policy from maturing too early. Pays the face
amount of the policy and provides a level death benefit. As the cash value
increases, the company's risk decreases. A universal life policy must include an
, amount at risk. If the cash value approaches the face amount, the death benefit
must increase so as to provide for this amount at risk. This minimum separation
between the cash value and the death benefit is called the "risk corridor." This
corridor of insurance is automatic and does not require insurability. This prevents
the policy from maturing too early.
Fair Credit Reporting Act (FCRA) - 🧠ANSWER ✔✔An insurance company must
adhere to the __________ when gathering information about an applicant from
third parties.
Entity Purchase Plan - 🧠ANSWER ✔✔The business enters into an agreement to
purchase the deceased's interest in the business
conditional - 🧠ANSWER ✔✔When both parties must perform certain duties and
follow certain rules of conduct to make a contract enforceable, this is known as
a(n) __________ contract.
Buy-sell agreement life insurance premiums are: - 🧠ANSWER ✔✔Not deductible
and proceeds are income tax free
Credit Life Insurance - 🧠ANSWER ✔✔This insurance is normally Decreasing
Term and the amount of insurance reduces as the obligation reduces
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
3
STATEMENT. ALL RIGHTS RESERVED
