NEW YORK STATE LIFE INSURANCE SERIES 17-51 EXAM
NEWEST 2025/2026 WITH COMPLETE QUESTIONS AND CORRECT
ANSWERS |ALREADY GRADED A+||BRAND NEW VERSION!
Dividends - CORRECT ANSWER-are considered a return of unearned premium which is why are
they are paid out income tax free.
24 - CORRECT ANSWER-Accelerated Death Benefit
The prognosis of a physician must be a life expectancy of ___ months or less.
The individual states - CORRECT ANSWER-Highest authority for insurance regulation. No
interference from federal regulation, unless federal law specifically provides otherwise.
Fixed Annuities payments are level - CORRECT 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 - CORRECT 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 - CORRECT ANSWER-Viatical Settlement life expectancy
Pre-need - CORRECT ANSWER-A type of coverage with a small face amount, typically purchased
to pay the burial expenses of the insured is called ____.
Option B - CORRECT ANSWER-With an _____ death benefit, the beneficiary will receive the face
amount plus the cash value as of the date of death.
Option A - CORRECT 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) - CORRECT ANSWER-An insurance company must adhere to
the __________ when gathering information about an applicant from third parties.
Entity Purchase Plan - CORRECT ANSWER-The business enters into an agreement to purchase
the deceased's interest in the business
conditional - CORRECT 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: - CORRECT ANSWER-Not deductible and
proceeds are income tax free
NEWEST 2025/2026 WITH COMPLETE QUESTIONS AND CORRECT
ANSWERS |ALREADY GRADED A+||BRAND NEW VERSION!
Dividends - CORRECT ANSWER-are considered a return of unearned premium which is why are
they are paid out income tax free.
24 - CORRECT ANSWER-Accelerated Death Benefit
The prognosis of a physician must be a life expectancy of ___ months or less.
The individual states - CORRECT ANSWER-Highest authority for insurance regulation. No
interference from federal regulation, unless federal law specifically provides otherwise.
Fixed Annuities payments are level - CORRECT 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 - CORRECT 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 - CORRECT ANSWER-Viatical Settlement life expectancy
Pre-need - CORRECT ANSWER-A type of coverage with a small face amount, typically purchased
to pay the burial expenses of the insured is called ____.
Option B - CORRECT ANSWER-With an _____ death benefit, the beneficiary will receive the face
amount plus the cash value as of the date of death.
Option A - CORRECT 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) - CORRECT ANSWER-An insurance company must adhere to
the __________ when gathering information about an applicant from third parties.
Entity Purchase Plan - CORRECT ANSWER-The business enters into an agreement to purchase
the deceased's interest in the business
conditional - CORRECT 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: - CORRECT ANSWER-Not deductible and
proceeds are income tax free
