NY LIFE ACCIDENT AND HEALTH INSURANCE
AGENT BROKER EXAM ACTUAL EXAM 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ Accident. Answer: An unplanned, unforeseen event which occurs
suddenly and at an unspecified place. Accident Insurance - A type of
insurance that protects the insured against loss due to accidental
bodily injury.
◉ Accidental Bodily Injury. Answer: Unplanned, unforeseen
traumatic injury to the body.
◉ Accidental Death and Dismemberment (AD&D). Answer: An
insurance policy which pays a specified amount or a specified
multiple of the insured's benefit if the insured dies, loses his/her
sight, or loses two limbs due to an accident.
◉ Accidental Death Benefits. Answer: A policy rider that states that
the cause of death will be analyzed to determine if it complies with
the policy description of accidental death.
◉ Accidental Death Insurance. Answer: An insurance policy that
provides payment if the insured's death is the result of an accident.
,◉ Accumulation Period. Answer: The time over which the annuitant
makes payments or investments in an annuity, and when those
payments earn interest tax deferred.
◉ Acquired Immunodeficiency Syndrome (AIDS). Answer: An
infectious and incurable disease caused by the human
immunodeficiency virus (HIV).
◉ Activities of Daily Living (ADLs). Answer: Activities individuals
must do every day such as moving about, getting dressed, eating,
bathing, etc.
◉ Actual Cash Value (ACV). Answer: The required amount to pay
damages or for property loss, which is calculated based on the
property's current replacement value minus depreciation.
◉ Actual Charge. Answer: The amount a physician or supplier
actually bills for a particular service or supply. Actuary - A person
trained in the technical aspects of insurance and related fields,
particularly in the mathematics of insurance; a person who, on
behalf of the company, determines the mathematical probability of
loss.
◉ Adhesion. Answer: A contract offered on a "take-it-or-leave-it"
basis by an insurer, in which the insured's only option is to accept or
,reject the contract. Any ambiguities in the contract will be settled in
favor of the insured.
◉ Adjustable Life. Answer: Life insurance which permits changes in
the face amount, premium amount, period of protection, and the
duration of the premium payment period.
◉ Adjuster. Answer: A representative of an insurance company who
investigates and acts on the behalf of the company to obtain
agreements for the amount of the insurance claim.
◉ Administrator. Answer: An individual appointed by a court as a
fiduciary to settle the financial affairs and estate of a deceased
person.
◉ Admitted (Authorized) Insurer. Answer: An insurance company
authorized and licensed to transact business in a particular state.
◉ Adult Day Care. Answer: A program for impaired adults that
attempts to meet their health, social, and functional needs in a
setting away from their homes.
◉ Adverse Selection. Answer: The tendency of risks with higher
probability of loss to purchase and maintain insurance more often
than the risks who present lower probability.
, ◉ Agency. Answer: An insurance sales office or company.
◉ Agent. Answer: An individual who is licensed to sell, negotiate, or
effect insurance contracts on behalf of an insurer.
◉ Agent's Authority. Answer: Special powers granted to an agent by
his or her agency contract. Aleatory - A contract in which
participating parties exchange unequal amounts. Insurance
contracts are aleatory in that the amount the insured will pay in
premiums is unequal to the amount the insurer will pay in the event
of a loss.
◉ Alien Insurer. Answer: An insurance company that is incorporated
outside the United States. Alzheimer's Disease - A disease that
causes the victim to become dysfunctional due to degeneration of
brain cells causing severe memory loss.
◉ Ancillary. Answer: Additional, miscellaneous services provided by
a hospital, such as x-rays, anesthesia, and lab work, but not hospital
room and board expenses.
◉ Annual Statement. Answer: A detailed financial report that an
insurance company must submit every year to the insurance
department of state(s) in which it conducts business.
AGENT BROKER EXAM ACTUAL EXAM 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ Accident. Answer: An unplanned, unforeseen event which occurs
suddenly and at an unspecified place. Accident Insurance - A type of
insurance that protects the insured against loss due to accidental
bodily injury.
◉ Accidental Bodily Injury. Answer: Unplanned, unforeseen
traumatic injury to the body.
◉ Accidental Death and Dismemberment (AD&D). Answer: An
insurance policy which pays a specified amount or a specified
multiple of the insured's benefit if the insured dies, loses his/her
sight, or loses two limbs due to an accident.
◉ Accidental Death Benefits. Answer: A policy rider that states that
the cause of death will be analyzed to determine if it complies with
the policy description of accidental death.
◉ Accidental Death Insurance. Answer: An insurance policy that
provides payment if the insured's death is the result of an accident.
,◉ Accumulation Period. Answer: The time over which the annuitant
makes payments or investments in an annuity, and when those
payments earn interest tax deferred.
◉ Acquired Immunodeficiency Syndrome (AIDS). Answer: An
infectious and incurable disease caused by the human
immunodeficiency virus (HIV).
◉ Activities of Daily Living (ADLs). Answer: Activities individuals
must do every day such as moving about, getting dressed, eating,
bathing, etc.
◉ Actual Cash Value (ACV). Answer: The required amount to pay
damages or for property loss, which is calculated based on the
property's current replacement value minus depreciation.
◉ Actual Charge. Answer: The amount a physician or supplier
actually bills for a particular service or supply. Actuary - A person
trained in the technical aspects of insurance and related fields,
particularly in the mathematics of insurance; a person who, on
behalf of the company, determines the mathematical probability of
loss.
◉ Adhesion. Answer: A contract offered on a "take-it-or-leave-it"
basis by an insurer, in which the insured's only option is to accept or
,reject the contract. Any ambiguities in the contract will be settled in
favor of the insured.
◉ Adjustable Life. Answer: Life insurance which permits changes in
the face amount, premium amount, period of protection, and the
duration of the premium payment period.
◉ Adjuster. Answer: A representative of an insurance company who
investigates and acts on the behalf of the company to obtain
agreements for the amount of the insurance claim.
◉ Administrator. Answer: An individual appointed by a court as a
fiduciary to settle the financial affairs and estate of a deceased
person.
◉ Admitted (Authorized) Insurer. Answer: An insurance company
authorized and licensed to transact business in a particular state.
◉ Adult Day Care. Answer: A program for impaired adults that
attempts to meet their health, social, and functional needs in a
setting away from their homes.
◉ Adverse Selection. Answer: The tendency of risks with higher
probability of loss to purchase and maintain insurance more often
than the risks who present lower probability.
, ◉ Agency. Answer: An insurance sales office or company.
◉ Agent. Answer: An individual who is licensed to sell, negotiate, or
effect insurance contracts on behalf of an insurer.
◉ Agent's Authority. Answer: Special powers granted to an agent by
his or her agency contract. Aleatory - A contract in which
participating parties exchange unequal amounts. Insurance
contracts are aleatory in that the amount the insured will pay in
premiums is unequal to the amount the insurer will pay in the event
of a loss.
◉ Alien Insurer. Answer: An insurance company that is incorporated
outside the United States. Alzheimer's Disease - A disease that
causes the victim to become dysfunctional due to degeneration of
brain cells causing severe memory loss.
◉ Ancillary. Answer: Additional, miscellaneous services provided by
a hospital, such as x-rays, anesthesia, and lab work, but not hospital
room and board expenses.
◉ Annual Statement. Answer: A detailed financial report that an
insurance company must submit every year to the insurance
department of state(s) in which it conducts business.
