NY LIFE ACCIDENT AND HEALTH INSURANCE
AGENT BROKER EXAM COMPREHENSIVE EXAM
2026
◉ Concealment. Answer: The withholding of known facts which, if
material, can void a contract. Conditional Contract - A type of an
agreement in which both parties must perform certain duties and
follow rules of conduct to make the contract enforceable.
◉ Consideration. Answer: The binding force in a contract that
requires something of value to be exchanged for the transfer of risk.
The consideration on the part of the insured is the representations
made in the application and the payment of premium; the
consideration on the part of the insurer is the promise to pay in the
event of loss.
◉ Consideration Clause. Answer: A part of the insurance contract
that states that both parties must give something of value for the
transfer of risk, and specifies the conditions of the exchange.
◉ Consolidated Omnibus Budget Reconciliation Act (COBRA) of
1986. Answer: The law that provides for the continuation of group
health care benefits for the insured for up to 18 months if he/she
terminates employment or is no longer eligible, and for the insured's
,dependents for up to 36 months in cases of loss of eligibility due to
death of the insured, divorce, or attainment of the limiting age.
◉ Consumer Reports. Answer: Written and /or oral statements
regarding a consumer's credit, character, reputation, or habits
collected by a reporting agency from employment records, credit
reports, and other public sources.
◉ Contract. Answer: An agreement between two or more parties
enforceable by law.
◉ Contributory. Answer: A group insurance plan that requires the
employees to pay part of the premium. Controlled Business - An
entity that obtains and possesses a license solely for the purpose of
writing business on the owner, immediate family, relatives, employer
and employees.
◉ Convertible. Answer: A policy that may be exchanged for another
type of policy by contractual provision, at the option of the
policyowner, and without evidence of insurability (i.e. term life
changed to a form of permanent life).
◉ Coordination of Benefits. Answer: A provision that helps
determine the primary provider in situations where an insured is
covered by more than one policy, thus avoiding claims
overpayments.
,◉ Co pay. Answer: An arrangement in which an insured must pay a
specified amount for services "up front" and the provider pays the
remainder of the cost.
◉ Countersignature. Answer: The act of signing an insurance policy
by a licensed resident agent.
◉ Coverage. Answer: The inclusion of causes of loss (perils) which
are covered within a scope of a policy. Credit Life Insurance - A
special type of coverage written to pay off the balance of a loan in
the event of the death of the debtor.
◉ CSO Table. Answer: (The Commissioner's Standard Ordinary
Table) A mortality table used in life insurance that mathematically
predicts the likelihood of death.
◉ Custodial Care-Care that is rendered to help an insured complete
his/her activities of daily living.. Answer:
◉ Death Benefit. Answer: The amount payable upon the death of the
person whose life is insured.
, ◉ Decreasing Term. Answer: A type of life insurance that features a
level premium and a death benefit that decreases each year over the
duration of the policy.
◉ Deductible. Answer: The portion of the loss that is to be paid by
the insured before any claim benefits may be paid by the insurer.
◉ Defamation. Answer: An unfair trade practice in which one agent
or insurer makes an injurious statement about another with the
intent of harming the person's or company's reputation.
◉ Dependent. Answer: A person who relies on another for support
and maintenance.
◉ Director (Commissioner, Superintendent). Answer: The head of
the state department of insurance.
◉ Disability. Answer: A physical or mental impairment, either
congenital or resulting from an injury or sickness.
◉ Disability Income Insurance. Answer: Health insurance that
provides periodic payments to replace an insured's income when
he/she is injured or ill.
AGENT BROKER EXAM COMPREHENSIVE EXAM
2026
◉ Concealment. Answer: The withholding of known facts which, if
material, can void a contract. Conditional Contract - A type of an
agreement in which both parties must perform certain duties and
follow rules of conduct to make the contract enforceable.
◉ Consideration. Answer: The binding force in a contract that
requires something of value to be exchanged for the transfer of risk.
The consideration on the part of the insured is the representations
made in the application and the payment of premium; the
consideration on the part of the insurer is the promise to pay in the
event of loss.
◉ Consideration Clause. Answer: A part of the insurance contract
that states that both parties must give something of value for the
transfer of risk, and specifies the conditions of the exchange.
◉ Consolidated Omnibus Budget Reconciliation Act (COBRA) of
1986. Answer: The law that provides for the continuation of group
health care benefits for the insured for up to 18 months if he/she
terminates employment or is no longer eligible, and for the insured's
,dependents for up to 36 months in cases of loss of eligibility due to
death of the insured, divorce, or attainment of the limiting age.
◉ Consumer Reports. Answer: Written and /or oral statements
regarding a consumer's credit, character, reputation, or habits
collected by a reporting agency from employment records, credit
reports, and other public sources.
◉ Contract. Answer: An agreement between two or more parties
enforceable by law.
◉ Contributory. Answer: A group insurance plan that requires the
employees to pay part of the premium. Controlled Business - An
entity that obtains and possesses a license solely for the purpose of
writing business on the owner, immediate family, relatives, employer
and employees.
◉ Convertible. Answer: A policy that may be exchanged for another
type of policy by contractual provision, at the option of the
policyowner, and without evidence of insurability (i.e. term life
changed to a form of permanent life).
◉ Coordination of Benefits. Answer: A provision that helps
determine the primary provider in situations where an insured is
covered by more than one policy, thus avoiding claims
overpayments.
,◉ Co pay. Answer: An arrangement in which an insured must pay a
specified amount for services "up front" and the provider pays the
remainder of the cost.
◉ Countersignature. Answer: The act of signing an insurance policy
by a licensed resident agent.
◉ Coverage. Answer: The inclusion of causes of loss (perils) which
are covered within a scope of a policy. Credit Life Insurance - A
special type of coverage written to pay off the balance of a loan in
the event of the death of the debtor.
◉ CSO Table. Answer: (The Commissioner's Standard Ordinary
Table) A mortality table used in life insurance that mathematically
predicts the likelihood of death.
◉ Custodial Care-Care that is rendered to help an insured complete
his/her activities of daily living.. Answer:
◉ Death Benefit. Answer: The amount payable upon the death of the
person whose life is insured.
, ◉ Decreasing Term. Answer: A type of life insurance that features a
level premium and a death benefit that decreases each year over the
duration of the policy.
◉ Deductible. Answer: The portion of the loss that is to be paid by
the insured before any claim benefits may be paid by the insurer.
◉ Defamation. Answer: An unfair trade practice in which one agent
or insurer makes an injurious statement about another with the
intent of harming the person's or company's reputation.
◉ Dependent. Answer: A person who relies on another for support
and maintenance.
◉ Director (Commissioner, Superintendent). Answer: The head of
the state department of insurance.
◉ Disability. Answer: A physical or mental impairment, either
congenital or resulting from an injury or sickness.
◉ Disability Income Insurance. Answer: Health insurance that
provides periodic payments to replace an insured's income when
he/she is injured or ill.
