NY Life, Accident, And Health Insurance

• | Page

NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55| 200 QUESTIONS|

GRADED A

Question 1: Which type of life insurance policy is best suited for

paying off the outstanding balance of a 30-year mortgage in the event of the insured's death?

CORRECT ANSWER : 30-year decreasing term.

Question 2: How many days notice does the ACA require

insurers to give before rescinding coverage?

CORRECT ANSWER : 30

Question 3: A signed good health statement may be requested

by a life producer at the time of

CORRECT ANSWER : Policy Delivery

Question 4: Carol purchases a whole life policy that provides a

choice of dividend options. This policy is required to include a statement that the dividends are

• | Page

CORRECT ANSWER : Not Guaranteed

Question 5: Tim is confined to a nursing home but doesn't have

a terminal illness. Which life insurance rider is designed to help pay for this type of expense?

CORRECT ANSWER : Long-term care benefit rider

Question 6: An insured is covered under a group long-term

disability policy. Under this type of policy, the definition of disability based on any occupation typically applies

CORRECT ANSWER : After two years of disability

Question 7: Sylvia purchased an annuity for $100,000 from the

proceeds of an inheritance. No further payments are permitted and the income stream begins in 15 years. This contract is a(n)

CORRECT ANSWER : Single premium deferred annuity

• | Page

Question 8: Which of these is NOT a factor that influences

group health insurance underwriting?

• Physical exams of group members
• Age of group members
• Health history of group members
• Occupation of group members

CORRECT ANSWER : A) Physical exams of group members

Question 9: What is the grace period required for an individual

accident and health insurance policy with monthly premiums?

CORRECT ANSWER : 10 days

Question 10: In regards to technology and the ACA, which of

the following statements is correct?

• States which operate with an Exchange must offer an

internet-based portal

• Insurers are not required to provide online enrollment
• The ACA prohibits the use of telehealth services
• All states must use a federal Exchange portal

• | Page

CORRECT ANSWER : A) States which operate with an

Exchange must offer an internet-based portal

Question 11: Insurable interest involves what assumption?

CORRECT ANSWER : One person benefits from another

person's continued life

Question 12: Which of these policies is considered a whole life

policy?

• Term life
• Single premium life
• Variable life
• Universal life

CORRECT ANSWER : B) Single premium life

Question 13: Which of the following would be considered an

unfair claims settlement practice?

• Promptly paying claims