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NYS LIFE, ACCIDENT, AND
HEALTH INSURANCE EXA M
ALREADY GRADED A+
Question : 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 : How many days notice does the ACA require
insurers to give before rescinding coverage?
Correct answer: 30
Question : A signed good health statement may be
requested by a life producer at the time of
Correct answer: Policy Delivery
Question : 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
Correct answer: Not Guaranteeed
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Question : 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 : 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 : 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
Question : Which of these is NOT a factor that influences
group health insurance underwriting?
Correct answer: Physical exams of group members
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Question : What is the grace period required for an
individual accident and health insurance policy with monthly premiums?
Correct answer: 10 days
Question : In regards to technology and the ACA, which
of the following statements is correct?
Correct answer: States which operate with an Exchange
must offer an internet-based portal
Question : Insurable interest involves what assumption?
Correct answer: One person benefits from another
person's continued life
Question : Which of these policies is considered a whole
life policy?
Correct answer: Single premium life
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Question : Which of the following would be considered
an unfair claims settlement practice?
Correct answer: Misrepresenting pertinent policy
provisions relating to coverage after a loss
Question : A policyowner is permitted to take out a policy
loan on a whole life policy at what point?
Correct answer: When the policy has a cash value
Question : Which of these is NOT a factor during the
health insurance underwriting process?
Correct answer: Former residence
Question : New York workers compensation laws exclude
benefits for disabilities caused by
Correct answer: Intentional, self-inflicted injuries
occurring on the job
Question : When premiums are determined, one factor
would be the expenses of the
