NYS Life, accident, and health insurance Exam/NYS Life, Accident, and Health State Exam Simulator/New York Personal Lines Final Exam/Practice exam - New York Life Only/New York State Property and Casualty Insurance Exam/Pre-Final Exam - New York Life, Acc

Which of the following can be defined as "the potential for loss"? - Answer- Risk Which of the following describes the act of insuring a risk against possible loss? - Answer- Risk Transfer A description of a qualified plan's insurance contract may be found in which ERISA reporting form? - A...

A passenger is injured while getting into a friends car. Which of the following statements would apply if both the passenger and the driver had medical payments coverage under the auto policy. - Answer- The drivers policy would be primary. Adverse selection is a concept best described as: - Answe...

What does a 401(k) plan generally provide its participants? - Answer- Salary-deferral option When using the needs approach for life insurance planning, A lump sum on may be created to provide for all of the following EXCEPT - Answer- employee benefits What are premiums for a group credit life ...

Physical damage coverage under a garage policy is a blanket limit for covered auto, an accurate statement? - Answer- Yes; The dealer's physical damage limit would be done on a blanket limit basis. This would apply to comprehensive and collision losses to the auto inventory of the dealer. This is do...

What happens when an initial offer is answered with a counteroffer? - Answer- Initial offer is void According to the Affordable Care Act (ACA), dependent children may remain on their parent's plan until what age? - Answer- Age 26 The premiums paid by an employer for his employee's group life...

Process 2103 (d-i) - Answer- 1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this section and ...