NYS Life, Accident, And Health Insurance TESTS COMPILATION BUNDLE

Sally is considering her Medicare options. She understands that to enroll in Medicare Part B, she will have to pay a monthly premium. Since she is healthy, she is considering delaying her enrollment until later. Will she be able to enroll at a later date? 1.Yes, she can enroll at anytime in the futu...

Multiple Employer Welfare Arrangement (MEWA) provides what type of benefits? Correct Answer: Insurance XYZ Company pays the entire premium for its group health plan. The MINIMUM percentage of eligible employees that must be covered is Correct Answer: 100% In Major Medical Expense policies, w...

Basic Medical Expense policies Correct Answer: Provide coverage for Hospital, Surgical and Physicians Medical Expense. -Purchased as a individual or group policy. -provide first dollar coverage (no deductibles). -limited benefit periods and low coverage limits. Major Medical Expense Policy C...

Which is an ACCURATE statement regarding benefits of Medicare supplement and Medicare select plans? 1 The insurer is able to cancel, or deny renewal of an existing policy, based solely on the health of the insured. 2 There is no restriction for benefits after the coverage has been in effect fo...

which is an INACCURATE statement regarding underwriting based on genetic testing? 1. the proposed insured must pay for the cost of testing 2. the proposed insured must provided informed consent prior to testing 3. the test results can be provided to the proposed insured, or the their physician to...

Group Insurance Correct Answer: - the employer is the owner and receives the master contract - the employees are certificate holders which outlines the details of it - underwriting is much more liberal because its a large group and probably wont have adverse selection - if you want t...

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

Process 2103 (d-i) Correct 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 secti...

Which policy provision permits the policy owner to take a specified number of days to examine the contract, and allows for cancellation and a full refund if the policy owner rejects the terms or costs? Correct Answer: Free Look When will a policy pay on a UCR basis? Correct Answer: When particu...

Which policy provision permits the policy owner to take a specified number of days to examine the contract, and allows for cancellation and a full refund if the policy owner rejects the terms or costs? Correct Answer: Free Look When will a policy pay on a UCR basis? Correct Answer: When particu...

Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? Correct Answer: Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender....

Under what circumstance does an accident and health insurer have the right to request an autopsy? 1. When the claim exceeds an amount specified in the policy 2. When 2 days have passed after death 3. When not prohibited by state law 4. When consent is given by the beneficiary Correct A...

4 Correct Answer: A Licensed broker who participates in a national insurance association may get, from the Commissioner, how many continuing education credits? Producer, with the applicant's initials Correct Answer: Who is allowed to make changes to the application? The average age of the g...

In which of the following instances would the premium be tax deductible? Correct Answer: Premiums paid by an employer on a $30,000 group term life insurance plan for employees The provision in a health insurance policy that ensures that the insurer cannot refer to any document that is not contai...