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NYS rules and regulations pertinent to life insurance 2024/2025 graded A+ by experts $13.49
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NYS rules and regulations pertinent to life insurance 2024/2025 graded A+ by experts
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NYS rules and regulations pertinent to life insurance 2024/2025 graded A+ by experts

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  • March 7, 2024
  • 26
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • accident and health insurance agent
  • in regards to technology and the aca which of th
  • when initially issued a temporary producer licens
  • a policyowner has decided to replace an existing l

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  • Accident And Health Insurance Agent
  • Accident And Health Insurance Agent

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NYS rules and regulations pertinent to
life insurance

In regards to technology and the ACA, which of the following is true? - ANSStates which
operate with an exchange must offer an internet-based portal

the time after issuing a policy during which an insurance company my contest a life
insurance claim due to the statements on an application is - ANS2 years

In New York, a group accident and health certificate of insurance must contain - ANSa
summary of policy features and benefits

Starting in 2016, businesses with up to ___ employees will be defined by the ACA as a
"small business". - ANS100

accident and health insurance standard provision require that - ANSthe policy, endorsement,
and attached papers constitute the entire contract

when initially issued, a temporary producer license in NY is valid for - ANS90 days

which of the following information is NOT needed to determine the suitability of an annuity
recommendation? - ANSlevel of education

which of these is NOT considered a Federal punishment for unfair and deceptive insurance
practices? - ANScommunity service

an association which maintains a facility that displays offers and counteroffers for purchasers
or sellers of life settlement contract is known as a - ANSlife settlement intermediary

in regards to ACA , which of these is NOT a role of a health insurance exchange -
ANScontact the employer is an employee stops coverage under a plan offered in the
exchange

ACA - ANSaffordable care act

a policyowner has decided to replace an existing life insurance policy with a new one. The
existing life insurance policy should be terminated - ANSafter the new life insurance policy
has been issued and delivered to the policyowner

In New York, reducing benefits for a newborn child under an accident and health plan is -
ANSprohibited in any form

According to ACA, coverage may be recinded - ANSif intentionally false statements were
offered

,Tom the agent replaced a client's insurance policy when it was not in the client's best
interest. Tom could be found guilty of - ANStwisting

the application is part of an annuity contract according to which of the following clauses
(required accident and health provision) - ANSentire contract

the superintendent has the ability to examine the business records of insurers and agencies
because - ANSof the powers granted through state statutes

an agent must report to the superintendent any administrative action taken against her by
any governmental agency within - ANS30 days

According to the ACA, new health insurance marketplaces are established by the -
ANSCCIIO

Uniform policy provisions found in all accident and health policies require that - ANSthe
policy, endorsement and attached papers constitute the entire contract (a required provision)

which of the following statements about the contestability of life insurance policy is true? -
ANSpolicy can be contested by the insurer only during the firsts 2 years of the contract

a small employer group is an employer that employs how many? - ANS2-50 employees

According to ACA, the proportion of premium revenues spent on clinical services and quality
improvement is called the - ANSmedical loss ratio

when a similarly appointed agent provides another agent with a referral, which results in a
sale, the commissions paid are generally - ANSshared between the agents

what does "SHOP" stand for in SHOP exchange - ANSSmall Business Health Options
Program

why were Exchanges implemented by the ACA? - ANSto create a one-stop market for
standardized health insurance plans

New York requires advertisements for accident and health insurance policies covering ONLY
a specified illness to prominently display - ANSa statement that the policy is limited

an individual in NY who charges a fee for giving advise on an insurance policy must be
licensed as a consultant if the advice is given to - ANSthe policyholder

why does NY law require an insurance agent to examine the existing Medicare Supplement
policies of a prospective insured? - ANSto determine the suitability of potential changes

NY law requires the Human Immunodeficiency Virus (HIV) consent form to - ANSDisclose
the types of individuals or organizations that may receive a copy of the test results

, Which of these is NOT considered a preventative service in a dental plan? - ANSFillings

During a stated initial peroid of coverage, long-term care insurance policies normally
EXCLUDE conditions that - ANSwere treated during a specified period preceding the policy
date

when determining the suitability of an annuity for a consumer, the insurance provider is
obligated to - ANSmake reasonable efforts to fit the annuity with the consumer's needs

Carol purchases a whole life policy that provides a choice of dividend options. The policy is
required to include a statement that the dividends are - ANSnot guaranteed

Under the New York Disability Benefits Law, cash payments are provided to workers who are
unable to work because of injury or illness that - ANSoccurred on the job

The amount received for a life insurance policy in a life settlement is than the death benefit -
ANSless

In New York, who is primarily responsible for determining the appropriateness of a Medicare
Supplement policy for a proposed insured? - ANSthe agent who solicits the application

The grace period for a life insurance policy with an annual premium is usually - ANS31 days

An insurance company willingly published false information in an insurance policy
advertisement. This is an example of - ANSmisrepresentation

a temporary license is good for up to - ANS90 days

A policyowner and a life settlement provider can have a life settlement negotiated through an
- ANSlife settlement broker

Pete the agent made public statments that falsely portrated Acme Insurance Company as
avoiding claim payments. Pete may be found guilty of - ANSdefamation

Which entity regulated an insurer's claim settlement practices? - ANSState insurance
departments

Who signs the notice of replacement when a Medicare Supplement policy is being replaced?
- ANSthe agent of the applicant

What is the actuarial value of a bronze level health plan - ANS60

If a group endorses an accident and health insurance product in an advertisement, the public
must be made aware of - ANSany control by the insurer over the group

The superintendent may not revoke an insurance producer's license unless - ANSthe
producer has been properly notices and given an opportunity for a hearing

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