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New York Accident & Health Insurance Exam Questions with Complete Solutions Graded A+
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New York Accident & Health Insurance Exam Questions with Complete Solutions Graded A+
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New York Accident &Health Insurance Exam
Questions and Complete
Solutions Graded A+
Denning [Date] [Course title]
, Independent Adjuster - Answer: A person, firm or corporation acts on behalf of an insurer. (For profit)
Insurance Company
Public Adjuster - Answer: A person, firm or corporation acts on behalf of an insured. Negotiating certain
claims for loss of damage to property.
Cancellable Health Insurance - Answer: Insurance policies provide insurer right to cancel coverage at
any time. Giving number of days notice. (as little as five days)
Noncancellable Health Inusurance - Answer: Contracts can't be cancelled by an insurer for any reason.
Exceptions include fraudulent claim or non-payment of premium.
Conditionally Renewable - Answer: Policies provide insurer with the right to refuse to renew coverage
for certain conditions stated in the policy. Can't refuse to renew on basis of declining health.
ERISA - Answer: Employee Retirement Income Security Act (1974)
Insured's Notice of Claim - Answer: Policyholder must give notice of a claim within 20 days or as soon as
reasonably possible.
Standard Claim Forms - Answer: 15 days after notice of claim
Proof of Loss - Answer: Required 90 days after the end of a period which the insurer is liable.
Permanent total disability - Answer: Most severe, insurer will never work again.
Temporary total disability - Answer: Renders insurer incapable of working for a certain time-frame.
Recovery is seen
Permanent partial disability - Answer: Injury that is permanent but won't stop the individual from
returning to work. (loss of leg, arm etc)
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