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New York State Life Insurance Series 17-51 Exam Questions with Certified Answers Graded A+
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New York State Life Insurance Series 17-51 Exam Questions with Certified Answers Graded A+
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New York State LifeInsurance Series 17-51
Exam Questions with
Certified Answers Graded
A+
Denning [Date] [Course title]
, Dividends - Answer: are considered a return of unearned premium which is why are they are paid out
income tax free.
24 - Answer: Accelerated Death Benefit
The prognosis of a physician must be a life expectancy of ___ months or less.
The individual states - Answer: Highest authority for insurance regulation. No interference from federal
regulation, unless federal law specifically provides otherwise.
Fixed Annuities payments are level - Answer: Premiums are allocated to the insurer's general account.
The insurer has the investment risk, and fixed annuities pay out a fixed level income benefit payment.
Market Value Adjustment Annuity - Answer: an annuity product that features fixed interest rate
guarantees combined with an interest rate adjustment factor that can cause the surrender value to
fluctuate in response to market conditions.
2 years or less - Answer: Viatical Settlement life expectancy
Pre-need - Answer: A type of coverage with a small face amount, typically purchased to pay the burial
expenses of the insured is called ____.
Option B - Answer: With an _____ death benefit, the beneficiary will receive the face amount plus the
cash value as of the date of death.
Option A - Answer: Pays the face amount of the policy and provides a level death benefit. As the cash
value increases, the company's risk decreases. A universal life policy must include an amount at risk. If
the cash value approaches the face amount, the death benefit must increase so as to provide for this
amount at risk. This minimum separation between the cash value and the death benefit is called the
"risk corridor." This corridor of insurance is automatic and does not require insurability. This prevents
the policy from maturing too early. Pays the face amount of the policy and provides a level death
benefit. As the cash value increases, the company's risk decreases. A universal life policy must include an
amount at risk. If the cash value approaches the face amount, the death benefit must increase so as to
provide for this amount at risk. This minimum separation between the cash value and the death benefit
is called the "risk corridor." This corridor of insurance is automatic and does not require insurability. This
prevents the policy from maturing too early.
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