New York Laws and Rules Pertinent to Insurance Questions and Answers Completely Solved
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New York Laws and Rules
Institution
New York Laws And Rules
A life insurance policy can be reinstated upon meeting company requirements within a maximum of -ANSWER- 3 years
According to the Affordable Care Act (ACA), dependent children may remain on their parent's plan until what age? -ANSWER- Age 26
A life insurance producer licensed in New York is a...
New York Laws and Rules Pertinent to Insurance
Questions and Answers Completely Solved
A life insurance policy can be reinstated upon meeting company requirements within a
maximum of -ANSWER- 3 years
According to the Affordable Care Act (ACA), dependent children may remain on their
parent's plan until what age? -ANSWER- Age 26
A life insurance producer licensed in New York is authorized to -ANSWER- Solicit,
receive and forward applications to the insurer
When long-term care insurance is replaced, the insurer issuing the new policy cannot -
ANSWER- Impose a new pre-existing conditions exclusion
Why were Exchanges implemented by the Affordable Care Act (ACA)? -ANSWER- To
create a one-stop market for standardized health insurance plans
According to the Affordable Care Act, coverage may be rescinded -ANSWER- if
intentionally false statements were offered
According to the Affordable Care Act (ACA), the proportion of premium revenues spent
on clinical services and quality improvements is called the -ANSWER- Medical loss ratio
A policyowner has decided to replace an existing life insurance policy with a new one.
The existing life policy should be terminated -ANSWER- after the new life policy has
been issued and delivered to the policyowner
The amount received for a life insurance policy in a life settlement is -ANSWER- Less
than the death benefit
The maximum prison sentence given under federal law for unfair and deceptive
insurance practices is -ANSWER- 15 years
An individual in New York who charges a fee for giving advice on an insurance policy
must be licensed as a consultant if the advice is given to -ANSWER- The policyholder
Replacing a policy when it is NOT in the best interest of the client is known as -
ANSWER- Twisting
If a group endorses an accident and health insurance product in an advertisement, the
public must be made aware of -ANSWER- Any control by the insurer over the group
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