NYS Life, Accident, And Health Insurance Exam New
2023/385 Questions With Complete Solutions
Quiz :Which type of life insurance policy is best suited for paying off the
outstanding balance of a 30-year mortgage in the event of the insured's death?
- Answer :30-year decreasing term.
Quiz :How many days notice does the ACA require insurers to give before
rescinding coverage? - Answer :30
Quiz :A signed good health statement may be requested by a life producer at
the time of - Answer :Policy Delivery
Quiz :Carol purchases a whole life policy that provides a choice of dividend
options. This policy is required to include a statement that the dividends are -
Answer :Not Guaranteeed
Quiz :Tim is confined to a nursing home but doesn't have a terminal illness.
Which life insurance rider is designed to help pay for this type of expense? -
Answer :Long-term care benefit rider
Quiz :An insured is covered under a group long-term disability policy. Under
this type of policy, the definition of disability based on any occupation typically
applies - Answer :After two years of disability
Quiz :Sylvia purchased an annuity for $100,000 from the proceeds of an
inheritance. No further payments are permitted and the income stream begins
in 15 years. This contract is a(n) - Answer :Single premium deferred annuity
Quiz :Which of these is NOT a factor that influences group health insurance
underwriting? - Answer :Physical exams of group members
Quiz :What is the grace period required for an individual accident and health
insurance policy with monthly premiums? - Answer :10 days
Quiz :In regards to technology and the ACA, which of the following statements
is correct? - Answer :States which operate with an Exchange must offer an
internet-based portal
,Quiz :Insurable interest involves what assumption? - Answer :One person
benefits from another person's continued life
Quiz :Which of these policies is considered a whole life policy? -
Answer :Single premium life
Quiz :Which of the following would be considered an unfair claims settlement
practice? - Answer :Misrepresenting pertinent policy provisions relating to
coverage after a loss
Quiz :A policyowner is permitted to take out a policy loan on a whole life
policy at what point? - Answer :When the policy has a cash value
Quiz :Which of these is NOT a factor during the health insurance underwriting
process? - Answer :Former residence
Quiz :New York workers compensation laws exclude benefits for disabilities
caused by - Answer :Intentional, self-inflicted injuries occurring on the job
Quiz :When premiums are determined, one factor would be the expenses of
the - Answer :Insurer
Quiz :Scott has a life insurance policy in which the dividends are left with the
insurance company. This particular policy may be paid up when the cash value
plus accumulated dividends - Answer :equal the net single premium for the
same face amount at the insured's attained age
Quiz :During open enrollment for Medicare Supplement coverage, an
applicant MUST be at least - Answer :There is no minimum age requirement
Quiz :What happens to the cash value of a market value adjusted annuity if it's
surrendered prior to the end of the stated guarantee period? -
Answer :Subject to market value adjustment
Quiz :Which of the following contracts offer deferred taxation, flexible
payments, a guaranteed interest rate, and death benefits equal to the cash
value? - Answer :Flexible premium fixed annuity
Quiz :Tonya has been diagnosed with kidney failure and has group accident
and health insurance through her large employer. Which of these accident and
,health plans will be primary during the months following her diagnosis? -
Answer :Her employer's group accident and health plan
Quiz :Which statement regarding the certificate of insurance is accurate? -
Answer :It indicates evidence of an employee's insurance coverage
Quiz :According to the ACA, the proportion of premium revenues spent on
clinical services and quality improvements is called the - Answer :Medical loss
ratio
Quiz :Which of the following statements regarding the Fair Credit Reporting
Act is correct? - Answer :If credit, insurance, or employment was denied
because of an unfavorable report, the consumer must be advised
Quiz :According to the ACA, insurers can no longer deny health coverage due
to pre-exsisting conditions unless that plan is a - Answer :Grandfathered plan
Quiz :Which item must be considered by an agent when determining the
suitability of an annuity recommendation? - Answer :The client's financial
status
Quiz :An applicant submits a life insurance application where an investigative
consumer report is used in the underwriting process. Which of these
statements is true? - Answer :Applicant has a right to receive a copy of the
report
Quiz :If group Health benefit levels are too high, what could be the end result?
- Answer :Overutilization of the plan
Quiz :A life insurance producer licensed in New York is authorized to -
Answer :Solicit, receive and forward applications to the insurer
Quiz :A group-owned insurance company that is formed to assume and spread
the liability risks of its members is known as a - Answer :Risk retention group
Quiz :Any employee insured under a group life insurance plan is normally -
Answer :Covered with term life insurance
, Quiz :A life insurance guaranteed insurability rider gives the insured the right,
without proving insurability, to - Answer :Periodically purchase additional
insurance
Quiz :A policy owner 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 policy owner
Quiz :Which of the following is NOT a function of accident and health
insurance? - Answer :Pays a death benefit as a result of natural causes
Quiz :What typically changes at the re-entry option date found in some term
life policies? - Answer :Premium
Quiz :When an illustration is used in the sale of a life insurance policy, the
illustration MUST contain a statement signed by the - Answer :Agent
Quiz :Andy is in need of health care performed by skilled medical practitioners,
but only on an intermittent basis. What level of care will his doctor likely
prescribe? - Answer :Intermediate care
Quiz :An individual may receive Medicare Part A Hospital benefits, regardless
of age, as long as the person has received which of the following benefits for at
least 24 months? - Answer :Social Security Disability
Quiz :Field underwriting by a producer - Answer :may result in the disclosure
of hazardous activities of the applicant
Quiz :Emergency health care coverage for Medicare enrollees traveling abroad
is - Answer :A Medicare Supplement additional benefit
Quiz :Which of the following statements is true regarding accident and health
insurance claims that reimburse on an indemnity basis? - Answer :Claims can
be sent directly to the insured
Quiz :Who may terminate coverage under a cancelable health insurance
policy? - Answer :Either the insured or the insurer
Quiz :What is the actuarial value of a bronze level health plan? - Answer :60
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