PSI - NY Life, Accident and Health Practice Exam 17-55 Questions
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Course
PSI - NY Life, Accident and Health
Institution
PSI - NY Life, Accident And Health
PSI - NY Life, Accident and Health Practice Exam 17-55 Questions
1. Free Look
2. When particular
benefits are not list-
ed on a payment
schedule
Which policy provision permits the policy owner to take
a specified number of days to examine the contract,
and allows for cancellation and a full...
PSI - NY Life, Accident and Health Practice Exam 17-55 Questions
1. Free Look Which policy provision permits the policy owner to take
a specified number of days to examine the contract,
and allows for cancellation and a full refund if the policy
owner rejects the terms or costs?
2. When particular When will a policy pay on a UCR basis?
benefits are not list-
ed on a payment
schedule
3. long term care rider Which type of rider reimburses health and social service
expenses incurred in a convalescent or nursing home
facility?
4. Fraudulent mis- Which of the following is exempted from the incontesta-
statements bility provision in insurance policies?
5. As soon as covered What does first dollar coverage mean?
medical expenses
are incurred, the
policy begins to
pay
6. In a long term care What is the waiver of premium provision?
contract, the premi-
um is waived af-
ter the insured has
been confined for
a specific period of
time
7. for claims involving According to the Time Payment of Claims provision,
periodic payments the insurer must make the payment immediately after
receiving proof of loss EXCEPT
8. the actual amount Which is a disadvantage to a flexible premium annuity?
of the annuity bene-
fit cannot be deter-
mined in advance
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, PSI - NY Life, Accident and Health Practice Exam 17-55 Questions
9. a detailed and com- When a policy or certificate containing an accelerated
prehensive sum- benefit provision is applied for or delivered, the producer
mary of the acceler- is responsible for providing that applicant a summary of
ated benefit coverage that includes all of the following EXCEPT
10. the loan is not which one of the following represents an advantage of
taxed while a with- obtaining a policy loan versus a withdrawal?
drawal is taxed for
amounts above the
contract cost basis
11. with the non can- How does a noncancelable policy differ from a guaran-
celable policy the teed renewable policy?
insurer may in-
crease premiums
only based on the
terms of the policy
12. Insurer may elect What does it mean if a health policy is conditionally
NOT to renew only renewable?
under the condi-
tions specified in
the policy
13. 2 year period When the suicide clause is inserted in a life insurance
contract, death by suicide is not covered during the
policy's initial:
14. The insurer and the What does coinsurance mean?
insured share ex-
penses over the de-
ductible.
15. Notice of claim Which of the following must be given to the insurer
within 20 days after occurrence or commencement of
any loss covered by the policy, or as soon thereafter as
is reasonably possible?
16. The right to change the beneficiary or dispose of the
policy or its benefits in any manner one chooses is
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