NYS Life, Accident, And Health Insurance Exam/ 385 Q&A
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NYS Life, Accident, And Health Insurance
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NYS Life, Accident, And Health Insurance
NYS Life, Accident, And Health Insurance Exam/ 385 Q&A. Terms like:
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
Insurable interest involves what assumption? - Answer: O...
NYS Life, Accident, And Health Insurance Exam/
385 Q&A
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
Insurable interest involves what assumption? - Answer: One person benefits from another
person's continued life
Which of these policies is considered a whole life policy? - Answer: Single premium life
Which of the following would be considered an unfair claims settlement practice? - Answer:
Misrepresenting pertinent policy provisions relating to coverage after a loss
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
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,Which of these is NOT a factor during the health insurance underwriting process? - Answer:
Former residence
New York workers compensation laws exclude benefits for disabilities caused by - Answer:
Intentional, self-inflicted injuries occurring on the job
When premiums are determined, one factor would be the expenses of the - Answer: Insurer
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
During open enrollment for Medicare Supplement coverage, an applicant MUST be at least -
Answer: There is no minimum age requirement
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
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
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
Which statement regarding the certificate of insurance is accurate? - Answer: It indicates
evidence of an employee's insurance coverage
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,According to the ACA, the proportion of premium revenues spent on clinical services and quality
improvements is called the - Answer: Medical loss ratio
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
According to the ACA, insurers can no longer deny health coverage due to pre-exsisting
conditions unless that plan is a - Answer: Grandfathered plan
Which item must be considered by an agent when determining the suitability of an annuity
recommendation? - Answer: The client's financial status
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
If group Health benefit levels are too high, what could be the end result? - Answer:
Overutilization of the plan
A life insurance producer licensed in New York is authorized to - Answer: Solicit, receive and
forward applications to the insurer
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
Any employee insured under a group life insurance plan is normally - Answer: Covered with
term life insurance
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, A life insurance guaranteed insurability rider gives the insured the right, without proving
insurability, to - Answer: Periodically purchase additional insurance
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
Which of the following is NOT a function of accident and health insurance? - Answer: Pays a
death benefit as a result of natural causes
What typically changes at the re-entry option date found in some term life policies? - Answer:
Premium
When an illustration is used in the sale of a life insurance policy, the illustration MUST contain a
statement signed by the - Answer: Agent
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
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
Field underwriting by a producer - Answer: may result in the disclosure of hazardous activities
of the applicant
Emergency health care coverage for Medicare enrollees traveling abroad is - Answer: A
Medicare Supplement additional benefit
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