NY Life Insurance bundled Exam Review 2023 with 100% correct answers

insurance transfers the risk of an loss for an individual or business to an insurance company which spreads out the costs to many individuals agency contract a contract that is held between insurer and an agent/producer containing the expressed authority given to the agent/producer, and the...

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? 30-year decreasing term. How many days notice does the ACA require insurers to give before rescinding coverage? 30 A signed good healt...

information about the premium and policy limites, the identity and address of the named insured, and the policy period is found in which part of the insurance policy? Declaration page if an insured intentioanlly conceals a material fact on an application for insurance, the coverage may be: ...

Physical damage coverage under a garage policy is a blanket limit for covered auto, an accurate statement? Yes; The dealer's physical damage limit would be done on a blanket limit basis. This would apply to comprehensive and collision losses to the auto inventory of the dealer. This is done becaus...

Physical damage coverage under a garage policy is a blanket limit for covered auto, an accurate statement? Yes; The dealer's physical damage limit would be done on a blanket limit basis. This would apply to comprehensive and collision losses to the auto inventory of the dealer. This is done becaus...

Based on the Human Life Value Approach, which of the following is NOT used to calculate an individual's life value? A. Insured's annual expenses B. Effect of inflation on income over time C. Predicted needs of the family after the insured's death D. Insured's current and future income C. Pr...

Insurance institution or business that transfers risk by the accumulation of capital from the many to pay for the losses of the few Property Policies covers policyholders property Real Property Buildings, land, and anything attached to the buildings and land Personal Property...