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NYS Life, Accident and Health State Exam Simulator Questions 2022/2023 | Consisting Of 150 Questions With Verified Answers From Experts$11.19
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accident and health state exam simulator questions 20222023 | consisting of 150 questions with verified answers from experts
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NYS Life, Accident and Health State Exam Simulator
1. Which of the following can be defined as "the potential for loss"?:
Answer- Risk
2. Which of the following describes the act of insuring a risk against
possible loss?: Answer- Risk Transfer
3. A description of a qualified plan's insurance contract may be found
in which ERISA reporting form?: Answer- Annual Return/Report (Form
5500)
4. Which of the following statements is NOT true concerning the
relationship between group health insurance plans and Medicare?
(Assuming the busi- ness has more than 20 employees): Answer- Group
Health Coverage Is NOT Available For Workers Over The Age of 65
5. Custodial care is normally covered under: Answer- Long-term care
insurance
6. Which of the following statements accurately describes the "time limit
on certain defenses"?: Answer- After a stated period of time, claims
cannot be denied due to material misrepresentations on the
application
7. Taxable income may be the result from all of these modified endowment
contract (MEC) transactions EXCEPT for: Answer- The policy is
surrendered for less than what was paid into it
8. In a speech to a local association, an agent incorrectly stated that XYZ
,Insurance Company is in financial difficulty and not paying claims. The
agent may be guilty of: Answer- Defamation
9. When does the owner's contractual rights begin under an individual
annu- ity contract?: Time of purchase
10.According to the Affordable Care Act, new Health Insurance
Marketplace are established by the: CCIIO (The Center for Consumer
Information and Insur- ance Oversight)
11.An insurance policy that can also be classified as a securities product
is called: Variable life
12.An accelerated (living) benefit rider in a life insurance policy may
provide funds to an insured who: Is expected to remain in a nursing
home for life
13.Employees generally receive workers compensation benefits for:
Lost wages and medical expenses due to occupational accidents
14.Part A Medicare includes coverage for all of the following services
EX- CEPT: 120 days of Skilled Nursing Facility care
15.Which statement regarding universal life insurance is correct?:
Cash value accumulations have a guaranteed minimum interest
rate
, 16.A life insurance company just paid a $100,000 death benefit to a
benefi- ciary. When the insured died, the cash value was $15,000 and total
premi- ums-paid equaled $10,000. How much of the proceeds will be
added to the beneficiary's gross income for federal income tax purposes?:
Nothing
17.Which of these life insurance policies does NOT contain a cash
value provision?: Decreasing term life
18.Emergency health care coverage for Medicare enrollees traveling
abroad is: A Medicare Supplement additional benefit
19.In New York, an insurer providing small employer group medical
plans may discontinue an employer's coverage if: The insurer no longer
offers the plan to any employer
20.When must the Superintendent be notified of an agent using an
assumed name?: Before using the assumed name
21.Which type of policy pays benefits to a policyholder covered under
a Hospital Expense policy?: Reimbursement
22.According to the Affordable Care Act, coverage may be rescinded:
If intentionally false statements were offered
23.Security laws passed by Congress are enforced by which
Federal agency?: Security and Exchange Commission
24.A father and his 6-year old son currently have no life insurance
coverage. What is the maximum amount of life insurance that the father
can take out on his son?: $50,000 (A minor under the age of 14 and 6
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