100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
NYS Life, Accident and Health Insurance Agent Practice Final Exam Questions 2022/2023 | Consisting Of 150 Questions With Verified Answers From Experts$11.19
Add to cart
accident and health insurance agent practice final exam questions 20222023 | consisting of 150 questions with verified answers from experts
Written for
Accident And Health Insurance Agent
All documents for this subject (281)
Seller
Follow
Labsolution
Reviews received
Content preview
NYS Life, Accident and Health Final Exam Practice Questions 2022/2023
1. What happens when an initial offer is answered with a counteroffer?:
Answer- Initial offer is void
2. According to the Affordable Care Act (ACA), dependent children
may remain on their parent's plan until what age?: Answer- Age 26
3. The premiums paid by an employer for his employee's group life
insurance are usually considered to be: Answer- tax-deductible to the
employer
4. A family group accident and health insurance policy must continue
cover- age for each unmarried child at least until age: Answer- 19
5. A life insurance beneficiary died after receiving only six payments under
the policy's life income settlement option. What happens with the
remaining balance of the death proceeds?: Answer- Kept by the insurance
company
6.When an individual is planning to protect his family with life insurance,
one method of doing so is called needs analysis. What exactly does needs
analy- sis involve?: Answer- Identifies the needs of an individual and the
individual's dependents
7. A retired couple would like to maximize the income derived from their
combined life savings and have it payable until they both die. Which
annuity would be their best choice?: Answer- Joint and survivor annuity
8. Major medical plans typically exclude coverage for which of the
,following benefits?: Answer- Custodial care
9. Which of the following BEST describes a "partial disability"?: Answer-
Unable to perform one or more job duties
10.Under an adjustable life insurance policy, which of the following may
NOT be changed without further underwriting?: The person insured
11.An agent's license in New York must be renewed every: Two years
12.A policyowner pays the first annual premium for a $50,000 life
insurance policy and dies one month after the policy effective date. Which
of these statements is normally true?: Beneficiary receives $50,000
income tax-free
13.According to the Affordable Care Act (ACA), the proportion of
premium revenues spent on clinical services and quality improvements is
called the: Medical Loss Ratio
14.A material change in a modified endowment contract (MEC) results in:
the seven pay test, adjusted for cash value, applies again
15.How many days notice does the Affordable Care Act require insurers
to give before rescinding coverage?: 30
, 16. What determines how much an annuitant is paid for a variable annuity?-
: The market value variations of the securities backing it
17.Accident and health insurance standard provisions require that: The
pol- icy, endorsements, and attached papers constitute the entire
contract
18.Agreements made by terminally ill persons to sell their life
insurance policies at a discount in order to pay medical expenses are
called: Life Settlements
19.An employee requested that the balance of her 401(k) account be sent
directly to her in one lump sum. Upon receipt of the distribution, she imme-
diately had the funds rolled over into an IRA. What is the tax consequence
of the distribution sent to this employee?: Distribution is subject to
federal income tax withholding
20.A characteristic of preferred provider organizations (PPO) is: If service
is obtained outside the PPO, benefits are reduced and costs increase
21.Which of the following accurately describes a participating
insurance policy?: Policyowners may be entitled to receive dividends
22.What are reasonable and customary charges for health insurance
primar- ily based on?: Average charges within a geographic region
23.No existing insurance license will be revoked until: The licensee has
been afforded a right to a hearing on the charges
24.What is considered interstate travel under the Federal Fraud and
False Statements Act?: Puerto Rico
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Labsolution. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.19. You're not tied to anything after your purchase.