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NYS Life, accident, and health insurance Exam Questions and Answers Latest Updated 2024 A+
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Created By: A SolutionNYS Life, accident, and health insurance Exam
Questions and Answers Latest Updated 2024
1. 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? - answers>30-year
decreasing term.
2. How many days notice does the ACA require insurers to give before rescinding
coverage? - answers>30
3. A signed good health statement may be requested by a life producer at the time of -
answers>Policy Delivery
4. Carol purchases a whole life policy that provides a choice of dividend
options. This policy is required to include a statement that the dividends are - answers>Not
Guaranteeed
5. Tim is confined to a nursing home but doesn't have a terminal illness. Which life
insurance rider is designed to help pay for this type of expense?
- answers>Long-term care benefit rider
6. An insured is covered under a group long-term disability policy. Under this type of
policy, the definition of disability based on any occupation
typically applies - answers>After two years of disability
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7. Sylvia purchased an annuity for $100,000 from the proceeds of an
inheritance. No further payments are permitted and the income stream
begins in 15 years. This contract is a(n) - answers>Single premium deferred annuity
8. Which of these is NOT a factor that influences group health insurance underwriting? -
answers>Physical exams of group members
9. What is the grace period required for an individual accident and health insurance policy
with monthly premiums? - answers>10 days
10. In regards to technology and the ACA, which of the following statements is correct? -
answers>States which operate with an Exchange must offer an internet-based portal
11. Insurable interest involves what assumption? - answers>One person benefits from
another person's continued life
12. Which of these policies is considered a whole life policy? -
answers>Single premium life
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13. Which of the following would be considered an unfair claims settlement practice? -
answers>Misrepresenting pertinent policy provisions relating to coverage after a loss
14. A policyowner is permitted to take out a policy loan on a whole life policy at what point?
- answers>When the policy has a cash value
15. Which of these is NOT a factor during the health insurance underwriting process? -
answers>Former residence
16. New York workers compensation laws exclude benefits for disabilities caused by -
answers>Intentional, self-inflicted injuries occurring on the job
17. When premiums are determined, one factor would be the expenses of the
- answers>Insurer
18. 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 - answers>equal the net single
premium for the same face amount at the insured's attained age
19. During open enrollment for Medicare Supplement coverage, an applicant MUST be at
least - answers>There is no minimum age requirement
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20. 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? -
answers>Subject to market value adjustment
21. Which of the following contracts offer deferred taxation, flexible
payments, a guaranteed interest rate, and death benefits equal to the cash value? -
answers>Flexible premium fixed annuity
22. 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? - answers>Her employer's group accident and health
plan
23. Which statement regarding the certificate of insurance is accurate? -
answers>It indicates evidence of an employee's insurance coverage
24. According to the ACA, the proportion of premium revenues spent on clinical services and
quality improvements is called the -
answers>Medical loss ratio
25. Which of the following statements regarding the Fair Credit Reporting Act is correct? -
answers>If credit, insurance, or employment was denied
because of an unfavorable report, the consumer must be advised
26. According to the ACA, insurers can no longer deny health coverage due to pre-exsisting
conditions unless that plan is a - answers>Grandfathered
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