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:
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 - Answer: After two years of disability
Sylvia purchased an an...
NYS Life, Accident, And Health Insurance
Exam/ 385 Q&A
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 -
Answer: After two years of disability
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) - Answer: Single premium deferred annuity
Which of these is NOT a factor that influences group health insurance
underwriting? - Answer: Physical exams of group members
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,What is the grace period required for an individual accident and health insurance
policy with monthly premiums? - Answer: 10 days
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 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? - Answer: 30-
year decreasing term.
How many days’ notices does the ACA require insurers to give before rescinding
coverage? - Answer: 30
A signed good health statement may be requested by a life producer at the time
of - Answer: Policy Delivery
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 - Answer: Not
Guaranteed
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,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? - Answer: Long-
term care benefit rider
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
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
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, 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
According to the ACA, the proportion of premium revenues spent on clinical
services and quality improvements is called the - Answer: Medical loss ratio
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