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NYS Life, Accident and Health Insurance Agent Final Exam Practice Questions 2022/2023 | Consisting Of 150 Questions With Verified Answers From Experts$10.99
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NYS Life Accident and Health Insurance Agent Practice Final Exam Questions 2022/2023 | Consisting Of 150 Questions With Verified Answers From Experts
NYS Life, Accident and Health Insurance Agent Practice Final Exam Questions 2022/2023 | Consisting Of 150 Questions With Verified Answers From Exp...
New York Life, Accident and Health Final Exam
Practice Questions 2022/2023
1.What happens when an initial offer is answered with a counteroffer? ✔✔ Initial offer is void
2.According to the Affordable Care Act (ACA), dependent children may remain on their parent's plan until what age? ✔✔ Age 26
3.The premiums paid by an employer for his employee's group life insurance are usually considered to be✔✔ 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✔✔ 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?✔✔ Kept by the insurance company .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?✔✔ 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?✔✔ Joint and survivor annuity
8.Major medical plans typically exclude coverage for which of the following benefits?✔✔ Custodial care
9.Which of the following BEST describes a "partial disability"?✔✔ 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 .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
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