Insurance Licensing NY-Life-Accident-and-Health Q&A - in .pdf

  • Exam Code: NY-Life-Accident-and-Health
  • Exam Name: New York Life, Accident and Health Insurance Agent/Broker Examination Series 17-55
  • Q & A: 122 Questions and Answers
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Insurance Licensing NY-Life-Accident-and-Health Exam Syllabus Topics:

SectionObjectives
Topic 1: Accident and Health Insurance- Policy features and provisions
  • 1. Coordination of benefits
    • 2. Elimination periods and benefit limits
      - Health insurance products
      • 1. Hospital and medical expense coverage
        • 2. Disability income insurance
          Topic 2: State Regulations (New York)- Ethics and compliance
          • 1. Producer responsibilities and conduct
            • 2. Unfair trade practices
              - Licensing requirements
              • 1. Pre-licensing education requirements
                • 2. Application and background checks
                  Topic 3: Insurance Fundamentals- Principles of insurance and risk management
                  • 1. Insurable interest and indemnity concepts
                    • 2. Risk classification and pooling of risk
                      - Insurance contract law basics
                      • 1. Policy provisions and clauses
                        • 2. Elements of a valid contract

                          Insurance Licensing New York Life, Accident and Health Insurance Agent/Broker Examination Series 17-55 Sample Questions:

                          Question #1

                          The policy provision describing the responsibilities of the master policyowner is in

                          • A. individual health policies.
                          • B. individual medical policies.
                          • C. group health policies.
                          • D. certificate of coverage.
                          Reveal Solution  Discussion  0

                          Correct Answer: C  🗳️

                          Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).

                          Question #2

                          Individuals who are eligible for Medicare on the first day of the month in which they turn age 65 are automatically enrolled in

                          • A. Part D.
                          • B. Part B.
                          • C. Part A.
                          • D. Part C.
                          Reveal Solution  Discussion  0

                          Correct Answer: C  🗳️

                          Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).

                          Question #3

                          Under the grace period, an insured submits a $300 claim for medical expenses. The insurer notes that the insured has a past due premium of $100, and as a result, the insurer only pays $200. Which of the following provisions covers this situation?

                          • A. Misstatement of age.
                          • B. Unpaid premium.
                          • C. Payment of claims.
                          • D. Payment actions.
                          Reveal Solution  Discussion  0

                          Correct Answer: B  🗳️

                          Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).

                          Question #4

                          If a policyowner surrenders a policy for its cash value, when is a tax liability incurred?

                          • A. The policy is transferred to a third party.
                          • B. The cash value is less than premiums paid.
                          • C. The cash value exceeds all premiums paid.
                          • D. The policy is exchanged for a policy of equal value.
                          Reveal Solution  Discussion  0

                          Correct Answer: C  🗳️

                          Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).

                          Question #5

                          Under the Affordable Care Act, an insurer may place dollar limits on coverage for

                          • A. routine adult dental services.
                          • B. maternity and newborn care.
                          • C. laboratory services.
                          • D. mental health services.
                          Reveal Solution  Discussion  0

                          Correct Answer: A  🗳️

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