{"id":116837,"date":"2023-08-26T09:08:06","date_gmt":"2023-08-26T09:08:06","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=116837"},"modified":"2023-08-26T09:08:08","modified_gmt":"2023-08-26T09:08:08","slug":"ny-state-insurance-license-bundled-exams-questions-and-answers-latest-2023-already-passed","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/08\/26\/ny-state-insurance-license-bundled-exams-questions-and-answers-latest-2023-already-passed\/","title":{"rendered":"NY State Insurance License Bundled Exams Questions and Answers Latest 2023 Already Passed"},"content":{"rendered":"\n

NYS Insurance Licensing Exam Latest
2023 Graded A
insurance transfers \u2714\u2714the risk of an loss for an individual or business to an insurance company
which spreads out the costs to many individuals
agency contract \u2714\u2714a contract that is held between insurer and an agent\/producer containing the
expressed authority given to the agent\/producer, and the duties\/responsibilities to the principal,
any agent in violation of the agency contract may be held personally liable to the insurer
agent \u2714\u2714legal representative of a an insurance company that acts for another person or entity
known as the principal with regard to contractual arrangements
beneficiary \u2714\u2714receives benefits from the insurance
death benefit \u2714\u2714the amount paid when a claim is issued against policy of insurance
insurance policy \u2714\u2714a contact b\/w insured and insurance company that agrees to pay the insured
in the event of unforseen events caused by specific events<\/p>\n\n\n\n

risk \u2714\u2714is the uncertainty or chance of loss occurring only two types of risks exist which are
speculative and pure and only one is insurable
pure risk \u2714\u2714is the the certainty that loss or no change will occur with no financial gain to be
sought only this type of risk is insurable
speculative \u2714\u2714the type that may either lead to loss or gain. example gambling. these are NOT
insurable
exposure \u2714\u2714the unit of measure used to determine the premiums for insurance coverage
hazards \u2714\u2714broken into 2 subtypes (physical, moral, morale); conditions that increase the
probability of the insured to experience a loss
physical hazard \u2714\u2714hazards arising from material, structural, and operational features
moral hazard \u2714\u2714hazards to applicants that may lie or provide fraudulent information to
insurance companies
<\/p>\n\n\n\n

NY state insurance license practice
exam questions\/answers with verified
solutions
Under what circumstance does an accident and health insurer have the right to request an
autopsy?<\/p>\n\n\n\n

    \n
  1. When the claim exceeds an amount specified in the policy<\/li>\n\n\n\n
  2. When 2 days have passed after death<\/li>\n\n\n\n
  3. When not prohibited by state law<\/li>\n\n\n\n
  4. When consent is given by the beneficiary \u2714\u27143. When not prohibited by state law
    Which of the following accurately describes the “time limit on certain defenses”?<\/li>\n\n\n\n
  5. After a stated period of time, claims cannot be denied due to material misrepresentation on the
    application<\/li>\n\n\n\n
  6. All claims can be disputed after two years<\/li>\n\n\n\n
  7. An insured cannot file a lawsuit within 90 days of the claim being filed<\/li>\n\n\n\n
  8. The right to return an accident and health policy must be within 10 days of policy delivery
    \u2714\u27141. After a stated period of time, claims cannot be denied due to material misrepresentation on
    the application
    Patrick purchased a long-term care policy. He has a health condition for which medical treatment
    was recommended by a physician within 6 months prior to the policy’s effective date. This
    condition is called a(n)<\/li>\n\n\n\n
  9. antecedent condition<\/li>\n\n\n\n
  10. pre-existing condition<\/li>\n\n\n\n
  11. hazardous condition<\/li>\n\n\n\n
  12. grandfathered condition \u2714\u27142. pre-existing condition<\/li>\n<\/ol>\n\n\n\n

    Which of the following describes coverage for the Medicare Part B coinsurance?<\/p>\n\n\n\n

      \n
    1. Only a Long-term care policy will cover Medicare Part B coinsurance<\/li>\n\n\n\n
    2. A Medicare Supplement optional benefit<\/li>\n\n\n\n
    3. A Medicare Supplement core benefit<\/li>\n\n\n\n
    4. Medicare Part B does not require a coinsurance so no additional coverage is needed \u2714\u27143. A
      Medicare Supplement core benefit
      Larry has a Major Medical Expense policy for his family with a $1,000 per family\/per year
      deductible and an 80\/20 coinsurance provision. If Larry’s family files four claims of $400, $800,
      $100, and $700 in one year, how much will the insurance company pay?<\/li>\n\n\n\n
    5. $500<\/li>\n\n\n\n
    6. $800<\/li>\n\n\n\n
    7. $1,000<\/li>\n\n\n\n
    8. $1,200 \u2714\u27142. $800
      (($400 + $800 + $100 + $700 = $2,000. The insurance company pays 80% of $1,000
      (outstanding balance after deductible is paid), or $800.))
      Long-term care policies issued in New York must provide benefits for at least<\/li>\n\n\n\n
    9. 6 months<\/li>\n\n\n\n
    10. 12 months<\/li>\n\n\n\n
    11. 18 months<\/li>\n\n\n\n
    12. 24 months \u2714\u27142. 12 months
      <\/li>\n<\/ol>\n\n\n\n

      Insurance License NY Questions and
      Answers Graded A
      New home buyer S called his agent and told him that he wanted the broadest coverage available
      for his new home. Which policy would the agent be most likely to recommend?
      A) HO-3
      B) HO-5
      C) HO-2
      D) HO-8 \u2714\u2714B
      Which of the following best defines a hazard?
      A) It eliminates the chance of loss
      B) It increases the chance of loss
      C) It is a cause of loss
      D) It increases the amount of loss \u2714\u2714B
      Under the Homeowners Forms, Coverage C includes which type of coverage?<\/p>\n\n\n\n

      A
      Other Structures
      B
      Additional Living Expense
      C
      Special Damages
      D
      Contents and Personal Property \u2714\u2714D
      Under Coverage A of a Dwelling Policy, all of the following are covered, except:
      A
      Fire or lightning damage to outdoor television antennas
      B
      Land, including the land on which the dwelling is located
      C
      Materials for repairing the dwelling, located on the described location<\/p>\n\n\n\n

      D
      Outdoor equipment on the location used to service the dwelling \u2714\u2714B
      Which of the following definitions is NOT amended by the Miscellaneous Type Vehicle – New
      York PP 03 29 Endorsement?
      A
      Newly Acquired Auto
      B
      Insured
      C
      Miscellaneous Type Vehicle
      D
      Physical Damage \u2714\u2714D
      Which federal entity administers the Terrorism Insurance Program created by TRIA?
      A
      Department of Homeland Security<\/p>\n\n\n\n

      B
      Department of the Treasury
      C
      NAIC
      D
      Department of Defense \u2714\u2714B
      Which of the following is part of the legal responsibility of maintaining an insurance license?
      A
      An agent must inform the Superintendent of any change in address within 10 days
      B
      An agent must inform the Superintendent of any change in address within 60 days
      C
      An agent must inform the Superintendent of any change in address within 30 days
      D
      An agent must inform the Superintendent of any change in address within \u2714\u2714C<\/p>\n\n\n\n

      NYS Life, accident, and health insurance
      Exam Already Passed
      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? \u2714\u271430-year decreasing term.
      How many days notice does the ACA require insurers to give before rescinding coverage? \u2714\u271430
      A signed good health statement may be requested by a life producer at the time of \u2714\u2714Policy
      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 \u2714\u2714Not Guaranteeed
      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? \u2714\u2714Long-term care benefit rider
      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 \u2714\u2714After two years of
      disability<\/p>\n\n\n\n

      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)
      \u2714\u2714Single premium deferred annuity
      Which of these is NOT a factor that influences group health insurance underwriting?
      \u2714\u2714Physical exams of group members
      What is the grace period required for an individual accident and health insurance policy with
      monthly premiums? \u2714\u271410 days
      In regards to technology and the ACA, which of the following statements is correct? \u2714\u2714States
      which operate with an Exchange must offer an internet-based portal
      Insurable interest involves what assumption? \u2714\u2714One person benefits from another person’s
      continued life
      Which of these policies is considered a whole life policy? \u2714\u2714Single premium life<\/p>\n\n\n\n

      Which of the following would be considered an unfair claims settlement practice?
      \u2714\u2714Misrepresenting 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?
      \u2714\u2714When the policy has a cash value
      Which of these is NOT a factor during the health insurance underwriting process? \u2714\u2714Former
      residence
      New York workers compensation laws exclude benefits for disabilities caused by \u2714\u2714Intentional,
      self-inflicted injuries occurring on the job
      When premiums are determined, one factor would be the expenses of the \u2714\u2714Insurer
      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 \u2714\u2714equal the
      net single premium for the same face amount at the insured’s attained age<\/p>\n\n\n\n

      During open enrollment for Medicare Supplement coverage, an applicant MUST be at least
      \u2714\u2714There 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? \u2714\u2714Subject 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? \u2714\u2714Flexible 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? \u2714\u2714Her employer’s group accident and health plan
      Which statement regarding the certificate of insurance is accurate? \u2714\u2714It 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 \u2714\u2714Medical loss ratio<\/p>\n\n\n\n

      New York State Property and Casualty
      Licensing Exam Questions and Answers
      Graded A+
      Pro Rata Liability Clause is included in an insurance policy to deal with the problem of
      \u2714\u2714Duplicate insurance policies
      The purpose of this clause is to illustrate the method to determine each insurer’s liability in case
      of a loss. Each insurer pays its fair share determined by the percentage that the carrier’s limit
      bears to the total coverage carried.
      pro rata liability \u2714\u2714If a loss occurs that is covered by more than 1 insurance policy that was
      purchased by the insured, then each policy pays a portion of the loss that is proportional to the
      amount of that policy over the total amount of all policies for the loss\u2014each policy pays its pro
      rata share.
      What is meant by Res Ipsa Loquitur? \u2714\u2714Res ipsa loquitur means, roughly, “the thing speaks for
      itself.” Courts developed the concept of Res Ipsa Loquitur to deal with cases in which the actual
      negligent act cannot be proved, but it is clear that the injury was caused by negligence.<\/p>\n\n\n\n

      What territories are covered by commercial auto insurance? \u2714\u2714The coverage territory granted in
      commercial auto insurance is the United States, its territories and possessions, Puerto Rico and
      Canada.
      What does automobile insurance Supplementary Payments refer to? \u2714\u2714Payment of defense and
      other expenses by the insurance company beyond the limits of liability..
      Any expense the insurance company wishes to incur in the processing of a claim is outside the
      limits of coverage. The insured is not penalized.
      Medical Payments coverage under a Homeowner policy are available for expenses resulting from
      an injury to: \u2714\u2714A residence employee..
      This could be someone who mows the lawn. However, if a residence employee is covered under
      Workers Compensation Coverage then the Medical Payments Coverage would not apply.
      Coverage does not apply to the insured or member of the household. Roomers, boarders and
      tenants are not covered as well
      what does Homeowners – Coverage C exclude? \u2714\u2714The Homeowners forms exclude certain
      types of property. Pets are not covered for loss by an insured peril. The policy also excludes
      coverage for property that is more specifically insured. Property of tenants is also excluded.<\/p>\n\n\n\n

      New York Adjuster Exam Questions and
      Answers Already Passed
      Offering any return of premium, valuable consideration or inducement when purchasing an
      insurance policy is an example of: \u2714\u2714I. Illegal Inducement
      II. Rebating
      Under a watercraft or yacht policy how claims are settled: \u2714\u2714Actual cash value
      When may an insured sue an insurance company? \u2714\u2714Not until the insured has complied with all
      policy provisions and within the time limit specified in the state laws
      What is the definition of a non-resident agent? \u2714\u2714Someone licensed in their state and obtains a
      license in another state to solicit insurance business in that state. is correct.
      The court awards a judgment against the insured for $300,000 plus $10,000 of accrued interest
      and the legal fees amount to an additional $35,000. Our insured has a $300,000 liability limit on
      the policy. How much will be paid by the policy? \u2714\u2714The correct answer is: $345,000.
      Explanation:<\/p>\n\n\n\n

      The $10,000 of accrued pre judgment interest and the $35,000 cost of the defense are all payable
      as additional coverage on the policy. These amounts have no affect on the limit of liability
      available in a judgment against the insured. So the entire amount of $345,000 is payable in this
      case.
      The minimum coverage required in New York for uninsured motorists bodily injury is: \u2714\u2714The
      correct answer is: $25,000 per person, $50,000 per accident. .
      Explanation:
      New York state law established the minimum coverage limits of $25,000 per person, $50,000 per
      accident and up to $50,000 per person, and $100,000 per accident for death.
      If an insured wishes to cover the mobile home while it is being transported from one location to
      another would: \u2714\u2714Purchase the Mobile Home Transportation Coverage Endorsement on the
      homeowner policy
      The workers compensation policy language is written by the: \u2714\u2714National Council on
      Compensation Insurance (NCCI)
      When a homeowners policy has been in effect for 60 days in New York, an insurer can cancel at
      anytime for any of the following reasons, EXCEPT: \u2714\u2714A large loss has occurred<\/p>\n\n\n\n

      NY Independent General Adjuster Exam –
      Series 17-70 Questions and Answers
      100% Pass
      Dram Shop Liability refers to: \u2714\u2714Liquor Law Liability.
      The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the
      property from further loss. The additional loss that occurs as a result of his inactions may be
      denied because of what clause in the policy? \u2714\u2714Neglect.
      To be eligible for the New York assigned risk auto plan a person must: \u2714\u2714Hold a valid driver’s
      license.
      Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for
      any other insurance license in New York until at least: \u2714\u2714One Year.
      A typical benefit design for a long term care policy does not include a: \u2714\u2714Conditionally or
      optionally renewability feature.<\/p>\n\n\n\n

      In New York the workers compensation program is administered by the Workers Compensation
      Board which establishes guidelines for the program. Notice of injury or death to a worker is
      required to be submitted to the employer within what period of time? \u2714\u271430 Days.
      A common carrier is not held liable for the loss of a shipper’s goods when the loss results from:
      \u2714\u2714An Act of God.
      If one is found guilty of federal insurance fraud, who can permit the guilty individual to return to
      the insurance business? \u2714\u2714Only an insurance regulatory official.
      When is a passenger first covered under an aircraft policy? \u2714\u2714When Entering the Aircraft.
      If an insured takes precautionary measures to protect property from flood damage such as
      creating a retaining wall of sand bags, how much coverage if any, will be provided by a flood
      policy? \u2714\u2714$1,000 if the flood is imminent and the property is in danger of flooding.
      Which Commercial Forms would cover sinkhole collapse? \u2714\u2714Basic, Broad, and Special.<\/p>\n\n\n\n

      __<\/strong> is a movement allowed by certain joints of the skeleton that decreases the angle between
      two adjoining bones. \u2714\u2714Flexion
      The listing of the perils covered is found in which part of a homeowner policy? \u2714\u2714Insuring
      Agreement.
      If a dog owned by a customer is injured in the parking lot of a store, is that considered bodily
      injury under liability coverage? \u2714\u2714No. The dog is property and would be consider property
      damage.
      The Superintendent of Insurance may approve the employment, appointment or participation of
      any person whose license has been revoked. Karen Jones had her license revoked and filed an
      application for relicensing and has waited over 120 days without a response from the Insurance
      Department. What should or can she do? \u2714\u2714Assume the relicensing is approved.
      Mr. Vickers was in a hurry to catch a plane. He parks his car in the parking garage at the airport
      and leaves the keys in the ignition. When he returns he finds that his car has been stolen. Later
      the car was discovered with severe collision damage. The airport carries Garagekeeper’s Legal
      Liability coverage and Mr. Vickers carries Liability and Comprehensive coverage on his auto.
      What coverage would apply? \u2714\u2714Mr. Vickers comprehensive coverage.<\/p>\n\n\n\n

      An automobile is polluting the environment. What engine component could be the primary
      cause? \u2714\u2714Catalytic Converter Malfunction.
      Under the dwelling policy, DP2 or D3, what is the maximum amount of Coverage A that would
      be paid for additional living expenses? \u2714\u271420%
      Workers compensation policies also include employer’s liability coverage. If any employer fails
      to maintain the equipment and an employee is injured, would it be covered under this coverage?
      \u2714\u2714Yes.
      Fidelity bonds are typically written to be effective for a: \u2714\u2714Continuous term without an
      expiration date.
      One purpose of a deductible is to: \u2714\u2714Eliminate small claims.
      If the insured has failed to pay the premium for a worker compensation policy issued in New
      York, how many days notice of cancellation must be sent to the insured? \u2714\u2714A 10 day notice.<\/p>\n\n\n\n

      NY License Exam – New York General
      Insurance Laws Questions and Answers
      Rated A
      The Superintendent is the head of the Department of Insurance in New York. The
      appoints the Superintendent to a four-year term. \u2714\u2714governor
      If the Superintendent requests information during an examination or investigation and a person
      does not respond within days, he or she may impose a penalty of up to $500 per day (not more than $10,000 total) for each day the person fails to respond. \u2714\u271415 If the Superintendent imposes five separate penalties against a person within five years for failing to respond to his or her inquiries, the Superintendent may levy an additional penalty of up to __<\/strong><\/em>. \u2714\u2714$50,000
      To qualify for a certificate of authority, a mutual insurer must show that it: \u2714\u2714(1) maintains the
      required surplus to fulfill its obligations to policyholders;
      (2) has the required number of applications for insurance;<\/p>\n\n\n\n

      (3) has a genuine membership list; and
      (4) has received premiums from members and will issue policies within 60 days after receiving a
      certificate of authority.
      A producer’s appointment of an agent remains in effect until \u2714\u2714(1) terminated by the insurer;
      (2) the producer’s license is suspended or revoked; or
      (3) the producer’s license expires and is not renewed.
      Controlled business \u2714\u2714insurance that is written primarily on the lives, property, or risks of the
      licensee or of the licensee’s family members, employer, or business associates.
      Agents and brokers must maintain records showing receipts and disbursements for each premium
      account. These records must identify: \u2714\u2714(1) the date and amount of each transaction
      (2) the name of the insured and insurer<\/p>\n\n\n\n

      (3) the policy binder number
      (4) the type of risk involved
      Insurers must keep records of: \u2714\u2714(1) insurance policies, for six years after the date a policy is
      no longer is in force or until the next examination report, whichever period is longer
      (2) applications when a policy is not issued, for six years or until the next examination report,
      whichever period is longer
      (3) claim files, for six years after a claim is resolved or until the next examination report,
      whichever period is longer
      An insurer’s records retention plan must describe: \u2714\u2714(1) the types of records retained
      (2) the retention method used
      (3) the safeguards established to prevent the alteration of records
      <\/p>\n\n\n\n

      NY Life, Accident, and Health Insurance
      Agent\/Broker Exam Series 17-55 Already
      Passed
      Process 2103 (d-i) \u2714\u27141. The Superintendent may issue a license to any person, firm or
      corporation who has complied with the requirements of the Insurance Code, authorizing the
      licensee to act as agent of any authorized insurer. Every individual applicant for a license under
      this section and every proposed sub-licensee must be 18 years of age or older at the time of
      issuance of such license. The person must submit to and pass a written examination required by
      the Superintendent.
      Producer Definition (2101(k)) \u2714\u2714An insurance producer means an insurance agent, insurance
      broker, reinsurance intermediary, excess lines broker, or any other person required to be licensed
      under the insurance laws of this state to sell, solicit or negotiate insurance.
      Who Should be Licensed (2101(k)(1)) \u2714\u27141. The term “insurance producer” does not include:
      An officer, director or employee of a licensed insurer, fraternal benefit society or health
      maintenance organization or of a licensed insurance producer, provided that the officer, director
      or employee does not receive any commission on policies written or sold to insure risks residing,
      located or to be performed in this state and:<\/p>\n\n\n\n

      (a) the officer, director or employee’s activities are executive, administrative, managerial, clerical
      or a combination of these, and are only indirectly related to the sale, solicitation or negotiation of
      insurance;
      (b) the officer, director or employee’s function relates to underwriting, loss control, Inspection or
      the processing, adjusting, investigating or settling of a claim on a contract of Insurance; or (c) the
      officer, director or employee is acting in the capacity of a special agent or agency supervisor
      assisting licensed insurance producers where the person’s activities are limited to providing
      technical advice and assistance to licensed insurance producers and do not include the sale,
      solicitation or negotiation of insurance.
      Home State (2101(l)) \u2714\u2714Home state means the District of Columbia or any state or territory of
      the United States in which an insurance producer maintains his, her or its principal place of
      residence or principal place of business and is licensed to act as an insurance producer.
      Negotiate (2101(m)) \u2714\u2714Negotiate or negotiation means the act of conferring directly with or
      offering advice directly to a purchaser or prospective purchaser of a particular contract of
      insurance concerning any of the substantive benefits, terms or conditions of the contract,
      provided that the person engaged in that act either sells insurance or obtains insurance from
      licensed insurers, fraternal benefit societies or health maintenance organizations for purchasers.<\/p>\n\n\n\n

      Sell (2101(n)) \u2714\u2714Sell or sale means to exchange a contract of insurance by any means, for
      money or its equivalent, on behalf of a licensed insurer, fraternal benefit society or health
      maintenance organization.
      Solicit (2101(o)) – \u2714\u2714Solicit or solicitation means attempting to sell insurance or asking or
      urging a person to apply for a particular kind of insurance from a particular licensed insurer,
      fraternal benefit society or health maintenance organization.
      Agent 2101(a) \u2714\u2714In this section, insurance agent means any authorized or acknowledged agent
      of an insurer, fraternal benefit society or health maintenance organization issued a certificate of
      authority pursuant to the public health law, and any sub-agent or other representative of such an
      agent, who acts as such in the solicitation of, negotiation for, or sale of, an insurance, health
      maintenance organization or annuity contract, other than as a licensed insurance broker.
      Agent 2101(k) \u2714\u2714insurance producer means an insurance agent, insurance broker, reinsurance
      intermediary, excess lines broker, or any other person required to be licensed under the insurance
      laws of this state to sell, solicit or negotiate insurance.
      The applicant must be at least 18 years of age at the time of license issuance.
      An examination is required for each applicant, except where noted for applicants with a change
      in residency moving to New York (see code 2103 below).<\/p>\n\n\n\n

      Brokers 2101(c) \u2714\u2714a licensed insurance representative who does not represent a specific
      insurance company, but places business among various companies. Legally, the broker is usually
      regarded as a representative of the insured rather than the insuring company.
      Brokers 2101(h) \u2714\u2714any licensed attorney at law of this state.
      Consultants (2107) \u2714\u2714The Superintendent may issue an insurance consultant’s license to any
      person, firm, association or corporation who or which has complied with the requirements of this
      chapter with respect to either: life insurance, meaning all of those kinds of insurance authorized.
      Any such license issued to a firm or association shall authorize only the members of such firm or
      association named in such license as sub-licensees to act individually as consultants there under,
      and any such license issued to a corporation shall authorize only the officers and directors
      thereof named in such license as sub-licensees to act individually as consultants there under.
      Adjuster 2101(g) \u2714\u2714The Superintendent may, in his discretion require an applicant for a license
      under this section to present evidence, in such form as he prescribes, that such applicant has been
      employed, for a period which he deems reasonable, by an insurer, an independent adjuster or a
      public adjuster, in the performance of duties which in his opinion would provide the applicant
      with a satisfactory preliminary training for the duties and responsibilities which would evolve
      upon him as a licensee under this section. The term independent adjuster means any person, firm,<\/p>\n\n\n\n

      New York Insurance Laws Questions and
      Answers Rated A
      The time limit on certain defenses under individual health policies in New York is:
      A
      20 days
      B
      3 years
      C
      90 days
      D
      2 years \u2714\u2714D
      2 years
      The Superintendent may examine the books and records of any insurer based on the:
      A
      Permission of a producer
      B
      Authority granted by the state<\/p>\n\n\n\n

      C
      Authority granted by the Secretary of State
      D
      Permission of the insurer \u2714\u2714B
      Authority granted by the state
      If a licensee uses an assumed name, the name must be approved by the Superintendent:
      A
      Before the licensee may use it to transact insurance in New York
      B
      Within 30 days of using the assumed name
      C
      Only if they change their legal name
      D
      Upon license renewal \u2714\u2714A
      Before the licensee may use it to transact insurance in New York<\/p>\n\n\n\n

      In New York, basic hospital insurance must provide coverage for any continuous hospital
      confinement per insured for a period of at least:
      A
      20 days
      B
      30 days
      C
      60 days
      D
      10 days \u2714\u2714C
      60 days
      If two individuals are licensed in the same line with two different companies join together to sell
      a policy, the commission can be:
      A
      Shared between the two agents and the insured
      B
      Paid only to the agent who initiated the sale
      C
      <\/p>\n\n\n\n

      New York Accident & Health Insurance
      Adjuster Latest 2023 Graded A+
      The New York Superintendent of Insurance is \u2714\u2714Appointed by the governor of New York
      The primary responsibility of the Superintendent of Insurance is \u2714\u2714Enforcing the state
      insurance laws and regulations.
      An independent adjuster \u2714\u2714A person who acts on behalf of an insurer in investigating and
      adjusting claims and\/ or performing any duties required by the insurer.
      A public adjuster \u2714\u2714A person who acts on behalf of an insured in negotiating the settlement of
      certain claims for loss or damage to property.
      The qualifications for obtaining a New York Accident & Health Adjuster license are: \u2714\u2714Must
      be 18, submit to finger printing, and must be approved by at least five reputable citizens of the
      community<\/p>\n\n\n\n

      Following the occurrence of a legitimate, within what period of time can an insured bring legal
      action against the insurer for failure to promptly and properly settle the claim? \u2714\u2714Within two
      years after the inception of the loss
      Failing to acknowledge reasonable communication with respect to claims arising out of policies
      is an example of: \u2714\u2714Unfair claims practices
      New York residents securing any type of insurance adjuster license must meet the following
      qualifications: \u2714\u2714Pass the state licensing examination, maintain a $1,000.00 surety bond.
      A policy holder must give notice of a claim within _<\/em><\/strong> or as soon as reasonably possible.
      \u2714\u271420 days
      New York independent adjuster \u2714\u2714acts on behalf of an insurer
      New York public adjuster \u2714\u2714acts on behalf of the insured
      The amount of bond required to be filed by an adjuster with the state of New York is:
      \u2714\u2714$1,000.00<\/p>\n\n\n\n

      NY Series 17-52 Questions and Answers
      100% Pass
      How many eligible employees must be included in a contributory health insurance plan?
      \u2714\u271450%
      A man works for Company A and his wife works for Company B. The spouses are covered by
      health plans through their respective companies that also cover the other spouse. If the husband
      files a claim, \u2714\u2714The insurance through his company is primary.
      What is the period of coverage for events such as death or divorce under COBRA? \u2714\u271436
      months
      Twenty-five days after a health insurance policy is delivered, the policyowner decides that she
      would like to return the policy and receive a refund of premium. Which of the following is true?
      \u2714\u2714The policyowner will not receive a refund because the free-look period is over.
      An insured is involved in a car accident. In addition to general, less serious injuries, he
      permanently loses the use of his leg and is rendered completely blind. The blindness improves a
      month later. To what extent will he receive Presumptive Disability benefits? \u2714\u2714No benefits<\/p>\n\n\n\n

      For the purpose of insurance, risk is defined as \u2714\u2714The uncertainty or chance of loss.
      Which of the following is an example of a producer’s fiduciary duty? \u2714\u2714The trust that a client
      places in the producer in regard to handling premiums.
      Which of the following is NOT true of basic medical expense plans? \u2714\u2714Coverage for
      catastrophic medical expenses
      Which of the following is NOT a feature of a noncancellable policy? \u2714\u2714The insurer may
      terminate the contract only at renewal for certain conditions.
      What is the best way to change an application? \u2714\u2714Start over with a fresh application
      On a major medical insurance policy, the amount that an insured must pay on a claim before the
      insurer will pay is known as \u2714\u2714Deductible.
      Which of the following is correct about a group health insurance policy issued in New York?
      \u2714\u2714It cannot exclude newborn children from coverage.
      <\/p>\n\n\n\n

      New York Life Insurance Questions and
      Answers Already Passed
      Accelerated Benefits \u2714\u2714Riders attached to life insurance policies which allow death benefits to
      be used to cover nursing or convalescent home expenses.
      Accidental Death Benefits \u2714\u2714A policy rider that states that the cause of death will be analyzed
      to determine if it complies with the policy description of accidental death.
      Accidental Death Insurance \u2714\u2714An insurance policy that provides payment if the insured’s death
      is the result of an accident.
      Accumulation Period \u2714\u2714The time before an annuitant’s retirement during which the annuitant is
      making payments or investments in an annuity.
      Acquired Immunodeficiency Syndrome (AIDS) – \u2714\u2714An infectious and incurable disease caused
      by the human immunodeficiency virus (HIV).
      Actual Cash Value (ACV) \u2714\u2714The required amount to pay damages or for property loss. This
      amount is calculated based on the property’s current replacement value minus depreciation.<\/p>\n\n\n\n

      Actuary \u2714\u2714A person trained in the technical aspects of insurance and related fields, particularly
      in the mathematics of insurance; a person who, on behalf of the company, determines the
      mathematical probability of loss.
      Adhesion \u2714\u2714A contract offered on a “take-it-or leave-it” basis by an insurer, in which the
      insured’s only option is to either accept or reject the contract. Any ambiguities in the contract
      will be settled in favor of the insured.
      Adjustable Life \u2714\u2714Life insurance which permits changes in the face amount, premium amount,
      period of protection, and the duration of the premium payment period.
      Adjuster \u2714\u2714A representative of an insurance company who investigates and acts on the behalf
      of the company to obtain agreements for the amount of the insurance claim.
      Administrator \u2714\u2714An individual appointed by a court as a fiduciary to settle the financial affairs
      and estate of a deceased person.<\/p>\n\n\n\n

      Admitted (Authorized) Insurer \u2714\u2714An insurance company authorized and licensed to transact
      business in a particular state.
      Adult Day Care \u2714\u2714A program for impaired adults that attempts to meet their health, social, and
      functional needs in a setting away from their homes.
      Adverse Selection \u2714\u2714The tendency of risks with higher probability of loss to purchase and
      maintain insurance more often than the risks who present lower probability.
      Agency \u2714\u2714An insurance sales office or company.
      Agent \u2714\u2714An individual who is licensed to sell, negotiate, or effect insurance contracts on behalf
      of the insurer.
      Agent’s Authority \u2714\u2714Special powers granted to an agent by his or her agency contract.
      Aleatory \u2714\u2714A contract in which participating parties exchange unequal amounts. Insurance
      contracts are aleatory in that the amount the insured will pay in premiums is unequal to the
      amount the insurer will pay in the event of a loss.<\/p>\n\n\n\n

      Alien Insurer \u2714\u2714An insurance company that is incorporated outside the United States.
      Alzheimer’s Disease \u2714\u2714A disease that causes the victim to become dysfunctional due to
      degeneration of brain cells and severe memory loss.
      Ancillary \u2714\u2714Additional, miscellaneous services provided by a hospital, such as x-rays,
      anesthesia, and lab work, but not hospital room and board expenses.
      Annual Statement \u2714\u2714A detailed financial report that an insurance company must submit every
      year to the insurance department of state(s) in which it conducts business.
      Annuity \u2714\u2714A contract that provides income for a specified period of years, or for life.
      Apparent Authority \u2714\u2714The appearance or the assumption of authority based on the actions,
      words, or deeds of the principal or because of circumstances the principal created.
      Applicant \u2714\u2714A person making application for, or offering him\/herself or another to be insured
      under an insurance contract.<\/p>\n","protected":false},"excerpt":{"rendered":"

      NYS Insurance Licensing Exam Latest2023 Graded Ainsurance transfers \u2714\u2714the risk of an loss for an individual or business to an insurance companywhich spreads out the costs to many individualsagency contract \u2714\u2714a contract that is held between insurer and an agent\/producer containing theexpressed authority given to the agent\/producer, and the duties\/responsibilities to the principal,any agent in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-116837","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/116837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=116837"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/116837\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=116837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=116837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=116837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}