NYS LIFE, ACCIDENT, AND HEALTH INSURANCE EXAM

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NYS LIFE, ACCIDENT, AND HEALTH INSURANCE EXAM

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Emergency health care coverage for Medicare enrollees traveling abroad is

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A Medicare Supplement additional benefit Question 2: Linda is covered with long-term care insurance and has early-stage Alzheimer's.She is still able to reside in her home while receiving primary care, as opposed to moving into a nursing home. All of the following long-term benefits encourage this EXCEPT for

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Custodial care

Question 3: Periodic health claim payments MUST be made at least

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Monthly

Question 4: What is the actuarial value of a bronze level health plan?

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60 Question 5: What is considered interstate travel under the Federal Fraud and False Statements Act?

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Puerto Rico

Question 6: How does the cost for a survivorship life policy compare to the cost of combining two separate life insurance policies?

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Survivorship life policy is lower Question 7: Al surrenders his life insurance policy for its cash value. The total of the premiums paid into the policy minus total dividends received in cash or used to offset premiums is referred to as the

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Cost basis

Question 8: Insurable interest in one's own life is legally considered as

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Generally unlimited Question 9: During open enrollment for Medicare Supplement coverage, an applicant MUST be at least

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There is no minimum age requirement Question 10: Which of the following would be considered an unfair claims settlement practice?

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Misrepresenting pertinent policy provisions relating to coverage after a loss Question 11: When a Medicare Supplement policy is replaced, the policy owner will have a free look period of ___ days.

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30 Question 12: When does the producer give a premium receipt for a life insurance application?

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When the initial premium has been paid with the application

Question 13: The ACA established "exchanges" in order to

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Assist individuals and small business when making their health insurance purchases

Question 14: Any employee insured under a group life insurance plan is normally

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Covered with term life insurance Question 15: New York workers compensation laws exclude benefits for disabilities caused by

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Intentional, self-inflicted injuries occurring on the job

Question 16: A Health Reimbursement Arrangement MUST be established

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By the employer Question 17: When a ten year renewable term life insurance policy issued at age 45 is renewed, the premium rate will be the current rate for

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Ten year term insurance for a person aged 55 Question 18: Which statement concerning an adjustable life insurance policy is FALSE?

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Evidence of insurability is required when there is a change in premium Question 19: Darrell has a group long-term disability income policy paid by his employer. Which of these statements is true?

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The specified benefit amount is a percentage of his wages Question 20: What is the effect of the market value adjustment in a market value adjustment annuity?

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Transfers some of the investment risk to the policy owner

Question 21: Which of these policies is considered a whole life policy?

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Single premium life

Question 22: Insurable interest involves what assumption?

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One person benefits from another person's continued life

Question 23: Field underwriting by a producer

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may result in the disclosure of hazardous activities of the applicant Question 24: What is the grace period required for an individual accident and health insurance policy with monthly premiums?

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10 days Question 25: When premiums are determined, one factor would be the expenses of the

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Insurer Question 26: Which of the following statements regarding the Fair Credit Reporting Act is correct?

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If credit, insurance, or employment was denied because of an unfavorable report, the consumer must be advised Question 27: Long Term Care policies will usually pay for eligible benefits using which of the following methods?

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Expense incurred Question 28: Switching Life insurance policies without tax consequence is permitted under

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Section 1035 rules