New York Life, Accident & Health Practice Test

Answer choices

1. A. The coordination-of-benefits provision.
2. B. The reinstatement provision.
3. C. The proof-of-loss provision.
4. D. The insuring clause alone.

Wrong-answer review

• A. The coordination-of-benefits provision.: Incorrect. COB applies when multiple plans cover the same person.
• C. The proof-of-loss provision.: Incorrect. Proof of loss supports a claim; it does not restore a lapsed policy.
• D. The insuring clause alone.: Incorrect. The insuring clause states the coverage promise but does not replace the reinstatement rules.

Answer choices

1. A. Marriage automatically ends eligibility at age 18 under federal law.
2. B. Only full-time students may remain covered after age 21.
3. C. The child can remain covered only if financially dependent on the parent.
4. D. Dependent coverage, when offered, generally must remain available through age 26.

Answer choices

1. A. Medicare Part B.
2. B. Medicare Part C.
3. C. Medicare Part D.
4. D. Medicare Part A.

Answer choices

1. A. He should submit the completed license application to DFS within two years after passing the examination.
2. B. Passing Series 17-55 automatically activates both lines of authority for two years.
3. C. He may apply at any time because the examination score never expires for licensing purposes.
4. D. He must obtain an insurer appointment before he may file the license application.

Answer choices

1. A. Comprehensive health insurance, because every diagnosed illness is covered.
2. B. Workers' compensation, because disease benefits are always work-related.
3. C. Specified-disease (critical or dread disease) insurance.
4. D. Group disability income, because diagnosis automatically replaces wages.

Answer choices

1. A. The transaction is unregulated because the policy was validly issued before the sale.
2. B. Only the original life insurer needs a life settlement provider license.
3. C. Life settlement providers must satisfy New York licensing and contract requirements.
4. D. The transaction is governed solely by Medicare supplement marketing rules.

Answer choices

1. A. Survivorship life insurance.
2. B. Credit life insurance.
3. C. Group disability income insurance.
4. D. Whole life insurance with a paid-up additions option.

Answer choices

1. A. A requirement that Renee prove a dollar-for-dollar financial loss equal to the face amount.
2. B. A rule that only creditors may insure another person's life.
3. C. A presumption that insurable interest is unnecessary when the beneficiary is a spouse.
4. D. A substantial interest arising from love and affection between persons closely related by blood or law.

Answer choices

1. A. A variable annuity, because the index formula necessarily means separate-account ownership.
2. B. A fixed indexed annuity.
3. C. A straight-life annuity payment option.
4. D. A qualified 401(k) plan.

Answer choices

1. A. The rule guarantees every insurer a fixed profit margin.
2. B. The rule determines an individual's coinsurance percentage for each claim.
3. C. The rule applies only to life insurance cash values.
4. D. MLR rules require a minimum premium share for care and quality improvement.