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Insurance Licensing NY-Life-Accident-and-Health Exam Syllabus Topics:

SectionWeightObjectives
Life Insurance Products and Provisions30%- Policy Provisions, Riders and Options
  • 1. Beneficiary Designations
    • 2. Non-forfeiture Values and Dividends
      - Types of Life Insurance Policies
      • 1. Term, Whole Life, Universal Life
        • 2. Annuities and Retirement Products
          Underwriting, Marketing and Sales Practices15%- Sales and Customer Service
          • 1. Suitability and Disclosure Requirements
            - Application and Underwriting Procedures
            • 1. Risk Classification and Selection
              Insurance Regulation and General Principles20%- New York Insurance Code and Laws
              • 1. Producer Responsibilities and Ethics
                • 2. Unfair Trade Practices
                  • 3. Licensing Requirements and Procedures
                    - Insurance Concepts
                    • 1. Contract Law and Policy Structure
                      • 2. Risk Management and Insurable Interest
                        Accident and Health Insurance35%- Policy Provisions and Claims
                        • 1. Coordination of Benefits
                          • 2. Eligibility and Enrollment
                            - Government Health Programs
                            • 1. Medicare and Medicaid
                              • 2. New York State Specific Programs
                                - Health Insurance Basics
                                • 1. Group vs Individual Coverage
                                  • 2. Medical Expense and Disability Income

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

                                    1. Stranger originated life insurance violates which of the following statutory requirements?

                                    A) Commission sharing.
                                    B) Right of rescission.
                                    C) Trust ownership.
                                    D) Insurable interest.


                                    2. For three weeks next month a company ' s employees will choose to enroll or remain enrolled in their HMO or change health plans. What is this situation called?

                                    A) coverage authorization period
                                    B) annual gatekeeper enrollment
                                    C) employer sponsored health plan
                                    D) annual open enrollment


                                    3. Which of the following producers, who have been licensed for a full biennial period, MUST complete continuing education requirements as a condition of renewing a license in New York?

                                    A) Personal Lines agents
                                    B) Independent adjusters
                                    C) Baggage agents
                                    D) Travel accident agents


                                    4. Who is the beneficiary of a key person insurance policy?

                                    A) Business partner.
                                    B) Insured ' s spouse.
                                    C) Employee.
                                    D) Employer.


                                    5. An annuity product linked to a market-related rate of return is called

                                    A) a tax-sheltered annuity.
                                    B) a deferred annuity.
                                    C) a fixed annuity.
                                    D) an indexed annuity.


                                    Solutions:

                                    Question # 1
                                    Answer: D
                                    Question # 2
                                    Answer: D
                                    Question # 3
                                    Answer: A
                                    Question # 4
                                    Answer: D
                                    Question # 5
                                    Answer: D

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