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

SectionObjectives
Topic 1: Accident and Health Insurance- Health insurance products
  • 1. Disability income insurance
    • 2. Hospital and medical expense coverage
      - Policy features and provisions
      • 1. Coordination of benefits
        • 2. Elimination periods and benefit limits
          Topic 2: 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
                  Topic 3: State Regulations (New York)- Licensing requirements
                  • 1. Pre-licensing education requirements
                    • 2. Application and background checks
                      - Ethics and compliance
                      • 1. Producer responsibilities and conduct
                        • 2. Unfair trade practices

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

                          1. Which of the following statements BEST describes a single premium cash value policy?

                          A) It requires the policyowner to pay one premium annually.
                          B) It waives one future premium if the owner becomes disabled.
                          C) It provides for only one premium to be paid without evidence of insurability.
                          D) It requires only one payment to make the policy paid up.


                          2. A whole life policy is replaced with an annuity without incurring a tax penalty. This is referred to as

                          A) an Endowment Contract.
                          B) a Transfer of Value.
                          C) a 1035 Exchange.
                          D) a Cross-Purchase Plan.


                          3. Which of the following Long Term Disability clauses states that insureds are considered totally disabled when they CANNOT perform the major duties of a gainful occupation for which they are reasonably suited because of education, training, or experience?

                          A) Any occupation clause.
                          B) Presumptive disability clause.
                          C) Partial disability clause.
                          D) Regular occupation clause.


                          4. If a partner of a company becomes permanently disabled, which type of plan will allow the other partner to acquire the disabled partner's interest in the company?

                          A) long term disability
                          B) disability buy-sell agreement
                          C) employee disability coverage
                          D) business disability overhead expense


                          5. Which approach considers the future needs of the survivors in determining amounts of life insurance?

                          A) Cost Comparison Approach.
                          B) Human Life Value Approach.
                          C) Needs Approach.
                          D) Living Benefits Approach.


                          Solutions:

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

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