New York Life, Accident and Health Insurance Agent/Broker Examination Series 17-55 (NY-Life-Accident-and-Health) Free Practice Test

Question 1

When MUST a newborn child be covered under an existing health insurance policy?

A. Within 30 days.

B. Immediately.

C. Within 24 hours.

D. Within 45 days.

Correct Answer: B

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Question 2

Penalties that may be levied by the Department of Insurance for committing insurance fraud do NOT include

A. license suspension.

B. license revocation.

C. fines.

D. probation.

Correct Answer: D

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Question 3

If a policyowner surrenders a policy for its cash value, when is a tax liability incurred?

A. The policy is exchanged for a policy of equal value.

B. The cash value is less than premiums paid.

C. The policy is transferred to a third party.

D. The cash value exceeds all premiums paid.

Correct Answer: D

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Question 4

Which type of group has a constitution and bylaws, is organized and maintained in good faith for purposes other than obtaining insurance, and has insurance for the purpose of covering members and their employees?

A. Credit Insurance group.

B. Multiple employer group.

C. Employee or individual employer group.

D. Association or labor group.

Correct Answer: D

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Question 5

Individuals who are eligible for Medicare on the first day of the month in which they turn age 65 are automatically enrolled in

A. Part A.

B. Part D.

C. Part B.

D. Part C.

Correct Answer: A

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Question 6

Under the Affordable Care Act, insurer may refuse to accept an internal appeal on a denied claim if

A. the appeal is filed more than 180 days after the claim denial.

B. the insured is unable to pay an appeal fee.

C. the insured has submitted three appeals within the calendar year.

D. the claim is under $500.

Correct Answer: A

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Question 7

An annuity that guarantees a given number of income payments, whether or not the annuitant is alive to receive them, is referred to as

A. an Irrevocable endowed annuity.

B. a life annuity certain.

C. an assured life annuity.

D. a guaranteed survivor annuity.

Correct Answer: B

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Question 8

With the majority of companies, within how many days does the free-look provision allow the insured the right to return the life insurance policy for full premium?

A. 30 days.

B. 15 days.

C. 10 days.

D. 5 days.

Correct Answer: C

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Insurance Licensing New York Life, Accident and Health Insurance Agent/Broker Examination Series 17-55 (NY-Life-Accident-and-Health) Free Practice Test