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Insurance Licensing New York Life, Accident and Health Insurance Agent/Broker Examination Series 17-55 Sample Questions:
1. Term life insurance differs from permanent life insurance in that MOST often, term life insurance
A) is automatically renewable at the end of the term period.
B) remains in force for a specific period of time.
C) has a longer premium payment period.
D) accumulates a much smaller cash value.
2. The limitation expressed in limited payment policies is a limit on the number of annual premiums or the
A) minimum interest rate on policy cash values.
B) maximum amount of benefits payable.
C) age beyond which premiums will no longer be required.
D) maximum amount available for loan purposes.
3. The purpose of Medicare Supplement Insurance is to address gaps in Medicare coverage, which can include
A) covering chiropractic treatment.
B) Medicare in-hospital deductible.
C) replacing HMO coverage.
D) treatment provided in a government hospital.
4. With respect to small group health benefit plans, a carrier may discontinue coverage or may refuse to renew such a plan if the employer
A) has a supplemental plan with a competing carrier.
B) falls to pay the premium prior to the end of the grace period.
C) has filed for bankruptcy in the prior year.
D) employs fewer than 15 full-time employees.
5. What is the primary feature of a Joint Life insurance policy?
A) It insures two or more lives under one policy.
B) It pays the death benefit after the last insured dies.
C) It is designed exclusively for estate planning.
D) It requires separate premiums for each insured.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: A |



