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

1. Which of the following actions is NOT considered the Business of Life Settlements?

A) Negotiating a life settlement contract through a life settlement broker.
B) Soliciting a life settlement contract from out of state.
C) Issuing a life settlement contract by mail.
D) Assigning a life settlement contract as a collateral loan.


2. Which statement is NOT a characteristic of a Group Life Insurance Plan?

A) Probationary periods.
B) A master contract.
C) Certificate of Insurance.
D) Individual underwriting.


3. The Health Insurance Portability and Accountability Act (HIPAA) ensures that qualified individuals who change jobs will have access to group health insurance with their new employer without

A) having any increase in premium costs.
B) having to meet a new deductible.
C) having to satisfy a new preexisting condition period.
D) any change in the level of benefits they receive.


4. According to the Affordable Care Act, a child can remain on a parent ' s health benefit plan until the child

A) reaches age 26.
B) marries.
C) graduates from college.
D) reaches age 19.


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

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


Solutions:

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

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