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| Section | Weight | Objectives |
|---|---|---|
| Accident and Health Insurance | 25-30% | - Health insurance policy types (individual, group, HMOs) - Disability income insurance - Dental and vision insurance basics - Long-term care insurance basics - Medical expense coverage - Major medical coverage |
| New York State Regulations | 20-25% | - Fiduciary responsibilities - Consumer protection regulations - Advertising regulations - Replacement and churn rules - Licensing requirements and procedures - NYS Insurance Law requirements |
| Life Insurance Fundamentals | 25-30% | - Beneficiary designations - Dividends and nonforfeiture options - Policy types and provisions - Policy riders and endorsements - Policy reinstatement |
| General Insurance Principles | 15-20% | - Agent/broker duties and ethics - Fair claims settlement practices - Underwriting principles - Insurance contract fundamentals - Ethical sales practices |
1. Which of the following statements BEST describes a disability elimination period?
A) A qualifying period.
B) A time deductible rather than a dollar deductible.
C) A dollar deductible rather than a time deductible.
D) A benefit or utilization period.
2. If a long-term care insurance policy or certificate replaces another long-term care policy, what does the replacing policy have to do?
A) waive any time periods applicable to preexisting conditions to the extent that similar exclusions have been satisfied under the original policy
B) waive any preexisting conditions requirements after 30 days and allow for a 45-day " free look " period
C) waive any time periods applicable to preexisting conditions as long as the client agrees in writing to stay on a doctor recommended treatment schedule
D) allow a 45-day " free look " period
3. What is the purpose of the Accelerated Death Benefit Rider?
A) To provide for the early payment of the death benefit for a terminally ill insured.
B) To increase the death benefit by a stated percentage.
C) To adjust the death benefit to keep up with inflation.
D) To decrease the tax liability of the insured ' s estate.
4. Which is an accurate description of the relationship between the premiums of a whole life policy and the premium payment period?
A) The shorter the payment period, the lower the annual premium.
B) The payment period is not related to the annual premium.
C) The shorter the payment period, the higher the annual premium.
D) The longer the payment period, the higher the annual premium.
5. Under the grace period, an insured submits a $300 claim for medical expenses. The insurer notes that the insured has a past due premium of $100, and as a result, the insurer only pays $200. Which of the following provisions covers this situation?
A) Unpaid premium.
B) Payment actions.
C) Misstatement of age.
D) Payment of claims.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: A |
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