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Insurance Licensing New York Life, Accident and Health Insurance Agent/Broker Examination Series 17-55 Sample Questions:
1. The following statement refers to which type of clause? "We have issued the policy in consideration of the representations in your application and payment of the first-term premium."
A) A consideration clause.
B) A concealment clause.
C) A whole contract clause.
D) A contestability clause.
2. Which of the following is a life insurance contract written on the life of an individual?
A) Single-Life Insurance.
B) Insurance.
C) Survivorship Policy.
D) Joint Life Contract.
3. Under the Affordable Care Act, insurer may refuse to accept an internal appeal on a denied claim if
A) the claim is under $500.
B) the appeal is filed more than 180 days after the claim denial.
C) the insured has submitted three appeals within the calendar year.
D) the insured is unable to pay an appeal fee.
4. If an insured under a life insurance policy dies with an outstanding loan balance then the death benefit will
A) be paid less the amount of the loan interest but not the principal.
B) be reduced by the amount of the loan and interest owed.
C) be paid less the amount of the loan but not the interest.
D) not be paid until the loan is repaid.
5. On or after January 1, 2014, employers with no more than 25 full time equivalent employees (FTEs) with average annual wages of less than $50,000 may be eligible for a tax credit of up to how much of the premiums paid by the employer?
A) 70%
B) 25%
C) 50%
D) 10%
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: C |



