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Insurance Licensing NY-Life-Accident-and-Health Exam Syllabus Topics:

SectionWeightObjectives
Accident and Health Insurance35%- Government Health Programs
  • 1. Medicare and Medicaid
    • 2. New York State Specific Programs
      - Policy Provisions and Claims
      • 1. Coordination of Benefits
        • 2. Eligibility and Enrollment
          - Health Insurance Basics
          • 1. Medical Expense and Disability Income
            • 2. Group vs Individual Coverage
              Life Insurance Products and Provisions30%- Types of Life Insurance Policies
              • 1. Term, Whole Life, Universal Life
                • 2. Annuities and Retirement Products
                  - Policy Provisions, Riders and Options
                  • 1. Non-forfeiture Values and Dividends
                    • 2. Beneficiary Designations
                      Underwriting, Marketing and Sales Practices15%- Application and Underwriting Procedures
                      • 1. Risk Classification and Selection
                        - Sales and Customer Service
                        • 1. Suitability and Disclosure Requirements
                          Insurance Regulation and General Principles20%- New York Insurance Code and Laws
                          • 1. Producer Responsibilities and Ethics
                            • 2. Licensing Requirements and Procedures
                              • 3. Unfair Trade Practices
                                - Insurance Concepts
                                • 1. Contract Law and Policy Structure
                                  • 2. Risk Management and Insurable Interest

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

                                    Question 1

                                    In addition to the application, MIB, or consumer reports, underwriters can acquire information from all of the following EXCEPT

                                    A. attending physician statements.
                                    B. genetic testing.
                                    C. physical examinations.
                                    D. medical questionnaires.


                                    Question 2

                                    Which premium payment mode typically results in the lowest overall cost for a life insurance policy?

                                    A. Quarterly
                                    B. Monthly
                                    C. Annually
                                    D. Semi-Annually


                                    Question 3

                                    Which of the following statements BEST describes a single premium cash value policy?

                                    A. It requires the policyowner to pay one premium annually.
                                    B. It requires only one payment to make the policy paid up.
                                    C. It provides for only one premium to be paid without evidence of insurability.
                                    D. It waives one future premium if the owner becomes disabled.


                                    Question 4

                                    Term life insurance differs from permanent life insurance in that MOST often, term life insurance

                                    A. remains in force for a specific period of time.
                                    B. has a longer premium payment period.
                                    C. accumulates a much smaller cash value.
                                    D. is automatically renewable at the end of the term period.


                                    Question 5

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

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


                                    Solutions:

                                    Question 1
                                    Answer: B
                                    Question 2
                                    Answer: C
                                    Question 3
                                    Answer: B
                                    Question 4
                                    Answer: A
                                    Question 5
                                    Answer: C

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