Free Life Accident and Health Insurance Basics Practice Questions
New York Life, Accident & Health exam (series 17-55) — 120 practice questions.
Subtopics: Insurable interest, Life settlement, Consent to insure, STOLI, Illustrations, Policy summary on request, Antedating, Own-life insurance, Spousal consent exception, Employer-owned coverage, Life settlement rescission, Life settlement contact limits, Life settlement broker exemption, Life settlement advertising, Life settlement referral fees, Life settlement disclosures, Life settlement proceeds, Coverage verification, STOLI violation, DES exposure, Community rating factors, Claims experience termination, Small group availability, Advertising, Personal uses, Determining amount, Business uses, Viatical settlements, Classes of policies, Premium factors, Premium frequency, Producer responsibilities, Policy delivery, Company underwriting, Classification of risks, Legal concepts, Definitions of perils, Types of losses and benefits, Limited health policies, Replacing health insurance, Premium determination, Conditional receipt, Binding receipt, Insuring clause, Consideration clause, Free-look provision, Policy ownership, Third-party ownership, Mortality table, Level premium concept, Net amount at risk, Policy reserves, Living benefits of cash value, Attending physician statement, Inspection report, Declined risk, Flat extra premium, Replacement, Buyer's Guide, Controlling adverse selection, Premature death, Final expense insurance, Estate liquidity, Charitable uses, Survivorship policy, Juvenile insurance, Creditor insurable interest, Human life value, Application signatures, Third-party consent, Application changes, Incomplete application, Premium receipt, Risk classification, Substandard rating, Underwriting sources, Accelerated underwriting, Genetic information, Needs analysis, Social Security, A&H types of losses, AD&D, Limited policies, Workers compensation, Subrogation, Health underwriting, Dependent coverage, Newborn coverage
Read the Life Accident and Health Insurance Basics study guide
Sample questions & answers
1. For a New York life insurance policy, insurable interest must exist:
At the time the contract is made (inception)
New York requires insurable interest at the inception of the life contract, not necessarily at the time of loss.
2. A person who negotiates the sale of an existing New York life policy to a third-party purchaser must hold a:
Life settlement broker license
Negotiating a life settlement requires a life settlement broker license in New York.
3. A New York life policy on the life of another adult generally requires:
The written consent of the person being insured
New York generally requires the written consent of the person whose life is to be insured, subject to limited exceptions.
4. An arrangement in which an outside investor with no insurable interest initiates a New York life policy on a person's life is:
Prohibited as stranger-originated life insurance (STOLI)
STOLI arrangements lack insurable interest at inception and are prohibited under New York law.
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Practice: Life Accident and Health Insurance Basics
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
