Guaranteed Exam New York Life
Continue to increase
A whole life policy is surrendered for a reduced paid up policy. The cash value in the new policy will
Nonforfeiture values
Cash value guarantees in a whole life policy are called
30
If a producer changes his or her residential address, the Department must be notified of the change within how many days?
Monthly payments until the insured recovers or the loan is paid off
Credit disability insurance will pay
Alien
An insurer who transacts insurance in this state but whose articles of incorporation are registered in canada is considered what type of insurer?
Substandard
If an applicants health is poorer than that of an average applicant, the policy may be issued
Participant
what is another term for a health insurance policy subscriber?
80%
According to the metal level classification of health plans, what percentage of health care costs will be covered under a gold plan?
The insured can select any specialist, but non-network specialist will have higher out of pocket costs.
An insured is anxious to get treatment for a health condition, and is convinced that a specialist is needed to cure the condition. If the insured has a PPO plan, which of the following is true?
Outpatient services
Which of the following is a preferred solution for reducing the cost of hospitalization?
Universal Life
Which of the following policies can be described as a flexible premium adjustable life policy
An accidental death rider
Which of the following riders pays a beneficiary a death benefit that is double or triple the face amount if the insureds death was caused by an accident as defined in the policy?
It provides the agents personal observation concerning the proposed insured
Which of the following statements is True regarding an Agents Report during policy application process?
Variable whole life
Which of the following types of insurance is investment based, has a level fixed premium, and a non guaranteed cash value?
Reciprocity
A producer in another state wants to become a producer in Alabama. The other state gives the same privileges to Alabama producers wanting to be licensed in that state as it does its own producers. Alabama therefore extends the privileges of its producers to the prospective producer of the other state. What is this called?
Benefits paid will be those that would have been purchased at the correct age
An applicant misstates his age on his application for health insurance policy. He states that he is 39, but his actual age is 49. When he files a claim, what will most likely happen?
Disability Buy-sell
Jason and Jeremy are business partners. If Jeremy should become disabled and unable to work, what type of insurance plan would help jason to buy jeremys business interest?
High Premiums
All of the following are features of catastrophic plans Except
Prospective and concurrent review
Utilization management consists of an evaluation of the appropriateness, necessity and quality of health care and may include
5 years
When replacement is involved, how ling must existing insurers maintain records of replacement notifications?
NAIC
Which of the following is NOT one the independent rating services that publishes guides to insurance companies financial integrity
As a fiduciary
when agents, brokers, or solicitors handle premiums for an insurer, they are acting in which capacity?
7 years
A life insurance policy qualifies a modified endowment contract (MEC) if the amount of premium exceeds the amount that would have provided paid up insurance in how many years?
The insureds each own their own contract
All of the following are true group life insurance Except
The primary beneficiary died before the insured
According to the common disaster clause, if the insured and primary beneficiary are killed in the same accident and it cannot be determined who died first, which of the following will be assumed?
