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

SectionWeightObjectives
Topic 1: 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. Beneficiary Designations
        • 2. Non-forfeiture Values and Dividends
          Topic 2: 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. Risk Management and Insurable Interest
                  • 2. Contract Law and Policy Structure
                    Topic 3: Accident and Health Insurance35%- Government Health Programs
                    • 1. Medicare and Medicaid
                      • 2. New York State Specific Programs
                        - Health Insurance Basics
                        • 1. Medical Expense and Disability Income
                          • 2. Group vs Individual Coverage
                            - Policy Provisions and Claims
                            • 1. Eligibility and Enrollment
                              • 2. Coordination of Benefits
                                Topic 4: Underwriting, Marketing and Sales Practices15%- Application and Underwriting Procedures
                                • 1. Risk Classification and Selection
                                  - Sales and Customer Service
                                  • 1. Suitability and Disclosure Requirements

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

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

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


                                    2. Which of the following actions is NOT considered the Business of Life Settlements?

                                    A) Negotiating a life settlement contract through a life settlement broker.
                                    B) Assigning a life settlement contract as a collateral loan.
                                    C) Soliciting a life settlement contract from out of state.
                                    D) Issuing a life settlement contract by mail.


                                    3. Which of the following statements is TRUE concerning classification of risks?

                                    A) Preferred risks pay a lower premium than standard risks.
                                    B) A preferred individual is issued a rated policy.
                                    C) Substandard applicants are never issued policies.
                                    D) Rated policies merit lower premiums.


                                    4. Under Workers ' Compensation, injured employees are covered for all of the following losses EXCEPT

                                    A) occupational illness.
                                    B) loss of wages.
                                    C) pain and suffering.
                                    D) medical expenses.


                                    5. According to the Affordable Care Act, a child can remain on a parent ' s health benefit plan until the child

                                    A) marries.
                                    B) reaches age 19.
                                    C) graduates from college.
                                    D) reaches age 26.


                                    Solutions:

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

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