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

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

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

                                    1. The statement, " Any person who knowingly and with intent to defraud any insurer or other person files an application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act, which is a crime, and shall also be subject to a civil penalty... " MUST appear in all New York

                                    A) insurance documents distributed to the general public.
                                    B) applications for insurance and on all claim forms.
                                    C) applications for credit.
                                    D) insurance communications with consumers.


                                    2. Under the grace period, an insured submits a $300 claim for medical expenses. The insurer notes that the insured has a past due premium of $100, and as a result, the insurer only pays $200. Which of the following provisions covers this situation?

                                    A) Unpaid premium.
                                    B) Payment actions.
                                    C) Misstatement of age.
                                    D) Payment of claims.


                                    3. If a mother and child are without life insurance, what is the MAXIMUM amount of insurance the mother can purchase on the life of her dependent 5-year-old daughter?

                                    A) There is no limit
                                    B) $50,000
                                    C) $25,000
                                    D) $10,000


                                    4. The limitation expressed in limited payment policies is a limit on the number of annual premiums or the

                                    A) age beyond which premiums will no longer be required.
                                    B) maximum amount of benefits payable.
                                    C) maximum amount available for loan purposes.
                                    D) minimum interest rate on policy cash values.


                                    5. Clark will be doing business as an agent. When MUST he be appointed by the insurer?

                                    A) At the time the license application is submitted.
                                    B) Within 20 days after commissions have been paid.
                                    C) Within 15 days of signing the agency contract.
                                    D) Within 15 days of submitting his license application.


                                    Solutions:

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

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