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

1. If an annuitant dies during the accumulation period, his or her beneficiary will receive

A) both the accumulated cash value and the total premiums paid.
B) no monetary funds.
C) the greater of the accumulated cash value or the total premiums paid.
D) the lesser of the accumulated cash value or the total premiums paid.


2. In a health insurance policy, an insured has an out-of-pocket limit of $10,000, a deductible of $500, and an
80%/20% coinsurance. The insured incurs $50,000 of covered losses in an accident. How much will the insurer have to pay?

A) $49,500
B) $39,600
C) $35,500
D) $40,000


3. An annuity product linked to a market-related rate of return is called

A) a fixed annuity.
B) an indexed annuity.
C) a tax-sheltered annuity.
D) a deferred annuity.


4. On or after January 1, 2014, employers with no more than 25 full time equivalent employees (FTEs) with average annual wages of less than $50,000 may be eligible for a tax credit of up to how much of the premiums paid by the employer?

A) 25%
B) 10%
C) 70%
D) 50%


5. Penalties that may be levied by the Department of Insurance for committing insurance fraud do NOT include

A) probation.
B) license suspension.
C) license revocation.
D) fines.


Solutions:

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

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