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Insurance Licensing NY-Life-Accident-and-Health Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Life Insurance Fundamentals | 25-30% | - Policy reinstatement - Policy types and provisions - Policy riders and endorsements - Dividends and nonforfeiture options - Beneficiary designations |
| General Insurance Principles | 15-20% | - Insurance contract fundamentals - Agent/broker duties and ethics - Ethical sales practices - Fair claims settlement practices - Underwriting principles |
| New York State Regulations | 20-25% | - NYS Insurance Law requirements - Licensing requirements and procedures - Fiduciary responsibilities - Replacement and churn rules - Advertising regulations - Consumer protection regulations |
| Accident and Health Insurance | 25-30% | - Dental and vision insurance basics - Long-term care insurance basics - Major medical coverage - Disability income insurance - Health insurance policy types (individual, group, HMOs) - Medical expense coverage |
Insurance Licensing New York Life, Accident and Health Insurance Agent/Broker Examination Series 17-55 Sample Questions:
1. 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.
2. An annuitant dies during the accumulation period. What happens to the cash value in the annuity?
A) The company keeps the cash value.
B) The cash value is paid into the estate.
C) The cash value is paid to the IRS.
D) The cash value is paid to the beneficiary.
3. The difference between the face value of a life insurance policy and its cash value is the
A) assumed amount.
B) net amount.
C) market value.
D) term value.
4. If an insured under a life insurance policy dies with an outstanding loan balance then the death benefit will
A) be reduced by the amount of the loan and interest owed.
B) be paid less the amount of the loan but not the interest.
C) be paid less the amount of the loan interest but not the principal.
D) not be paid until the loan is repaid.
5. Penalties that may be levied by the Department of Insurance for committing insurance fraud do NOT include
A) license suspension.
B) fines.
C) license revocation.
D) probation.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: A | Question # 5 Answer: D |



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