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Insurance Licensing New York Life, Accident and Health Insurance Agent/Broker Examination Series 17-55 Sample Questions:
1. Which is an accurate description of the relationship between the premiums of a whole life policy and the premium payment period?
A) The longer the payment period, the higher the annual premium.
B) The payment period is not related to the annual premium.
C) The shorter the payment period, the lower the annual premium.
D) The shorter the payment period, the higher the annual premium.
2. Which premium payment mode typically results in the lowest overall cost for a life insurance policy?
A) Annually
B) Semi-Annually
C) Quarterly
D) Monthly
3. For three weeks next month a company ' s employees will choose to enroll or remain enrolled in their HMO or change health plans. What is this situation called?
A) employer sponsored health plan
B) annual open enrollment
C) annual gatekeeper enrollment
D) coverage authorization period
4. Stranger originated life insurance violates which of the following statutory requirements?
A) Commission sharing.
B) Trust ownership.
C) Insurable interest.
D) Right of rescission.
5. An annuity that guarantees a given number of income payments, whether or not the annuitant is alive to receive them, is referred to as
A) an Irrevocable endowed annuity.
B) a life annuity certain.
C) a guaranteed survivor annuity.
D) an assured life annuity.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: B |
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