Insurance NYS Insurance Licensing Exam 4.0 (4 reviews) Term 1 / 35 insurance transfers Click the card to flip Definition 1 / 35 the risk of an loss for an individual or business to an In regards to the Affordable Care Act (ACA), which of these is NOT a role of a health insurance exchange? The state-specific portion is generally more dry information (which may make it harder to focus and remember when studying). When disability buy-sell insurance benefits exceed a partner's cost basis, which of the following is correct? Additional extension of either 30 days ($29.00) or 90 days ($49.00) may be purchased to extend your study time. Accident and health insurance that covers special groups of persons is called what type of insurance? *Larry is about to file an accident and health insurance claim. Kindly note that this is not an open book test. Payment options are: credit card, electronic funds transfer (e-check) or paper check. Monitor Requirements Self-study final exams are not required to be monitored. Which of the following is NOT included as a hospice benefit under a major medical plan? Local calls can be made to (212) 480-6400 or (518) 474-6600. Depending on the type of test, the proctor may or may not have to be certified. If you are only getting one line (ex. 3. Once youve got an effective routine, capitalize on it. If group Health benefit levels are too high, what could be the end result? Since most states charge a fee to take their life insurance exam, expect to pay between $40-$150. Please note: The online access period for your insurance licensing course is 90 days. It features unlimited exam attempts that are randomly generated. When you skip back to the already answered question, you may find that reading it again will help you solve the current question. What factor could possibly reduce these benefits? Which of the following does a Medicare Advantage enrollee typically pay for? Another aspect to note is that you can apply for one license, then come back at a later date and apply for another. The Department will review an application, verify that there is nothing in the applicants background that should prevent the license from being issued, and then issue the appropriate license. The price of the insurance exams depends on the state that you are applying in. Distributions that she has made for anything other than qualified medical expenses are considered taxable and subject to a penalty of, Nonqualified distributions from a health savings account (HSA) have a tax penalty of. Kaplan Financial Education offers exam-focused prelicensing and exam prep solutions that simplify the learning process by combining digestible readings, lectures, and videos with tools that apply insurance concepts to real-life scenarios. To register and schedule an exam online. To receive an insurance license an applicant must: 1. In the request, include the applicants name, the trade name, and the type of license for which you are applying. If you are unable to find the answer to your licensing question here, check our FAQs.If you have a question or need assistance, call (800) 342-3736 (M-F, 8:30 AM to 4:30 PM). Tim had an on-the-job accident and collects benefits from his individual disability income policy. 4. Once its over you wont have to worry about it any longer. The Department is authorized to license those who wish to operate as insurance agents, brokers and consultants, independent adjusters and public adjusters, and others, as defined in New York Insurance Laws. Complete a New York Insurance Pre-license Course ( ExamFX $189+) Take the New York Life Insurance Licensing Exam ( PSI $33) Complete a New York Life A temporary producer license may be initially issued for a maximum period of. Here at StateRequirement, we want you to be able to walk into the testing center with confidence that you will leave being one step closer to getting yourinsurance license. \text{0.4} & \text{0.6} & \text{0.67} & \text{BB} & \text{10.0}\\ To apply for a license, the applicant must:Be 18 years of age or older.Complete prelicensing education requirements.Pass the applicable New York State examination within 2 years of applying for the license. Submit a completed license application to the Department within two years of passing the exam. Pay the licensing fee. Agents will likely share the commission, In New York, a group accident and health certificate of insurance must contain, 4. Prepare to Pass the New York Insurance Exam Kaplan Financial Education offers exam-focused prelicensing and exam prep solutions that simplify the learning process by combining If youre just not good at tests, it could be lots of things, one of them being test anxiety. Of course they do. Licensed insurance consultants derive their income from, The disability income policy most likely to have been issued on a substandard basis is, 3. This interactive calendar helps you plan for specific days off and calculates the average amount of time you will be studying each day. A newly issues license will be between 24 and 48 months duration. Unfortunately, this test will still take some time to study, but with these strategies, you will have much less of a chance to get tripped up while taking the exam. Taking multiple attempts at the exams is possible, but can get rather expensive. Be sure that you take the time to study properly using the tactics in this article, and go into the exam with confidence that you have what it takes to pass. Or if youre more productive at nighttime, take a larger break earlier on so youre ready to settle down come evening. The main role of accident and health and disability insurance is to, 2. protect against medical care costs and the loss of earning power, With regard to the use of nonpublic personal information, the phrase opt out means, 4. This tutorial will show you how to click the answer boxes, move on to new questions, change answers, etc. Were sure to get in the weeds with this guide. So, just follow the instructions. If not, just eliminate the options that are definitely wrong, then guess between the options that are left. The tests may be taken in a back-to-back manner, but are separate in the fact that you can pass one, but not the other. Under the Fair Credit Reporting Act, which statement is true? The state exam vendor for the New York is PSIexams.com. Since this is a multiple choice exam, as opposed to an essay exam, you wont be writing any of your answers in sentences. This test is provided by PassPen. TopUniversities. As Albert Einstein said, If you cant explain it to a six-year-old, you dont understand it yourself.. This information will be of great use to you when you want to stay in compliance with the law, but it wont tell you that bundling your home and auto will give you a 12% discount. Elliott estimates that if it had no debt, its unlevered beta, $b_{U}$, would be 1.2. a. When determining who is eligible for dependent coverage, According to the Affordable Care Act, new Health Insurance Marketplaces are established by the, 4. The time spent on this tutorial will not reduce your allotted testing time whatsoever. Do your hands begin to sweat? Depending on the licenses that you are seeking, you could be taking anywhere from two to four exams if you are going for both Life and Health, and Property and Casualty licenses. Insurance Licensing Questions If you are unable to find the answer to your licensing question here, check our FAQs. We may joke about this information being dry, and not everyday knowledge, but there is a lot of fraud surrounding insurance, and having this information all under your belt will help you be a better agent for your clients, and may even keep you out of legal hot water. Where is the difference between a standard risk and a substandard risk reflected? Add to Cart. Disclaimer: 180 Licensing Exam Prep, Inc. makes every effort to ensure the accuracy of this article, information is subject to change. In such cases, you would only need to retake the exam that you did not pass. If you are getting more than one type of license, then head back to the study table for your next subject. Please note:The online access period for your insurance licensing course is 90 days. But, the way 180 Licensing courses are structured, it is easy to review the specific sections where help is needed to prepare to retake the missed section as soon as desired. (You will not be provided your actual test score when you pass.). Planning your exam preparation is made simple with our customizable Study Calendar that schedules daily tasks based on your study time frame and exam date. There is no national average of pass-fail stats, but based on the states who publish results, the average number that we see is 55% of participants pass the exams on their first attempt. There are 4 basic exams given in most states Life, Health, Property, and Casualty. The firm does not currently use preferred stock in its capital structure, and it does not plan to do so in the future. *Which of these statements reflects an accurate portrayal of Medicare SELECT? Select a line of authority to explore study tools and packages. Test-taking is a mental game, and you should do everything that you can to put yourself in the right headspace. Must Read: Our National online, self-paced, exam prep courses Choose the Type of Insurance You Want to Sell. Review the Licensing Requirements. Complete Your Prelicensing Education Requirement. Make a Reservation to Take Your ExamGather What You Need to Take Your Exam. More items After you have finished answering all of the questions you knew, go back to your unanswered questions. Tons of people before you have compiled their study materials, making this awesome resource for learning terms. Under what circumstances must an agent's insurance business records be provided to the New York Superintendent of Insurance? \text{0.6} & \text{0.4} & \text{1.50} & \text{C} & \text{12.0}\\ Candidates who score below 70% will need to retake the exam and pay the fees again. Third-party administration has become popular in accident and health insurance due to the expansion of. *Only included for states that require a certification exam to be completed and a Certificate of Completion to be earned and issued. The pass rate is slightly higher for retake attempts. (Again, some states split the life exam and the health exam, so be sure to understand how your state works). This handy reporting tool helps you understand the topic areas youre doing well in and the topic areas that need some work before exam day. A local hotel charges $250 to rent a conference room for a half day and$400 for a full day. He has a health condition for which medical treatment was recommended by a physician within 6 months prior to the policy's effective date. Whether or not we like it, tests like these are sometimes more a measure of your ability to test well, rather than how well you know the material. Which term refers to insurance written on the interests of the licensee, the licensee's employer, or the licensee's immediate family? Our Live Online, Live & OnDemand, and Self-Study Online insurance licensing solutions provide a safe and convenient learning environment for our students, customers, and community. The PSI state licensing exam contains 100 questions. Its treasury staff has consulted with investment bankers. Each states exams will vary depending on their specific rules and regulations. 180 Licensing thanks you for entrusting your exam preparation to us! Just search for the test type and state, then choose whose list you want to use, or create your own. MP3 audio files The full amount is non-taxable to the partner, The benefit period of Medicare Part A begins on the first day the insured, The amount of a covered loss to be paid by the insured before a major medical expense policy begins to pay is called the. One agent provides the other with a referral that results in a sale. Reschedule 2 days in advance before 5:00 PM Pacific Standard Time. The PRIMARY purpose of the replacement rule is to: 2. protect policyowners from misrepresentations and loss of benefits, 2. qualified and licensed to do business in New York. Which of the following guidelines does NOT apply under the pregnancy provision of the Civil Rights Act? It requires study and knowledge of more lines of insurance business than any other state, PLUS accident and health insurance, the language of medical reports and medical terminology, and vehicle parts and construction. Which is a disadvantage to a flexible premium annuity? If you go into it with confidence, you will come out on top. Contact the employer if an employee stops coverage under a plan offered in the exchange, Chris has a single major medical contract which covers all medical expenses. \text{0.8} & \text{0.2} & \text{4.00} & \text{D} & \text{15.0}\\ Often, this is your studying paying off unconsciously. Please note: The online access period for your insurance Any Information on this site is not guaranteed or warranted to be correct, accurate, or up to date. However, the number of questions totally depends on the state you are in.Choose your stateto find out more about the test you will be taking. We offer the only complete insurance exam prep system on the market today. 4. Getting your ideas down in this brief format can then help you to quickly recall everything you need to know during the exam.. This website uses cookies to ensure you get the best experience on our website | When readers purchase services discussed on our site, we often earn affiliate commissions that support our work. A.D. Banker will report your completed hours to the New York Department of Financial Services within 1 business day. A reciprocal insurer typically has an administrator who manages the premiums collected from the group's members. Designed to replicate the state exam experience, the Mastery Exam should be used to gauge your overall readiness of how you will perform on the actual state licensing exam. Find a willing party and borrow some time from them. Which of the following statements BEST describes the HIPAA portability rules for an individual who changes from one group medical plan to another? Be smart, and work on one subject at a time. 1. Additional extension of either 30 days ($29.00) or 90 days ($49.00) may be purchased to extend your study time. 1. These tests are not just blow-off exams and can be very data-intensive. 3. PSI requests that you be at the Test Center 30 minutes prior to your scheduled exam. Starting in 2016, businesses with up to ___ employees will be defined by the ACA as a "small business". Proctored tests can be administered on a computer or using paper and pencil. A study has shown that people who exercised within four hours of studying a subject were able to retrieve the information when tested later. The Essential Package gives you the flexibility of studying on your schedule. The range of exam prices is anywhere from $40 to $150, averaging around $70 per attempt. We wish you the very best with your new career. Study hard, then take the test. Use this to your advantage. Review your performance on previously taken exams. If you deposit $2,000 in a bank account that pays 6% interest annually, how much will be in your account after 5 years? He developed 180 Licensing to help those seeking their insurance licenses to pass their exams as fast and easy as possible. Pick between any of the following options. Which of the following would permit an insurer to delay a covered disability policy claim? An attending physician's statement is best described as, 4. a summary of medical history from the physician listed on the application, *Notice of information practices must be given to a policyholder at least. Post-termination extensions of medical benefits must apply equally to pregnancy, Short term group disability income benefits are, 2. a percentage of weekly earnings up to to a stated maximum. NY Requirements Filters Exam Requirements: Self-Study exams are closed-book and do not require a monitor. Additional extension of either 30 days ($29.00) or 90 days ($49.00) may be purchased to extend your study time. An accident and health insurer has just received written proof of loss from one of its insureds. Medicare supplement policies may not include renewal provisions less favorable to the insured than. Waives the normal total disability requirements, *Short term group disability income benefits are. Local calls can be made to (212) 480-6400 or (518) 474-6600. Complete state-mandated CE with ease by accessing Kaplan's entire CE library or selecting an individual course that pertains to your practice. We can still take a lesson though: On test day, make sure that you take plenty of time to put yourself in the right headspace. So, you can come back to earlier questions as long as you have not left that test and started another one. Which of these is NOT considered a Federal punishment for unfair and deceptive insurance practices? Make sure you keep drinking plenty of water throughout your revision, and also on the exam day. The permitted time limit 120 minutes (two hours). In fact, exercising regularly is known to increase vascular strength and helps blood flow to your brain, specifically, the hippocampus, which is the memory center of the brain. NY Personal Lines Insurance Agent/Broker Exam Series 10-54. Go ahead and bookmark this page so you can easily find it the next time you need it. For your states exam outlines, visit the Choose Your State page, and follow the directions from there. In the simplest terms, proctored means someone is present while the candidate is taking the assessment. Individuals must pass this exam to receive a certificate to sit for the state exam. The New York Independent General Adjuster license exam proudly boasts its reputation as the most difficult adjuster licensing course in the United States. This means that if you arent sure about a question, you still have a chance of getting the answer correct. *Mike recently lost sight in both eyes. Be sure to read on, as we will give you our best ways to make sure that your ability to test is as effective as you can make it. Before beginning, know that the best tool to use when studying for an insurance exam is apre-license education coursefrom a reputable insurance education company. Most states use third-party testing companies, such as Pearson VUE or Prometric to administer their exams. Add to Cart. This is an easy fix, just make sure you eat well on test day! View state-specific insurance licensing requirements and exam information such as exam provider, contact information, and more. What to Expect on Insurance License Exam DayInsurance License Exam Day Arrival. Be sure to show up a little earlier than your testing time. Check-in. When you arrive at the test center on the day of the pre-arranged exam, you must check in before your exam time.In the Testing Room. There may be cameras present in the testing room. Results. What is this an example of? Reinforce important insurance concepts by combining study tools with a study package, or using them on their own. Under what circumstance does an accident and health insurer have the right to request an autopsy? *Which of these is NOT considered a preventative service in a dental plan? For more information on passing the life and health insurance exam, read ourLife and Health Insurance License Exam Guide. The final authority for the latest insurance licensing information is your states department of insurance. What is the length of the free look period when a Medicare Supplement insurance policy is replaced? The amount of time that you have to finish each exam will be set by the state and testing facility. It is easy to misremember facts like: you have 30 days for one type of policy, and 35 for another. How hard is the insurance license test? This is one we can absolutely help with. Supervision by DFS may entail chartering, licensing, registration requirements, examination, and more. Thank you for your support. Group health coverage is NOT available for workers over the age of 65. Before you take the exam, ask the proctor if there is any penalty for guessing. We dont know any states that practice this, but its worth asking. Remember, understudying (not knowing the material) is the number one cause of testing anxiety. The testing centers all require that you bring identification and other materials with you on the day of your exam. 4. Do not jeopardize your career by sending us exam questions. The best way to approach this situation is to gather all of your study materials, then call your testing company and schedule a time to take the exam. The answer to this question will obviously vary from person-to-person and state-to-state. How much will it cost to rent the conference room for two and one-half days and to provide lunch and dinner for 16 people for two days? Which of the following best describes the tax treatment of medical expense policies for the self-employed? CompuCram offers a unique learning methodology that guides you step-by-step from the initial pre-assessment through all of the insurance exam preparation options. Federal payroll and self-employment taxes. Secure a certificate of authority from the Department of Financial Services. Sleep is absolutely correlated to your testing success. Once you have a target exam day (approximately three weeks out), follow the details found in our handy guide All About Registering For and Taking The New York Insurance Exam. Same as the Life and Health exam, be sure that you take the time to study properly using the tactics in this article, and go into the exam with confidence that you have what it takes to pass. *Which of the following are used by most insurers when determining the premiums for large groups? What type of policy is this? Were not asking anyone to become an Olympic weight lifter, here. Practice your test-taking skills, drill into specific topics, and test your knowledge with exam-focused questions. If you leave it unanswered, you will definitely get it wrong. Be sure to bring a valid form of identification. Non-resident online licensing is also available to first time non-resident applicants applying for an INDIVIDUAL license through the website of the National Insurance Producer Registry (NIPR). The extension can be ordered from the Extension icon on your Student Dashboard. Pass Score: 70%. The license required for an insurer to conduct business in the state. This type of disability coverage is called, A copy of all Medicare Supplement advertisements must be submitted for approval to, Under a key person disability income policy, benefits will be received as. If you have taken an approved prelicensing education course, have a valid certificate, and still need a passing score, use our materials and supplement with the state law material from your prelicensing provider. NY Property and Casualty Insurance Agent/Broker (150 minutes) You can take this test on Computer. Remember, you have plenty of time to finish the test, but this doesnt mean you can spend five minutes trying to solve every difficult question. Which of the following statements BEST describes a double indemnity provision in travel accident insurance? Which of the following statements BEST describes employer contributions for employer provided health insurance? You dont have to! Choosing the Basic package gets you prepared to pass the Adjuster Licensing state exam. The insurer no longer offers the plan to any employer. Why were Exchanges implemented by the Affordable Care Act (ACA)? If it is convenient, we recommend that you visit the Test Center before the exam date so you can check out the parking, see where the test room is, locate the rest room, etc. Which of the following actions must she take during the open enrollment period? Checkpoint Exams can be accessed on the student dashboard. We think the same-day scheduling rule is a good one, as it gives you a true opportunity to reflect on your studies if you dont pass on the first attempt. Make sure you have enough space to spread your textbooks and notes out. Take the time, and be prepared. Weve scoured through tons of resources to find the information you need onhow to pass an insurance exam(such ashow many questions are on the insurance examas well as tips and tricks to help you prepare on exam day). If you can keep your body sharp, your head will be sharp too. For some, this may cause some anxiety, which we will cover later in this article. The insured must now wait 60 days before, 2. bringing legal action against the insurer, The type of health insurance in which underwriting procedures are the most restrictive is. Build yourself a solid base of information before you attempt. Customers must be given the chance to stop disclosure, EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is. A disabled business owner who has payroll and business expenses paid for has what kind of insurance policy? The shortcut method on how to pass the test without studying! What Does an Insurance Claims Adjuster Do? Insured uses preferred providers in exchange for paying lower premiums, *Claims settlement practices of insurers are regulated by, An HMO prescription drug plan is generally characterized by, 3. drugs dispensed through participating pharmacies, Individuals who participate in an HMO plan are called. Keep in mind, however, that since this information is all put together by individuals, theres a chance that some of it could be less than accurate. document.write( new Date().getFullYear() ); Kaplan, Inc. All Rights Reserved, Self-Study Online Course (90-Day Access Period). The higher your Mastery Exam score, the more likely you will score well on the state exam. Testing is a mind game, and you need to control the factors that you can to yield the best results. She has had issues in the past with her gall bladder that would be considered a pre-existing condition. c. If Congress were to dramatically increase the corporate tax rate, what effect would this likely have on Elliotts target capital structure? Non-cancelable with a health condition exclusion rider. The number one reason for not passing an exam is not allowing enough time to study. Time: 2 hours for Personal Lines and Accident and Health, and Life exams; 2.5 hours for Property & Casualty and Life, Accident & Health exams.
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