Free New York Life & Annuities Insurance Practice Exam 2
Prepare for your licensing exam with our realistic state-specific test questions, complete answers, and detailed rationales.
Exam Structure & Overview
Passing the New York insurance exam is the ultimate step toward launching your career as a licensed professional. This practice test consists of 25 high-probability questions sampled to match the general composition of topics tested on the real state licensing examination.
Whether you are preparing for the Life & Annuities lines or a combined license, practicing with mock questions helps cement concepts, improves time management, and reduces test-day anxiety.
Key Practice Focus Areas
- State Laws & Regulations: Specific rules, licensing duties, and consumer protections.
- Policy Provisions & Options: Standard contract clauses, riders, exclusions, and riders.
- General Principles: Underwriting basics, insurance concepts, and legal requirements.
Recommended Study PathTry this practice exam fully. Review each explanation carefully when an answer is submitted. If you feel ready to unlock the full comprehensive question database, visit the main state hub for deeper exam simulations.
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Test 225 Questions
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General InsuranceContracts & Terminology
Which section of an insurance policy lists the perils, property, or persons not covered by the contract?
AnnuitiesTypes & Payout Options
To sell variable annuities, a producer must hold which licenses?
NY Insurance Law & EthicsLicensing & Conduct
A New York insurance agent is appointed by an insurer. If the appointment is terminated, how many days does the insurer have to notify the DFS?
Life InsuranceBeneficiaries
Who has the right to change a revocable beneficiary designation?
Life InsuranceBeneficiaries
The facility of payment clause, often found in industrial or group life policies, allows the insurer to:
General InsuranceBasic Principles
A mutual insurance company is owned by its:
Life InsuranceBeneficiaries
If an insured and primary beneficiary die in a common disaster and the policy has a common disaster provision, what is the assumption?
Life InsuranceVariable Products
During the accumulation phase of a variable annuity, the contract owner's contributions purchase:
Life InsuranceTypes of Policies
Which policy allows the policyowner to adjust the premium payments, death benefit, and cash value accumulation?
AnnuitiesTypes & Payout Options
What is a flexible premium deferred annuity (FPDA)?
NY Insurance Law & EthicsSenior & Specialty Protections
What is the 'New York Life Settlement Act'?
General InsuranceContracts & Terminology
Statements made by an applicant on an insurance application that are believed to be true to the best of their knowledge are called:
General InsuranceUnderwriting & Policy Issuance
An agent's written observations of an applicant, including their financial standing and character, are recorded in the:
Life InsuranceSocial Security (OASDI)
Under Social Security, a fully insured deceased worker's unmarried child under age 18 is entitled to a survivor benefit equal to what percentage of the worker's PIA?
NY Insurance Law & EthicsNY Guaranty Fund & Consumer Protection
What is the purpose of the New York Life Insurance Company Guaranty Corporation?
Life InsuranceRiders & Provisions
The ownership provision in a life insurance policy grants the policyowner a bundle of rights, which typically includes all of the following EXCEPT:
AnnuitiesTypes & Payout Options
The annuitization of a deferred annuity contract must begin by what age to avoid penalties?
NY Insurance Law & EthicsSenior & Specialty Protections
In New York, the open enrollment period for Medicare Supplement insurance begins:
NY Insurance Law & EthicsLicensing & Conduct
In New York, what type of license is required to sell variable life insurance and variable annuities?
Life InsuranceTypes of Policies
An increasing term life insurance policy provides:
Life InsurancePremiums & Taxes
Which of the following describes the 'cost basis' of a life insurance policy?
AnnuitiesTypes & Payout Options
What is the primary difference between a Group Annuity and an Individual Annuity?
Life InsuranceGroup Life Insurance
Which of the following is considered an eligible group for group life insurance in New York?
Life InsuranceRiders & Provisions
What is the purpose of the Automatic Premium Loan (APL) provision?
Life InsuranceTypes of Policies