Free Insurance Regulation Practice Questions
New York Life exam (series 17-51) — 184 practice questions.
Subtopics: Continuing education, License duration, Acts requiring a license, Definitions, Temporary license, Reporting actions, Change of address, Appointment and termination, Fiduciary duty, Commissions to unlicensed persons, Rebating, Unfair discrimination, Twisting, Misrepresentation, Unfair trade practices, Unfair claims settlement, Regulator, Certificate of authority, Insurance fraud warning, Fraud reporting, Replacement, Replacement free look, Best interest standard, Producer compensation disclosure, Privacy, Guaranty corporation, Penalties, Broker definition, Consultant license, Nonresident license, Assumed name, Business entity license, Prelicensing education, Referral compensation, Records retention, Cybersecurity, Advertising, Fraud prevention plan, Insurance fraud degrees, Examination of insurers, Solvency reporting, Department of Financial Services, Coercion, Churning, Replacement disclosure statement, Boycott, Grounds for discipline, Guaranty corporation scope, Cease and desist, Sharing commissions, Suitability information, Material misrepresentation, Unauthorized insurer, Force of regulations, Appointment filing, Termination for cause, Producer response to termination, Termination reporting immunity, License expiration, Renewal filing, License application deadline, Veterans fee exemption, Licensing exemptions, Agent and broker licenses, CE required topics, CE carryover, CE first period, Nonresident CE, CE failure, Temporary license term, Temporary license limits, Revocation waiting period, Penalty in lieu of revocation, General penalties, Willful violation penalty, Hearing notice, Home state change, Premium accounts, Controlled business, Consultant memorandum, Broker fees, Compensation request after issue, Disclosure record retention, License display, Producer advertising, Advertising unauthorized insurers, Fraud civil penalty, Fraud reporting deadline, Discrimination by sex, Discrimination by race, Mental disability treatment, PrEP protection, HIV testing consent, Rebating limit, Guaranty association advertising, Privacy of health information, Cybersecurity certification, Representations, Altering applications, Breach of warranty, Unfair claims practices, Producer obligations, Prelicensing hours, Professional designation exemption, Variable products license, Reg 60 definition, Definition of Replacement form, Important Notice timing, Replaced insurer response, Replacement refund, Replacement exemption, Replacement patterns, Replacement counseling, Reg 187 scope, Reg 187 replacement review, Reg 187 documentation, Financial planner title, Insurer supervision, Senior designations, Senior designation violation, Regulation 60 duties, Fair Credit Reporting Act, Fraud and false statements, Privacy and Do Not Call, USA PATRIOT Act AML, McCarran-Ferguson Act, Telephone Consumer Protection Act, Investigative report notice, Investigative report disclosure, Obsolete information, FCRA purpose, Consumer rights, False pretenses penalty, 18 USC 1033 consent, 18 USC 1033 penalties, Embezzlement by insurance persons, False statements to regulators, AML covered products, Suspicious activity reports, Cash reporting, AML program elements, Money laundering red flags, Do Not Call hours, Established business relationship, GLBA opt-out, GLBA initial notice, Nonpublic personal information, McCarran-Ferguson, South-Eastern Underwriters, Boycott exception, NAIC role, Federal securities regulation, Prospectus delivery, Producer license required, Appointment, Commissioner powers, False advertising, Boycott coercion intimidation, Commingling, License revocation causes, Nonresident licensing, National Producer Number, Replacement definition, Replacement notice, Replacing insurer duty, Annuity best interest, Best interest obligations, Consumer profile information, Annuity training, Illustration signatures, Illustration prohibitions, Buyer's guide timing, Viatical settlement, Viatical broker duty, Settlement provider, Settlement vs surrender
Read the Insurance Regulation study guide
Sample questions & answers
1. How many credit hours of continuing education must a resident New York life producer complete during each two-year licensing period?
15 hours
New York requires 15 credit hours of continuing education during each biennial licensing period to renew a producer license.
2. A resident New York insurance producer license is generally issued and renewed on what basis?
Biennially (every two years)
New York producer licenses are issued for and renewed on a biennial (two-year) basis.
3. Which activity constitutes acting as an insurance agent or broker in New York and requires a license?
Selling, soliciting, or negotiating insurance for compensation
New York requires a license to sell, solicit, or negotiate insurance; these acts define an agent or broker.
4. Under New York Insurance Law a person who acts for an insurer in selling or negotiating its contracts under an agency agreement is a(n):
Insurance agent
An insurance agent acts for an insurer under an agency contract; a broker acts on behalf of the insured.
Practice: Insurance Regulation
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
