Free 20-question diagnostic for the New York Life, Accident and Health exam, scored by section with the reasoning behind every answer.
Start the free diagnosticNew York regulates insurance through the Department of Financial Services, led by a Superintendent rather than a Commissioner. Regulation 187 requires producers to act in the consumer's best interest on life insurance and annuity recommendations — only the consumer's interests may be considered, and compensation may not influence the recommendation.
Regulation 60 governs replacements: the new policy or annuity must allow a 60-day return with a full refund.
New York producers complete 15 credits of continuing education per licensing period once the licence has been in effect for more than two years, including at least one hour each of insurance law, ethics and professionalism, and diversity, inclusion and elimination of bias.
Four questions from the Retake Plan bank. Open each one to see the answer and the reasoning.
Answer: C. Only the interests of the consumer Only the consumer's interests. This is the operative sentence of the regulation and the one most likely to be tested verbatim.
Answer: A. 60 days of delivery 11 NYCRR 51.6 requires the replacing insurer to allow a 60-day return with an unconditional refund of premiums — or, for variable contracts, the cash surrender value plus all fees and charges. It is the longest free look in this bank and a signature New York rule.
Answer: B. 15 credits Fifteen credits under Insurance Law section 2132 — markedly lower than the twenty-four hours in Texas, Florida, California and Georgia. The Department requires at least one hour each of insurance law, ethics and professionalism, and diversity, inclusion and elimination of bias within those fifteen.
Answer: B. Superintendent Superintendent, not Commissioner. The title differs because the office supervises banking as well as insurance, and questions often use the wrong title as a distractor.
See which sections are costing you points. Twenty questions, about eight minutes, scored by section — free, no signup to start.
Start the free diagnosticThe best interest standard for life insurance and annuity recommendations: the producer may consider only the consumer's interests, and compensation may not influence the recommendation.
60 days from delivery, under Regulation 60 (11 NYCRR 51.6).
15 credits per licensing period, once the licence has been in effect for more than two years.
Sources: New York Insurance Law § 2132; 11 NYCRR 51.6 (Regulation 60), 11 NYCRR 224 (Regulation 187); NY DFS continuing education and renewal pages. Retake Plan is an independent study resource, not affiliated with any state insurance department, Pearson VUE or PSI.
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