1. Exam Prep
  2. New York
  3. Life
  4. Insurance Regulation

Free Insurance Regulation Practice Questions

New York Life exam (series 17-51) — 60 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, Fair Credit Reporting Act, Fraud and false statements, Privacy and Do Not Call, USA PATRIOT Act AML, McCarran-Ferguson Act, Telephone Consumer Protection Act

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.

All Life topics

Practice: Insurance Regulation

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

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.