NY Life, Accident and Health
Insurance Laws and Regulations
Exam Questions and Answers
100% PASS
An agent who offers to pay the first insurance premium as an inducement for an applicant to
purchase a policy may be found guilty of—ANSWER--rebating
A temporary license may be issued by the Insurance Superintendent to which of the
following individuals?—ANSWER--The surviving spouse of a deceased agent
An insurance agent is defined as an individual who transacts business on behalf of—
ANSWER--an insurance company
An agent who makes false statements about the financial condition of an insurer may be
found guilty of—ANSWER--defamation
Which of the following was specifically designed to address STOLI and IOLI practices?—
ANSWER--NCOIL Act
What must the policy summary in a life insurance policy include?—ANSWER--the name and
address of the insurance agent or broker
Insurance Laws and Regulations
Exam Questions and Answers
100% PASS
An agent who offers to pay the first insurance premium as an inducement for an applicant to
purchase a policy may be found guilty of—ANSWER--rebating
A temporary license may be issued by the Insurance Superintendent to which of the
following individuals?—ANSWER--The surviving spouse of a deceased agent
An insurance agent is defined as an individual who transacts business on behalf of—
ANSWER--an insurance company
An agent who makes false statements about the financial condition of an insurer may be
found guilty of—ANSWER--defamation
Which of the following was specifically designed to address STOLI and IOLI practices?—
ANSWER--NCOIL Act
What must the policy summary in a life insurance policy include?—ANSWER--the name and
address of the insurance agent or broker
