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Exam Review

Key Facts: NY Life & Health Exam

60%

First-Time Pass Rate

NY DFS 2024

150 Q

Exam Questions

NY DFS

40 hrs

Pre-License Education

NY DFS

$500K

Security Fund Limit

Highest in US

15 hrs/yr

CE Requirement

Annual

$48

Exam Fee

PSI

New York's life and health insurance exam has a 60% first-time pass rate. It requires 40 hours of pre-license education (20 life + 20 accident & health), 150 questions in 2 hours, and 70% to pass. New York is unique for Regulation 187 (best interest standard — stronger than suitability), Regulation 60 (replacement), guaranteed issue for individual health insurance, and the NY Security Fund coverage limits.

Sample NY Life & Health Practice Questions

Try these sample questions to review concepts for the NY Life & Health exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 625+ question experience with AI tutoring.

1Which New York state agency is the primary regulator of insurance companies and producers in the state?
A.New York Department of State (DOS)
B.New York Department of Financial Services (DFS)
C.New York Insurance Commission
D.New York Office of General Services
Explanation: The New York Department of Financial Services (DFS) is the primary regulator of insurance companies, producers, and other financial services entities in New York. DFS was created in 2011 by merging the former Insurance Department and the Banking Department. The Department of State handles real estate licensing, not insurance.
2How many total hours of pre-license education must a candidate complete before sitting for the New York life and health insurance producer exam?
A.20 hours
B.30 hours
C.40 hours
D.60 hours
Explanation: New York requires 40 hours of pre-license education for life, accident, and health insurance producers. This 40-hour requirement is divided into 20 hours of life insurance instruction and 20 hours of accident and health insurance instruction. This is a state-specific requirement that candidates must complete through an approved pre-license education provider.
3What is the breakdown of New York's 40-hour pre-license education requirement for life, accident, and health insurance?
A.30 hours life, 10 hours accident & health
B.20 hours life, 20 hours accident & health
C.25 hours life, 15 hours accident & health
D.10 hours life, 30 hours accident & health
Explanation: New York's 40-hour pre-license education requirement is evenly split: 20 hours must cover life insurance topics and 20 hours must cover accident and health insurance topics. This equal split reflects the importance New York places on both lines of insurance for its producer licensing exam.
4How many hours of continuing education (CE) must a New York insurance producer complete to renew a single line of authority?
A.12 hours every 2 years
B.15 hours every 2 years
C.24 hours every 2 years
D.15 hours annually
Explanation: Under New York Insurance Law Section 2132, a producer must complete 15 hours of continuing education during each 2-year license period to renew. CE in New York is on a biennial (2-year) cycle, not annual. Of the 15 hours, at least 1 hour each must cover insurance law, ethics and professionalism, and diversity/inclusion (plus 1 hour of flood insurance for property/casualty licensees). A producer who holds both a life/accident-health license and a property/casualty license must complete 30 hours (15 in each).
5Which of the following is required as part of a New York insurance producer's continuing education?
A.All 15 hours must be completed in-person each year
B.At least 1 hour each of insurance law, ethics, and diversity/inclusion instruction within the 15-hour biennial requirement
C.No ethics hours are required in New York
D.A minimum of 30 hours for a single line of authority
Explanation: New York requires 15 hours of CE per 2-year license period for a single line of authority. Within those 15 hours, a producer must complete at least 1 hour of insurance law instruction, 1 hour of ethics and professionalism, and 1 hour of diversity, inclusion, and elimination of bias (and, for property/casualty licensees, 1 hour of flood insurance). The total is 15 hours biennially, not 30, and courses may be completed online through DFS-approved providers.
6In New York, who is the head of the Department of Financial Services?
A.The Insurance Commissioner
B.The Superintendent of Financial Services
C.The Director of Insurance
D.The Secretary of Financial Regulation
Explanation: The head of the New York Department of Financial Services is the Superintendent of Financial Services. This position was created when the DFS was formed in 2011, replacing the former Superintendent of Insurance and Superintendent of Banks. The Superintendent is appointed by the Governor and confirmed by the State Senate.
7A New York insurance producer fails to complete the required continuing education hours by the deadline. What is the consequence?
A.The producer receives a warning letter with a 30-day grace period
B.The producer's license is automatically suspended
C.The producer must pay a fine but can continue selling
D.The producer's license lapses and they cannot transact insurance
Explanation: In New York, if a producer fails to complete the required 15 hours of continuing education for the 2-year license period by the deadline, the license will lapse and will not be renewed. A lapsed license means the producer cannot legally transact insurance business. The producer must complete the CE requirements and apply for license reinstatement before resuming insurance activities.
8In New York, an insurance producer must be appointed by an insurer within how many days of the first insurance application being submitted?
A.10 days
B.15 days
C.30 days
D.60 days
Explanation: Under New York Insurance Law, an insurer must file notice of a producer's appointment within 15 days of the date the producer first submits an application for insurance on behalf of that insurer. This appointment process ensures that the DFS has accurate records of which producers are authorized to represent which insurance companies.
9Which of the following types of insurance producer licenses does New York issue?
A.Life only, health only, or combined life and health
B.Life, accident, and health combined only
C.Separate life insurance and accident & health insurance licenses
D.A single universal insurance producer license covering all lines
Explanation: New York issues separate license types for life insurance and for accident and health insurance. A producer can obtain one or both licenses depending on the lines of insurance they wish to sell. While the pre-license education covers both lines together (40 hours total), the actual licenses are distinct and must be separately applied for.
10The New York DFS was formed in 2011 by merging which two former state agencies?
A.Department of Insurance and Department of Commerce
B.Insurance Department and Banking Department
C.Department of Financial Regulation and Insurance Board
D.Office of Insurance and Office of Consumer Protection
Explanation: The New York Department of Financial Services (DFS) was created in 2011 under the New York Financial Services Law by merging the former New York Insurance Department and the New York Banking Department. This consolidation was intended to create a more efficient and comprehensive regulatory framework for the financial services industry in the state.

About the NY Life & Health Exam

The New York life, accident, and health insurance exam covers DFS licensing requirements, New York Insurance Law, Regulation 60 (replacement), Regulation 187 (suitability and best interest), the NY Security Fund, and New York's extensive consumer protection regulations including guaranteed issue requirements.

Exam sponsor: New York Department of Financial Services (DFS) / PSI. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Questions

150 questions

Time Limit

2 hours

Passing Score

70%

Exam / Certification Fees

$55

Exam sponsor website

Reported exam pass rate: 60%. first-time pass rate (NY DFS 2024) This describes exam candidates, not OpenExamPrep users or results from using our resources. Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

25%

NY DFS & Licensing

DFS licensing, 40-hour pre-license education, license types, appointment, CE requirements (15 hrs/yr)

25%

NY Life Insurance Laws

NY Insurance Law life provisions, Regulation 60 replacement, Reg 187 best interest, free look, annuity suitability

25%

NY Health Insurance Laws

NY health policy requirements, guaranteed issue, community rating, NY State of Health marketplace, disability benefits law

25%

NY Ethics & Practices

Unfair trade practices, NY Security Fund, producer conduct, excess line, penalties

Preparing for the NY Life & Health Exam

What You Need to Know

  • Passing score: 70%
  • Exam length: 150 questions
  • Time limit: 2 hours
  • Exam / certification fees: $55 Official sources

Using Our Practice Resources

  • Work through all 625 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

NY Life & Health: Suggested Study Strategy

1Master Regulation 187: best interest standard for life and annuity recommendations
2Know Regulation 60: replacement disclosure requirements and procedures
3Understand NY guaranteed issue for individual health insurance (community rating)
4Study the NY Security Fund: $500K life and $500K annuity limits — highest in US
5Learn NY's 15-hour annual CE requirement (unique — most states use biennial)

Frequently Asked Questions

How hard is the New York life and health insurance exam?

The NY life and health exam has a 60% first-time pass rate with 150 questions in 2 hours, requiring 70% to pass. New York is known for having some of the most stringent insurance regulations in the country. Regulation 187 (best interest standard) and Regulation 60 (replacement) are heavily tested.

What is New York Regulation 187?

Regulation 187 requires insurance producers in New York to act in the best interest of the consumer when making recommendations for life insurance and annuity products. This goes beyond the traditional suitability standard — producers must consider the consumer's financial situation, needs, and objectives.

What is New York Regulation 60?

Regulation 60 governs life insurance and annuity replacements in New York. When a replacement is involved, the agent must provide the applicant with a Disclosure Statement and the insurer must provide a Policy Summary comparing the existing and proposed coverage.

What is the New York Security Fund?

The New York Life Insurance Company Security Fund protects NY policyholders when an insurer becomes insolvent. It covers up to $500,000 for life insurance death benefits and up to $500,000 for annuity benefits — among the highest in the nation.