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Life and Health Insurance Producer Exam

Replacement (NY): practice questions

Our Life & Health Insurance bank has 8 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · New York

Within how many days must a New York replacing insurer refund premiums when the applicant cancels during the free look?

  1. 1 year
  2. No refund is due once the policy is delivered
  3. 10 days of the request
  4. 90 days
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C. 10 days of the request — Regulation 60 protects consumers during replacement.

Question 2 · New York

How long is the free-look period for a life policy that replaces an existing policy in New York?

  1. 30 days
  2. 60 days
  3. 10 days
  4. 20 days
Show the answer

B. 60 days — The longer free-look period is a Regulation 60 protection.

Question 3 · New York

How long does a replaced New York insurer have to give the agent information needed for the Disclosure Statement?

  1. There is no deadline for the old insurer
  2. 2 days
  3. 20 days from the request
  4. 6 months
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C. 20 days from the request — If it misses the deadline, approximations may be used.

Question 4 · New York

When must the Regulation 60 Disclosure Statement reach a New York applicant?

  1. Only if requested
  2. No later than delivery of the new policy or contract
  3. After the free look ends
  4. At the next anniversary
Show the answer

B. No later than delivery of the new policy or contract — The free look on replacements is 60 days.

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