State RegulationsNY specificDifficulty 1/5
Under New York law, advertising in connection with New York life settlement contracts must:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under N.Y. Ins. Law §7809, advertising connected with life settlement contracts is regulated by the Superintendent of Financial Services and may not be false, misleading, or deceptive to the consumers it targets — often older policy owners weighing a major financial decision. The rule polices the content of settlement marketing; it does not hand pre-approval to issuing insurers, restrict who may advertise, or limit the medium in which advertising appears.
Why the other options are wrong
- A) The statute does not route advertising through the issuing insurer for pre-approval — the standard is truthfulness enforced by the Superintendent.
- C) §7809 is not a restriction on which licensed businesses may advertise; it regulates the truthfulness of the advertising itself.
- D) No medium restriction exists — the rule reaches the content wherever the advertising appears.
Memory hook
§7809 = truth in settlement selling: never false, never misleading, never deceptive.