Insurance Exam Guide
New York Life & Health Insurance Exam 2026
A complete walkthrough of everything involved in getting your New York Life, Accident & Health insurance license — from pre-licensing education to receiving your license number. This guide covers eligibility, education requirements, the PSI exam, what happens if you fail, and how to prepare. Ready to start practicing? Try FREE practice questions from our New York question bank.
What This License Is
A New York Life, Accident & Health insurance license allows you to sell life insurance, annuities, accident insurance, and health insurance to individuals and businesses in New York State. It is issued by the New York Department of Financial Services (DFS) and is required for anyone who solicits, negotiates, or sells these products in the state.
New York distinguishes between agents (who represent insurance companies) and brokers (who represent the insured). Both require passing the same state exam, but the licensing process differs slightly. This guide focuses on the agent license, which is the most common starting point.
The licensing process has three main steps: complete pre-licensing education, pass the state exam administered by PSI, and submit your license application through NIPR or directly to the DFS. New York does not require fingerprinting for Life, Accident & Health license applicants.
Eligibility Requirements
To apply for a New York Life, Accident & Health insurance license, you must meet the following requirements:
Age: You must be at least 18 years old.
Pre-licensing education: You must complete a DFS-approved 40-hour pre-licensing course before sitting for the exam. More on this below.
Background: You must disclose any criminal history, regulatory actions, or prior license denials on your application. A criminal record does not automatically disqualify you, but certain convictions — particularly those involving fraud, dishonesty, or breach of trust — may result in denial.
Residency: You must be a New York resident to apply for a resident license. Non-residents can apply for a non-resident license if they hold a valid license in their home state.
There is no degree or prior experience requirement. Anyone who meets the age and education requirements can apply.
Pre-Licensing Education
Before you can take the licensing exam, you must complete a DFS-approved pre-licensing course. New York has some of the most extensive pre-licensing requirements in the country:
Life, Accident & Health (combined)
40 hours of pre-licensing education. This is significantly more than most states and reflects New York's rigorous licensing standards. The course covers life insurance, annuities, health insurance, and New York Insurance Law.
Life-Only or Accident & Health Only
20 hours of pre-licensing education for each individual line.
Courses are available online or in-person from DFS-approved education providers. Online self-paced courses typically cost between $140 and $400 depending on the provider and included study materials. You must pass a final course exam with a score of 70% or higher to receive your certificate of completion.
After completing the course, your education provider reports your completion to PSI electronically. Keep a copy of your certificate — you may need it for your license application.
Popular approved providers include Kaplan Financial Education, ExamFX, AD Banker, and XCEL Solutions. Compare prices and included study materials when choosing a provider.
Exam Options
The New York insurance licensing exam is administered by PSI. You have three exam options depending on which license you want:
| Exam | Questions | Time |
|---|---|---|
| Life, Accident & Health (combined) | 150 | 2.5 hours |
| Life-Only | 75 | 90 minutes |
| Accident & Health Only | 75 | 90 minutes |
Which should you choose? Most people take the combined Life, Accident & Health exam. It qualifies you to sell all three lines of insurance with a single exam. Taking both individual exams separately means two exam sessions and two fees.
The exam includes unscored “pretest” questions mixed in with scored questions. These pretest questions are not identified, so treat every question as if it counts.
What the Exam Covers
The combined Life, Accident & Health exam tests your knowledge across the following areas:
Insurance regulation (~7%): Licensing requirements, state and federal regulation, the role of the DFS, producer responsibilities.
General insurance (~4%): Insurance concepts, types of insurers, agency law, contract fundamentals.
Life insurance (~16%): Term life, whole life, universal life, variable life, insurable interest, business uses of life insurance, policy provisions, beneficiary designations, settlement options, group life insurance, credit life insurance.
Annuities: Fixed and variable annuities, immediate vs. deferred, payout options, suitability requirements, disclosure requirements, senior consumer protections.
Accident & health insurance: Individual and group health policies, disability income, long-term care, HMOs, PPOs, POS plans, deductibles, copayments, HIPAA, the Affordable Care Act.
New York Insurance Law: State-specific regulations, Article 21 of the Insurance Law, unfair trade practices, policy delivery requirements, free-look periods, replacement regulations, and producer responsibilities under NY law.
Ethics: Ethical obligations of producers, sales practices, issuance and policy delivery requirements, professional conduct standards.
New York Insurance Law is heavily tested. The state-specific questions are often the most challenging part of the exam and are the primary reason candidates fail. Generic national study materials are not sufficient — you need NY-specific preparation.
Scheduling Your Exam with PSI
After completing your pre-licensing education, you can schedule your exam through PSI's online portal. You'll need to create a PSI account if you don't already have one.
When scheduling, you'll select:
The specific exam you want to take (combined, Life-Only, or A&H Only).
Whether you want to test in-person at a PSI testing center or remotely via PSI Bridge (online proctoring).
Your preferred date and time. You must schedule at least 2 days in advance.
You can reschedule or cancel your exam appointment up to 48 hours before your scheduled date without penalty through your PSI account. Cancellations within 48 hours may forfeit your exam fee.
Exam Fees
New York has some of the most affordable exam fees in the country:
Exam fee: $33
This covers the full cost of the exam through PSI. It applies to each attempt — if you fail and want to retake the exam, you'll pay $33 again.
Total per attempt: $33. Payment is made when you schedule through PSI's website by credit or debit card.
Separately, you'll pay for your pre-licensing course (~$140–$400) and your license application fee ($80) after you pass the exam. Budget approximately $250–$520 total for the entire licensing process from start to finish, depending on which education provider you choose.
In-Person vs. Remote Testing
You have two options for taking the exam:
In-Person (PSI Testing Center)
Take the exam at a PSI testing center. New York has several locations throughout the state — New York City, Albany, Buffalo, Rochester, and Syracuse all have testing centers. You'll test on a computer under proctored conditions. Bring two valid forms of government-issued ID (one with photo).
Remote (PSI Bridge)
Take the exam from home or another private location using PSI Bridge online proctoring software. You'll need a computer with a webcam, microphone, and a stable internet connection. A live proctor monitors you via webcam throughout the exam. You must be alone in the room and your workspace must be completely clear.
The exam content, format, time limit, and fee are identical regardless of which option you choose. Remote testing is available during days, evenings, and weekends, offering more scheduling flexibility than in-person centers.
Exam Day
If testing in person: Arrive at the PSI testing center at least 30 minutes before your scheduled appointment. You'll need to present two valid forms of government-issued ID (one must include a photo). The name on your ID must exactly match the name on your exam registration. No phones, notes, calculators, watches, food, drink, or study materials are allowed in the testing room.
If testing remotely: Log into PSI Bridge about 15 minutes before your scheduled time. The proctor will verify your identity via webcam, ask you to show your room and workspace, and then launch your exam. Your phone must be out of reach and your desk must be completely clear — no objects allowed.
The exam is multiple-choice on a computer. You can flag questions to review and navigate back and forth between questions. At the end of the allotted time (or when you submit), your score is calculated instantly and you'll see your pass/fail result on screen.
Passing Score
The passing score for all New York insurance licensing exams is 70%. This is higher than many other states (California, for example, requires only 60%).
Combined Exam
105 of 150
You must answer at least 105 questions correctly to pass.
Life-Only
53 of 75
You must answer at least 53 questions correctly to pass.
A&H Only
53 of 75
You must answer at least 53 questions correctly to pass.
The 70% passing score combined with 40 hours of pre-licensing education makes New York one of the more rigorous states for insurance licensing. The exam includes nuanced NY Insurance Law questions and scenario-based questions that require careful reading. Plan to study thoroughly.
If You Pass
When you pass the exam, you'll see your result on screen immediately along with a performance summary. PSI reports your passing score to the DFS electronically.
Your next step is to apply for your license through NIPR (National Insurance Producer Registry) or directly through the DFS.
You must apply within 2 years of passing the exam. If you wait longer than 2 years, your exam results expire and you may need to retake the pre-licensing course and exam.
The license application fee is $80 for a full-term license (plus a $5.60 NIPR transaction fee if applying through NIPR). If your initial license period is less than 12 months, the fee is $40.
If You Fail
If you don't pass, you'll see your score on screen along with a diagnostic report that breaks down your performance by topic area. This report is extremely valuable — it tells you exactly which sections you need to study before retaking the exam.
New York's retake policy is straightforward:
Waiting period
You must wait at least 24 hours between exam attempts. You can reschedule as soon as PSI has availability after the 24-hour waiting period.
Number of attempts
There is no limit on the number of retake attempts. You can take the exam as many times as needed to pass.
Retake fee
Each retake costs $33 — the same as the initial attempt.
Use your diagnostic report to focus your studying on weak areas. The relatively low retake fee and unlimited attempts mean there's no penalty for taking additional time to prepare between attempts.
Applying for Your License
Once you've passed the exam, you're ready to apply for your license. The primary method is through NIPR:
1. Create a NIPR account
Go to nipr.com and register for an account if you don't have one.
2. Submit your application
Fill out the license application, which asks for personal information, your exam results (usually auto-populated), and background questions about any criminal or regulatory history.
3. Pay the license fee
The initial license fee is $80 (plus $5.60 NIPR transaction fee).
4. Wait for processing
The DFS reviews your application. If everything is in order, your license is typically issued within a few business days. You can check your license status through NIPR.
Since New York does not require fingerprinting for Life, Accident & Health licenses, the application process is faster than in many other states. There's no background check processing delay beyond the standard DFS review.
License Types
New York insurance producer licenses are categorized by type and line of authority. The main license types relevant to this guide are:
Life Insurance Agent: Authorized to sell life insurance and annuities on behalf of an insurance company.
Accident & Health Insurance Agent: Authorized to sell health, disability, long-term care, and related products on behalf of an insurance company.
Life, Accident & Health Agent: Authorized to sell all of the above. This is the most common license type and is what you get when you pass the combined exam.
Insurance Broker: Represents the insured (not the insurance company). Requires the same exam but a separate broker license application. Brokers must maintain a separate office and meet additional requirements.
If you plan to sell variable products (variable life insurance or variable annuities), you'll also need FINRA securities licenses (Series 6 or Series 7) in addition to your state insurance license.
Continuing Education
To keep your license active, you must complete 15 hours of continuing education (CE) every 2 years before your license renewal date. Of those 15 hours:
At least 1 hour must cover Insurance Law.
At least 1 hour must cover Ethics and Professionalism.
At least 1 hour must cover Diversity, Inclusion, and Elimination of Bias.
The remaining 12 hours can cover any approved insurance topics relevant to your lines of authority.
CE is not required until your license has been in effect for more than 2 years. Excess hours do not carry over to the next two-year term.
License renewal is every 2 years, due by the last day of your birth month. The renewal fee is $80. If you fail to complete CE or renew on time, your license will lapse. You can reinstate a lapsed license by completing CE and paying any back fees, but it's much easier to stay current.
Insurer Appointments
Having a license is necessary but not sufficient to sell insurance. You also need to be appointed by at least one insurance company. An appointment is the formal authorization from an insurer that allows you to represent their products.
Appointments are initiated by the insurance company, not by you. When you join an agency or sign a contract with a carrier, the insurer files an appointment notice with the DFS on your behalf.
You can be appointed by multiple insurance companies simultaneously. Many producers are appointed with several carriers to offer a wider range of products to their clients.
Study Strategy
Given the 70% passing score and 40-hour pre-licensing requirement, most successful candidates spend 60 to 100 hours studying over a period of 3 to 5 weeks (including the pre-licensing course). Here's a proven approach:
1. Complete your pre-licensing course actively
Don't rush through the 40 hours just to check a box. The pre-licensing course covers all the foundational material you'll be tested on. Take detailed notes, especially on New York-specific rules and Insurance Law.
2. Focus on New York Insurance Law
This is where most candidates lose points. Know the key provisions of Article 21, unfair trade practices, free-look periods, grace periods, policy replacement rules, and the Superintendent's authority.
3. Use practice exams to identify weak areas
Take a full-length practice exam early in your studying to establish a baseline. Then focus your study time on the topics where you scored lowest. Repeat until you're consistently scoring above 80% on practice tests.
4. Review the morning of the exam
Do a quick review of your notes and key figures (policy time limits, specific NY Insurance Law provisions) the morning of your exam. Don't try to cram new material — just reinforce what you already know.
Practice Tests
Taking practice tests is the single most effective way to prepare. They help you get comfortable with the question format, identify knowledge gaps, and build confidence before the real exam.
Practice exams should cover all tested topics including life insurance, health insurance, annuities, and New York Insurance Law. Look for questions written in the same multiple-choice format as the actual PSI exam.
A good benchmark: if you can consistently score 80% or higher on practice tests, you're likely ready for the real exam. The actual passing score is 70%, so aiming for 80% gives you a comfortable margin.
Common Mistakes
These are the most common reasons candidates fail the New York insurance exam:
Underestimating New York Insurance Law. Many candidates study general insurance concepts well but neglect the state-specific material. NY Insurance Law questions are specific and detailed — you need to know exact time periods, specific rules, and regulatory procedures unique to New York.
Relying only on the pre-licensing course. The 40-hour pre-licensing course provides a strong foundation, but it is not sufficient exam prep on its own. You need additional study and practice tests beyond the course.
Not reading questions carefully. The exam includes “all of the following EXCEPT” and “which of the following is NOT” questions. Misreading these is a common and avoidable mistake.
Confusing agent and broker roles. New York distinguishes between agents and brokers more sharply than most states. Know who each represents, their fiduciary duties, and the regulatory differences.
Poor time management. With 150 questions in 2.5 hours on the combined exam, you have about 60 seconds per question. Don't spend too long on any single question — flag it and come back.
Quick Reference
| Minimum age | 18 years old |
| Pre-licensing education | 40 hours (combined); 20 hours (single line) |
| Course exam passing score | 70% |
| Combined exam | 150 questions, 2.5 hours |
| Life-Only exam | 75 questions, 90 minutes |
| A&H Only exam | 75 questions, 90 minutes |
| Passing score | 70% |
| Exam fee | $33 per attempt |
| Retake waiting period | 24 hours |
| Retake attempts | Unlimited |
| Fingerprinting | Not required |
| Exam results valid | 2 years |
| License application fee | $80 (+ $5.60 NIPR fee) |
| License application | NIPR or DFS directly |
| Continuing education | 15 hours every 2 years |
| CE requirements | 1 hr Law, 1 hr Ethics, 1 hr Diversity |
| Renewal fee | $80 every 2 years |
| Renewal due | Last day of birth month |
| Exam administrator | PSI |
| Testing options | In-person or remote (PSI Bridge) |
| Regulatory body | NY Dept. of Financial Services (DFS) |