The bankruptcies, liens, garnishments supervisory program

Agent Statement will indicate whether the application was taken, or the policy was to be delivered, by mail.

Help the agent understand the underlying issue of his/her conduct and thus prevent recurrence.

Replacement-related violations: 24
Blank or partially completed signed forms: 17
Misrepresentation: 10
Non-disclosure of a brokering OBA: 9
Others with 5 or more include failure to disclose underwriting information, agent has become unsupervisable (has disappeared),
unapproved advertising/sales material, and file issues.

Agency Standards Specialist

Portal Contact System

Possible answers: (1) Was any of the business controlled? (2) What was the agent's total calendar year FYC? (3) is the agent a long-term, high-level producer? (4) Why did the business reverse - declined-risk, declined-requirements, other? (5) Has this client previously applied for and not taken business?

Possible answers: (1) Advise MP so that he/she may reconsider having this agent as a guest speaker in the near future; (2) Discuss with the established agent; (3) Communicate the inaccuracy of the direction to the attendees; (4) Consider communicating more broadly, depending on conclusion about others to whom the agent may also have made the suggestion; (5) Consider a disciplinary referral.

The 3 possible root causes are (1) a file attached to the SPA record is corrupt; (2) a file attached to the SPA record is locked; or (3) a file attached to the SPA record is not a PDF.

Fact. Please do not try this now, just take my word for it. Why would I make that up?

Sponsored Marketing Agreements. SMAs present an avenue through which TAS agents may sell certain products not issued by NYL and remain in compliance with their TAS agreement.

2, 3, and 4

(1) Have they updated their U4? (2) Have they updated their resident/non-resident licenses, if applicable; (3) Any agents in the GO that are currently on enhanced supervision; (4) recent or pending disciplinary issues; (5) Issues or gaps from the last OSJ or CCD review; (6) local restaurants or attractions (why not?)

Because you were unable to review files unannounced, the re-try will also need to be unannounced. If, though, the agent had staff and you were able to review files, the Q&A with the agent may be conducted on an announced basis.

Fact. Many will connect both Drew Robertson and Samantha Chinn with their Standards roles in Northeast. Charmaine Goodman preceded Ron Bowers as lead ZASO in West Central. Pacific COO Sharon McKenney has also been part of the Standards team in her career.

Investor Owned Life Insurance and Stranger Owned Life Insurance.
Characteristics include: (1) intention to transfer the policy to a 3rd party is not disclosed in the application; (2) income/net worth information may be inflated; (3) health information may be hidden or under-disclosed; (4) may potentially put the life of the insured in jeopardy, depending on who the Investor or the Stranger are.

Some possible answers: (1) Meet a FINRA requirement to adequately supervise an RR’s communications with the public; (2) Possibly become aware of, and address serious issues before they become too large; (3) Provide feedback to agents/RRs on a timely basis regarding compliance with industry and Company rules; (4) Better understand the scope of an issue arising via e-mail or otherwise.

(1) Immediately advise my MP and ZASO that the agent has resigned, proposing a future date. (2) Discuss whether to suspend the agent and his/her system access immediately or terminate him/her; (3) Consider directing the agent not to remove files until NYL has had the opportunity to copy them; (4) Advise the appropriate Service Team member to consult with you when he or she is to process form 1541.

Yes, we've got potential concerns: (1) the telemarketer almost certainly doesn't have access to NYL's DNC list and (2) some telemarketing companies use robodialers, which are prohibited.

Fiction. Every word of it.

None of the above. P stands for Part-time and Professional; T for Training and Temporary, E for Experienced and Expense, and A for Agent and Allowance. Amazingly, none of the letters stands for the same word across the board.

(1) True. Timing will be the critical factor.
(2) False. If candidate is SD, he or she is ineligible for hire.
(3) True. Omnibus Crime Act = certain felony convictions, EVER = ineligible to obtain an insurance license absent a 1033 waiver.
(4) True. A negative conclusion regarding coverage under the company's fidelity bond would make candidate ineligible.
(5) True. In a growing number of states, a multi-step analysis and specific notifications are required if a criminal conviction is to be used to make an adverse hiring decision. Some states in fact outlaw the use of certain charges and/or convictions in a hiring analysis.

(1) True
(2) False
(3) True
(4) True
(5) True
(6) True

(1) Yes. Discuss at the SII: What appears first? Is it an approved OBA operating consistently with what NYL has on file? (2) Yes. Depending on how soon I plan to be there, I may call now or cover on site. No need to check, this is NOT on SMRU's list of approved certifications; (3) Yes. Contacting the agent in advance is OK, to ensure I go to the right place, but I may not indicate to him/her that I'm calling because I plan to visit tomorrow.

Fact. The case involved a $5M NYL policy, a larger policy at another firm, and an elderly woman being pushed down a flight of stairs.

Automated Workflow

The abbreviation AWF is used in both the Contracting and Servicing worlds at NYL. What does AWF stand for?

(1) Whether either of the 2 years is an aberration for the agent;
(2) Whether or not there is a large credit/reversal that straddled year-end;
(3) whether the agent has become approved for one or more additional OBAs;
(4) Whether the agent has experienced health issues impacting his or her ability to produce;
(5) Whether you're also aware of outflows or replacement activity away from NYL

Name 2 relevant factors to consider when addressing a production decrease flag.

(1) Discuss the finding with the agent to assess the scope of the issue;
(2) Request from the agent any and all business-related e-mails between him and prospects/clients;
(3) Direct the agent to cease and desist from using non-approved e-mail for business;
(4) Consider a disciplinary referral.

While doing a file review on an SII, I notice that the e-mail address on an illustration is [email protected]. What are 3 appropriate steps to take in response?

Possible answers:
(1) An agent’s continued failure to respond correctly to feedback creates an appearance, accurate or not,
of his or her respect for, and responsiveness to, supervision.
(2) Timely resolution will best ensure that flags do not continue to arise,
saving time and energy for the reviewer, the agent, and GO management.

Why is timely follow-up and resolution of E-mail monitoring ‘multiple offenders' important?

Mark Pfaff, from "Council 2014 Tour"

While movies such as "Mo' Money", "Other People's Money,"Mad Money" and "The Color of Money" may each have had its detractors, the catchphrase "Chunks of Money" from this NYL Executive received universal acclaim. Who is he?

Document Management System. Use of DMS prior to the onsite visit may enable the reviewer to pre-review application and other relevant documents and streamline the on-site file review process.

DMS at New York Life stands for what, and how can it facilitate increased efficiency in an SII?

If and only if he or she is the client.

You are contaced by HOAS to follow up with an agent whose FT e-mail address was provided as the client's on an E-Application. In what circumstances may an agent use his/her e-mail address as the client's?

A new OBA that the agent may not think of as an OBA or that she simply doesn't think of,
and/or changes in an existing OBA that could be material.

I'm assisting a member of the GO management team who is conducting his/her first SII. When we get to the OBA question, the manager shares the agent's ECPS page with her, asks if it looks correct, and upon the agent's confirmation, begins to ask the next question. Name 2 things that this approach could fail to detect.

FinCEN defines suspicious activity as any conducted or attempted transaction or pattern of transactions that you know, suspect, or have reason to suspect meets any of the following conditions: (1) Involves money from criminal activity; (2) Is designed to evade Bank Secrecy Act requirements, whether through structuring or other means; (3) Appears to serve no business or other legal purpose, and for which available facts provide no reasonable explanation; (4) Involves use of a financial services business to facilitate criminal activity. The AML Unit in CCD is at the center of NYL's efforts to comply. (Remember: it is illegal to tell anyone involved in a transaction that an SAR is to be filed.)

What is considered "suspicious activity" under FinCen (Financial Crimes Enforcement Network), requiring reporting via a Suspicious Activity Report (SAR)? And who is our go-to for suspicious activities concerns at NYL?

Fiction.

Caveat: answer is accurate as of Friday, 9/2/16.

Fact or Fiction: While Sandra's husband Tony is the golf pro in the family, Sandra herself has accomplished a rare golf feat, a hole in one, and not in miniature golf!

CRM stands for Customer Relationship Management system, and NYL has never required one,
but will have it as a requirement beginning in 2017. Be sure to listen to the recording of this week's Town Hall meeting for the latest.

What does the acronym CRM stand for, and what has NYL's historical position been in terms of requiring one?

(1) Expand the volume of cases during the review;
(2) Review additional cases of the agent's in DMS;
(3) Note whether the form in question is an at-application form or a subsequent/ service form;
(4) Ask the agent and/or his/her staff to explain;
(5) Review the agent's compliance history;
(6) Contact the customer.

I note what appears to be a signature discrepancy in a file I’m reviewing as part of an SII.
What steps might I take in order to help to come to a conclusion about next steps?
(Provide 3)

Possible answers:
(1) Was the policy approved/issued with the agent as beneficiary?
(2) What is the basis for the agent becoming beneficiary? Is it related to the his/her role as the client's agent?
(3) Is the client still alive?
(4) Does the client still have capacity?

During the SII, the agent advises you that he/she is the beneficiary of a policy on the life of an unrelated client. Name at least 2 factors (3 to impress your peers) that will impact the decision whether to approve or deny.

Some possible answers: (1) What their role in solicitation of new business may be going forward;
(2) New role as leader/manager establishing a tone for the workplace environment;
(3) Licensing requirements for FODs;
(4) Rules and carve-outs for triggering business;
(5) Expectations regarding the purchase and persistency of their own business.

An agent in my office has met the criteria to enter management as a Partner.
What are 3 things I can discuss with them to help minimize the possibility of problems?

Aly Raisman, Richard Raisman

This 2012 and 2016 US Olympian, winner of multiple gold medals, is the daughter of a NYL agent.
Name either the gymnast or her father.

Family Medical Leave Act

A TAS agent, unlike an established agent, may be eligible for a leave under FMLA. What is FMLA?

An "at risk" state is a state which requires an agent to be licensed to write its residents,
no matter where the solicitation takes place.

An application is rejected at the counter because the agent is not licensed in the relevant "at risk" state. What is an "at risk" state?

Possible answers: (1) Does the agent have another approved branch office, and is this it?
(2) Is the form letter approved?
(3) Can I determine what applications were secured this way, and do they properly reflect that they were secured by mail?
(4) Is the agent licensed in the state to which the letter were sent?

While conducting a file review for a detached RR, I note several form letters addressed to clients asking them to sign the enclosed documents and return them to the agent at an address different from the one we're currently meeting. It seems to be referring to applications. Name 2 of the issues on which I will need to come to resolution.

(1) Sonali Virendra
(2) Irwin Silber
(3) Natalie Lamarque
(4) Tom Heller

Name 3 of the following 4 NYL leaders: (1) Formerly a leader in John O'Gara's organization, this VP now leads Agency Field Development and Prospecting; (2) This VP and Actuary reports directly to Matt Grove and leads the Underwriting operation; (3) the newest Executive Officer in CCD, she oversees many of the divisions with which we interact, including AML, Field Review, Regulatory Reporting, and Market Surveillance; (4) this VP leads a significant subset of our Service Organization peers, including General Office Administration and CLRU.

Fact. 7 of the 12 current ZASOs (Fred, Chris, Dan, Susan, Zac, Laurel, and Michael) all have been ASCs.

Fact or Fiction: the majority of ZASOs were once ASCs.

(1) True
(2) True
(3) True
(4) True
(5) False

Which of the following are true about a TIR: (1) It may be a call in either direction between a client and NYL; (2) A client whose application is completed in a language other than English is more likely to have one required; (3) Some are random; (4) Cases written by agents on Enhanced Underwriting, but maybe not Enhanced Supervision, are more likely to require them; (5) Agents may assist clients in completing them.

(1) Accurate
(2) Inaccurate
(3) Accurate
(4) Inaccurate
(5) Inaccurate

Which statements about the Company's hiring guidelines are accurate? (1) Candidates with FINRA-reportable items generally require higher/multiple levels of review/approval; (2) Offices and recruiters each get a specific, fixed limit of higher category hires each year; (3) Candidates with items creating additional risk may be subject to additional steps/requirements; (4) Candidates may be hired and be subject to formal Enhanced Supervision; (5) Guidelines permit a FINRA-ineligible candidate to be hired as an agent.

POINTS: (1) SmartMatch's effectiveness is dependent on accurate, customer-specific information; (2) The appearance of a one-size-fits-all approach is problematic for both the agent/RR and NYLIFE; DISCUSSION ITEMS: (3) How the agent decides which funds to "typically recommend"; (4) Whether there are other "sweet spots" the agent has found in NYL policies and procedures worthy of discussion; (5) The possibility that customer contact may be initiated by the Company; (6) The seriousness of the issue and possible consequences.

You are conducting a file review during a SII for a new RR and notice that every client you look at has an almost identical Investor Profile, despite apparent differences in age, assets, net worth, and other factors. You raise this with the agent, who is impressed that you noticed it, but also proud of himself. “I found the sweet spot. If I complete it this way, I save my clients time and they have access to all the key funds that I typically recommend.” Name at least 3 points and/or discussion items you'll want to cover with the agent on this issue.

(1) Will not impact.
(2) Will not impact.
(3) Will impact.
(4) Will not impact.

My MP would like to give a prize to the top new org agent for the year, but has learned that it will cost more than $100.
Which of the following factors may impact the decision to allow or not allow it?
(1) Another GO got a volume discount when it purchased the same item, so we can use the price they got, even though we'll pay more;
(2) Securities product FYC will not be included in the evaluation; (3) The gift will be engraved with the recipients name and the NYL logo;
(4) The gift is a platter, which the MP reasons will depreciate when it is used at the banquet before being presented to the agent.

Double Indemnity.

What 1944 movie, often cited by Bob Rosh, tells the story of insurance salesman Walter Neff getting roped into a murderous scheme to collect both the face amount and an accidental death benefit from a life insurance policy?

Pacific: Christie Mueller, 2016
South Central: Jim Adkins, Jr., 2014
West Central: Sam Hebert, 2013
Northeast: Bill Mahoney, 2004
(Bill moved to South Central in 2006)

Naming the most recent 4 New York Life Council Presidents won't be enough for Final Jeopardy success. Here, you'll need to name the last Council President from each of the 4 Zones. Who would be on this imaginary Mount Rushmore?