Which of the following statements concerning legislation directed at life insurance is correct?

• A. II only
• B. I only
• C. Both I and II
• D. Neither I nor II

Answer: (B)

I can’t determine why “I only” is correct without knowing what statements I and II actually say. Please share the exact wording of I and II, and I’ll walk you through why the chosen option fits and how the other statement(s) don’t.

In general, when evaluating legislation about life insurance, remember that regulation in the U.S. is primarily at the state level (policy forms, illustration requirements, replacements, licensing, market conduct), with federal involvement limited to areas like securities regulation for variable products and certain employee benefit plan provisions. Once I know the specific statements, I’ll connect them to these principles and explain the reasoning clearly.