L&HNew Yorkmedium
Under Reg 187, before recommending an annuity to a New York consumer, the producer must collect 'suitability information.' Which of the following is NOT among the suitability information categories Reg 187 enumerates?
The consumer's credit score and FICO bureau report history
BAge, annual income, and financial resources
CFinancial experience, financial objectives, and intended use of the annuity
DLiquidity needs, liquid net worth, and tax status
Why this is the answer
Reg 187 defines 'suitability information' in 11 NYCRR § 224.3(g) as a list including age, annual income, financial situation and needs, financial experience, financial objectives, intended use, time horizon, existing assets, liquidity needs, liquid net worth, risk tolerance, and tax status. Credit score / FICO data is not listed and is not a Reg 187 suitability factor — producers should not condition recommendations on credit information under Reg 187. Per 11 NYCRR § 224.3(g).
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