AFAIK both Yes and True are constants in VBA. They both equal -1.
If you place quotes around True or False then, VBA will interpret the literal text, not the constant.
Having said that, I always use -1 for Yes and 0 for No in VBA. I use True and False in SQL.
Code:
If Me.chkPreInsp = True Then
Me.lblStud.Visible = 0
Else
Me.lblStud.Visible = -1
End If
Notice that Else is not followed with a colon in the above example. You would use a colon to indicate you are going to continue your code on the same line.
If Me.chkPreInsp = True Then Me.lblStud.Visible = 0 Else: Me.lblStud.Visible = -1