  We report a study of the decay $D^0 \rightarrow \bar{K}^0\pi^-e^+\nu_{e}$
based on a sample of $2.93~\mathrm{fb}^{-1}$ $e^+e^-$ annihilation data
collected at the center-of-mass energy of 3.773~GeV with the BESIII detector at
the BEPCII collider. The total branching fraction is determined to be
$\mathcal{B}(D^0\rightarrow \bar{K}^0\pi^-e^+\nu_{e})=(1.434\pm0.029({\rm
stat.})\pm0.032({\rm syst.}))\%$, which is the most precise to date. According
to a detailed analysis of the involved dynamics, we find this decay is
dominated with the $K^{*}(892)^-$ contribution and present an improved
measurement of its branching fraction to be $\mathcal{B}(D^0\rightarrow
K^{*}(892)^-e^+\nu_e)=(2.033\pm0.046({\rm stat.})\pm0.047({\rm syst.}))\%$. We
further access their hadronic form-factor ratios for the first time as
$r_{V}=V(0)/A_1(0)=1.46\pm0.07({\rm stat.})\pm0.02({\rm syst.})$ and
$r_{2}=A_2(0)/A_1(0)=0.67\pm0.06({\rm stat.})\pm0.01({\rm syst.})$. In
addition, we observe a significant $\bar{K}^0\pi^-$ $S$-wave component
accounting for $(5.51\pm0.97({\rm stat.})\pm0.62({\rm syst.}))\%$ of the total
decay rate.
