NY SERIES 1755 LIFE, ACCIDENT, AND HEALTH
INSURANCE AGENT/BROKER ACTUAL EXAM –
350 PRACTICE QUESTIONS
PART 1: NEW YORK INSURANCE REGULATION AND LAW (Questions 1–35)
1. The Superintendent may issue an insurance agent license to any person
who has complied with the requirements of the Insurance Law and is at least:
A) 16 years old
B) 18 years old
C) 21 years old
D) 25 years old
Correct Answer: B
Rationale: NY Insurance Law §2103(di) requires every individual applicant
and proposed sublicensee to be 18 years of age or older at issuance.
2. An "insurance producer" is defined as a person required to be licensed to:
A) Only adjust claims
B) Sell, solicit, or negotiate insurance
C) Only underwrite risks
D) Only collect premiums
,Correct Answer: B
Rationale: §2101(k) defines a producer as an agent, broker, reinsurance
intermediary, excess lines broker, or any other person required to be licensed
to sell, solicit, or negotiate insurance.
3. Which of the following is NOT included in the definition of "insurance
producer"?
A) Insurance agent
B) Insurance broker
C) Officer of an insurer whose activities are purely administrative and who
receives no commission on New York risks
D) Reinsurance intermediary
Correct Answer: C
Rationale: §2101(a) excludes officers whose activities are purely
administrative and who receive no commission from the definition of
"insurance producer".
4. A broker is legally regarded as a representative of:
A) The insurer
B) The insured
C) The Superintendent
,D) The adjuster
Correct Answer: B
Rationale: §2101(c) establishes that a broker represents the insured (the
client), not the insurer.
5. An insurance agent acts as:
A) Representative of the insured only
B) Authorized representative of an insurer in solicitation, negotiation, or sale
C) Independent adjuster
D) Consultant only
Correct Answer: B
Rationale: An agent is an authorized representative of an insurer.
6. Consultants are licensed to:
A) Sell insurance only
B) Give advice on life insurance or other specified lines
C) Adjust claims only
D) Underwrite only
, Correct Answer: B
Rationale: Consultants are licensed to give advice on life insurance or other
specified lines.
7. In New York, an insurance agent primarily represents:
A) The insured
B) The insurer
C) The Department of Financial Services
D) The underwriter
Correct Answer: B
Rationale: An insurance agent acts on behalf of the insurance company, not
the policyholder.
8. A producer acting as a "broker" in New York primarily represents:
A) The insurer
B) The insured
C) The Department of Financial Services
D) The reinsurer
Correct Answer: B
Rationale: In New York, a broker represents the insured (the client).
INSURANCE AGENT/BROKER ACTUAL EXAM –
350 PRACTICE QUESTIONS
PART 1: NEW YORK INSURANCE REGULATION AND LAW (Questions 1–35)
1. The Superintendent may issue an insurance agent license to any person
who has complied with the requirements of the Insurance Law and is at least:
A) 16 years old
B) 18 years old
C) 21 years old
D) 25 years old
Correct Answer: B
Rationale: NY Insurance Law §2103(di) requires every individual applicant
and proposed sublicensee to be 18 years of age or older at issuance.
2. An "insurance producer" is defined as a person required to be licensed to:
A) Only adjust claims
B) Sell, solicit, or negotiate insurance
C) Only underwrite risks
D) Only collect premiums
,Correct Answer: B
Rationale: §2101(k) defines a producer as an agent, broker, reinsurance
intermediary, excess lines broker, or any other person required to be licensed
to sell, solicit, or negotiate insurance.
3. Which of the following is NOT included in the definition of "insurance
producer"?
A) Insurance agent
B) Insurance broker
C) Officer of an insurer whose activities are purely administrative and who
receives no commission on New York risks
D) Reinsurance intermediary
Correct Answer: C
Rationale: §2101(a) excludes officers whose activities are purely
administrative and who receive no commission from the definition of
"insurance producer".
4. A broker is legally regarded as a representative of:
A) The insurer
B) The insured
C) The Superintendent
,D) The adjuster
Correct Answer: B
Rationale: §2101(c) establishes that a broker represents the insured (the
client), not the insurer.
5. An insurance agent acts as:
A) Representative of the insured only
B) Authorized representative of an insurer in solicitation, negotiation, or sale
C) Independent adjuster
D) Consultant only
Correct Answer: B
Rationale: An agent is an authorized representative of an insurer.
6. Consultants are licensed to:
A) Sell insurance only
B) Give advice on life insurance or other specified lines
C) Adjust claims only
D) Underwrite only
, Correct Answer: B
Rationale: Consultants are licensed to give advice on life insurance or other
specified lines.
7. In New York, an insurance agent primarily represents:
A) The insured
B) The insurer
C) The Department of Financial Services
D) The underwriter
Correct Answer: B
Rationale: An insurance agent acts on behalf of the insurance company, not
the policyholder.
8. A producer acting as a "broker" in New York primarily represents:
A) The insurer
B) The insured
C) The Department of Financial Services
D) The reinsurer
Correct Answer: B
Rationale: In New York, a broker represents the insured (the client).
