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NY Series 17-55 Life, Accident, and Health Insurance
Agent-Broker Newest Exam Preparation With
Complete Questions And Correct Answers With
Rationales Already Graded A+Brand New Version!!
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
Explanation: New York Insurance Law §2103(d-i) requires every
individual applicant and proposed sub-licensee to be 18 years of age or
older at issuance.
2. An "insurance producer" is defined as a person required to be
licensed to:
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A) Only adjust claims
B) Sell, solicit, or negotiate insurance
C) Only underwrite risks
D) Only collect premiums
Correct Answer: B
Explanation: Under §2101(k), a producer includes 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
Explanation: §2101(k)(1) excludes officers, directors, or employees
performing only executive, administrative, underwriting, or claims
duties with no commission on New York risks.
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4. "Home state" for a producer means the jurisdiction where the
producer:
A) Was born
B) Maintains principal residence or principal place of business and is
licensed
C) Has the most clients
D) Earns the highest commissions
Correct Answer: B
Explanation: Home state is defined as the District of Columbia or any
state or territory in which an insurance producer maintains his or her
principal place of residence or principal place of business and is licensed
to act as an insurance producer.
5. Public adjusters act on behalf of:
A) The insurer
B) The insured (for a fee)
C) Only on workers' compensation claims
D) Only on life claims
Correct Answer: B
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Explanation: Under §2108, public adjusters represent the insured, not
the insurer, for a fee.
6. A non-resident agent or broker seeking a New York license without
examination may qualify under:
A) Reciprocity if home state grants same to NY residents
B) Paying a higher fee
C) Taking a reduced exam
D) Having 10 years of experience
Correct Answer: A
Explanation: New York grants licenses to non-residents on a reciprocal
basis if their home state grants the same privileges to New York
residents.
7. Which type of life insurance policy is best suited for paying off the
outstanding balance of a 30-year mortgage in the event of the insured's
death?
A) Whole life
B) Universal life
C) 30-year decreasing term
D) Variable life
NY Series 17-55 Life, Accident, and Health Insurance
Agent-Broker Newest Exam Preparation With
Complete Questions And Correct Answers With
Rationales Already Graded A+Brand New Version!!
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
Explanation: New York Insurance Law §2103(d-i) requires every
individual applicant and proposed sub-licensee to be 18 years of age or
older at issuance.
2. An "insurance producer" is defined as a person required to be
licensed to:
,2|Page
A) Only adjust claims
B) Sell, solicit, or negotiate insurance
C) Only underwrite risks
D) Only collect premiums
Correct Answer: B
Explanation: Under §2101(k), a producer includes 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
Explanation: §2101(k)(1) excludes officers, directors, or employees
performing only executive, administrative, underwriting, or claims
duties with no commission on New York risks.
,3|Page
4. "Home state" for a producer means the jurisdiction where the
producer:
A) Was born
B) Maintains principal residence or principal place of business and is
licensed
C) Has the most clients
D) Earns the highest commissions
Correct Answer: B
Explanation: Home state is defined as the District of Columbia or any
state or territory in which an insurance producer maintains his or her
principal place of residence or principal place of business and is licensed
to act as an insurance producer.
5. Public adjusters act on behalf of:
A) The insurer
B) The insured (for a fee)
C) Only on workers' compensation claims
D) Only on life claims
Correct Answer: B
, 4|Page
Explanation: Under §2108, public adjusters represent the insured, not
the insurer, for a fee.
6. A non-resident agent or broker seeking a New York license without
examination may qualify under:
A) Reciprocity if home state grants same to NY residents
B) Paying a higher fee
C) Taking a reduced exam
D) Having 10 years of experience
Correct Answer: A
Explanation: New York grants licenses to non-residents on a reciprocal
basis if their home state grants the same privileges to New York
residents.
7. Which type of life insurance policy is best suited for paying off the
outstanding balance of a 30-year mortgage in the event of the insured's
death?
A) Whole life
B) Universal life
C) 30-year decreasing term
D) Variable life
