Insurance License NY Questions and
Answers 100% Solved
The Superintendent has the authority to take all of the following actions, except:
A
Investigate consumer complaints
B
Refer suspected criminal violations to law enforcement officials
C
Create insurance laws
D
,Create rules to implement and enforce insurance laws ✔✔ C
The Superintendent may refuse to issue, suspend, or revoke a license if the applicant:
A
Received 10% of net commissions over the past 9 months from controlled business B
Has credit card debt
C
Is paying child support
D
Has been or will be receiving any benefit or advantage, regardless of whether it is in violation of
insurance law ✔✔ A
The insurer's promise to pay a covered loss and the insured's payment of the first premium are
examples of:
A
Consideration
B
Acceptance
C
Legal Purpose
D
Offer ✔✔ A
An employee, whose duties are related to the maintenance of the residence premises, is
defined as which of the following under Section II of the Homeowners Policy?
A
Casual Employee
,B
Contract Employee
C
Maintenance Employee
D
Residence Employee ✔✔ D
Under PIP, first party benefits are defined as:
A
Benefits paid before third party benefits
B
No-fault benefits paid without regard to fault or negligence
C
At-fault benefits paid in accordance with fault or negligence
D
Benefits paid before secondary coverage ✔✔ B
Which DP form does not cover burglar damage?
A
Broad Form (DP-2)
, B
Special Form (DP-3)
C
Basic Form (DP-1)
D
None of the Dwelling Policies cover damage done by burglars ✔✔ A
Which of the following statements is false with respect to a consultant?
A
A consultant may be licensed to sell insurance, but only for the lines for which he/she is licensed
as a consultant
B
A person, firm, association, or corporation providing professional insurance advice to clients
may be licensed as a consultant
C
A general consultant license includes all lines of authority other than life, variable life, and
variable annuity products
D
A life consultant license includes life insurance, annuities, and accident and health insurance
✔✔ A
Which of the following statements is true regarding adjusters?
A
An independent adjuster acts on behalf of an insured
B
Answers 100% Solved
The Superintendent has the authority to take all of the following actions, except:
A
Investigate consumer complaints
B
Refer suspected criminal violations to law enforcement officials
C
Create insurance laws
D
,Create rules to implement and enforce insurance laws ✔✔ C
The Superintendent may refuse to issue, suspend, or revoke a license if the applicant:
A
Received 10% of net commissions over the past 9 months from controlled business B
Has credit card debt
C
Is paying child support
D
Has been or will be receiving any benefit or advantage, regardless of whether it is in violation of
insurance law ✔✔ A
The insurer's promise to pay a covered loss and the insured's payment of the first premium are
examples of:
A
Consideration
B
Acceptance
C
Legal Purpose
D
Offer ✔✔ A
An employee, whose duties are related to the maintenance of the residence premises, is
defined as which of the following under Section II of the Homeowners Policy?
A
Casual Employee
,B
Contract Employee
C
Maintenance Employee
D
Residence Employee ✔✔ D
Under PIP, first party benefits are defined as:
A
Benefits paid before third party benefits
B
No-fault benefits paid without regard to fault or negligence
C
At-fault benefits paid in accordance with fault or negligence
D
Benefits paid before secondary coverage ✔✔ B
Which DP form does not cover burglar damage?
A
Broad Form (DP-2)
, B
Special Form (DP-3)
C
Basic Form (DP-1)
D
None of the Dwelling Policies cover damage done by burglars ✔✔ A
Which of the following statements is false with respect to a consultant?
A
A consultant may be licensed to sell insurance, but only for the lines for which he/she is licensed
as a consultant
B
A person, firm, association, or corporation providing professional insurance advice to clients
may be licensed as a consultant
C
A general consultant license includes all lines of authority other than life, variable life, and
variable annuity products
D
A life consultant license includes life insurance, annuities, and accident and health insurance
✔✔ A
Which of the following statements is true regarding adjusters?
A
An independent adjuster acts on behalf of an insured
B
