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NY Life, Accident, and Health Insurance
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Agent/Broker Exam Series 17-55| 200
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QUESTIONS| GRADED A ne
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Process 2103 (d-i) - answer1. The Superintendent may issue a license to any person, firm or
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corporation who has complied with the requirements of the Insurance Code, authorizing the
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licensee to act as agent of any authorized insurer. Every individual applicant for a license under
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this section and every proposed sub-licensee must be 18 years of age or older at the time of
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issuance of such license. The person must submit to and pass a written examination required by
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the Superintendent.
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Producer Definition (2101(k)) - answerAn insurance producer means an insurance agent, insurance
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broker, reinsurance intermediary, excess lines broker, or any other person required to be licensed
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under the insurance laws of this state to sell, solicit or negotiate insurance.
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Who Should be Licensed (2101(k)(1)) - answer1. The term "insurance producer" does not include:
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An officer, director or employee of a licensed insurer, fraternal benefit society or health
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maintenance organization or of a licensed insurance producer, provided that the officer, director
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or employee does not receive any commission on policies written or sold to insure risks residing,
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located or to be performed in this state and:
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(a) the officer, director or employee's activities are executive, administrative, managerial, clerical
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or a combination of these, and are only indirectly related to the sale, solicitation or negotiation of
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insurance;
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(b) the officer, director or employee's function relates to underwriting, loss control, Inspection or
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the processing, adjusting, investigating or settling of a claim on a contract of Insurance; or (c) the
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officer, director or employee is acting in the capacity of a special agent or agency supervisor
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assisting licensed insurance producers where the person's activities are limited to providing
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technical advice and assistance to licensed insurance producers and do not include the sale,
solicitation or negotiation of insurance.
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Home State (2101(l)) - answerHome state means the District of Columbia or any state or territory
of the United States in which an insurance producer maintains his, her or its principal place of
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residence or principal place of business and is licensed to act as an insurance producer.
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Negotiate (2101(m)) - answerNegotiate or negotiation means the act of conferring directly with or
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offering advice directly to a purchaser or prospective purchaser of a particular contract of
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insurance concerning any of the substantive benefits, terms or conditions of the contract,
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provided that the person engaged in that act either sells insurance or obtains insurance from
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licensed insurers, fraternal benefit societies or health maintenance organizations for purchasers.
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Sell (2101(n)) - answerSell or sale means to exchange a contract of insurance by any means, for
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money or its equivalent, on behalf of a licensed insurer, fraternal benefit society or health
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maintenance organization.
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Solicit (2101(o)) - - answerSolicit or solicitation means attempting to sell insurance or asking or
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urging a person to apply for a particular kind of insurance from a particular licensed insurer,
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fraternal benefit society or health maintenance organization.
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Agent 2101(a) - answerIn this section, insurance agent means any authorized or acknowledged
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agent of an insurer, fraternal benefit society or health maintenance organization issued a
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certificate of authority pursuant to the public health law, and any sub-agent or other
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representative of such an agent, who acts as such in the solicitation of, negotiation for, or sale of,
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an insurance, health maintenance organization or annuity contract, other than as a licensed
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insurance broker.
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Agent 2101(k) - answerinsurance producer means an insurance agent, insurance broker,
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reinsurance intermediary, excess lines broker, or any other person required to be licensed under
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the insurance laws of this state to sell, solicit or negotiate insurance.
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The applicant must be at least 18 years of age at the time of license issuance.
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An examination is required for each applicant, except where noted for applicants with a change in
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residency moving to New York (see code 2103 below).
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Brokers 2101(c) - answera licensed insurance representative who does not represent a specific
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insurance company, but places business among various companies. Legally, the broker is usually
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regarded as a representative of the insured rather than the insuring company.
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Brokers 2101(h) - answerany licensed attorney at law of this state.
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Consultants (2107) - answerThe Superintendent may issue an insurance consultant's license to any
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person, firm, association or corporation who or which has complied with the requirements of this
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chapter with respect to either: life insurance, meaning all of those kinds of insurance authorized.
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Any such license issued to a firm or association shall authorize only the members of such firm or
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association named in such license as sub-licensees to act individually as consultants there under,
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and any such license issued to a corporation shall authorize only the officers and directors thereof
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named in such license as sub-licensees to act individually as consultants there under.
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Adjuster 2101(g) - answerThe Superintendent may, in his discretion require an applicant for a
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license under this section to present evidence, in such form as he prescribes, that such applicant
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has been employed, for a period which he deems reasonable, by an insurer, an independent
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adjuster or a public adjuster, in the performance of duties which in his opinion would provide the
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applicant with a satisfactory preliminary training for the duties and responsibilities which would
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evolve upon him as a licensee under this section. The term independent adjuster means any
person, firm, association or corporation who for money, commission or any other thing of value,
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acts in this state on behalf of an insurer in the work of investigating and adjusting claims arising
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under insurance contracts issued by such insurer and who performs such duties required by such
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insurer as are incidental to such claims and also includes any person who for compensation or
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anything of value investigates and adjusts claims on behalf of any independent adjuster.
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Adjuster 2108 - answerAdjusters will be licensed as either independent adjusters, or as public
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adjusters. The Superintendent may prescribe the types of independent adjusters' licenses
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according to the kind or kinds of insurance claims which the licensee is to be authorized to
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investigate and adjust. No adjuster may act on behalf of an insurer unless licensed as an
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independent adjuster, and no adjuster may act on behalf of an insured unless licensed as a public
adjuster. A public adjuster works on behalf of the insured for a fee.
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Nonresident 2101(d) - answerIn this section, non-resident insurance agent means an individual
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who is a non-resident of this state and who is licensed or authorized to act as an insurance agent
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in the state in which he resides, or in which he or the firm or association of which he is a member
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or employee, or the corporation, of which he is an officer, director, or employee maintains an
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office as an insurance agent.
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Nonresident 2101(e) - answerIn this section, "non-resident insurance broker", means an individual
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who is a non-resident of this state and who is licensed or authorized to act as an insurance broker
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in the state in which he resides, or in which he, or the firm or association of which he is a member
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or employee, or the corporation, of which he is an officer, director or employee maintains an office
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NY Life, Accident, and Health Insurance
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Agent/Broker Exam Series 17-55| 200
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QUESTIONS| GRADED A ne
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Sp
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la
tz
sh
Sp
ne
la
tz
sh
Sp
Process 2103 (d-i) - answer1. The Superintendent may issue a license to any person, firm or
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corporation who has complied with the requirements of the Insurance Code, authorizing the
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licensee to act as agent of any authorized insurer. Every individual applicant for a license under
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this section and every proposed sub-licensee must be 18 years of age or older at the time of
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issuance of such license. The person must submit to and pass a written examination required by
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the Superintendent.
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Sp
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Producer Definition (2101(k)) - answerAn insurance producer means an insurance agent, insurance
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broker, reinsurance intermediary, excess lines broker, or any other person required to be licensed
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under the insurance laws of this state to sell, solicit or negotiate insurance.
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Who Should be Licensed (2101(k)(1)) - answer1. The term "insurance producer" does not include:
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An officer, director or employee of a licensed insurer, fraternal benefit society or health
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maintenance organization or of a licensed insurance producer, provided that the officer, director
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or employee does not receive any commission on policies written or sold to insure risks residing,
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located or to be performed in this state and:
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(a) the officer, director or employee's activities are executive, administrative, managerial, clerical
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or a combination of these, and are only indirectly related to the sale, solicitation or negotiation of
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insurance;
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(b) the officer, director or employee's function relates to underwriting, loss control, Inspection or
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the processing, adjusting, investigating or settling of a claim on a contract of Insurance; or (c) the
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officer, director or employee is acting in the capacity of a special agent or agency supervisor
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assisting licensed insurance producers where the person's activities are limited to providing
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technical advice and assistance to licensed insurance producers and do not include the sale,
solicitation or negotiation of insurance.
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Sp
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Sp
, ne
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Home State (2101(l)) - answerHome state means the District of Columbia or any state or territory
of the United States in which an insurance producer maintains his, her or its principal place of
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residence or principal place of business and is licensed to act as an insurance producer.
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Negotiate (2101(m)) - answerNegotiate or negotiation means the act of conferring directly with or
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offering advice directly to a purchaser or prospective purchaser of a particular contract of
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insurance concerning any of the substantive benefits, terms or conditions of the contract,
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provided that the person engaged in that act either sells insurance or obtains insurance from
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licensed insurers, fraternal benefit societies or health maintenance organizations for purchasers.
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Sell (2101(n)) - answerSell or sale means to exchange a contract of insurance by any means, for
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money or its equivalent, on behalf of a licensed insurer, fraternal benefit society or health
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maintenance organization.
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Solicit (2101(o)) - - answerSolicit or solicitation means attempting to sell insurance or asking or
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urging a person to apply for a particular kind of insurance from a particular licensed insurer,
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fraternal benefit society or health maintenance organization.
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Agent 2101(a) - answerIn this section, insurance agent means any authorized or acknowledged
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agent of an insurer, fraternal benefit society or health maintenance organization issued a
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certificate of authority pursuant to the public health law, and any sub-agent or other
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representative of such an agent, who acts as such in the solicitation of, negotiation for, or sale of,
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an insurance, health maintenance organization or annuity contract, other than as a licensed
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insurance broker.
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sh
Sp
Agent 2101(k) - answerinsurance producer means an insurance agent, insurance broker,
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reinsurance intermediary, excess lines broker, or any other person required to be licensed under
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the insurance laws of this state to sell, solicit or negotiate insurance.
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The applicant must be at least 18 years of age at the time of license issuance.
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An examination is required for each applicant, except where noted for applicants with a change in
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residency moving to New York (see code 2103 below).
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Brokers 2101(c) - answera licensed insurance representative who does not represent a specific
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insurance company, but places business among various companies. Legally, the broker is usually
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regarded as a representative of the insured rather than the insuring company.
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Brokers 2101(h) - answerany licensed attorney at law of this state.
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Consultants (2107) - answerThe Superintendent may issue an insurance consultant's license to any
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person, firm, association or corporation who or which has complied with the requirements of this
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chapter with respect to either: life insurance, meaning all of those kinds of insurance authorized.
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Any such license issued to a firm or association shall authorize only the members of such firm or
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association named in such license as sub-licensees to act individually as consultants there under,
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and any such license issued to a corporation shall authorize only the officers and directors thereof
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named in such license as sub-licensees to act individually as consultants there under.
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Adjuster 2101(g) - answerThe Superintendent may, in his discretion require an applicant for a
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license under this section to present evidence, in such form as he prescribes, that such applicant
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has been employed, for a period which he deems reasonable, by an insurer, an independent
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adjuster or a public adjuster, in the performance of duties which in his opinion would provide the
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applicant with a satisfactory preliminary training for the duties and responsibilities which would
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evolve upon him as a licensee under this section. The term independent adjuster means any
person, firm, association or corporation who for money, commission or any other thing of value,
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acts in this state on behalf of an insurer in the work of investigating and adjusting claims arising
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under insurance contracts issued by such insurer and who performs such duties required by such
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insurer as are incidental to such claims and also includes any person who for compensation or
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anything of value investigates and adjusts claims on behalf of any independent adjuster.
tz
sh
Sp
ne
Adjuster 2108 - answerAdjusters will be licensed as either independent adjusters, or as public
la
tz
adjusters. The Superintendent may prescribe the types of independent adjusters' licenses
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Sp
according to the kind or kinds of insurance claims which the licensee is to be authorized to
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investigate and adjust. No adjuster may act on behalf of an insurer unless licensed as an
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independent adjuster, and no adjuster may act on behalf of an insured unless licensed as a public
adjuster. A public adjuster works on behalf of the insured for a fee.
tz
sh
Sp
ne
la
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Nonresident 2101(d) - answerIn this section, non-resident insurance agent means an individual
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who is a non-resident of this state and who is licensed or authorized to act as an insurance agent
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in the state in which he resides, or in which he or the firm or association of which he is a member
la
or employee, or the corporation, of which he is an officer, director, or employee maintains an
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office as an insurance agent.
sh
Sp
ne
la
tz
Nonresident 2101(e) - answerIn this section, "non-resident insurance broker", means an individual
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who is a non-resident of this state and who is licensed or authorized to act as an insurance broker
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in the state in which he resides, or in which he, or the firm or association of which he is a member
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or employee, or the corporation, of which he is an officer, director or employee maintains an office
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