New York Accident & Health
Insurance
Questions and Correct
Answers
Agent Licesne - Correct Answer: Noone can sell insurance without license but you
dont need to pass test if you are employees of licesed insurance agent wh do nt
solicit, licensed attorneys, actuaries or cpas who provid ino, regular salaried
implyees who devote little tie, an agent oof a graternal benefit society
- must be 18, pass 540 hr course
- pass state exam
- Application must be submiteed w in 2 years
- renewal every 2 years on birthday
Certificate of appointment - Correct Answer: if a license is granted to an
corporation, , only the officers and directors named on the license can act as
agents, but they can sub license agents. Every time a new agent comes on boad,
they need a certificate of appointment from the state
License Term for Agent - Correct Answer: 2 years; can be suspended or revoked by
superintendent, terminated by insurer, fails to file a renewal application, it can be
terminated;
Must be able to be furnished on request, the head agent must display in the office;
if no certificate of appointment is filed, the license is inactive
Consultant - Correct Answer: Allows a person with a license to charge a fee for
providing advice
- if given to an indivual, it experires every 2 yrs on the birthday
- if issued to a business entity, it expires on March 31st for life insurance in an odd
yyear and general insurance in an even year
- can only recieve a fee if there's a written contract with the person they are
providing advice
Adjuster License - Correct Answer: acts on behalf of th insurer to investigata and
sjust claims arising under insurance contracts issued by the insurer
New York Accident & Health Insurance Questions and Correct Answers
, Non Resident - Correct Answer: an individual who is a non resident of NY and who is
licensed or authorized to act as an insurance agent in the state in which he resides.
If a licenced non residnent moves to NY, he has 90 days to apply for his license w/o
taking exam
Temporary License - Correct Answer: Can be issued to spouse of deceased or next
of kim from a disability
Tremination of License - Correct Answer: Can be done by superintendent for:
-providing incorrect or misleading materially untreu info in licesne app
-violating any insurance laws
- stealing money
- having been convicted of a felony
- any dihonest practices
- Have a producer or life settlement license denied or revoked in any other state-
Forging
- Failing to comply with child support payments
To terminate a license, a superintendent must - Correct Answer: provide a written
notice to the licensee of a hearing before the license an be suspended. For a broker,
its not less than 10 days after notice is provided for the hearing. If there's an action
against the producer, he must notify the super within 30 days. You cant go into
another state and start practicing either
Appointment and Termination of Appointment - Correct Answer: All insureres myst
file a ciertificate of appointment in order to appoint insurance agents. Then you
have 15 days to appoint a producer from the date the agency contract is executed.
If you've been fired, you have 30 days to tell the super why you were fired and then
the super has 15 days to send the info back to you confirming it,
Change of Address time frame - Correct Answer: a licensee has 30 days to inform
dept of insurance
Reporting of Action - Correct Answer: must report to dept of insurance w in 30 days
of any administrative action
Continuing Ed - Correct Answer: must to 15 hrs every 2 years
Powers of the Superintendent - Correct Answer: he has the power to promote the
public welfare and administer and enforce all laws appointed by the governor
Not responsible for assessing punitive damages to thos who break insurance laws.
(this is the responsibility of the state legislative bodies
New York Accident & Health Insurance Questions and Correct Answers
Insurance
Questions and Correct
Answers
Agent Licesne - Correct Answer: Noone can sell insurance without license but you
dont need to pass test if you are employees of licesed insurance agent wh do nt
solicit, licensed attorneys, actuaries or cpas who provid ino, regular salaried
implyees who devote little tie, an agent oof a graternal benefit society
- must be 18, pass 540 hr course
- pass state exam
- Application must be submiteed w in 2 years
- renewal every 2 years on birthday
Certificate of appointment - Correct Answer: if a license is granted to an
corporation, , only the officers and directors named on the license can act as
agents, but they can sub license agents. Every time a new agent comes on boad,
they need a certificate of appointment from the state
License Term for Agent - Correct Answer: 2 years; can be suspended or revoked by
superintendent, terminated by insurer, fails to file a renewal application, it can be
terminated;
Must be able to be furnished on request, the head agent must display in the office;
if no certificate of appointment is filed, the license is inactive
Consultant - Correct Answer: Allows a person with a license to charge a fee for
providing advice
- if given to an indivual, it experires every 2 yrs on the birthday
- if issued to a business entity, it expires on March 31st for life insurance in an odd
yyear and general insurance in an even year
- can only recieve a fee if there's a written contract with the person they are
providing advice
Adjuster License - Correct Answer: acts on behalf of th insurer to investigata and
sjust claims arising under insurance contracts issued by the insurer
New York Accident & Health Insurance Questions and Correct Answers
, Non Resident - Correct Answer: an individual who is a non resident of NY and who is
licensed or authorized to act as an insurance agent in the state in which he resides.
If a licenced non residnent moves to NY, he has 90 days to apply for his license w/o
taking exam
Temporary License - Correct Answer: Can be issued to spouse of deceased or next
of kim from a disability
Tremination of License - Correct Answer: Can be done by superintendent for:
-providing incorrect or misleading materially untreu info in licesne app
-violating any insurance laws
- stealing money
- having been convicted of a felony
- any dihonest practices
- Have a producer or life settlement license denied or revoked in any other state-
Forging
- Failing to comply with child support payments
To terminate a license, a superintendent must - Correct Answer: provide a written
notice to the licensee of a hearing before the license an be suspended. For a broker,
its not less than 10 days after notice is provided for the hearing. If there's an action
against the producer, he must notify the super within 30 days. You cant go into
another state and start practicing either
Appointment and Termination of Appointment - Correct Answer: All insureres myst
file a ciertificate of appointment in order to appoint insurance agents. Then you
have 15 days to appoint a producer from the date the agency contract is executed.
If you've been fired, you have 30 days to tell the super why you were fired and then
the super has 15 days to send the info back to you confirming it,
Change of Address time frame - Correct Answer: a licensee has 30 days to inform
dept of insurance
Reporting of Action - Correct Answer: must report to dept of insurance w in 30 days
of any administrative action
Continuing Ed - Correct Answer: must to 15 hrs every 2 years
Powers of the Superintendent - Correct Answer: he has the power to promote the
public welfare and administer and enforce all laws appointed by the governor
Not responsible for assessing punitive damages to thos who break insurance laws.
(this is the responsibility of the state legislative bodies
New York Accident & Health Insurance Questions and Correct Answers
