NY LIFE ACCIDENT AND HEALTH INSURANCE
AGENT BROKER EXAM PREP STUDY GUIDE
2025 COMPREHENSIVE QUESTIONS AND FULL
SOLUTION REVIEW GRADED A+
◉ Producer Definition (2101(k)) Answer: An insurance producer means
an insurance agent, insurance broker, reinsurance intermediary, excess
lines broker, or any other person required to be licensed under the
insurance laws of this state to sell, solicit or negotiate insurance.
◉ Who Should be Licensed (2101(k)(1)) Answer: 1. The term
"insurance producer" does not include: An officer, director or employee
of a licensed insurer, fraternal benefit society or health maintenance
organization or of a licensed insurance producer, provided that the
officer, director or employee does not receive any commission on
policies written or sold to insure risks residing, located or to be
performed in this state and:
(a) the officer, director or employee's activities are executive,
administrative, managerial, clerical or a combination of these, and are
only indirectly related to the sale, solicitation or negotiation of
insurance;
(b) the officer, director or employee's function relates to underwriting,
loss control, Inspection or the processing, adjusting, investigating or
settling of a claim on a contract of Insurance; or (c) the officer, director
or employee is acting in the capacity of a special agent or agency
supervisor assisting licensed insurance producers where the person's
activities are limited to providing technical advice and assistance to
,licensed insurance producers and do not include the sale, solicitation or
negotiation of insurance.
◉ Home State (2101(l)) Answer: Home 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 residence
or principal place of business and is licensed to act as an insurance
producer.
◉ Negotiate (2101(m)) Answer: Negotiate or negotiation means the act
of conferring directly with or offering advice directly to a purchaser or
prospective purchaser of a particular contract of insurance concerning
any of the substantive benefits, terms or conditions of the contract,
provided that the person engaged in that act either sells insurance or
obtains insurance from licensed insurers, fraternal benefit societies or
health maintenance organizations for purchasers.
◉ Sell (2101(n)) Answer: Sell or sale means to exchange a contract of
insurance by any means, for money or its equivalent, on behalf of a
licensed insurer, fraternal benefit society or health maintenance
organization.
◉ Solicit (2101(o)) - Answer: Solicit or solicitation means attempting to
sell insurance or asking or urging a person to apply for a particular kind
of insurance from a particular licensed insurer, fraternal benefit society
or health maintenance organization.
,◉ Agent 2101(a) Answer: In this section, insurance agent means any
authorized or acknowledged agent of an insurer, fraternal benefit society
or health maintenance organization issued a certificate of authority
pursuant to the public health law, and any sub-agent or other
representative of such an agent, who acts as such in the solicitation of,
negotiation for, or sale of, an insurance, health maintenance organization
or annuity contract, other than as a licensed insurance broker.
◉ Agent 2101(k) Answer: insurance producer means an insurance agent,
insurance broker, reinsurance intermediary, excess lines broker, or any
other person required to be licensed under the insurance laws of this
state to sell, solicit or negotiate insurance.
The applicant must be at least 18 years of age at the time of license
issuance.
An examination is required for each applicant, except where noted for
applicants with a change in residency moving to New York (see code
2103 below).
◉ Brokers 2101(c) Answer: a licensed insurance representative who
does not represent a specific insurance company, but places business
among various companies. Legally, the broker is usually regarded as a
representative of the insured rather than the insuring company.
◉ Brokers 2101(h) Answer: any licensed attorney at law of this state.
, ◉ Consultants (2107) Answer: The Superintendent may issue an
insurance consultant's license to any person, firm, association or
corporation who or which has complied with the requirements of this
chapter with respect to either: life insurance, meaning all of those kinds
of insurance authorized. Any such license issued to a firm or association
shall authorize only the members of such firm or association named in
such license as sub-licensees to act individually as consultants there
under, and any such license issued to a corporation shall authorize only
the officers and directors thereof named in such license as sub-licensees
to act individually as consultants there under.
◉ Adjuster 2101(g) Answer: The Superintendent may, in his discretion
require an applicant for a license under this section to present evidence,
in such form as he prescribes, that such applicant has been employed, for
a period which he deems reasonable, by an insurer, an independent
adjuster or a public adjuster, in the performance of duties which in his
opinion would provide the applicant with a satisfactory preliminary
training for the duties and responsibilities which would 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, acts in this state on behalf of an insurer in
the work of investigating and adjusting claims arising under insurance
contracts issued by such insurer and who performs such duties required
by such insurer as are incidental to such claims and also includes any
person who for compensation or anything of value investigates and
adjusts claims on behalf of any independent adjuster.
AGENT BROKER EXAM PREP STUDY GUIDE
2025 COMPREHENSIVE QUESTIONS AND FULL
SOLUTION REVIEW GRADED A+
◉ Producer Definition (2101(k)) Answer: An insurance producer means
an insurance agent, insurance broker, reinsurance intermediary, excess
lines broker, or any other person required to be licensed under the
insurance laws of this state to sell, solicit or negotiate insurance.
◉ Who Should be Licensed (2101(k)(1)) Answer: 1. The term
"insurance producer" does not include: An officer, director or employee
of a licensed insurer, fraternal benefit society or health maintenance
organization or of a licensed insurance producer, provided that the
officer, director or employee does not receive any commission on
policies written or sold to insure risks residing, located or to be
performed in this state and:
(a) the officer, director or employee's activities are executive,
administrative, managerial, clerical or a combination of these, and are
only indirectly related to the sale, solicitation or negotiation of
insurance;
(b) the officer, director or employee's function relates to underwriting,
loss control, Inspection or the processing, adjusting, investigating or
settling of a claim on a contract of Insurance; or (c) the officer, director
or employee is acting in the capacity of a special agent or agency
supervisor assisting licensed insurance producers where the person's
activities are limited to providing technical advice and assistance to
,licensed insurance producers and do not include the sale, solicitation or
negotiation of insurance.
◉ Home State (2101(l)) Answer: Home 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 residence
or principal place of business and is licensed to act as an insurance
producer.
◉ Negotiate (2101(m)) Answer: Negotiate or negotiation means the act
of conferring directly with or offering advice directly to a purchaser or
prospective purchaser of a particular contract of insurance concerning
any of the substantive benefits, terms or conditions of the contract,
provided that the person engaged in that act either sells insurance or
obtains insurance from licensed insurers, fraternal benefit societies or
health maintenance organizations for purchasers.
◉ Sell (2101(n)) Answer: Sell or sale means to exchange a contract of
insurance by any means, for money or its equivalent, on behalf of a
licensed insurer, fraternal benefit society or health maintenance
organization.
◉ Solicit (2101(o)) - Answer: Solicit or solicitation means attempting to
sell insurance or asking or urging a person to apply for a particular kind
of insurance from a particular licensed insurer, fraternal benefit society
or health maintenance organization.
,◉ Agent 2101(a) Answer: In this section, insurance agent means any
authorized or acknowledged agent of an insurer, fraternal benefit society
or health maintenance organization issued a certificate of authority
pursuant to the public health law, and any sub-agent or other
representative of such an agent, who acts as such in the solicitation of,
negotiation for, or sale of, an insurance, health maintenance organization
or annuity contract, other than as a licensed insurance broker.
◉ Agent 2101(k) Answer: insurance producer means an insurance agent,
insurance broker, reinsurance intermediary, excess lines broker, or any
other person required to be licensed under the insurance laws of this
state to sell, solicit or negotiate insurance.
The applicant must be at least 18 years of age at the time of license
issuance.
An examination is required for each applicant, except where noted for
applicants with a change in residency moving to New York (see code
2103 below).
◉ Brokers 2101(c) Answer: a licensed insurance representative who
does not represent a specific insurance company, but places business
among various companies. Legally, the broker is usually regarded as a
representative of the insured rather than the insuring company.
◉ Brokers 2101(h) Answer: any licensed attorney at law of this state.
, ◉ Consultants (2107) Answer: The Superintendent may issue an
insurance consultant's license to any person, firm, association or
corporation who or which has complied with the requirements of this
chapter with respect to either: life insurance, meaning all of those kinds
of insurance authorized. Any such license issued to a firm or association
shall authorize only the members of such firm or association named in
such license as sub-licensees to act individually as consultants there
under, and any such license issued to a corporation shall authorize only
the officers and directors thereof named in such license as sub-licensees
to act individually as consultants there under.
◉ Adjuster 2101(g) Answer: The Superintendent may, in his discretion
require an applicant for a license under this section to present evidence,
in such form as he prescribes, that such applicant has been employed, for
a period which he deems reasonable, by an insurer, an independent
adjuster or a public adjuster, in the performance of duties which in his
opinion would provide the applicant with a satisfactory preliminary
training for the duties and responsibilities which would 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, acts in this state on behalf of an insurer in
the work of investigating and adjusting claims arising under insurance
contracts issued by such insurer and who performs such duties required
by such insurer as are incidental to such claims and also includes any
person who for compensation or anything of value investigates and
adjusts claims on behalf of any independent adjuster.
