Chapter 10 Insurance
Regulation 2026 | Study
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Answers
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Updated 2026 Questions and Answers
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, Qualifications for an insurer license 1. be a resident of NY state
2. be at least 18
3. have no felony convictions
4. fulfill the prelicensing education requirement of classroom work or equivalent
in correspondence work of similar instruction (20 hours a single line of authority
agent or broker, such as Life only agent or broker, 40 hours for a Life, accident,
and Health agent or broker, Personal lines agent or broker and Public Adjuster, 90
hours for a Property/Casualty agent or broker)
5. Pay the applicable fees
6.Pass the applicable exam for each line of authority
Licensing Exam Exemptions DO NOT HAVE TO TAKE THE WRITTEN EXAM
ticket selling agents or representatives (bus, train, or sea) for a one time issuance
of baggage or accident insurance
Any individual whose license has been revoked or suspended (at the discretion of
the Superintendent)
An individual seeking to be a representative of a fraternal benefit society as its
agent example Knight of Columbus , Free Mason
In connection with any certificate of appointment for an additional insurer, as long
as it is under the same line of authority already licensed
A nonresident licensee currently licensed in another state
At the Superintendents discretion, applicants who are chartered life underwriters.
All or part of the exam may be waived as well as prelicensing requirments
A licensee who was licensed on July 1, 1987 to represent any assessment
corporation
Fraternal benefit representatives do not have to be licensed if 50 percent or less
of their time is addressed to life sales
Refuse to Issue a License The Superintendent may refuse to issue any insurance agent's license if the
proposed licensee is found not to be trustworthy and competent, or has not
complied with any prerequistes.
Exemption from Licensing An insurance producer license is not required of any officer, director, or
employee of an insurer or organizations employed by insurers, provided that they
are not directly or indirectly involved with the actual sale of an insurance contract
and do not receive any commission. Example janitor, receptionist, Human
Resource manager
Types of Licenses These types can be issued in NY State
Insurance Agent
Insurance Broker
Business Entity
Consultant
Adjuster
Non resident
Temporary
Insurance Agents an individual who represents an insurance agency/company
The agent represents the insurer, not the insured
May work for multiple insurance companies
Insurance Broker an individual who represents the insured , not the insurer and acts on the best
interest of the insured
Regulation 2026 | Study
Guide, Questions &
Answers
|Graded A+ | Guaranteed
success|
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
, Qualifications for an insurer license 1. be a resident of NY state
2. be at least 18
3. have no felony convictions
4. fulfill the prelicensing education requirement of classroom work or equivalent
in correspondence work of similar instruction (20 hours a single line of authority
agent or broker, such as Life only agent or broker, 40 hours for a Life, accident,
and Health agent or broker, Personal lines agent or broker and Public Adjuster, 90
hours for a Property/Casualty agent or broker)
5. Pay the applicable fees
6.Pass the applicable exam for each line of authority
Licensing Exam Exemptions DO NOT HAVE TO TAKE THE WRITTEN EXAM
ticket selling agents or representatives (bus, train, or sea) for a one time issuance
of baggage or accident insurance
Any individual whose license has been revoked or suspended (at the discretion of
the Superintendent)
An individual seeking to be a representative of a fraternal benefit society as its
agent example Knight of Columbus , Free Mason
In connection with any certificate of appointment for an additional insurer, as long
as it is under the same line of authority already licensed
A nonresident licensee currently licensed in another state
At the Superintendents discretion, applicants who are chartered life underwriters.
All or part of the exam may be waived as well as prelicensing requirments
A licensee who was licensed on July 1, 1987 to represent any assessment
corporation
Fraternal benefit representatives do not have to be licensed if 50 percent or less
of their time is addressed to life sales
Refuse to Issue a License The Superintendent may refuse to issue any insurance agent's license if the
proposed licensee is found not to be trustworthy and competent, or has not
complied with any prerequistes.
Exemption from Licensing An insurance producer license is not required of any officer, director, or
employee of an insurer or organizations employed by insurers, provided that they
are not directly or indirectly involved with the actual sale of an insurance contract
and do not receive any commission. Example janitor, receptionist, Human
Resource manager
Types of Licenses These types can be issued in NY State
Insurance Agent
Insurance Broker
Business Entity
Consultant
Adjuster
Non resident
Temporary
Insurance Agents an individual who represents an insurance agency/company
The agent represents the insurer, not the insured
May work for multiple insurance companies
Insurance Broker an individual who represents the insured , not the insurer and acts on the best
interest of the insured
