New York Accident & Health Insurance questions
and answers with solutions
Agent Licesne - 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 - 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 - 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 - 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 - ANSWER acts on behalf of th insurer to investigata and sjust claims arising
under insurance contracts issued by the insurer
, Non Resident - 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 - ANSWER Can be issued to spouse of deceased or next of kim from a
disability
Tremination of License - 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 - 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 - 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,
and answers with solutions
Agent Licesne - 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 - 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 - 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 - 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 - ANSWER acts on behalf of th insurer to investigata and sjust claims arising
under insurance contracts issued by the insurer
, Non Resident - 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 - ANSWER Can be issued to spouse of deceased or next of kim from a
disability
Tremination of License - 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 - 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 - 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,
