NY Life, Accident, and Health
Insurance Agent/Broker Exam Series
17-55 Exam QUESTIONS AND
ANSWERS 100% RATED CORRECT
WITH 100% SURE PASS|GRADED A+
1. The Superintendent may issue a license to any person, firm or corporation who has complied with the
requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer.
Every individual applicant for a license under this section and every proposed sub-licensee must be 18
years of age or older at the time of issuance of such license. The person must submit to and pass a
written examination required by the Superintendent. - CORRECT ANSWERS Process 2103 (d-
i)
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. - CORRECT ANSWERS Producer Definition (2101(k))
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
insuranc - CORRECT ANSWERS Who Should be Licensed (2101(k)(1))
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. - CORRECT ANSWERS Home State (2101(l))
,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. - CORRECT ANSWERS Negotiate (2101(m))
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. - CORRECT
ANSWERS Sell (2101(n))
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. - CORRECT ANSWERS Solicit (2101(o)) -
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. - CORRECT ANSWERS Agent 2101(a)
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). - CORRECT ANSWERS Agent 2101(k)
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. - CORRECT ANSWERS Brokers 2101(c)
,any licensed attorney at law of this state. - CORRECT ANSWERS Brokers 2101(h)
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. - CORRECT ANSWERS Consultants (2107)
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 - CORRECT ANSWERS Adjuster 2101(g)
Adjusters will be licensed as either independent adjusters, or as public adjusters. The Superintendent
may prescribe the types of independent adjusters' licenses according to the kind or kinds of insurance
claims which the licensee is to be authorized to investigate and adjust. No adjuster may act on behalf of
an insurer unless licensed as an 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. -
CORRECT ANSWERS Adjuster 2108
In this section, non-resident insurance agent means an individual who is a non-resident of this state and
who is licensed or authorized to act as an insurance agent in the state in which he resides, or in which he
or the firm or association of which he is a member or employee, or the corporation, of which he is an
officer, director, or employee maintains an office as an insurance agent. - CORRECT ANSWERS
Nonresident 2101(d)
, In this section, "non-resident insurance broker", means an individual who is a non-resident of this state
and who is licensed or authorized to act as an insurance broker in the state in which he resides, or in
which he, or the firm or association of which he is a member or employee, or the corporation, of which
he is an officer, director or employee maintains an office as an insurance broker. - CORRECT ANSWERS
Nonresident 2101(e)
In the discretion of the Superintendent, no written insurance examination will be required of any
individual seeking to be named as a licensee or sub-licensee who is a non-resident insurance agent. -
CORRECT ANSWERS Nonresident 2103(g)(5)
No written insurance examination will be required of any individual who applies for an insurance agent
license in this state who was previously licensed for the same line or lines of authority in another state,
provided, however, that the applicant's home state grants non-resident licenses to residents of this
state on the same basis. Such individual shall also not be required to complete any prelicensing
education. This exemption is only available if the person is currently licensed in that state or if the
application is received within 90 days of the date of cancellation of the applicant's previous license and if
the prior state issues a certification that, at the time of cancellation, the applicant was in good standing
in that state or the state's producer database records, maintained by the National Association of
Insurance Commissioners, its affiliates or subsidiaries indicate that the producer is or was license -
CORRECT ANSWERS Nonresident 2103(g)(11)
The Superintendent shall waive any requirements for a nonresident license applicant otherwise
applicable under this chapter if:
(a) the applicant has a current and valid license in his or her home state and is in good standing in his or
her home state;
(b) the applicant has submitted a completed application in the form prescribed by the Superintendent or
submitted the application for licensure submitted to his or her home state;
(c) the applicant has paid the fees required by this chapter; and
(d) the applicant's home state awards nonresident insurance producer licenses to residents of this state
on the same basis as provided in this subsection. - CORRECT ANSWERS Nonresident 2136 -
Reciprocity
A business entity means a corporation, association, partnership, limited liability company, limited
liability partnership or other legal entity. - CORRECT ANSWERS Business Entities 2101(p)
Insurance Agent/Broker Exam Series
17-55 Exam QUESTIONS AND
ANSWERS 100% RATED CORRECT
WITH 100% SURE PASS|GRADED A+
1. The Superintendent may issue a license to any person, firm or corporation who has complied with the
requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer.
Every individual applicant for a license under this section and every proposed sub-licensee must be 18
years of age or older at the time of issuance of such license. The person must submit to and pass a
written examination required by the Superintendent. - CORRECT ANSWERS Process 2103 (d-
i)
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. - CORRECT ANSWERS Producer Definition (2101(k))
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
insuranc - CORRECT ANSWERS Who Should be Licensed (2101(k)(1))
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. - CORRECT ANSWERS Home State (2101(l))
,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. - CORRECT ANSWERS Negotiate (2101(m))
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. - CORRECT
ANSWERS Sell (2101(n))
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. - CORRECT ANSWERS Solicit (2101(o)) -
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. - CORRECT ANSWERS Agent 2101(a)
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). - CORRECT ANSWERS Agent 2101(k)
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. - CORRECT ANSWERS Brokers 2101(c)
,any licensed attorney at law of this state. - CORRECT ANSWERS Brokers 2101(h)
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. - CORRECT ANSWERS Consultants (2107)
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 - CORRECT ANSWERS Adjuster 2101(g)
Adjusters will be licensed as either independent adjusters, or as public adjusters. The Superintendent
may prescribe the types of independent adjusters' licenses according to the kind or kinds of insurance
claims which the licensee is to be authorized to investigate and adjust. No adjuster may act on behalf of
an insurer unless licensed as an 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. -
CORRECT ANSWERS Adjuster 2108
In this section, non-resident insurance agent means an individual who is a non-resident of this state and
who is licensed or authorized to act as an insurance agent in the state in which he resides, or in which he
or the firm or association of which he is a member or employee, or the corporation, of which he is an
officer, director, or employee maintains an office as an insurance agent. - CORRECT ANSWERS
Nonresident 2101(d)
, In this section, "non-resident insurance broker", means an individual who is a non-resident of this state
and who is licensed or authorized to act as an insurance broker in the state in which he resides, or in
which he, or the firm or association of which he is a member or employee, or the corporation, of which
he is an officer, director or employee maintains an office as an insurance broker. - CORRECT ANSWERS
Nonresident 2101(e)
In the discretion of the Superintendent, no written insurance examination will be required of any
individual seeking to be named as a licensee or sub-licensee who is a non-resident insurance agent. -
CORRECT ANSWERS Nonresident 2103(g)(5)
No written insurance examination will be required of any individual who applies for an insurance agent
license in this state who was previously licensed for the same line or lines of authority in another state,
provided, however, that the applicant's home state grants non-resident licenses to residents of this
state on the same basis. Such individual shall also not be required to complete any prelicensing
education. This exemption is only available if the person is currently licensed in that state or if the
application is received within 90 days of the date of cancellation of the applicant's previous license and if
the prior state issues a certification that, at the time of cancellation, the applicant was in good standing
in that state or the state's producer database records, maintained by the National Association of
Insurance Commissioners, its affiliates or subsidiaries indicate that the producer is or was license -
CORRECT ANSWERS Nonresident 2103(g)(11)
The Superintendent shall waive any requirements for a nonresident license applicant otherwise
applicable under this chapter if:
(a) the applicant has a current and valid license in his or her home state and is in good standing in his or
her home state;
(b) the applicant has submitted a completed application in the form prescribed by the Superintendent or
submitted the application for licensure submitted to his or her home state;
(c) the applicant has paid the fees required by this chapter; and
(d) the applicant's home state awards nonresident insurance producer licenses to residents of this state
on the same basis as provided in this subsection. - CORRECT ANSWERS Nonresident 2136 -
Reciprocity
A business entity means a corporation, association, partnership, limited liability company, limited
liability partnership or other legal entity. - CORRECT ANSWERS Business Entities 2101(p)
