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+
Process 2103 (d-i) - CORRECT ANSWERS 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.
Producer Definition (2101(k)) - CORRECT ANSWERS 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)) - CORRECT ANSWERS 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)) - CORRECT ANSWERS 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)) - CORRECT ANSWERS 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)) - CORRECT ANSWERS 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)) - - CORRECT ANSWERS 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) - CORRECT ANSWERS 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) - CORRECT ANSWERS 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) - CORRECT ANSWERS 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) - CORRECT ANSWERS any licensed attorney at law of this state.
,Consultants (2107) - CORRECT ANSWERS 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) - CORRECT ANSWERS 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.
Adjuster 2108 - CORRECT ANSWERS 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.
Nonresident 2101(d) - CORRECT ANSWERS 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.
Nonresident 2101(e) - CORRECT ANSWERS 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.
Nonresident 2103(g)(5) - CORRECT ANSWERS 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.
Nonresident 2103(g)(11) - CORRECT ANSWERS 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 licensed in good standing for the line of authority requested. An
individual or entity licensed in another state that moves to this state must make an application within 90
days of establishing legal residence to become a resident licensee. No prelicensing education or
examination will be required of that person to obtain any line of authority previously held in the prior
state except where the Superintendent determines otherwise by regulation.
Nonresident 2136 - Reciprocity - CORRECT ANSWERS 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.
Agent/Broker Exam Series 17-55 Exam
QUESTIONS AND ANSWERS 100% RATED
CORRECT WITH 100% SURE PASS|GRADED A+
Process 2103 (d-i) - CORRECT ANSWERS 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.
Producer Definition (2101(k)) - CORRECT ANSWERS 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)) - CORRECT ANSWERS 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)) - CORRECT ANSWERS 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)) - CORRECT ANSWERS 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)) - CORRECT ANSWERS 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)) - - CORRECT ANSWERS 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) - CORRECT ANSWERS 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) - CORRECT ANSWERS 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) - CORRECT ANSWERS 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) - CORRECT ANSWERS any licensed attorney at law of this state.
,Consultants (2107) - CORRECT ANSWERS 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) - CORRECT ANSWERS 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.
Adjuster 2108 - CORRECT ANSWERS 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.
Nonresident 2101(d) - CORRECT ANSWERS 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.
Nonresident 2101(e) - CORRECT ANSWERS 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.
Nonresident 2103(g)(5) - CORRECT ANSWERS 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.
Nonresident 2103(g)(11) - CORRECT ANSWERS 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 licensed in good standing for the line of authority requested. An
individual or entity licensed in another state that moves to this state must make an application within 90
days of establishing legal residence to become a resident licensee. No prelicensing education or
examination will be required of that person to obtain any line of authority previously held in the prior
state except where the Superintendent determines otherwise by regulation.
Nonresident 2136 - Reciprocity - CORRECT ANSWERS 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.
