CH 8 NY State Laws Exam
Questions and Answers 100%
PASS
Instead of revoking or suspensing an insurance license, the Superintendent may impose an
aggregate penalty of up to what dollar amount for all offenses?*—ANSWER--$2,500.
The Superintendent, in lieu of revoking or suspending a license, may, in any one proceeding,
by order, require the licensee to pay a penalty of up to $500 per offense, and a penalty in a
sum not exceeding $2,500 in the aggregate for all offenses.
An insurance agent, broker, consultant, excess line broker, reinsurance intermediary or
adjuster must do which of the following in order to receive any commission?—ANSWER--
Actually place insurance coverage on behalf of insurer.
An insurance agent, broker, consultant, excess line broker, reinsurance intermediary, or
adjuster must actually place insurance coverage on behalf of, or rendered insurance services
to, the state or its agencies and departments, in order to receive any commissions or fees for
such placement or service.
, Non-public personal information obtained in connection with a life settlement contract is
subject to which applicable law relating to confidentiality of non-public personal
information, including?—ANSWER--Non-public personal information obtained in connection
with a life settlement contract is subject to the Gramm-Leach Bliley Act, HIPAA, and all other
applicable laws relating to confidentiality of non-public personal information.
Financing Entity—ANSWER--An accredited investor provides funds to effect the life
settlement contract or to purchase one or more policies; and has an agreement in writing
with a life settlement provider to finance the acquisition of a life settlement contract.
A licensed producer born on June 10, 1970, licensed May 10, 2014 will be due for license
renewal on what date?*—ANSWER--A July 10, 2017
B July 10, 2018
C June 10, 2016 ( correct choice)
D June 10, 2019.
Licenses are issued for 24 months and expire on the agent's date of birth in even or odd
years. Agents born in even years will renew in even years. Agents born in odd years will
renew in odd years.
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
Questions and Answers 100%
PASS
Instead of revoking or suspensing an insurance license, the Superintendent may impose an
aggregate penalty of up to what dollar amount for all offenses?*—ANSWER--$2,500.
The Superintendent, in lieu of revoking or suspending a license, may, in any one proceeding,
by order, require the licensee to pay a penalty of up to $500 per offense, and a penalty in a
sum not exceeding $2,500 in the aggregate for all offenses.
An insurance agent, broker, consultant, excess line broker, reinsurance intermediary or
adjuster must do which of the following in order to receive any commission?—ANSWER--
Actually place insurance coverage on behalf of insurer.
An insurance agent, broker, consultant, excess line broker, reinsurance intermediary, or
adjuster must actually place insurance coverage on behalf of, or rendered insurance services
to, the state or its agencies and departments, in order to receive any commissions or fees for
such placement or service.
, Non-public personal information obtained in connection with a life settlement contract is
subject to which applicable law relating to confidentiality of non-public personal
information, including?—ANSWER--Non-public personal information obtained in connection
with a life settlement contract is subject to the Gramm-Leach Bliley Act, HIPAA, and all other
applicable laws relating to confidentiality of non-public personal information.
Financing Entity—ANSWER--An accredited investor provides funds to effect the life
settlement contract or to purchase one or more policies; and has an agreement in writing
with a life settlement provider to finance the acquisition of a life settlement contract.
A licensed producer born on June 10, 1970, licensed May 10, 2014 will be due for license
renewal on what date?*—ANSWER--A July 10, 2017
B July 10, 2018
C June 10, 2016 ( correct choice)
D June 10, 2019.
Licenses are issued for 24 months and expire on the agent's date of birth in even or odd
years. Agents born in even years will renew in even years. Agents born in odd years will
renew in odd years.
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
