NY Life, Accident, and Health Insurance Agent/Broker
Exam Series 17-55 Ques$ons and answers new
Process 2103 (d-i) - Ans 1. The Superintendent may issue a license to any person, firm or
corpora on 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 sec on and every proposed sub-licensee must be 18 years of age or older at the me of
issuance of such license. The person must submit to and pass a wri,en examina on required by
the Superintendent.
Producer Defini on (2101(k)) - Ans 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 nego ate insurance.
Who Should be Licensed (2101(k)(1)) - Ans 1. The term "insurance producer" does not include:
An officer, director or employee of a licensed insurer, fraternal benefit society or health
maintenance organiza on or of a licensed insurance producer, provided that the officer, director
or employee does not receive any commission on policies wri,en or sold to insure risks
residing, located or to be performed in this state and:
(a) the officer, director or employee's ac vi es are execu ve, administra ve, managerial,
clerical or a combina on of these, and are only indirectly related to the sale, solicita on or
nego a on of insurance;
(b) the officer, director or employee's func on relates to underwri ng, loss control, Inspec on
or the processing, adjus ng, inves ga ng or se,ling of a claim on a contract of Insurance; or (c)
the officer, director or employee is ac ng in the capacity of a special agent or agency supervisor
assis ng licensed insurance producers where the person's ac vi es are limited to providing
technical advice and assistance to licensed insurance producers and do not include the sale,
solicita on or nego a on of insurance.
Home State (2101(l)) - Ans 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.
, Nego ate (2101(m)) - Ans Nego ate or nego a on means the act of conferring directly with
or offering advice directly to a purchaser or prospec ve purchaser of a par cular contract of
insurance concerning any of the substan ve benefits, terms or condi ons of the contract,
provided that the person engaged in that act either sells insurance or obtains insurance from
licensed insurers, fraternal benefit socie es or health maintenance organiza ons for purchasers.
Sell (2101(n)) - Ans 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 organiza on.
Solicit (2101(o)) - - Ans Solicit or solicita on means a,emp ng to sell insurance or asking or
urging a person to apply for a par cular kind of insurance from a par cular licensed insurer,
fraternal benefit society or health maintenance organiza on.
Agent 2101(a) - Ans In this sec on, insurance agent means any authorized or acknowledged
agent of an insurer, fraternal benefit society or health maintenance organiza on issued a
cer ficate of authority pursuant to the public health law, and any sub-agent or other
representa ve of such an agent, who acts as such in the solicita on of, nego a on for, or sale
of, an insurance, health maintenance organiza on or annuity contract, other than as a licensed
insurance broker.
Agent 2101(k) - Ans 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 nego ate insurance.
The applicant must be at least 18 years of age at the me of license issuance.
An examina on 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) - Ans a licensed insurance representa ve who does not represent a specific
insurance company, but places business among various companies. Legally, the broker is usually
regarded as a representa ve of the insured rather than the insuring company.
,Brokers 2101(h) - Ans any licensed a,orney at law of this state.
Consultants (2107) - Ans The Superintendent may issue an insurance consultant's license to
any person, firm, associa on or corpora on 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 associa on shall authorize only the members of
such firm or associa on named in such license as sub-licensees to act individually as consultants
there under, and any such license issued to a corpora on 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) - Ans The Superintendent may, in his discre on require an applicant for a
license under this sec on 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 du es which in his opinion
would provide the applicant with a sa sfactory preliminary training for the du es and
responsibili es which would evolve upon him as a licensee under this sec on. The term
independent adjuster means any person, firm, associa on or corpora on who for money,
commission or any other thing of value, acts in this state on behalf of an insurer in the work of
inves ga ng and adjus ng claims arising under insurance contracts issued by such insurer and
who performs such du es required by such insurer as are incidental to such claims and also
includes any person who for compensa on or anything of value inves gates and adjusts claims
on behalf of any independent adjuster.
Adjuster 2108 - Ans 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
inves gate 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) - Ans In this sec on, 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 associa on of which he is a
member or employee, or the corpora on, of which he is an officer, director, or employee
maintains an office as an insurance agent.
Nonresident 2101(e) - Ans In this sec on, "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 associa on of
which he is a member or employee, or the corpora on, of which he is an officer, director or
employee maintains an office as an insurance broker.
Nonresident 2103(g)(5) - Ans In the discre on of the Superintendent, no wri,en insurance
examina on 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) - Ans No wri,en insurance examina on 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 educa on. This exemp on is
only available if the person is currently licensed in that state or if the applica on is received
within 90 days of the date of cancella on of the applicant's previous license and if the prior
state issues a cer fica on that, at the me of cancella on, the applicant was in good standing in
that state or the state's producer database records, maintained by the Na onal Associa on 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 en ty licensed in
another state that moves to this state must make an applica on within 90 days of establishing
legal residence to become a resident licensee. No prelicensing educa on or examina on 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 regula on.
Nonresident 2136 - Reciprocity - Ans 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;
Exam Series 17-55 Ques$ons and answers new
Process 2103 (d-i) - Ans 1. The Superintendent may issue a license to any person, firm or
corpora on 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 sec on and every proposed sub-licensee must be 18 years of age or older at the me of
issuance of such license. The person must submit to and pass a wri,en examina on required by
the Superintendent.
Producer Defini on (2101(k)) - Ans 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 nego ate insurance.
Who Should be Licensed (2101(k)(1)) - Ans 1. The term "insurance producer" does not include:
An officer, director or employee of a licensed insurer, fraternal benefit society or health
maintenance organiza on or of a licensed insurance producer, provided that the officer, director
or employee does not receive any commission on policies wri,en or sold to insure risks
residing, located or to be performed in this state and:
(a) the officer, director or employee's ac vi es are execu ve, administra ve, managerial,
clerical or a combina on of these, and are only indirectly related to the sale, solicita on or
nego a on of insurance;
(b) the officer, director or employee's func on relates to underwri ng, loss control, Inspec on
or the processing, adjus ng, inves ga ng or se,ling of a claim on a contract of Insurance; or (c)
the officer, director or employee is ac ng in the capacity of a special agent or agency supervisor
assis ng licensed insurance producers where the person's ac vi es are limited to providing
technical advice and assistance to licensed insurance producers and do not include the sale,
solicita on or nego a on of insurance.
Home State (2101(l)) - Ans 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.
, Nego ate (2101(m)) - Ans Nego ate or nego a on means the act of conferring directly with
or offering advice directly to a purchaser or prospec ve purchaser of a par cular contract of
insurance concerning any of the substan ve benefits, terms or condi ons of the contract,
provided that the person engaged in that act either sells insurance or obtains insurance from
licensed insurers, fraternal benefit socie es or health maintenance organiza ons for purchasers.
Sell (2101(n)) - Ans 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 organiza on.
Solicit (2101(o)) - - Ans Solicit or solicita on means a,emp ng to sell insurance or asking or
urging a person to apply for a par cular kind of insurance from a par cular licensed insurer,
fraternal benefit society or health maintenance organiza on.
Agent 2101(a) - Ans In this sec on, insurance agent means any authorized or acknowledged
agent of an insurer, fraternal benefit society or health maintenance organiza on issued a
cer ficate of authority pursuant to the public health law, and any sub-agent or other
representa ve of such an agent, who acts as such in the solicita on of, nego a on for, or sale
of, an insurance, health maintenance organiza on or annuity contract, other than as a licensed
insurance broker.
Agent 2101(k) - Ans 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 nego ate insurance.
The applicant must be at least 18 years of age at the me of license issuance.
An examina on 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) - Ans a licensed insurance representa ve who does not represent a specific
insurance company, but places business among various companies. Legally, the broker is usually
regarded as a representa ve of the insured rather than the insuring company.
,Brokers 2101(h) - Ans any licensed a,orney at law of this state.
Consultants (2107) - Ans The Superintendent may issue an insurance consultant's license to
any person, firm, associa on or corpora on 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 associa on shall authorize only the members of
such firm or associa on named in such license as sub-licensees to act individually as consultants
there under, and any such license issued to a corpora on 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) - Ans The Superintendent may, in his discre on require an applicant for a
license under this sec on 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 du es which in his opinion
would provide the applicant with a sa sfactory preliminary training for the du es and
responsibili es which would evolve upon him as a licensee under this sec on. The term
independent adjuster means any person, firm, associa on or corpora on who for money,
commission or any other thing of value, acts in this state on behalf of an insurer in the work of
inves ga ng and adjus ng claims arising under insurance contracts issued by such insurer and
who performs such du es required by such insurer as are incidental to such claims and also
includes any person who for compensa on or anything of value inves gates and adjusts claims
on behalf of any independent adjuster.
Adjuster 2108 - Ans 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
inves gate 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) - Ans In this sec on, 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 associa on of which he is a
member or employee, or the corpora on, of which he is an officer, director, or employee
maintains an office as an insurance agent.
Nonresident 2101(e) - Ans In this sec on, "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 associa on of
which he is a member or employee, or the corpora on, of which he is an officer, director or
employee maintains an office as an insurance broker.
Nonresident 2103(g)(5) - Ans In the discre on of the Superintendent, no wri,en insurance
examina on 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) - Ans No wri,en insurance examina on 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 educa on. This exemp on is
only available if the person is currently licensed in that state or if the applica on is received
within 90 days of the date of cancella on of the applicant's previous license and if the prior
state issues a cer fica on that, at the me of cancella on, the applicant was in good standing in
that state or the state's producer database records, maintained by the Na onal Associa on 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 en ty licensed in
another state that moves to this state must make an applica on within 90 days of establishing
legal residence to become a resident licensee. No prelicensing educa on or examina on 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 regula on.
Nonresident 2136 - Reciprocity - Ans 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;
