NY LIFE, ACCIDENT, AND HEALTH INSURANCE AGENT BROKER
EXAM SERIES 17-55 200 QUESTIONS GRADED A
Process 2103 (d-i) -ANSWER-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)) -ANSWER-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)) -ANSWER-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)) -ANSWER-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)) -ANSWER-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)) -ANSWER-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)) - -ANSWER-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) -ANSWER-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) -ANSWER-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) -ANSWER-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) -ANSWER-any licensed attorney at law of this state.
Consultants (2107) -ANSWER-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) -ANSWER-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 -ANSWER-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) -ANSWER-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) -ANSWER-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) -ANSWER-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) -ANSWER-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 -ANSWER-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
EXAM SERIES 17-55 200 QUESTIONS GRADED A
Process 2103 (d-i) -ANSWER-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)) -ANSWER-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)) -ANSWER-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)) -ANSWER-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)) -ANSWER-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)) -ANSWER-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)) - -ANSWER-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) -ANSWER-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) -ANSWER-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) -ANSWER-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) -ANSWER-any licensed attorney at law of this state.
Consultants (2107) -ANSWER-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) -ANSWER-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 -ANSWER-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) -ANSWER-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) -ANSWER-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) -ANSWER-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) -ANSWER-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 -ANSWER-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
