NY Life, Accident, and Health Insurance
Agent/Broker Exam Series 17-55 EXAM
comprehensive questions and verified accurate
solution (detailed & elaborated) 2026 TEST
Save
Terms in this set (199)
Process 2103 (d-i) 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)) 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)) 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)) 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)) 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)) 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)) - 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) 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) 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) 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) any licensed attorney at law of this state.
Consultants (2107) 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.
Agent/Broker Exam Series 17-55 EXAM
comprehensive questions and verified accurate
solution (detailed & elaborated) 2026 TEST
Save
Terms in this set (199)
Process 2103 (d-i) 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)) 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)) 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)) 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)) 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)) 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)) - 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) 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) 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) 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) any licensed attorney at law of this state.
Consultants (2107) 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.
