NY
NY Life, Accident, and Health Insurance Agent (Broker) Exam Series
17-55
Process 2103 (d-i) - ✔✔ 💯 Correct 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)) - ✔✔ 💯 Correct 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)) – ✔✔ 💯 Correct ✔✔ 💯 Correct 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)) - ✔✔ 💯 Correct Answer Home state means the District of
Columbia or any state or territory of the United States in which an insurance
..
,NY
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 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)) - ✔✔ 💯 Correct ✔✔ 💯 Correct 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)) - - ✔✔ 💯 Correct ✔✔ 💯 Correct 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) - ✔✔ 💯 Correct 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) - ✔✔ 💯 Correct 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.
,NY
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 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) - ✔✔ 💯 Correct Answer any licensed attorney at law of this state.
Consultants (2107) - ✔✔ 💯 Correct 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) - ✔✔ 💯 Correct 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 - ✔✔ 💯 Correct 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
, NY
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 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) - ✔✔ 💯 Correct 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) - ✔✔ 💯 Correct 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) - ✔✔ 💯 Correct 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
NY Life, Accident, and Health Insurance Agent (Broker) Exam Series
17-55
Process 2103 (d-i) - ✔✔ 💯 Correct 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)) - ✔✔ 💯 Correct 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)) – ✔✔ 💯 Correct ✔✔ 💯 Correct 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)) - ✔✔ 💯 Correct Answer Home state means the District of
Columbia or any state or territory of the United States in which an insurance
..
,NY
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 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)) - ✔✔ 💯 Correct ✔✔ 💯 Correct 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)) - - ✔✔ 💯 Correct ✔✔ 💯 Correct 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) - ✔✔ 💯 Correct 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) - ✔✔ 💯 Correct 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.
,NY
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 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) - ✔✔ 💯 Correct Answer any licensed attorney at law of this state.
Consultants (2107) - ✔✔ 💯 Correct 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) - ✔✔ 💯 Correct 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 - ✔✔ 💯 Correct 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
, NY
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 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) - ✔✔ 💯 Correct 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) - ✔✔ 💯 Correct 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) - ✔✔ 💯 Correct 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
