NY Life, Accident, and Health Insurance Agent/Broker Exam Series
17-55 Questions and Answers
Process 2103 (d-i) - -1. The person's activities are limited to providing
Superintendent may issue a license to any technical advice and assistance to licensed
person, firm or corporation who has complied insurance producers and do not include the sale,
with the requirements of the Insurance Code, solicitation or negotiation of insurance.
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 Home State (2101(l)) - -Home state means
the time of issuance of such license. The person the District of Columbia or any state or territory of
must submit to and pass a written examination the United States in which an insurance producer
required by the Superintendent. maintains his, her or its principal place of
residence or principal place of business and is
licensed to act as an insurance producer.
Producer Definition (2101(k)) - -An
insurance producer means an insurance agent,
insurance broker, reinsurance intermediary, Negotiate (2101(m)) - -Negotiate or
excess lines broker, or any other person required negotiation means the act of conferring directly
to be licensed under the insurance laws of this with or offering advice directly to a purchaser or
state to sell, solicit or negotiate insurance. 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
Who Should be Licensed (2101(k)(1)) - -1. either sells insurance or obtains insurance from
The term "insurance producer" does not include: licensed insurers, fraternal benefit societies or
An officer, director or employee of a licensed health maintenance organizations for purchasers.
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 Sell (2101(n)) - -Sell or sale means to
commission on policies written or sold to insure exchange a contract of insurance by any means,
risks residing, located or to be performed in this for money or its equivalent, on behalf of a
state and: licensed insurer, fraternal benefit society or
(a) the officer, director or employee's activities health maintenance organization.
are executive, administrative, managerial, clerical
or a combination of these, and are only indirectly
related to the sale, solicitation or negotiation of
insurance; Solicit (2101(o)) - - -Solicit or solicitation
(b) the officer, director or employee's function means attempting to sell insurance or asking or
relates to underwriting, loss control, Inspection or urging a person to apply for a particular kind of
the processing, adjusting, investigating or settling insurance from a particular licensed insurer,
of a claim on a contract of Insurance; or (c) the fraternal benefit society or health maintenance
officer, director or employee is acting in the organization.
capacity of a special agent or agency supervisor
assisting licensed insurance producers where the
,NY Life, Accident, and Health Insurance Agent/Broker Exam Series
17-55 Questions and Answers
may issue an insurance consultant's license to
Agent 2101(a) - -In this section, insurance any person, firm, association or corporation who
agent means any authorized or acknowledged or which has complied with the requirements of
agent of an insurer, fraternal benefit society or this chapter with respect to either: life insurance,
health maintenance organization issued a meaning all of those kinds of insurance
certificate of authority pursuant to the public authorized. Any such license issued to a firm or
health law, and any sub-agent or other association shall authorize only the members of
representative of such an agent, who acts as such firm or association named in such license
such in the solicitation of, negotiation for, or sale as sub-licensees to act individually as
of, an insurance, health maintenance consultants there under, and any such license
organization or annuity contract, other than as a issued to a corporation shall authorize only the
licensed insurance broker. officers and directors thereof named in such
license as sub-licensees to act individually as
consultants there under.
Agent 2101(k) - -insurance producer
means an insurance agent, insurance broker,
reinsurance intermediary, excess lines broker, or Adjuster 2101(g) - -The Superintendent
any other person required to be licensed under may, in his discretion require an applicant for a
license under this section to present evidence, in
the insurance laws of this state to sell, solicit or
negotiate insurance. such form as he prescribes, that such applicant
The applicant must be at least 18 years of age at has been employed, for a period which he deems
the time of license issuance. reasonable, by an insurer, an independent
An examination is required for each applicant, adjuster or a public adjuster, in the performance
except where noted for applicants with a change of duties which in his opinion would provide the
in residency moving to New York (see code 2103 applicant with a satisfactory preliminary training
below). 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
Brokers 2101(c) - -a licensed insurance money, commission or any other thing of value,
representative who does not represent a specific acts in this state on behalf of an insurer in the
insurance company, but places business among work of investigating and adjusting claims arising
various companies. Legally, the broker is usually under insurance contracts issued by such insurer
regarded as a representative of the insured and who performs such duties required by such
rather than the insuring company. 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.
Brokers 2101(h) - -any licensed attorney at
law of this state.
Adjuster 2108 - -Adjusters will be licensed
as either independent adjusters, or as public
adjusters. The Superintendent may prescribe the
Consultants (2107) - -The Superintendent
,NY Life, Accident, and Health Insurance Agent/Broker Exam Series
17-55 Questions and Answers
types of independent adjusters' licenses insurance examination will be required of any
according to the kind or kinds of insurance claims individual who applies for an insurance agent
which the licensee is to be authorized to license in this state who was previously licensed
investigate and adjust. No adjuster may act on for the same line or lines of authority in another
behalf of an insurer unless licensed as an state, provided, however, that the applicant's
independent adjuster, and no adjuster may act home state grants non-resident licenses to
on behalf of an insured unless licensed as a residents of this state on the same basis. Such
public adjuster. A public adjuster works on behalf individual shall also not be required to complete
of the insured for a fee. 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
Nonresident 2101(d) - -In this section, non- applicant's previous license and if the prior state
resident insurance agent means an individual issues a certification that, at the time of
who is a non-resident of this state and who is cancellation, the applicant was in good standing
licensed or authorized to act as an insurance in that state or the state's producer database
agent in the state in which he resides, or in which records, maintained by the National Association
he or the firm or association of which he is a of Insurance Commissioners, its affiliates or
member or employee, or the corporation, of subsidiaries indicate that the producer is or was
which he is an officer, director, or employee licensed in good standing for the line of authority
maintains an office as an insurance agent. 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
Nonresident 2101(e) - -In this section, prelicensing education or examination will be
"non-resident insurance broker", means an required of that person to obtain any line of
individual who is a non-resident of this state and authority previously held in the prior state except
who is licensed or authorized to act as an where the Superintendent determines otherwise
insurance broker in the state in which he resides, by regulation.
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 2136 - Reciprocity - -The
Superintendent shall waive any requirements for
a nonresident license applicant otherwise
applicable under this chapter if:
Nonresident 2103(g)(5) - -In the discretion (a) the applicant has a current and valid license
of the Superintendent, no written insurance in his or her home state and is in good standing
examination will be required of any individual in his or her home state;
seeking to be named as a licensee or sub- (b) the applicant has submitted a completed
licensee who is a non-resident insurance agent. 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
Nonresident 2103(g)(11) - -No written
, NY Life, Accident, and Health Insurance Agent/Broker Exam Series
17-55 Questions and Answers
(d) the applicant's home state awards agent or broker, where no administrator of his
nonresident insurance producer licenses to estate has been appointed and no executor has
residents of this state on the same basis as qualified under his duly probated will;
provided in this subsection. (c) to the surviving member or members of a firm
or association, which at the time of the death of a
member was such a licensed insurance agent or
licensed insurance broker; or
Business Entities 2101(p) - -A business (d) to an officer or director of a corporation upon
entity means a corporation, association, the death of the only officer or director who was
partnership, limited liability company, limited qualified as a sub-licensee or to the executor or
liability partnership or other legal entity. administrator of the estate of such deceased
officer or director;
(2) to any person who may be designated by a
Business Entities 2103(e) - -Before any person licensed pursuant to this chapter as an
original insurance agent's license is issued to a insurance agent, or an insurance broker, or both,
business entity, there must be on file in the office and who is absent because of service in any
of the Superintendent an application by the branch of the armed forces of the United States.
prospective licensee in such form or forms and
supplements, and containing information the (3) to the next of kin of a person who has become
Superintendent prescribes and for each business totally disabled and prevented from pursuing any
entity, the sub-licensee or sub-licensees named of the duties of his or her occupation, and who at
in the application must be designated the commencement of his or her disability the
responsible for the business entity's compliance license or licenses may be issued for a term not
with the insurance laws, rules and regulations of exceeding 90 days from the death of such
this state. additional term or terms of 90 days each, not
exceeding in the aggregate 15 months.
The Superintendent may issue renewal licenses
Temporary License (2109; Regs. 9, 18, 29, Part for an additional term or terms of 90 days each
20.1) - -A temporary license may be issued exceeding the a
in the case of death, service in armed forces or
disability. The Superintendent may issue a
temporary insurance agent's or insurance
broker's license, or both, without requiring the Renewal (2103(j); Reg. 5, Part 21.2) - -All
applicant to pass a written insurance examination individual insurance agent licenses must be
or to satisfy certain requirements except as to renewed every two years. Individual licenses are
age in the following cases: issued with an expiration date determined by the
date of birth:
(1) In the event of the death of a person who at
the time of his death was a licensed accident and The license of an agent born in an even
health insurance agent; numbered year will expire on the agent's birthday
(a) to the executor or administrator of the estate in an even numbered year.
of such deceased agent or broker;
(b) to a surviving next of kin of such deceased The license of an agent born in an odd numbered
17-55 Questions and Answers
Process 2103 (d-i) - -1. The person's activities are limited to providing
Superintendent may issue a license to any technical advice and assistance to licensed
person, firm or corporation who has complied insurance producers and do not include the sale,
with the requirements of the Insurance Code, solicitation or negotiation of insurance.
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 Home State (2101(l)) - -Home state means
the time of issuance of such license. The person the District of Columbia or any state or territory of
must submit to and pass a written examination the United States in which an insurance producer
required by the Superintendent. maintains his, her or its principal place of
residence or principal place of business and is
licensed to act as an insurance producer.
Producer Definition (2101(k)) - -An
insurance producer means an insurance agent,
insurance broker, reinsurance intermediary, Negotiate (2101(m)) - -Negotiate or
excess lines broker, or any other person required negotiation means the act of conferring directly
to be licensed under the insurance laws of this with or offering advice directly to a purchaser or
state to sell, solicit or negotiate insurance. 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
Who Should be Licensed (2101(k)(1)) - -1. either sells insurance or obtains insurance from
The term "insurance producer" does not include: licensed insurers, fraternal benefit societies or
An officer, director or employee of a licensed health maintenance organizations for purchasers.
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 Sell (2101(n)) - -Sell or sale means to
commission on policies written or sold to insure exchange a contract of insurance by any means,
risks residing, located or to be performed in this for money or its equivalent, on behalf of a
state and: licensed insurer, fraternal benefit society or
(a) the officer, director or employee's activities health maintenance organization.
are executive, administrative, managerial, clerical
or a combination of these, and are only indirectly
related to the sale, solicitation or negotiation of
insurance; Solicit (2101(o)) - - -Solicit or solicitation
(b) the officer, director or employee's function means attempting to sell insurance or asking or
relates to underwriting, loss control, Inspection or urging a person to apply for a particular kind of
the processing, adjusting, investigating or settling insurance from a particular licensed insurer,
of a claim on a contract of Insurance; or (c) the fraternal benefit society or health maintenance
officer, director or employee is acting in the organization.
capacity of a special agent or agency supervisor
assisting licensed insurance producers where the
,NY Life, Accident, and Health Insurance Agent/Broker Exam Series
17-55 Questions and Answers
may issue an insurance consultant's license to
Agent 2101(a) - -In this section, insurance any person, firm, association or corporation who
agent means any authorized or acknowledged or which has complied with the requirements of
agent of an insurer, fraternal benefit society or this chapter with respect to either: life insurance,
health maintenance organization issued a meaning all of those kinds of insurance
certificate of authority pursuant to the public authorized. Any such license issued to a firm or
health law, and any sub-agent or other association shall authorize only the members of
representative of such an agent, who acts as such firm or association named in such license
such in the solicitation of, negotiation for, or sale as sub-licensees to act individually as
of, an insurance, health maintenance consultants there under, and any such license
organization or annuity contract, other than as a issued to a corporation shall authorize only the
licensed insurance broker. officers and directors thereof named in such
license as sub-licensees to act individually as
consultants there under.
Agent 2101(k) - -insurance producer
means an insurance agent, insurance broker,
reinsurance intermediary, excess lines broker, or Adjuster 2101(g) - -The Superintendent
any other person required to be licensed under may, in his discretion require an applicant for a
license under this section to present evidence, in
the insurance laws of this state to sell, solicit or
negotiate insurance. such form as he prescribes, that such applicant
The applicant must be at least 18 years of age at has been employed, for a period which he deems
the time of license issuance. reasonable, by an insurer, an independent
An examination is required for each applicant, adjuster or a public adjuster, in the performance
except where noted for applicants with a change of duties which in his opinion would provide the
in residency moving to New York (see code 2103 applicant with a satisfactory preliminary training
below). 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
Brokers 2101(c) - -a licensed insurance money, commission or any other thing of value,
representative who does not represent a specific acts in this state on behalf of an insurer in the
insurance company, but places business among work of investigating and adjusting claims arising
various companies. Legally, the broker is usually under insurance contracts issued by such insurer
regarded as a representative of the insured and who performs such duties required by such
rather than the insuring company. 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.
Brokers 2101(h) - -any licensed attorney at
law of this state.
Adjuster 2108 - -Adjusters will be licensed
as either independent adjusters, or as public
adjusters. The Superintendent may prescribe the
Consultants (2107) - -The Superintendent
,NY Life, Accident, and Health Insurance Agent/Broker Exam Series
17-55 Questions and Answers
types of independent adjusters' licenses insurance examination will be required of any
according to the kind or kinds of insurance claims individual who applies for an insurance agent
which the licensee is to be authorized to license in this state who was previously licensed
investigate and adjust. No adjuster may act on for the same line or lines of authority in another
behalf of an insurer unless licensed as an state, provided, however, that the applicant's
independent adjuster, and no adjuster may act home state grants non-resident licenses to
on behalf of an insured unless licensed as a residents of this state on the same basis. Such
public adjuster. A public adjuster works on behalf individual shall also not be required to complete
of the insured for a fee. 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
Nonresident 2101(d) - -In this section, non- applicant's previous license and if the prior state
resident insurance agent means an individual issues a certification that, at the time of
who is a non-resident of this state and who is cancellation, the applicant was in good standing
licensed or authorized to act as an insurance in that state or the state's producer database
agent in the state in which he resides, or in which records, maintained by the National Association
he or the firm or association of which he is a of Insurance Commissioners, its affiliates or
member or employee, or the corporation, of subsidiaries indicate that the producer is or was
which he is an officer, director, or employee licensed in good standing for the line of authority
maintains an office as an insurance agent. 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
Nonresident 2101(e) - -In this section, prelicensing education or examination will be
"non-resident insurance broker", means an required of that person to obtain any line of
individual who is a non-resident of this state and authority previously held in the prior state except
who is licensed or authorized to act as an where the Superintendent determines otherwise
insurance broker in the state in which he resides, by regulation.
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 2136 - Reciprocity - -The
Superintendent shall waive any requirements for
a nonresident license applicant otherwise
applicable under this chapter if:
Nonresident 2103(g)(5) - -In the discretion (a) the applicant has a current and valid license
of the Superintendent, no written insurance in his or her home state and is in good standing
examination will be required of any individual in his or her home state;
seeking to be named as a licensee or sub- (b) the applicant has submitted a completed
licensee who is a non-resident insurance agent. 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
Nonresident 2103(g)(11) - -No written
, NY Life, Accident, and Health Insurance Agent/Broker Exam Series
17-55 Questions and Answers
(d) the applicant's home state awards agent or broker, where no administrator of his
nonresident insurance producer licenses to estate has been appointed and no executor has
residents of this state on the same basis as qualified under his duly probated will;
provided in this subsection. (c) to the surviving member or members of a firm
or association, which at the time of the death of a
member was such a licensed insurance agent or
licensed insurance broker; or
Business Entities 2101(p) - -A business (d) to an officer or director of a corporation upon
entity means a corporation, association, the death of the only officer or director who was
partnership, limited liability company, limited qualified as a sub-licensee or to the executor or
liability partnership or other legal entity. administrator of the estate of such deceased
officer or director;
(2) to any person who may be designated by a
Business Entities 2103(e) - -Before any person licensed pursuant to this chapter as an
original insurance agent's license is issued to a insurance agent, or an insurance broker, or both,
business entity, there must be on file in the office and who is absent because of service in any
of the Superintendent an application by the branch of the armed forces of the United States.
prospective licensee in such form or forms and
supplements, and containing information the (3) to the next of kin of a person who has become
Superintendent prescribes and for each business totally disabled and prevented from pursuing any
entity, the sub-licensee or sub-licensees named of the duties of his or her occupation, and who at
in the application must be designated the commencement of his or her disability the
responsible for the business entity's compliance license or licenses may be issued for a term not
with the insurance laws, rules and regulations of exceeding 90 days from the death of such
this state. additional term or terms of 90 days each, not
exceeding in the aggregate 15 months.
The Superintendent may issue renewal licenses
Temporary License (2109; Regs. 9, 18, 29, Part for an additional term or terms of 90 days each
20.1) - -A temporary license may be issued exceeding the a
in the case of death, service in armed forces or
disability. The Superintendent may issue a
temporary insurance agent's or insurance
broker's license, or both, without requiring the Renewal (2103(j); Reg. 5, Part 21.2) - -All
applicant to pass a written insurance examination individual insurance agent licenses must be
or to satisfy certain requirements except as to renewed every two years. Individual licenses are
age in the following cases: issued with an expiration date determined by the
date of birth:
(1) In the event of the death of a person who at
the time of his death was a licensed accident and The license of an agent born in an even
health insurance agent; numbered year will expire on the agent's birthday
(a) to the executor or administrator of the estate in an even numbered year.
of such deceased agent or broker;
(b) to a surviving next of kin of such deceased The license of an agent born in an odd numbered
