NY Life, Accident, and Health Insurance
Agent/Broker Exam Series 17-55/ 199
Questions & Elaborations/ 2024-2025.
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
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,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.
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,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
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, (d) the applicant's home state awards nonresident insurance producer licenses to residents of
this state on the same basis as provided in this subsection.
Business Entities 2101(p) - Answer: A business entity means a corporation, association,
partnership, limited liability company, limited liability partnership or other legal entity.
Business Entities 2103(e) - Answer: Before any original insurance agent's license is issued to a
business entity, there must be on file in the office of the Superintendent an application by the
prospective licensee in such form or forms and supplements, and containing information the
Superintendent prescribes and for each business entity, the sub-licensee or sub-licensees
named in the application must be designated responsible for the business entity's compliance
with the insurance laws, rules and regulations of this state.
Temporary License (2109; Regs. 9, 18, 29, Part 20.1) - Answer: A temporary license may be
issued 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
applicant to pass a written insurance examination or to satisfy certain requirements except as to
age in the following cases:
(1) In the event of the death of a person who at the time of his death was a licensed accident
and health insurance agent;
(a) to the executor or administrator of the estate of such deceased agent or broker;
(b) to a surviving next of kin of such deceased agent or broker, where no administrator of his
estate has been appointed and no executor has qualified under his duly probated will;
(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
(d) to an officer or director of a corporation upon the death of the only officer or director who
was qualified as a sub-licensee or to the executor or administrator of the estate of such
deceased officer or director;
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