NY Life, Accident, and Health Insurance
Agent/Broker Exam Series 17-55| 200
QUESTIONS| GRADED A
Process 2103 (d-i) - answer1. The Superintendent may
... [Show More] 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)) - answerAn 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)) - answer1. 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)) - answerHome 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)) - answerNegotiate or negotiation means the act of conferring directly with or [Show Less]