Under New York Insurance Law § 2103, a person who wants to solicit, negotiate, or sell life insurance on behalf of an insurer in New York must first do which of the following?
A. Register as a corporation with the New York Secretary of State
B. Obtain a license issued by the Superintendent of Financial Services
C. File a surety bond directly with the insurer
D. Complete a background check conducted by the insurer only
Source: New York Insurance Law § 2103 — license required to act as an insurance agent in New York; https://www.nysenate.gov/legislation/laws/ISC/2103
Under New York Insurance Law § 2101, an "insurance agent" is best described as someone who:
A. Acts as the authorized representative of an insurer in soliciting, negotiating, or selling a policy
B. Acts on behalf of the insured in placing coverage for a fee
C. Adjusts claims exclusively for property and casualty insurers
D. Sells only variable annuity products registered with FINRA
Source: New York Insurance Law § 2101 — definition of "insurance agent"; https://www.nysenate.gov/legislation/laws/ISC/2101
Which of the following distinguishes an insurance broker from an insurance agent under New York Insurance Law § 2101?
A. A broker acts on behalf of the insured, while an agent acts on behalf of the insurer
B. A broker cannot receive compensation from an insurer
C. A broker is exempt from the prelicensing requirement
D. A broker may only place accident and health coverage
Source: New York Insurance Law § 2101 — definition of "insurance broker"; https://www.nysenate.gov/legislation/laws/ISC/2101
Under New York Insurance Law § 2101, a sub-agent who solicits life insurance applications on behalf of a licensed insurance agent is treated as:
A. An unlicensed representative exempt from Article 21
B. Falling within the statutory definition of "insurance agent"
C. A public adjuster under Article 21
D. A reinsurance intermediary
Source: New York Insurance Law § 2101 — definitions, sub-agents; https://www.nysenate.gov/legislation/laws/ISC/2101
To pass the written licensing examination required for a New York insurance agent license, an applicant must achieve an overall score of at least:
Source: New York Insurance Law § 2103 — examination requirement for insurance agent licensure; https://www.nysenate.gov/legislation/laws/ISC/2103
