New York Property & Casualty Insurance License Exam — All Questions
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2 questions
New York Licensing & CE
Before a licensed New York producer may transact business for a specific insurer, what must occur?
- a.Nothing further once the license is issued
- b.The insurer must appoint the producer, with the appointment filed with the Department of Financial Services✓
- c.The producer must post a bond with the state comptroller
- d.The producer must become a resident of the insurer's home state
A license lets a person act as a producer, but to represent a specific insurer that company must appoint the producer, with the appointment on file with the New York DFS. A producer may hold appointments from several insurers at the same time.
New York Licensing & CE
Which statement best describes continuing education for a New York resident P&C producer?
- a.CE is never required
- b.CE is required only for the first renewal
- c.State-approved continuing education, including an ethics component, is required each renewal cycle✓
- d.CE can be met only by retaking the licensing exam
Following the NAIC model, New York requires resident producers to complete approved continuing education each renewal cycle, including ethics. The exact hour totals are set by the Department of Financial Services and should be verified before renewal.