Updated: Jun 02, 2026
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1. Sue Ellen is the sister of a licensed New York insurance producer, Frank Gillespie. Frank was recently killed in a car accident and Sue Ellen has been issued a temporary license to run Frank ' s agency. For what period of time is the initial temporary license valid?
A) 1 year.
B) 3 months.
C) 6 months.
D) 2 years.
2. Which statement is NOT a characteristic of a Group Life Insurance Plan?
A) Individual underwriting.
B) A master contract.
C) Certificate of Insurance.
D) Probationary periods.
3. Which premium payment mode typically results in the lowest overall cost for a life insurance policy?
A) Quarterly
B) Semi-Annually
C) Monthly
D) Annually
4. Clark will be doing business as an agent. When MUST he be appointed by the insurer?
A) Within 20 days after commissions have been paid.
B) At the time the license application is submitted.
C) Within 15 days of signing the agency contract.
D) Within 15 days of submitting his license application.
5. Which of the following producers, who have been licensed for a full biennial period, MUST complete continuing education requirements as a condition of renewing a license in New York?
A) Independent adjusters
B) Travel accident agents
C) Personal Lines agents
D) Baggage agents
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: C | Question # 5 Answer: C |
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