State RegulationsNY specificDifficulty 1/5
In New York's life settlement licensing process, an applicant for a provider license must submit:
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under N.Y. Ins. Law §7803(a), the provider license application process includes submitting fingerprints, which feed a criminal history background check; §2137d(d)(2) likewise provides for fingerprinting in connection with license applicants. This lets the Department of Financial Services screen the people entering a business that handles policy owners' sensitive information and large sums of money. The other listed items are not the fingerprint-based screening requirement.
Why the other options are wrong
- A) A medical exam relates to underwriting insureds' health — it is not part of a provider applicant's licensing file.
- B) Reference letters from insurers are not a substitute for the fingerprint-based background check the process requires.
- D) Licensing examinations test insurance producers; the provider applicant's statutory screening requirement is fingerprinting, not a written exam.
Memory hook
Prints before policies: provider applicants trade fingerprints for a criminal background check.