State RegulationsNY specificDifficulty 2/5
After notice is served, a New York licensing hearing before the Department of Financial Services proceeds in which way?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under N.Y. Ins. Law §§2405 and 2406 and Financial Services Law §305, DFS hearings follow an administrative format: the Superintendent or a designated hearing officer presides, and the licensee may appear, testify, present evidence, and be represented. The process exists so that discipline rests on a record developed in a fair hearing, not on one-sided allegations.
Why the other options are wrong
- B) A written-only process is not the format; the licensee is entitled to appear and be heard at the hearing.
- C) No private party decides licensing outcomes; the Superintendent or designee decides after the hearing on the record.
- D) The licensee is a participant, not an afterthought - a secret hearing excluding the licensee would deny the right to be heard.
Memory hook
Superintendent (or designee) presides; licensee participates - that's the hearing recipe.