State RegulationsNY specificDifficulty 1/5
The Department of Financial Services institutes proceedings against an agent's license. Before a final order of revocation issues, the licensee is entitled to:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under N.Y. Ins. Law §§2405 and 2406 and Financial Services Law §305, licensees facing adverse action are entitled to fundamental due process - notice of the proceeding and a fair opportunity to be heard - before the Superintendent may revoke or suspend a license. A revocation entered without notice and an opportunity to respond would not survive review.
Why the other options are wrong
- A) The matter begins as an administrative proceeding, not a jury trial; court review comes only after administrative remedies are pursued.
- B) Due process applies: the Superintendent must provide notice and a hearing before final adverse action on a license.
- C) Fee refunds play no part in disciplinary process; the licensee's protections are notice and the opportunity to be heard.
Memory hook
No notice, no hearing, no revocation - due process first.