How Much Does the New York Insurance Exam Cost?
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Quick Answer
- New York insurance licensing exams cost $33 per attempt through PSI, making them among the most affordable in the country.
- You need a 70% passing score, there is no limit on retakes, and you can reschedule as soon as 24 hours after a failed attempt.
- Your pre-licensing education certificate in New York never expires, giving you flexibility to take the exam on your own timeline.
The New York State Department of Financial Services (DFS) oversees insurance licensing, and PSI Services administers all state insurance exams. Whether you are taking your test at a physical PSI testing center or remotely through PSI Bridge, the process is straightforward once you understand the costs involved. Here is everything you need to know about exam fees, retake rules, and total licensing costs in New York.
What Is the Fee for Each New York Insurance Exam?
Every New York insurance licensing exam costs $33 per attempt. You pay this fee when you schedule your appointment through the PSI websiteNydfs Test Takers or by calling (855) 579-4637. Payment can be made by credit card, debit card, voucher, or electronic check at the time of reservation.
You have the option to test in person at a PSI testing center or remotely through PSI Bridge. Remote testing requires a compatible computer with a Google Chrome browser, a webcam, and a microphone. If you need to cancel or reschedule, you must contact PSI at least 48 hours before your appointment or forfeit the fee. A voicemail or email does not count as a valid cancellation.
What Does the Full New York Licensing Process Cost?
New York keeps licensing fees relatively low compared to many other states. Here is a breakdown of what to budget for your insurance careerPre License Tips Becoming A Successful Insurance Agent Resources launch.
| Fee Type | Amount | Paid To |
|---|---|---|
| Exam fee (per attempt) | $33 | PSI Services |
| License application (full period) | $40-$80 | DFS Secure Portal |
| Pre-licensing education | Varies by provider | Approved education provider |
The license application fee depends on how much time remains in the licensing period. A full fee of $80 applies when the license covers more than one year, while a half fee of $40 applies for one year or less. All licensing fees are nonrefundable. You must submit your completed application within two years of passing the exam.
How Does the New York Retake Policy Work?
New York places no limit on the number of retake attempts. After a failed exam, you must wait until the next business day to schedule a new appointment. Each retake carries the full $33 fee.
After your exam, you immediately receive a printed score report showing your overall percentage and whether you passed or failed. If you did not pass, the report includes diagnostic information indicating your performance in each content area. Use this feedback to target your studyPre License How To Study Insurance Licensing Exam Resources efforts for the specific sections where you struggled.
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What Makes New York Licensing Unique?
One major advantage for New York candidates is that your pre-licensing education certificate never expires. Unlike states where course completion certificates are valid for 90 days or 12 months, New York allows you to keep your education credential indefinitely. This gives career changers and busy professionals the flexibility to complete coursework at one pace and sit for the exam whenever they feel ready.
New York also requires different pre-licensing education hours depending on your line of authority. Life and Accident & Health courses each require a specific number of hours, and the state caps study time at a maximum of eight hours per calendar day. All exams are multiple-choice, covering both national insurance principles and New York-specific laws and regulations, with a passing score of 70%.
What Can Slow Down the Licensing Process in New York?
- Submitting your license application more than two years after passing the exam, which means your score is no longer valid
- Mismatched names between your PSI registration and your government-issued ID
- Attempting to cancel your exam via voicemail or email, which DFS and PSI do not accept
- Not completing all pre-licensing coursework requirements, including mandatory instructor correspondence and practice exams
- Failing to check your DFS application status, which can leave approval delays unnoticed
How Does New York Compare to Other States on Exam Costs?
At $33 per attempt, New York has one of the lowest insurance exam fees in the country. For comparison, Michigan charges $41, North Carolina charges $46, and South Carolina charges $59. New York's lower fee combined with unlimited retakes and a never-expiring education certificate makes it one of the more accessible statesPre License What Does Insurance Agent Do Resources for aspiring agents to enter the industry.
However, New York's continuing education requirements are among the more complex once you are licensed. Agents licensed in a single line generally need 15 hours every two years, while those with multiple lines need up to 30 hours. New York also prohibits repeating any CE course for credit, so plan your long-term developmentPre License Is Becoming A Licensed Property And Casualty Insurance Agent Worth It Resources strategically.
Get Started on Your New York Insurance License
With one of the lowest exam fees in the nation and unlimited retake opportunities, the biggest barrier to your New York insurance license is not cost but preparation. Aceable Insurance offers state-approved pre-licensing courses with practice exams, mobile-friendly access, and a learning experience built to help you pass on your first attempt. Start your New York pre-licensing course today.New York Pre License
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