A New York examination in 2026 involves travel to a licensee out-of-state office. How are the examination travel expenses allocated?
Correct Answer
B) Travel costs are apportioned as the superintendent deems just
Traveling and subsistence expenses shall be charged against and paid by licensees, servicers or registrants in such proportions as the superintendent shall deem just and reasonable, and such proportionate charges shall be added to the assessment of the other expenses. Other choices: travel is the stated exception to the direct assessment rule; it is not absorbed; and no cap tied to other expenses appears. Source: N.Y. Banking Law § 596
Why This Is the Correct Answer
Traveling and subsistence expenses shall be charged against and paid by licensees, servicers or registrants in such proportions as the superintendent shall deem just and reasonable, and such proportionate charges shall be added to the assessment of the other expenses. Other choices: travel is the stated exception to the direct assessment rule; it is not absorbed; and no cap tied to other expenses appears. Source: N.Y. Banking Law § 596
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