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CT INSURANCE EXAM
Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -49 Questions and Answers
-Format: Multiple-choice / Flashcard
Question 1: Commercial Insurance:
__ days in advance for cancellation, except for the following:
Nonpayment of premium Fraud or material misrepresentation Reckless acts or criminal conviction that increases the hazards insured against Adverse actions by the Commissioner
Answer:
60 days Question 2: Maximum for per-violation fine for knowingly committing an unfair act
Answer:
$25,000
Question 3: Timeframe to report administrative actions or criminal prosecution
Answer:
30 days
Question 4: Maximum aggregate fine for knowingly committing an unfair act
Answer:
$250,000
Question 5: __ days' written notice is required if an insurer is non renewing an automobile policy.
Answer:
60 days
Question 6: __ hours must be applicable to each line of authority
Answer:
- hours
Question 7: Penalty for making false advertisements or false statements about financial information - First offense and Subsequent offenses
Answer:
$10,000 and $20,000 Question 8: Action may be taken against a liability insurer if judgements are not paid within __ days.
Answer:
30 days Question 9: Disclosure authorization forms for property and casualty insurance are valid up to _ year(s)
Answer:
- year
Question 10: Maximum aggregate fine for committing an unfair act
Answer:
$50,000
Question 11: Insurers must provide __ days' written notice of for cancellation due to nonpayment of automobile insurance.
Answer:
10 days
Question 12: An insurer must act within __ business days if an individual requests correction, amendment, or deletion of information.
Answer:
30 business days
Question 13: Producers license renew every _ years
Answer:
- years
Question 14: The minimum down payment for a policy is
Answer:
25% Question 15: For negligent privacy violations, the Commissioner may order a penalty of: up to __ for each violation and up to __ aggregate
Answer:
$2,000 for each violation $20,00 aggregate Question 16: For intentional privacy violations, the Commissioner may order a penalty of: up to __ for each violation and up to __ aggregate
Answer:
$20,000 for each violation $100,00 aggregate Question 17: If the producer is not eligible for appointment, the Commissioner must notify the insurer within __ days.
Answer:
- days
Question 18: Licensees must complete __ hours of pre-licensing education per line.
Answer:
40 hours Question 19: __ hours must be on ethics and state insurance laws and regulations
Answer:
- hours
Question 20: Continuing education credits required every two years
Answer:
24 hours Question 21: __ days' written notice of cancellation of auto insurance is required if it is the first premium.
Answer:
15 days Question 22: Disclosure authorization forms for life, health, or disability insurance are valid up to __ months
Answer:
30 months Question 23: Financial responsibility minimum liability limits for automobile insurance
Answer:
$25,000/$50,000/$25,000
Question 24: Penalty for violation of Privacy Cease and Desist Order: Up to __ for each violation and up to __ if the Commissioner finds that violations have occurred with such frequency as to indicate a general business practice.
Answer:
$20,000 each violation and $100,000
Question 25: Maximum fine for violating a cease and desist order
Answer:
$50,000
Question 26: __ days' written notice of automobile insurance cancellation must be provided for all other cancellations
Answer:
45 days
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