CT SEPTIC LICENSE ACTUAL EXAM PAPER
2026 QUESTIONS WITH ANSWERS GRADED
A+
◉Types of Insurance: Stock . Answer: company which is owned by its
stockholders or shareholders; they share in profits and losses of the
company
◉Types of Insurance: Mutual . Answer: company which is owned by its
policyholders; they share in profits and have the right to vote on
company elections
◉Types of Insurance: Reciprocal . Answer: company in which members
share in each others losses and are managed by the attorney-in-fact,
which is responsible for company business. (usually found with
municipalities which is a political unit, such as a city, town, or village,
incorporated for local self=government)
◉Types of Insurance: Lloyds Association . Answer: a group of
individuals who insure unique interest with their own money
, ◉Types of Insurance: Residual Marketing System . Answer: state
funded insurance; Federal Government provides coverage for flood, war,
nuclear and crops, not normally available from private insurers
◉Code Regulating Agents: Misrepresentation . Answer: an agent may
not misrepresent, or falsely advertise terms, benefits or financial
responsibilities they may not offer
◉Code Regulating Agents: Rebating . Answer: giving or offering a
benefit to an applicant in return for the applicants purchasing of a policy.
(cash, gifts, securities, commissions)
◉Code Regulating Agents: Twisting . Answer: a form of
misrepresenting where an agent convinces an applicant to cancel their
existing policy and state a new one with the agent, and it does not
benefit the applicant
◉Code Regulating Agents: Unfair Discrimination . Answer: insurer
cannot give higher or lower rates to 1 of 2 identical individuals. Insurers
cannot accept bribes from a client in return for lower premiums
◉Code Regulating Agents: Fiduciary . Answer: a person who has a
special relationship of trust to another person (agent & policyholder). An
agent has a duty to clients regarding the handling of premiums
2026 QUESTIONS WITH ANSWERS GRADED
A+
◉Types of Insurance: Stock . Answer: company which is owned by its
stockholders or shareholders; they share in profits and losses of the
company
◉Types of Insurance: Mutual . Answer: company which is owned by its
policyholders; they share in profits and have the right to vote on
company elections
◉Types of Insurance: Reciprocal . Answer: company in which members
share in each others losses and are managed by the attorney-in-fact,
which is responsible for company business. (usually found with
municipalities which is a political unit, such as a city, town, or village,
incorporated for local self=government)
◉Types of Insurance: Lloyds Association . Answer: a group of
individuals who insure unique interest with their own money
, ◉Types of Insurance: Residual Marketing System . Answer: state
funded insurance; Federal Government provides coverage for flood, war,
nuclear and crops, not normally available from private insurers
◉Code Regulating Agents: Misrepresentation . Answer: an agent may
not misrepresent, or falsely advertise terms, benefits or financial
responsibilities they may not offer
◉Code Regulating Agents: Rebating . Answer: giving or offering a
benefit to an applicant in return for the applicants purchasing of a policy.
(cash, gifts, securities, commissions)
◉Code Regulating Agents: Twisting . Answer: a form of
misrepresenting where an agent convinces an applicant to cancel their
existing policy and state a new one with the agent, and it does not
benefit the applicant
◉Code Regulating Agents: Unfair Discrimination . Answer: insurer
cannot give higher or lower rates to 1 of 2 identical individuals. Insurers
cannot accept bribes from a client in return for lower premiums
◉Code Regulating Agents: Fiduciary . Answer: a person who has a
special relationship of trust to another person (agent & policyholder). An
agent has a duty to clients regarding the handling of premiums
