Connecticut State Insurance Laws Exam Questions and Answers

Connecticut State Insurance Laws Exam Questions and Answers Licensing - Resident Producer - Correct Answer ️️ -18 Years old Min Age Financially responsible ; Good moral character 80 HRS required for P&C and Life / Accident & Health of pre licensing study Must pass written exam in lines of business seeking license Biennial CE Requirememt 24 Hours All licenses expire on January 31st 40 Hrs for other lines Non Resident Producer - Correct Answer ️️ -Can be exempt from pre licensing study or exam requirements if holder of valid license in designated lines in home state if Reciprocal state with CT a letter of Certification less than 90 days old all that is required Temporary Producer License - Correct Answer ️️ -Issued for duration of 180 days or less Surviving spouse / court appointed representative of insurance producer who dies , or is physically or mentally disabled Designee of a producer entering active military service Employee of business licensed as a producer upon death or disability of individual designated on business entity application or license Commissioner Waiver of Pre licensing requirements - Correct Answer ️️ -Applicant for temporary license Applicant for Limited license Application from a resident producer who held license for same business lines in past 12 months A non resident agent holding a valid license in his / her state Maintenance & Duration of License - Correct Answer ️️ -** Renewal - All Producer licenses expire on January 31st of each even numbered year ***Change in Name or Address Must be notified to commisioner within 30 days **Assumed Names Producer doing business under an assumed name must notify commisioner prior to using the assumed name **Reporting of Actions Must be done by producer within 30 days to the Commissioner after disposition of the matter Licensing Definitions - Producer Insurance Agent Certified Insurance Consultant Public Adjuster Insurer - Correct Answer ️️ -Represent Insured; solicits insurance on insureds behalf w.o. a contract with insurer Holds producer license and has a direct appiontment from a licensed insurer to solicit insurance on their behalf. Offers advice for a fee concerning benefits of insurance policies Must provi