Connecticut State Insurance Licensing Exam Questions Answered Correctly – Expert Verified | Latest Version 2024/2025

A business adjusting claims in Connecticut without a license is subject to what? - Fine of $2,000 and/or prison for 1 year Any person or corporation violating any provision of the insurance code for which no other penalty is provided will be fined no more than... - $15,000 Code Regulating Agents: Fiduciary - 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 Code Regulating Agents: Misrepresentation - an agent may not misrepresent, or falsely advertise terms, benefits or financial responsibilities they may not offer Code Regulating Agents: Rebating - 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 - 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