Introduction

Experior Assessments

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PDF 18-04.16 
Your Exam Content Outline

The following outline describes the content of one of the Connecticut insurance examinations. The outlines are the basis of the examinations. The examination will contain questions on the subjects contained in the outline. The percentages indicate the relative weights assigned to each part of the examination. For example, 10 percent means that 6 questions will be drawn from the section on a 60-question exam, 10 will be drawn on a 100-question exam and 15 will be drawn on a 150-question exam.

Connecticut Producer's Examination for Property/Casualty Insurance Series 18-04
150 questions - 2.5-hour time limit Effective October 1, 2019
1.0 Insurance Regulation 10%
1.1 Licensing Process (38a-702d, 702e, 769) Types of licensees (38a-702f(a), 769) Resident producers (38a-702d) Certified insurance consultants (38a-731­ 733, 786) Nonresident producers (38a-702g, 702n) Temporary (38a-702j) Maintenance and duration Renewal (38a-702f(b)(c), 784, 786(b)) Change in name or address (38a-702f(f), 771(a)) Reporting of actions (38a-702o, 771(b)) Assumed names (38a-702i) Continuing education requirements, exemptions and penalties (Reg 38a782a-2, 10, 12­17) Disciplinary actions Cease and desist order (38a817) Hearings (38a-16, 817, 818) Suspensions, revocations, refusal to issue or renew, fines (38a-2, 702k, 735, 774, 777, 817, 830)
1.2 State regulation Commissioner's general duties and powers (38a-8,10)
Company regulation Certificate of authority (38a-41) Capital and surplus requirement (38a72) Unfair claim settlement practices (38a-816)
Producer regulation

Controlled

business

(38a-782) Commissions

(38a-702l, 734) Acting

as an agent (38a-702m)

Representing an unauthorized insurer

(38a-275,

703,

714)

Failure to remit premiums

(38a-712) Unfair and prohibited

practices

Misrepresentation (38a-816(1),

(8)) False advertising (38a-

816(1), (2)) Defamation of

insurer (38a-816(3)) Boycott,

coercion and intimidation (38a-

816

(4))

False financial statements (38a-

816(5)) Failure to maintain

complaint record (38a-816(7))

Unfair discrimination (38a-

816(12), (13)) Rebating (38a-

816(9), 825)

Twisting (38a-826)

Examination of books and records

(38a-769(f)) Connecticut Insurance

Information and Privacy

Protection Act (38a-975­

999a)

1.3 Federal regulation

Fair Credit Reporting Act (15 USC 1681­

1681d)

Fraud and false statements (18 USC 1033,

1034)

2.0 General Insurance 9%
2.1 Concepts Risk management key terms Risk Exposur e Hazard Peril Loss Methods of handling risk

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Avoidance Retention Sharing Reduction Transfer Elements of insurable risks Adverse selection Law of large numbers Reinsurance 2.2 Insurers Types of insurers Stock companies Mutual companies Fraternal benefit societies Lloyd's associations Risk retention groups Private versus government insurers

Admitted versus nonadmitted insurers

Domestic, foreign and alien insurers

Financial status (independent rating

services) Marketing

(distribution)

systems

2.3 Producers and general rules of

agency

Insurer as principal

Producer/insurer relationship

Authority and powers of producers

Express

Implied

Apparent

2.4 Contracts

Elements of a legal contract

Offer and acceptance

Consideration

Competent parties

Legal purpose

Distinct characteristics of an insurance

contract

Contract of adhesion

Aleatory contract

Personal contract

Unilateral contract

Conditional contract

Legal interpretations affecting contracts

Ambiguities in a contract of adhesion

Reasonable expectations

Indemnity

Utmost good faith

Representations/misrepresentation

s Warranties

Concealment

Fraud

Waiver and estoppel

3.0 Property and Casualty Insurance Basics 13%

3.1 Principles and concepts Insurable interest Underwriting Function Loss ratio Rates Types Loss costs Components Hazards Physical Moral Morale Negligence Elements of a negligent act Defenses against negligence Damages Compensatory -- special versus general Punitive Absolute liability Strict liability
Vicarious liability Causes of loss (perils) Named perils versus special (open) perils Direct loss Consequential or indirect loss Blanket versus specific insurance Basic types of construction Loss valuation
Actual cash value Replacement cost Functional replacement cost Market value Agreed value Stated amount Valued policy 3.2 Policy structure Declarations Definitions Insuring agreement or clause Additional/supplementary coverage Conditions Exclusions Endorsements 3.3 Common policy provisions Insureds -- named, first named, additional Policy period Policy territory Cancellation and nonrenewal Deductibles Other insurance Nonconcurrency Primary and excess Pro rata Contribution by equal shares Limits of liability Per occurrence (accident) Per person Aggregate -- general versus products --
completed operations Split

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Combined single Restoration/nonreduction of limits Coinsurance Vacancy or unoccupancy Named insured provisions Duties after loss
Assignment Abandonment
Insurer provisions Liberalization
Subrogation Salvage Claim settlement options Duty to defend Third-party provisions Standard mortgage clause
Loss payable clause No benefit to the Bailee 3.4 Connecticut laws, regulations and required provisions Connecticut Insurance Guaranty Association Act (38a-836­853) Cancellation and nonrenewal (38a-307, 308(e), 323, 324) Binders (38a-309, 322) Legal action against insurer (38a-321, 307) Concealment or fraud (38a-307) Appraisal (38a-307) Availability of insurance on real property regardless of location (Reg 38a-824-1­3) Connecticut Standard Fire Policy (38a307) Connecticut FAIR Plan (Reg 38a328-1­20) Federal Terrorism Insurance Program (15 USC 6701; Public Law 107­297, 109­144, 110­ 160)
4.0 Dwelling ('02) Policy 5%
4.1 Characteristics and purpose 4.2 Coverage forms -- Perils insured against
Basic Broad Special 4.3 Property coverages Coverage A -- Dwelling Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Fair rental value Coverage E -- Additional living expense Other coverages 4.4 General exclusions 4.5 Conditions 4.6 Selected endorsements

Special provisions -- Connecticut (DP 01 06) Automatic increase in insurance (DP 04 11) Dwelling under construction (DP 11 43) 4.7 Personal liability supplement
5.0 Homeowners ('11) Policy 14%
5.1 Coverage forms HO-2 through HO-6
5.2 Definitions 5.3 Section I -- Property
coverages Coverage A -- Dwelling Coverage B -- Other structures Coverage C -- Personal property Coverage D -- Loss of use Additional coverages 5.4 Section II -- Liability coverages Coverage E -- Personal liability Coverage F -- Medical payments to others Additional coverages 5.5 Perils insured against
5.6 Exclusions 5.7 Conditions 5.8 Selected endorsements
Special provisions -- Connecticut (HO 01 06) Permitted incidental occupancies --
residence premises (HO 04 42) Earthquake (HO 04 54) Scheduled personal property (HO 04 61) Limited fungi, wet or dry rot, or bacteria coverage
-- Connecticut (HO 04 74, HO 04 75, HO 04 76) Personal property replacement cost (HO 04 90) Home day care (HO 04 97) Home business -- Connecticut (HO 07 05) Business pursuits (HO 24 71) Watercraft (HO 24 75) Personal injury -- Connecticut (HO 24 79)
6.0 Auto Insurance 14%
6.1 Laws Connecticut Motor Vehicle Financial Responsibility Law Required limits of liability (RL 17114) Required proof of insurance (RL 14-112(b)) Connecticut Automobile Insurance Assigned Risk Plan (38a-329)

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Uninsured/underinsured motorist (38a336) Definitions Bodily injury UM/UIM reduction Required limits (Reg 38a-334­ 6(d)) Conversion coverage (38a336a)
Cancellation/nonrenewal Reasons (38a-342) Notice (38a-343, 344) Notice of eligibility in assigned risk plan (38a345)
Illegal declination, cancellation or nonrenewal (38a-358, 815, 816(9), 817(b))
Aftermarket parts regulation (38a355) Constructive total loss (38a353) Arbitration (Reg 38a-10-1­4) 6.2 Personal ('05) auto policy Definitions Liability coverage
Bodily injury and property damage Supplementary payments Exclusions Medical payments coverage Uninsured motorists coverage Coverage for damage to your auto Collision Other than collision Deductibles Transportation expenses Exclusions Duties after an accident or loss
General provisions Selected endorsements
Amendment of policy provisions -- Connecticut (PP 01 54)
Towing and labor costs (PP 03 03) Extended non-owned coverage -- vehicles
furnished or available for regular use (PP 03 06) Miscellaneous type vehicle (PP 03 23) Joint ownership coverage -- Connecticut (PP13 45)
6.3 Commercial auto ('10)
Commercial auto coverage forms Business auto Garage Business auto physical damage Truckers Motor carrier
Coverage form sections Covered

autos Liability coverage Garagekeepers coverage Physical damage coverage Exclusions Conditions Definitions Selected endorsements Connecticut changes (CA 01 07) Lessor -- additional insured and loss payee
(CA 20 01) Mobile equipment (CA 20 15) Auto medical payments coverage (CA 99 03) Drive other car coverage (CA 99 10) Individual named insured (CA 99 17) Commercial carrier regulations The Motor Carrier Act of 1980 Endorsement for motor carrier
policies of insurance for public liability (MCS-90)
7.0 Commercial Package Policy (CPP) 10%
7.1 Components of a commercial policy Common policy declarations Common policy conditions Interline endorsements One or more coverage parts 7.2 Commercial general
liability ('13) Commercial general liability coverage forms
Bodily injury and property damage liability Personal and advertising injury liability Medical payments Exclusions Supplementary payments Who is an insured Limits of insurance Conditions Definitions
Occurrence versus claims-made Claims-made features (Connecticut
minimum standards) (Reg 38a-327-1­6) Trigger Retroactive date Extended reporting periods Claim information
Premises and operations Products and completed operations Insured contract

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7.3 Commercial property ('12) Commercial property conditions form Coverage forms Building and personal property Condominium association Condominium commercial unit-owners Builders risk Business income Legal liability Extra expense Causes of loss forms Basic Broad Special Selected endorsements Ordinance or law coverage (CP 04 05) Spoilage coverage (CP 04 40) Peak season limit of insurance (CP 12 30) Value reporting form (CP 13 10)
7.4 Commercial crime ('06) General definitions Burglary Theft Robbery Crime coverage forms Commercial crime coverage forms (discovery/loss sustained) Government crime coverage forms (discovery/loss sustained) Coverages Employee theft Forgery or alteration Inside the premises -- theft of money and securities Inside the premises -- robbery or safe burglary of other property Outside the premises Computer fraud Funds transfer fraud Money orders and counterfeit money Other crime coverage Extortion -- commercial entities (CR 04 03)
7.5 Commercial inland marine Nationwide marine definition Commercial inland marine conditions form Inland marine coverage forms
Accounts receivable Bailee's customer Commercial articles Contractors equipment floater Electronic data processing Equipment dealers Installation floater Jewelers block Signs Valuable papers and records Transportation coverages

Common carrier cargo liability Motor truck cargo forms Transit coverage forms 7.6 Equipment breakdown ('13) Equipment breakdown protection coverage form (EB 00 20) Selected endorsement Actual cash value (EB 99 59) 7.7 Farm coverage Farm property coverage form ('03) Coverage A -- Dwellings Coverage B -- Other private structures Coverage C -- Household personal property Coverage D -- Loss of use Coverage E -- Scheduled farm
personal property Coverage F -- Unscheduled farm
personal property Coverage G -- Other farm structures Farm liability coverage form ('06) Coverage H -- Bodily injury and
property damage liability Coverage I -- Personal and advertising
injury liability Coverage J -- Medical payments Livestock coverage form Mobile agricultural machinery and equipment coverage form Causes of loss (basic, broad and special) Exclusions Additional coverages Limits of insurance Conditions Definitions
8.0 Businessowners ('13) Policy 9%
8.1 Characteristics and purpose 8.2 Businessowners Section IProperty
Coverage Exclusions Limits of insurance Deductibles Loss conditions General conditions Optional coverages
Definitions 8.3 Businessowners Section II -- Liability
Coverages Exclusions Who is an insured Limits

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of insurance General conditions Definitions 8.4 Businessowners Section III -- Common Policy
Condition 8.5 Selected endorsements
Hired auto and non-owned auto liability (BP 04 04) Protective safeguards (BP 04 30) Utility services -- direct damage (BP 04 56) Utility services -- time element (BP 04 57)
9.0 Workers Compensation Insurance 10%
9.1 Workers compensation laws Types of laws Monopolistic versus competitive Compulsory versus elective Connecticut Workers Compensation Law (Title 31 Chapter 568) Exclusive remedy (RL 31-284(a), 293a) Employment covered (required, voluntary) (RL 31-275(9), (10)) Covered injuries (RL 31-275(1), (16), 284(a), 294c, 295) Occupational disease (RL 31-275(15)) Benefits provided (RL 31-275(12), 283a, 295, 306, 306b, 307, 308, 308a) Second injury fund (RL 31-349, 350, 352355b) Federal workers compensation laws Federal Employers Liability Act (FELA) (45 USC 51­60) U.S. Longshore and Harbor Workers Compensation Act (33 USC 904) The Jones Act (46 USC 688)
9.2 Workers compensation and employers liability insurance policy
General section Part One -- Workers compensation insurance Part Two -- Employers liability insurance Part Three -- Other states insurance Part Four -- Your duties if injury occurs Part Five -- Premium Part Six -- Conditions Selected endorsements

Voluntary compensation 9.3 Premium computation
Job classification -- payroll and rates Experience modification factor Premium discounts Participation (dividend) plans 9.4 Other sources of coverage
Connecticut Workers Compensation Insurance Plan Self-insured employers (RL 31-285, 286) Employers' mutual insurance associations (RL 31-328­339)
10.0 Other Coverages and Options 6%
10.1 Umbrella/excess liability policies Personal (DL 98 01) Commercial (CU 00 01)
10.2 Specialty liability insurance Professional liability Errors and omissions Directors and officers liability Fiduciary liability Liquor liability Employment practices liability
10.3 Surplus lines Definitions and markets Licensing requirements Exportable list Affidavits
10.4 Surety bonds Principal, obligee, surety Contract bonds License and permit bonds Judicial bonds
10.5 National Flood Insurance Program "Write your own" versus government Eligibility Coverage Limits Deductibles
10.6 Other policies Boatowners Difference in conditions

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