COLORADO LIFE INSURANCE FINAL EXAM () QUESTIONS AND ANSWERS 100% COMPLETE PASS
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Course
COLORADO LIFE INSURANCE
Institution
COLORADO LIFE INSURANCE
COLORADO LIFE INSURANCE FINAL EXAM () QUESTIONS AND ANSWERS 100% COMPLETE PASS
QUESTION 1
The life insurance rider that pays the face amount plus the total premiums paid into the policy is
known as:
COLORADO LIFE INSURANCE FINAL EXAM (2024-2025)
QUESTIONS AND ANSWERS 100% COMPLETE PASS
QUESTION 1
The life insurance rider that pays the face amount plus the total premiums paid into the policy is
known as:
Return of premium
QUESTION 2
What kind of company can the commissioner file a complaint to enjoin and restrain from continuing
violations of the insurance regulations of colorado?
Foreign or alien
QUESTION 3
Does a loan on the cash value of a life insurance policy accrue interest, and if so, how is the interest
handled?
Yes, the interest can be paid annually, or added to the loan.
QUESTION 4
What approach calculates the amount of money a family needs immediately upon the death of the
insured to pay for their expenses and basic necessities?
Needs
QUESTION 5
A decreasing term life policy would be the most appropriate for:
COLORADO LIFE INSURANCE FINAL EXAM
, A 41 year old lawyer who wants a policy to pay his mortgage if he dies (decreasing term life generally
is used as mortgage insurance)
QUESTION 6
A producer or business entity shall report to the commissioner any administrative action taken
against the producer within:
30 days
QUESTION 7
Richard is thinking about transferring some of the ownership rights of his policy to his brother randy.
What term is used for this type of transfer?
Assignment
QUESTION 8
Jeff has limited financial resources, but finds himself in a position where he needs a good deal of
protection. A __________would probably best suit his needs at this time.
Term policy
QUESTION 9
On november 5, zoe fills out an application for a life policy. On november 6, the agent accepts the
premium for the policy. The policy is delivered on november 7. Which date does the free look period
start?
November 7
QUESTION 10
Insurance producers must complete how many hours of continuing education each licensing period?
24 hours
QUESTION 11
Jacob, james and jonathan are triplets, and all applied for the same type of insurance coverage at the
same time. For james and jonathan the rates were the same. Jacob's rate was quite a bit higher. What
is the most likely reason for this difference?
COLORADO LIFE INSURANCE FINAL EXAM
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