Exam (elaborations)
COLORADO LIFE INSURANCE FINAL EXAM
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COLORADO LIFE INSURANCE FINAL EXAM
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COLORADO LIFE INSURANCE FINALEXAM
Return,of,premium,-,ans--
The,life,insurance,rider,that,pays,the,face,amount,plus,the,total,premiums,paid,into,the,polic
y,is,known,as:
Foreign,or,alien,-,ans--Wha,Return,of,premium,-,ans--
The,life,insurance,rider,that,pays,the,face,amount,plus,the,total,premiums,paid,into,the,polic
y,is,known,as:
Foreign,or,alien,-,ans--
What,kind,of,company,can,the,Commissioner,file,a,complaint,to,enjoin,and,restrain,from,co
ntinuing,violations,of,the,insurance,regulations,of,Colorado?
Yes,,the,interest,can,be,paid,annually,,or,added,to,the,loan.,-,ans--
Does,a,loan,on,the,cash,value,of,a,life,insurance,policy,accrue,interest,,and,if,so,,how,is,the,i
nterest,handled?
Needs,-,ans--
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?
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),-,ans--
A,decreasing,term,life,policy,would,be,the,most,appropriate,for:
30,days,-,ans--
A,producer,or,business,entity,shall,report,to,the,Commissioner,any,administrative,action,ta
ken,against,the,producer,within:
Assignment,-,ans--
Richard,is,thinking,about,transferring,some,of,the,ownership,rights,of,his,policy,to,his,brothe
r,Randy.,What,term,is,used,for,this,type,of,transfer?
Term,policy,-,ans--
Jeff,has,limited,financial,resources,,but,finds,himself,in,a,position,where,he,needs,a,good,de
al,of,protection.,A,__________would,probably,best,suit,his,needs,at,this,time.
November,7,-,ans--
On,November,5,,Zoe,fills,out,an,application,for,a,life,policy.,On,November,6,,the,agent,acce
, pts,the,premium,for,the,policy.,The,policy,is,delivered,on,November,7.,Which,date,does,the,
Free,Look,period,start?
24,hours,-,ans--
Insurance,producers,must,complete,how,many,hours,of,continuing,education,each,licensin
g,period?
Risk,classification,-,ans--
Jacob,,James,and,Jonathan,are,triplets,,and,all,applied,for,the,same,type,of,insurance,cove
rage,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?
Variable,annuity,-,ans--If,the,cash,values,of,an,annuity,are,invested,in,securities,,it,is,a:
Defamation,-,ans--
If,an,agent,were,to,publish,literature,that,is,false,or,maliciously,critical,of,another,insurer,cal
culated,to,injure,a,person,engaged,in,the,business,of,insurance,,the,agent,would,be,commit
ting:
Other,agents,-,ans--An,agent,has,a,fiduciary,responsibility,to,all,the,following,,EXCEPT:
Cash,surrender,-,ans--
Alex's,life,policy,lapsed,,which,Nonforfeiture,option,would,the,insurer,send,him,the,value,of,t
he,policy?
Variable,universal,life,-,ans--
Investment,risk,is,completely,taken,by,the,policyowner,is,what,type,policy?
The,value,of,nonforfeiture,options,may,decrease.,-,ans--
Jennifer,made,an,additional,premium,payment,on,her,Adjustable,Life,policy.,Which,of,the,fo
llowing,is,not,a,way,that,her,policy,is,affected,by,this,payment?
Contributory,-,ans--What,type,group,plan,requires,75%,participation?
Primary,-,ans--If,more,than,one,beneficiary,is,named,,who,is,the,first,in,line?
In,life,insurance,,insurable,interest,must,be,present,at,the,time,of:,-,ans--Application
MECs,(Modified,Endowment,Contracts),-,ans--Over-
funded,life,insurance,policies,where,the,proceeds,are,subject,to,taxation,are,called:
First,-,ans--
After,what,policy,year,of,any,life,insurance,policy,,can,suicide,of,the,policyowner,not,be,use
d,as,defense,against,the,payment,of,benefits?
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