Colorado Life Insurance Final Exam Questions All Solved Correct.
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Course
COLORADO LIFE INSURANCE
Institution
COLORADO LIFE INSURANCE
Return of premium - Answer The life insurance rider that pays the face amount plus the total premiums paid into the policy is known as:
Foreign or alien - Answer What kind of company can the Commissioner file a complaint to enjoin and restrain from continuing violations of the insurance re...
Colorado Life Insurance Final Exam
Questions All Solved Correct.
Return of premium - Answer The life insurance rider that pays the face amount plus the total premiums
paid into the policy is known as:
Foreign or alien - Answer What kind of company can the Commissioner file a complaint to enjoin and
restrain from continuing violations of the insurance regulations of Colorado?
Yes, the interest can be paid annually, or added to the loan. - Answer Does a loan on the cash value of a
life insurance policy accrue interest, and if so, how is the interest handled?
Needs - Answer 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) - Answer A decreasing term life policy would be the most appropriate for:
30 days - Answer A producer or business entity shall report to the Commissioner any administrative
action taken against the producer within:
Assignment - Answer 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?
Term policy - Answer 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.
November 7 - Answer 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?
, 24 hours - Answer Insurance producers must complete how many hours of continuing education each
licensing period?
Risk classification - Answer 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?
Variable annuity - Answer If the cash values of an annuity are invested in securities, it is a:
Defamation - Answer If an agent were to publish literature that is false or maliciously critical of another
insurer calculated to injure a person engaged in the business of insurance, the agent would be
committing:
Other agents - Answer An agent has a fiduciary responsibility to all the following, EXCEPT:
Cash surrender - Answer Alex's life policy lapsed, which Nonforfeiture option would the insurer send
him the value of the policy?
Variable universal life - Answer Investment risk is completely taken by the policyowner is what type
policy?
The value of nonforfeiture options may decrease. - Answer Jennifer made an additional premium
payment on her Adjustable Life policy. Which of the following is not a way that her policy is affected by
this payment?
Contributory - Answer What type group plan requires 75% participation?
Primary - Answer 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: - Answer Application
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