Exam (elaborations)
Colorado Life & Health Insurance State Law Supplement Practice Exam with complete solutions
Colorado Life & Health Insurance State Law Supplement Practice Exam with complete solutions
[Show more]
Content preview
Colorado Life & Health Insurance StateLaw Supplement Practice Exam with
complete solutions
What is the maximum amount the commissioner can fine an insurer for each
violation of a cease-and-desist order? - -$10,000
-When appropriate the commissioner reports a violation of insurance law to -
-The district attorney
-A company that has not been authorized to operate in Colorado is known as
- -A nonadmitted insurer
-An insurer that terminates the producers appointment must inform the
commissioner within how many days? - -30
-All of the following are duties of the commissioner except: a. keeping
records of the insurers that he has examined b. adopting rules and
regulations c. writing insurance laws d. submitting an annual report to the
General assembly - -See. Writing insurance laws
-When an insurer terminates a producer's appointment, the insurer must
notify - -The commissioner and producer
-An insurance producer who solicits insurance on behalf of an insurer
represents the - -Insurer
-The commissioner may... - -Conduct investigations and subpoena
witnesses whenever he deems it necessary
-The commissioner gives approval to an insurer to do business in Colorado
in a certificate of - -Authority
-In Colorado all of the following are considered unfair trade practices except:
a. Misrepresentation b. Rebating c.. Replacement D. Coercion - -C.
Replacement
-All of the following are violations of Colorado insurance law except: a.
Charging individuals of the same class different premium rates b. Offering
tickets to a football game as an incentive to purchase a policy c. In forming a
new policy holder that his new policy, if lapsed for nonpayment of premium,
could be reinstated upon reapplication d. Having an arrangement to sell
stock to a person contingent upon the purchase of an annuity - -C. In
, forming a new policy holder that his new policy, if lapsed for nonpayment of
premium, could be reinstated upon reapplication
-All of the following insurance practices are illegal in Colorado except: A.
Soliciting or procuring insurance without a license B. Paying a fee for services
as an insurance producer to anyone who is not properly licensed C. Inquiring
about an applicant sexual orientation in connection with an application D.
Replacing one life insurance policy with another - -D. Replacing one life
insurance policy with another
-How many hours of continuing education must be in courses associated
with the lines of insurance for which the producer is licensed? - -18
-All of the following are examples of unfair claims settlement practices
except: A. Paying the claim without conducting an investigation B. Denying a
claim promptly but without explaining the coverage or laws on which the
denial is based C. Paying a claim promptly but without explaining the
coverage or laws on which the payment is based D. Denying the claim
without making an investigation - -A. Paying a claim without conducting an
investigation
-A producer has how many days to file a written appeal to the commissioner
after he has been terminated by his appointing insurer? - -30
-A fraternal benefit society representative need not be licensed as a
producer if he sells life insurance with the face amount equal to or less than:
- -50,000
-To be licensed to sell life, accident and health insurance in Colorado, and
applicant must complete: - -100 hours of pre-licensing education
-A fiduciary responsibility is defined as: - -A relationship of special trust and
confidence when a person is entrusted with another's funds
-A producer who has to write a majority of his insurance business on the
employees and officers of a restaurant owned by his wife is transacting: - -
Controlled business
-Circulation of a maliciously critical statement about an insurer's financial
condition to damage the insurer's reputation or business is called: - -
Defamation
-In general, people who represent fraternal benefit society's to solicit
insurance are: - -Considered insurance producers and must meet all
licensing requirements
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £8.59. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now