Colorado Accident & health laws state Exam simulator Questions Answered Correct.
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Module
COLORADO LIFE INSURANCE
Institution
COLORADO LIFE INSURANCE
Which of the following is an example of defamation?
A brochure including an untrue statement regarding a competitor's ability to pay claims
A truthful estimate of the dividends
A pamphlet listing a competitor's financial rating
A verbal statement of a competitor's complaint ratio - Answer ...
Colorado Accident & health laws state
Exam simulator Questions Answered
Correct.
Which of the following is an example of defamation?
A brochure including an untrue statement regarding a competitor's ability to pay claims
A truthful estimate of the dividends
A pamphlet listing a competitor's financial rating
A verbal statement of a competitor's complaint ratio - Answer A brochure including an untrue
statement regarding a competitor's ability to pay claims
Which of the following is an example of rebating?
offer of temporary insurance coverage
cancellation of an insurance policy without cause
sale of mass-marketed insurance products
returning a portion of a premium as inducement to purchase insurance - Answer returning a portion of
a premium as inducement to purchase insurance
Which of the following is a duty of the Commissioner?
Setting insurance rates
Writing insurance laws
Setting sales quotas
Reviewing and approving license applications - Answer reviewing and approving license applications
A license is deemed to be used for controlled business if during any 12-month period
the licensee wrote more than 10 policies on controlled business
the licensee wrote policies totaling more than $25,000 on controlled business
the licensee's total premiums on controlled business made up more than 25% of his total premiums
, the licensee's total premiums on controlled business exceeded the total premiums on all other business
- Answer the licensee's total premiums on controlled business exceeded the total premiums on all
other business
In Colorado, which of the following is true regarding the commingling of an insured's funds with the
funds of the producer?
It is never okay
It is okay with the insurer's written approval
It is okay if records are kept on the transaction
It is okay with the insured's written approval - Answer it is never okay
Who is not eligible to receive commissions from the sale of an insurance product?
Corporate executive
General agent
Licensed home office employee
Personal producer - Answer corporate executive
Which of the following is an example of a misrepresentation?
Making malicious statements about an insurer
Describing a universal life policy as a security
Returning a portion of a premium as inducement to purchase insurance
Failing to affirm or deny coverage of claims within a reasonable time - Answer describing a universal
life policy as a security
An insurer that terminates a producer's appointment must inform the Commissioner within how many
days?
45
55
15
30 - Answer 30
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