Life - colorado law Practice Exam Questions With Already Passed Answers.
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Module
COLORADO LIFE INSURANCE
Institution
COLORADO LIFE INSURANCE
Which type of insurer may pay dividends to policyholders? - Answer Mutual
You must be licensed to sell all of the following EXCEPT: - Answer Travel accident
To obtain a Colorado producer's license as a nonresident, you must: - Answer Have a similar license in your home state
You n...
Life - colorado law Practice Exam
Questions With Already Passed
Answers.
Which type of insurer may pay dividends to policyholders? - Answer Mutual
You must be licensed to sell all of the following EXCEPT: - Answer Travel accident
To obtain a Colorado producer's license as a nonresident, you must: - Answer Have a similar license in
your home state
You need an insurance license to sell all EXCEPT: - Answer Prepaid Legal
If, after a hearing, the Commissioner finds that an insurer willfully violated insurance law, he may impose
a maximum total fine of _______ in 12 months. - Answer $750,000
An insurer who willfully violates a single provision of an unfair trade practice regulation may be fined: -
Answer $30,000
It is not unfair to deny a claim in which of the following situations? - Answer An excluded claim
Colorado's Insurance Continuing Education law requires: - Answer 24 credit hours every 2 years
regardless of the number of licenses held
What is the maximum a producer may be fined for violating a cease and desist order? - Answer $500 -
for each and every act
No insurer shall transact insurance in this state without a: - Answer Certificate of Authority
, If a producer or insurer is found to have violated an insurance law, the Commissioner may do all of the
following EXCEPT: - Answer Impose time in jail
Under Colorado's Unfair Claims Practices regulations, when denying a claim an insurer must do all of the
following EXCEPT: - Answer Pay a claim that occurs after the grace period has ended
As the producer you are required to remit premiums from a trust account to your insurer within how
many days of receipt? - Answer 45
Which of the following is unlawful? - Answer Giving the insured a rebate
Which of the following statements concerning clerical and administration personnel who do not solicit or
get commission is true? - Answer Need not be licensed
All of the following are considered misrepresentation EXCEPT: - Answer Projecting a dividend on a
participating policy
You need a license to sell all of the following types of policies EXCEPT: - Answer Pre-paid legal
Conditions for a corporate insurance agency seeking a Colorado license include: - Answer All agency
principals selling insurance to have an individual license
Which of the following would not be considered an unfair claims settlement practice? - Answer
Refusing to pay a claim after conducting a proper investigation
All of the following would be prohibited EXCEPT - Answer Offering a client a multi-policy discount
A producer who procures a license for the principal purpose of obtaining insurance for herself, her family
members or employees is violating the regulations concerning: - Answer Controlled business
Which of the following is correct regarding a producer's license? - Answer A producer's license is
perpetual, subject to payment of renewal fees and continuing education
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