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COLORADO PROPERTY & CASUALTY - FROM PRACTICE EXAM QUESTIONS WITH [A GRADED] ANSWERS
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COLORADO PROPERTY & CASUALTY - FROM PRACTICE EXAM QUESTIONS WITH [A GRADED] ANSWERS
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COLORADO PROPERTY & CASUALTY -FROM PRACTICE EXAM QUESTIONS
WITH [A GRADED] ANSWERS
If bva bvproducer bvmisrepresents bva bvpart bvof bva bvpolicy, bvwill bvthe bvInsurer bvcover bva
bvclaim bvmade bvfor bvthe bvmisrepresentation? bv- bvANS--Yes, bvif bvan bvagent
bvmistakenly bvsays bvsomething bvuntrue bvabout bva bvpolicy, bvthe bvcompany bvWILL
bvcover bvthe bvloss bvb/c bvthe bvagent bvlegally bvrepresents bvthe bvinsurer. bvThe bvinsurer
bvmay bvseek bvreimbursement bvfrom bvAgent bvfor bvtheir bverror.
When bvmust bva bvcertificate bvof bvAuthority bvbe bvrenewed bveach bvyear bvin bvthe bvState
bvof bvColorado? bv- bvANS--June bv30th
Estoppel bv- bvANS--Prevents bva bvparty bvfrom bvenforcing bva bvright bvthat bvit bvvoluntarily
bvwaived bvby bvits bvpast bvconduct.
Captive bvInsurance bvCompany bv- bvANS--Formed bvto bvcover bvthe bvrisks bvof bvthe
bvparent bvorganization bvthat bvowns bvit. bvSophisticated bvform bvof bvSelf-Insurance.
Indemnity bv- bvANS--When bva bvloss bvvictim bvis bvfinancially bvrestored bvto bvthe
bvamount bvof bvthe bvloss.
How bvlong bvmust bvdisclosures bvbe bvkept bvon bvrecord? bv- bvANS--Disclosures bvmust
bvbe bvkept bvon bvrecord bvfor bv3 bvyears.
Legal bvContract bv- bvANS--Legal bvcontract bvis bvformed bvwhen bvapplication bvis
bvcompleted, bvsent bvwith bvpremium bvto bvthe bvinsurer, bvand bvaccepted bvby bvthe
bvinsurer.
What bvproducer bvis bvexempt bvfrom bvCO bvcontinuing bveducation bvcourses? bv- bvANS--
A bvTitle bvInsurance bvProducer.
What bvsource bvof bvfunds bvare bvused bvduring bvprosecution bvof bvalleged bvInsurance
bvFraud? bv- bvANS--During bvprosecution bvof bvalleged bvInsurance bvfraud, bvthe bvsource
bvof bvfunds bvis bvfrom bvfees bvcollected bvfrom bventities bvregulated bvby bvthe bvDivision.
What bvis bvthe bvtime bvlimit bvto bvpay bvor bvreject bvclaims bvin bvColorado? bv- bvANS--
Insurers bvmust bvreject bvor bvpay bvclaims bvwithin bv60 bvdays.
, Are bvAverse bvEconomic bvConditions bva bvcause bvfor bvrevision bvof bva bvpolicy bvupon
bvrenewal? bv- bvANS--Adverse bveconomic bvconditions bvwill bvNOT bvcause bvan bvinsurer
bvto bvrevise bva bvstandard bvpolicy bvform bvat bvrenewal.
Licensee bvvs bvInvitee bv- bvANS--Licensee bvwould bvbe bva bvDoor bvto bvDoor bvsalesman.
bvA bvDelivery bvperson bvis bvan bvinvitee.
Proximate bvCausation bv- bvANS--Proximate bvCausation bvis bvwhere bva bvplaintiff bvmust
bvprove bvthat bvthe bvdefendants bvaction bvset bvin bvmotion bva bvchain bvof bvevents bvthat
bvcould've bvreasonably bvbeen bvanticipated bvto bvlead bvto bvthe bvdamage bvsuffered.
Strict bvLiability bv- bvANS--Strict bvLiability bvholds bvpeople bvresponsible bveven bvif bvthey
bvhaven't bvbeen bvcareless/negligent. bvBut bvbecause bvthey bvbroke bvthe bvlaw bvor
bvignored bvclear bvsigns bvfor bvspecific bvbehavior.
Contributory bvNegligence bv- bvANS--Contributory bvNegligence bvconsiders bvthe
bvplaintiffs bvconduct bvas bva bvcause bvof bvtheir bvown bvinjury, bvand bvbars bvthem bvfrom
bvany bvrecovery. bv(Ex. bva bvpedestrian bvwalking bvwhen bvthey bvdon't bvhave bvthe bvright
bvof bvway, bvred bvflashing bvlight, bvand bvget bvhit bvby bva bvcar bvlegally bvmoving bvthrough
bvthe bvgreen bvlight.)
Is bvdamage bvcaused bvby bvflood bva bvcovered bvperil bvunder bva bvHome bvproperty
bvinsurance bvpolicy? bv- bvANS--No, bvdamage bvcaused bvby bvflood bvis bvexcluded
bvunder bva bvproperty bvinsurance bvpolicy's bvwater bvdamage bvexclusion.
Compensatory bvDamages bv- bvANS--Special bvand bvGeneral bvdamages
Policy bvReduction bvCoverage bv- bvANS--Policy bvreduction bvcoverage bvoccurs bvwhen
bva bvproperty bvis bvvacant bvfor bv60 bvdays.
Negligence bv- bvANS--Negligence bvis bvthe bvfailure bvto bvuse bvthe bvdegree bvof
bvreasonable bvcare, bvwithout bvintent bvto bvinjure.
Territory bvProvision bvof bva bvcasualty bvpolicy bv- bvANS--Territory bvProvision bvof bva
bvcasualty bvpolicy bvindicates bvwhere bvcoverage bvwould bvapply bvif bva bvloss bvoccurs.
If bvan bvInsurer bvfails bvto bvmeet bvthe bvrequirement bvbefore bvan bvexisting bvpolicy
bvexpires... bv- bvANS--the bvinsurer bvmust bvrenew bvthe bvpolicy bvto bvthe bvsame bvterms,
bvconditions, bvand bvpremium bvfor bvan bvidentical bvpolicy bvperiod.
No bvBenefit bvto bvBailee bv- bvANS--No bvBenefit bvto bvBailee bvprovision bvmakes bvit
bvclear bvthat bvno bvcoverage bvis bvprovided bvif bvit bvbenefits bva bvbailee.
Morale bvHazards bv- bvANS--Morale bvHazards bvarise bvfrom bva bvstate bvof bvmind,
bvattitude, bvor bvindifference bvto bvloss.
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