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COLORADO LIFE INSURANCE FINAL EXAM QUESTIONS AND A GRADED ANSWERS
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COLORADO LIFE INSURANCE FINAL EXAM QUESTIONS AND A GRADED ANSWERS
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COLORADO LIFE INSURANCE FINALEXAM QUESTIONS AND A GRADED
ANSWERS
Return bvof bvpremium bv- bvANS--The bvlife bvinsurance bvrider bvthat bvpays bvthe bvface
bvamount bvplus bvthe bvtotal bvpremiums bvpaid bvinto bvthe bvpolicy bvis bvknown bvas:
Foreign bvor bvalien bv- bvANS--What bvkind bvof bvcompany bvcan bvthe bvCommissioner bvfile
bva bvcomplaint bvto bvenjoin bvand bvrestrain bvfrom bvcontinuing bvviolations bvof bvthe
bvinsurance bvregulations bvof bvColorado?
Yes, bvthe bvinterest bvcan bvbe bvpaid bvannually, bvor bvadded bvto bvthe bvloan. bv- bvANS--
Does bva bvloan bvon bvthe bvcash bvvalue bvof bva bvlife bvinsurance bvpolicy bvaccrue
bvinterest, bvand bvif bvso, bvhow bvis bvthe bvinterest bvhandled?
Needs bv- bvANS--What bvapproach bvcalculates bvthe bvamount bvof bvmoney bva bvfamily
bvneeds bvimmediately bvupon bvthe bvdeath bvof bvthe bvinsured bvto bvpay bvfor bvtheir
bvexpenses bvand bvbasic bvnecessities?
A bv41 bvyear bvold bvlawyer bvwho bvwants bva bvpolicy bvto bvpay bvhis bvmortgage bvif bvhe
bvdies bv(decreasing bvterm bvlife bvgenerally bvis bvused bvas bvmortgage bvinsurance) bv-
bvANS--A bvdecreasing bvterm bvlife bvpolicy bvwould bvbe bvthe bvmost bvappropriate bvfor:
30 bvdays bv- bvANS--A bvproducer bvor bvbusiness bventity bvshall bvreport bvto bvthe
bvCommissioner bvany bvadministrative bvaction bvtaken bvagainst bvthe bvproducer bvwithin:
Assignment bv- bvANS--Richard bvis bvthinking bvabout bvtransferring bvsome bvof bvthe
bvownership bvrights bvof bvhis bvpolicy bvto bvhis bvbrother bvRandy. bvWhat bvterm bvis bvused
bvfor bvthis bvtype bvof bvtransfer?
Term bvpolicy bv- bvANS--Jeff bvhas bvlimited bvfinancial bvresources, bvbut bvfinds bvhimself
bvin bva bvposition bvwhere bvhe bvneeds bva bvgood bvdeal bvof bvprotection. bvA
bv__________would bvprobably bvbest bvsuit bvhis bvneeds bvat bvthis bvtime.
November bv7 bv- bvANS--On bvNovember bv5, bvZoe bvfills bvout bvan bvapplication bvfor bva
bvlife bvpolicy. bvOn bvNovember bv6, bvthe bvagent bvaccepts bvthe bvpremium bvfor bvthe
bvpolicy. bvThe bvpolicy bvis bvdelivered bvon bvNovember bv7. bvWhich bvdate bvdoes bvthe
bvFree bvLook bvperiod bvstart?
24 bvhours bv- bvANS--Insurance bvproducers bvmust bvcomplete bvhow bvmany bvhours bvof
bvcontinuing bveducation bveach bvlicensing bvperiod?
, Risk bvclassification bv- bvANS--Jacob, bvJames bvand bvJonathan bvare bvtriplets, bvand bvall
bvapplied bvfor bvthe bvsame bvtype bvof bvinsurance bvcoverage bvat bvthe bvsame bvtime.
bvFor bvJames bvand bvJonathan bvthe bvrates bvwere bvthe bvsame. bvJacob's bvrate bvwas
bvquite bva bvbit bvhigher. bvWhat bvis bvthe bvmost bvlikely bvreason bvfor bvthis bvdifference?
Variable bvannuity bv- bvANS--If bvthe bvcash bvvalues bvof bvan bvannuity bvare bvinvested bvin
bvsecurities, bvit bvis bva:
Defamation bv- bvANS--If bvan bvagent bvwere bvto bvpublish bvliterature bvthat bvis bvfalse bvor
bvmaliciously bvcritical bvof bvanother bvinsurer bvcalculated bvto bvinjure bva bvperson
bvengaged bvin bvthe bvbusiness bvof bvinsurance, bvthe bvagent bvwould bvbe bvcommitting:
Other bvagents bv- bvANS--An bvagent bvhas bva bvfiduciary bvresponsibility bvto bvall bvthe
bvfollowing, bvEXCEPT:
Cash bvsurrender bv- bvANS--Alex's bvlife bvpolicy bvlapsed, bvwhich bvNonforfeiture bvoption
bvwould bvthe bvinsurer bvsend bvhim bvthe bvvalue bvof bvthe bvpolicy?
Variable bvuniversal bvlife bv- bvANS--Investment bvrisk bvis bvcompletely bvtaken bvby bvthe
bvpolicyowner bvis bvwhat bvtype bvpolicy?
The bvvalue bvof bvnonforfeiture bvoptions bvmay bvdecrease. bv- bvANS--Jennifer bvmade
bvan bvadditional bvpremium bvpayment bvon bvher bvAdjustable bvLife bvpolicy. bvWhich bvof
bvthe bvfollowing bvis bvnot bva bvway bvthat bvher bvpolicy bvis bvaffected bvby bvthis bvpayment?
Contributory bv- bvANS--What bvtype bvgroup bvplan bvrequires bv75% bvparticipation?
Primary bv- bvANS--If bvmore bvthan bvone bvbeneficiary bvis bvnamed, bvwho bvis bvthe bvfirst
bvin bvline?
In bvlife bvinsurance, bvinsurable bvinterest bvmust bvbe bvpresent bvat bvthe bvtime bvof: bv-
bvANS--Application
MECs bv(Modified bvEndowment bvContracts) bv- bvANS--Over-funded bvlife bvinsurance
bvpolicies bvwhere bvthe bvproceeds bvare bvsubject bvto bvtaxation bvare bvcalled:
First bv- bvANS--After bvwhat bvpolicy bvyear bvof bvany bvlife bvinsurance bvpolicy, bvcan
bvsuicide bvof bvthe bvpolicyowner bvnot bvbe bvused bvas bvdefense bvagainst bvthe bvpayment
bvof bvbenefits?
3 bvindividuals bv- bvANS--In bvColorado, bvwhat bvis bvthe bvminimum bvnumber bvof
bvindividuals bva bvgroup bvlife bvpolicy bvwill bvcover?
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