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Colorado Life and Health Exam Questions and Answers with complete $12.49   Add to cart

Exam (elaborations)

Colorado Life and Health Exam Questions and Answers with complete

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Colorado Life and Health Exam | Questions and Answers with complete when does a certificate of authority expire when do you report administrative actions Penalty for license denial, suspension, or revocation Penalties for falsifying books/documents Unfair Trade Practices and methods of compet...

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  • March 16, 2024
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  • 2023/2024
  • Exam (elaborations)
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Colorado Life and Health Exam | Questions and
Answers with complete

1). When does a certificate of authority expire

 Ans: June 30th


2). When do you report administrative actions

 Ans: within 30 days


3). Penalty for license denial, suspension, or revocation

 Ans: 3,000


4). Penalties for falsifying books/documents

 Ans: maximum fine of 5,000 and between 2-12 months imprisonment


5). Unfair trade practices and methods of competition fines

 Ans: 3000 maximum per violation
30,000 maximum aggregate
30,000 insurer maximum per
750,000 insurer maximum aggregate


6). Claims must be paid by insurers within

 Ans: 60 days


7). Violation of cease and desist orders

 Ans: 500$ maximum for the individual
10,000 maximum for insurer


8). Emergency cease and desist order fine




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,  Ans: 25,000$


9). Minimum age for license

 Ans: 18


10). Change of address must be reported in

 Ans: 30 days


11). Minimum hours required for industry ethics

 Ans: 3 hours


12). Prelicensing requirements

 Ans: 50 hours


13). Terminating an appointment

 Ans: the commissioner must be notified in 30 days
Insurer has 15 days to notify the producer


14). Producer license renewal period

 Ans: 2 years


15). After reciept producer must remit premiums to insurer within

 Ans: 45 days


16). A producer must return all premium to insured within

 Ans: 30 days


17). Division of insurance inquiries must be answered in

 Ans: 20 days




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