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Colorado Life Insurance Final Exam Practice Questions and Answers (100% Pass)
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Colorado Life Insurance Final Exam Practice Questions and Answers (100% Pass)
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©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AMColorado Life Insurance Final Exam Practice
Questions and Answers (100% Pass)
Return of premium - ✔️✔️The life insurance rider that pays the face amount plus the total
premiums paid into the policy is known as:
Foreign or alien - ✔️✔️What kind of company can the Commissioner file a complaint to
enjoin and restrain from continuing violations of the insurance regulations of Colorado?
Yes, the interest can be paid annually, or added to the loan. - ✔️✔️Does a loan on the
cash value of a life insurance policy accrue interest, and if so, how is the interest
handled?
Needs - ✔️✔️What approach calculates the amount of money a family needs immediately
upon the death of the insured to pay for their expenses and basic necessities?
A 41 year old lawyer who wants a policy to pay his mortgage if he dies (decreasing term
life generally is used as mortgage insurance) - ✔️✔️A decreasing term life policy would
be the most appropriate for:
30 days - ✔️✔️A producer or business entity shall report to the Commissioner any
administrative action taken against the producer within:
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, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
Assignment - ✔️✔️Richard is thinking about transferring some of the ownership rights of
his policy to his brother Randy. What term is used for this type of transfer?
Term policy - ✔️✔️Jeff has limited financial resources, but finds himself in a position
where he needs a good deal of protection. A __________would probably best suit his
needs at this time.
November 7 - ✔️✔️On November 5, Zoe fills out an application for a life policy. On
November 6, the agent accepts the premium for the policy. The policy is delivered on
November 7. Which date does the Free Look period start?
24 hours - ✔️✔️Insurance producers must complete how many hours of continuing
education each licensing period?
Risk classification - ✔️✔️Jacob, James and Jonathan are triplets, and all applied for the
same type of insurance coverage at the same time. For James and Jonathan the rates
were the same. Jacob's rate was quite a bit higher. What is the most likely reason for
this difference?
Variable annuity - ✔️✔️If the cash values of an annuity are invested in securities, it is a:
Defamation - ✔️✔️If an agent were to publish literature that is false or maliciously critical
of another insurer calculated to injure a person engaged in the business of insurance,
the agent would be committing:
Other agents - ✔️✔️An agent has a fiduciary responsibility to all the following, EXCEPT:
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