Exam (elaborations)
Colorado Accident & health laws state exam simulator: Questions & Answers: Updated A+
- Course
- Institution
Colorado Accident & health laws state exam simulator: Questions & Answers: Updated A+
[Show more]
Content preview
Colorado Accident & health laws state exam simulator:Questions & Answers: Updated A+
A license is deemed to be used for controlled business if during any 12-month period
the licensee wrote more than 10 policies on controlled business
the licensee wrote policies totaling more than $25,000 on controlled business
the licensee's total premiums on controlled business made up more than 25% of his
total premiums
the licensee's total premiums on controlled business exceeded the total premiums on
all other business - the licensee's total premiums on controlled business exceeded the
total premiums on all other business
In Colorado, which of the following is true regarding the commingling of an insured's
funds with the funds of the producer?
It is never okay
It is okay with the insurer's written approval
It is okay if records are kept on the transaction
It is okay with the insured's written approval - it is never okay
Who is not eligible to receive commissions from the sale of an insurance product?
Corporate executive
General agent
Licensed home office employee
Personal producer - corporate executive
Which of the following is an example of a misrepresentation?
Making malicious statements about an insurer
Describing a universal life policy as a security
Returning a portion of a premium as inducement to purchase insurance
Failing to affirm or deny coverage of claims within a reasonable time - describing a
universal life policy as a security
Which of the following is an example of defamation?
A brochure including an untrue statement regarding a competitor's ability to pay claims
A truthful estimate of the dividends
A pamphlet listing a competitor's financial rating
A verbal statement of a competitor's complaint ratio - A brochure including an untrue
statement regarding a competitor's ability to pay claims
Which of the following is an example of rebating?
offer of temporary insurance coverage
cancellation of an insurance policy without cause
sale of mass-marketed insurance products
, returning a portion of a premium as inducement to purchase insurance - returning a
portion of a premium as inducement to purchase insurance
Which of the following is a duty of the Commissioner?
Setting insurance rates
Writing insurance laws
Setting sales quotas
Reviewing and approving license applications - reviewing and approving license
applications
An insurer that terminates a producer's appointment must inform the Commissioner
within how many days?
45
55
15
30 - 30
In Colorado, all of the following are considered unfair trade practices EXCEPT
coercion
rebating
replacement
misrepresentation - replacement
A fiduciary responsibility is defined as
a relationship of special trust and confidence when a person is entrusted with another's
funds
the responsibility of the insured to pay premiums in a timely fashion
the responsibility the producer has to the appointing insurer
the relationship between the broker and the insurer whose products are sold - a
relationship of special trust and confidence when a person is entrusted with another's
funds
Circulation of a maliciously critical statement about an insurer's financial condition
meant to damage the insurer's reputation or business is called
defamation
unfair discrimination
conservation
coercion - defamation
Which information is NOT included in the Colorado Supplement to the Summary of
Benefits and Coverage form?
Covered cancer screenings
Deductibles
Insurer's prior year financials
Balanced billing - insurer's prior year financials
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller chareiezekiel. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $30.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79064 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
