Colorado practice exam - Study guides, Class notes & Summaries

If a producer misrepresents a part of a policy, will the Insurer cover a claim made for the misrepresentation? correct answersYes, if an agent mistakenly says something untrue about a policy, the company WILL cover the loss b/c the agent legally represents the insurer. The insurer may seek reimbursement from Agent for their error. When must a certificate of Authority be renewed each year in the State of Colorado? correct answersJune 30th Estoppel correct answersPrevents a party from enforc...

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Colorado Property & Casualty - From Practice Exam If a producer misrepresents a part of a policy, will the Insurer cover a claim made for the misrepresentation? Yes, if an agent mistakenly says something untrue about a policy, the company WILL cover the loss b/c the agent legally represents the insurer. The insurer may seek reimbursement from Agent for their error. When must a certificate of Authority be renewed each year in the State of Colorado? June 30th Estoppel Prevents a party...

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Who will not have a copy of the listing agreement? Seller Listing broker Buyer's agent Listing agent - Answer Buyer's agent Mr. and Mrs. Snively have a contract to purchase a home for $257,000. A hailstorm damaged the roof to the tune of $27,500 before closing. What remedy does the buyer have? Snively's can be entitled to credit for half the insurance proceeds resulting from the damage Snively's broker can wait until the roof is repaired then make a decision whether t...

Colorado Property & Casualty - from practice exam with 100% correct answers

Colorado Property & Casualty - from practice exam Questions and Answers 100% Pass If a producer misrepresents a part of a policy, will the Insurer cover a claim made for the misrepresentation? - Correct Answer ️️ -Yes, if an agent mistakenly says something untrue about a policy, the company WILL cover the loss b/c the agent legally represents the insurer. The insurer may seek reimbursement from Agent for their error. When must a certificate of Authority be renewed each year in the Stat...