Insurance Licensing
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1. any insurer who sells any type II insurance must a
make records relating to that insurance. how
long must they maintain those records?
a. 5 years
b. 3 years past end of policy period
c. lifetime
d. 3 years
2. a foreign or alien non-admitted insurer must file b
an eligibility form:
a. on or before jan 1st
b. on or before march 1st
c. between july 1st and june 30th of previous
year
d. dec 31st of previous year
3. a producer that only sells insurance to family controlled business
members is said to be engaging in
4. surplus lines insurance may be procured subject c. needs to be w/i 30 days
to all the following conditions except
a. insurance is not procurable from admitted
user
b. placing insurance w/ non-admitted insurer
must not be to secure a lower premium rate
c. executing broker-dealer must file affidavit w/i
15 days from the sale
d. must be procured through a license broker
5. when exempt commercial policyhoder operates the state w/ the largest % of premi-
in more than one state a dispute will be gov- ums charged under the policy
erned by
, Insurance Licensing
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6. an alien company seeking inclusion on the eligi- be listed on the quarterly listing of
ble list must alien insurers
7. insurance companies and self insured employ- monthly basis
ees must report all other injuries requiring only
medical care to the division of worker comp on
a
8. an insurer must have on file a summary disclo- a.
sure form for all the following policies except
a. surplus lines policies
b. dwelling fire insurance
c. automobile insurance
d. homeowners insurance
9. the required basic legal liability coverages for coverage for B.I or death arising
CO personal automobile policies are out of use of motor vehicle to a
limit of $25,000 to any one person
in one accident and $50,000 to all
persons in any one accident and for
P.D arising out of use to a limit of
$15,000 in any one accident
10. what settlement of what amount or more must $75,000
be submitted to the division of workers comp for
approval
11. the producer who posts a bail bond with the 3 years
court must keep business copies of discharge
for how long
12. a license is deemed to be used for controlled
business if during any 12-month period
, Insurance Licensing
Study online at https://quizlet.com/_f9b7f0
the licensees total premiums on
controlled business exceeds the to-
tal premiums on all other business
13. who is not eligible to receive commissions from corporate executive
the sale of an insurance product
14. notice of injury, for which compensation and 10 days after the injury
benefits are payable, must be given by the em-
ployer to the division and insurance carrier w/i
how many days
15. the temp total disability benefit under workers 66 and 2/3 percent of the aver-
comp is calculated at age weekly wage up to the max
allowed of 91% of state average
weekly wage per week
16. the min medical payment coverage required for $5,000
personal automobile policy in CO is
17. the signature of the insurance producer who not an obligation to pay any debt
writes bail bonds is owed to a lender
18. a summary disclosure form can be delivered no within 48 hours of the policy pur-
later than chase
19. if a producer is going to deposit any premium separate insurance trust account
into a bank account prior to remitting the funds
to the insurer they must use a
20. licensing is required for all the following except a
a. selling prepaid legal services
b. travel ticket selling
Study online at https://quizlet.com/_f9b7f0
1. any insurer who sells any type II insurance must a
make records relating to that insurance. how
long must they maintain those records?
a. 5 years
b. 3 years past end of policy period
c. lifetime
d. 3 years
2. a foreign or alien non-admitted insurer must file b
an eligibility form:
a. on or before jan 1st
b. on or before march 1st
c. between july 1st and june 30th of previous
year
d. dec 31st of previous year
3. a producer that only sells insurance to family controlled business
members is said to be engaging in
4. surplus lines insurance may be procured subject c. needs to be w/i 30 days
to all the following conditions except
a. insurance is not procurable from admitted
user
b. placing insurance w/ non-admitted insurer
must not be to secure a lower premium rate
c. executing broker-dealer must file affidavit w/i
15 days from the sale
d. must be procured through a license broker
5. when exempt commercial policyhoder operates the state w/ the largest % of premi-
in more than one state a dispute will be gov- ums charged under the policy
erned by
, Insurance Licensing
Study online at https://quizlet.com/_f9b7f0
6. an alien company seeking inclusion on the eligi- be listed on the quarterly listing of
ble list must alien insurers
7. insurance companies and self insured employ- monthly basis
ees must report all other injuries requiring only
medical care to the division of worker comp on
a
8. an insurer must have on file a summary disclo- a.
sure form for all the following policies except
a. surplus lines policies
b. dwelling fire insurance
c. automobile insurance
d. homeowners insurance
9. the required basic legal liability coverages for coverage for B.I or death arising
CO personal automobile policies are out of use of motor vehicle to a
limit of $25,000 to any one person
in one accident and $50,000 to all
persons in any one accident and for
P.D arising out of use to a limit of
$15,000 in any one accident
10. what settlement of what amount or more must $75,000
be submitted to the division of workers comp for
approval
11. the producer who posts a bail bond with the 3 years
court must keep business copies of discharge
for how long
12. a license is deemed to be used for controlled
business if during any 12-month period
, Insurance Licensing
Study online at https://quizlet.com/_f9b7f0
the licensees total premiums on
controlled business exceeds the to-
tal premiums on all other business
13. who is not eligible to receive commissions from corporate executive
the sale of an insurance product
14. notice of injury, for which compensation and 10 days after the injury
benefits are payable, must be given by the em-
ployer to the division and insurance carrier w/i
how many days
15. the temp total disability benefit under workers 66 and 2/3 percent of the aver-
comp is calculated at age weekly wage up to the max
allowed of 91% of state average
weekly wage per week
16. the min medical payment coverage required for $5,000
personal automobile policy in CO is
17. the signature of the insurance producer who not an obligation to pay any debt
writes bail bonds is owed to a lender
18. a summary disclosure form can be delivered no within 48 hours of the policy pur-
later than chase
19. if a producer is going to deposit any premium separate insurance trust account
into a bank account prior to remitting the funds
to the insurer they must use a
20. licensing is required for all the following except a
a. selling prepaid legal services
b. travel ticket selling
