COLORADO HEALTH INSURANCE
EXAM QUESTIONS AND VERIFIED
ANSWERS 100% CORRECT (LATEST
UPDATE ) SUCCESS
SECTION 1: LICENSING AND REGULATION (Questions 1-100)
1. Any company that furnishes health care services to enrolled members in
return for a fixed sum or prepaid premium is defined as:
Answer: a health maintenance organization
2. Which of the following statements is CORRECT about insurance producers
who fail to satisfy the continuing education requirements?
Answer: Their licenses will be terminated
3. An individual may obtain a temporary insurance producer's license without
passing the licensing examination if the individual:
Answer: is a deceased licensed producer's next of kin
4. An insurance producer who makes false statements that harm the reputation
of another insurer is guilty of:
Answer: defamation
5. The Colorado Commissioner of Insurance may issue a temporary license to
an individual to act as an insurance producer for a period not to exceed:
Answer: 180 days
6. How many continuing education hours must a Colorado insurance producer
complete biennially?
Answer: 24 hours
7. At least how many of the 24 continuing education hours must be in ethics?
Answer: 3 hours
,8. At least how many of the 24 continuing education hours must be in approved
courses for the type of license the producer holds?
Answer: 18 hours
9. A nonresident producer whose home state does not recognize Colorado's
continuing education requirements must:
Answer: Comply with Colorado's continuing education requirements
10.A producer may accumulate no more than how many carryover credit hours
for the next continuing education period?
Answer: 12 hours
11.Carryover credit hours may be accumulated during which period?
Answer: The 120 days before the licensing continuation date
12.A producer who successfully completes an approved course may NOT
repeat the course within what period and count it toward continuing
education?
Answer: 2 years
13.A qualified instructor may count instruction hours for the same course only:
Answer: Once during a 24-month period
14.The Commissioner may grant an extension of time to complete continuing
education for good cause, not exceeding:
Answer: One additional year
15.All producers licensed to sell property or personal lines insurance must
complete how many hours of continuing education on homeowner's
insurance coverage?
Answer: 3 hours
16.Defamation by an insurance producer is defined as:
Answer: Making false or maliciously critical statements about another
insurer's financial condition
17.Unfair methods of competition in the business of insurance include all of the
following EXCEPT:
Answer: Competitive pricing
,18.Misrepresentation of insurance policies includes:
Answer: Making false statements about policy benefits, advantages, or
terms
19.Which of the following is considered an unfair or deceptive act in the
business of insurance?
Answer: Making false or misleading statements about dividends
previously paid
20.An insurance producer who misrepresents an insurance policy as being a
security is guilty of:
Answer: Misrepresentation
21.The Commissioner may revoke a temporary license if:
Answer: The interest of insureds or the public are endangered
22.A temporary license may NOT continue after:
Answer: The owner or personal representative disposes of the business
23.The Commissioner may require a temporary licensee to have:
Answer: A suitable sponsor who is a licensed producer or insurer
24.A person licensed as an insurance producer in another state who moves to
Colorado must apply for a resident license within:
Answer: 90 days
25.A nonresident producer who moves to Colorado is NOT required to take:
Answer: Prelicensing education or examination for lines previously held
26.The Commissioner may examine an insurance company:
Answer: As often as deemed necessary
27.Which of the following is an example of defamation?
Answer: A brochure including an untrue statement regarding a
competitor's ability to pay claims
28.Colorado law protects insurance consumers by identifying:
Answer: Illegal claim settlement practices
29.An insurer who knew or should have known about unfair business practices
of an insurance producer may be:
, Answer: Financially responsible for the producer's unfair business
practices
30.Defamation of another insurance company by an officer, director, or agent
is:
Answer: A petty offense
31.The Colorado Division of Insurance is part of which department?
Answer: Department of Regulatory Agencies
32.The Commissioner may issue a temporary license to a surviving spouse or
next of kin of a deceased producer for:
Answer: Up to 180 days without examination
33.A temporary license may be issued to the designee of a licensed producer
who:
Answer: Enters active service in the armed forces
34.The Commissioner may require the temporary licensee to have a suitable
sponsor who:
Answer: Assumes responsibility for all acts of the temporary licensee
35.A producer who makes false statements that harm the reputation of another
insurer is subject to:
Answer: Criminal penalties including fines and imprisonment
36.The maximum penalty for defamation by an insurance producer is:
Answer: A fine of up to $500 and imprisonment for up to 12 months
37.Unfair claim settlement practices are defined in:
Answer: C.R.S. § 10-3-1104
38.The Commissioner may issue a temporary license in any circumstance
where:
Answer: The public interest will best be served
39.A producer who is subject to continuing education requirements must
furnish proof of compliance:
Answer: In a form satisfactory to the Commissioner
EXAM QUESTIONS AND VERIFIED
ANSWERS 100% CORRECT (LATEST
UPDATE ) SUCCESS
SECTION 1: LICENSING AND REGULATION (Questions 1-100)
1. Any company that furnishes health care services to enrolled members in
return for a fixed sum or prepaid premium is defined as:
Answer: a health maintenance organization
2. Which of the following statements is CORRECT about insurance producers
who fail to satisfy the continuing education requirements?
Answer: Their licenses will be terminated
3. An individual may obtain a temporary insurance producer's license without
passing the licensing examination if the individual:
Answer: is a deceased licensed producer's next of kin
4. An insurance producer who makes false statements that harm the reputation
of another insurer is guilty of:
Answer: defamation
5. The Colorado Commissioner of Insurance may issue a temporary license to
an individual to act as an insurance producer for a period not to exceed:
Answer: 180 days
6. How many continuing education hours must a Colorado insurance producer
complete biennially?
Answer: 24 hours
7. At least how many of the 24 continuing education hours must be in ethics?
Answer: 3 hours
,8. At least how many of the 24 continuing education hours must be in approved
courses for the type of license the producer holds?
Answer: 18 hours
9. A nonresident producer whose home state does not recognize Colorado's
continuing education requirements must:
Answer: Comply with Colorado's continuing education requirements
10.A producer may accumulate no more than how many carryover credit hours
for the next continuing education period?
Answer: 12 hours
11.Carryover credit hours may be accumulated during which period?
Answer: The 120 days before the licensing continuation date
12.A producer who successfully completes an approved course may NOT
repeat the course within what period and count it toward continuing
education?
Answer: 2 years
13.A qualified instructor may count instruction hours for the same course only:
Answer: Once during a 24-month period
14.The Commissioner may grant an extension of time to complete continuing
education for good cause, not exceeding:
Answer: One additional year
15.All producers licensed to sell property or personal lines insurance must
complete how many hours of continuing education on homeowner's
insurance coverage?
Answer: 3 hours
16.Defamation by an insurance producer is defined as:
Answer: Making false or maliciously critical statements about another
insurer's financial condition
17.Unfair methods of competition in the business of insurance include all of the
following EXCEPT:
Answer: Competitive pricing
,18.Misrepresentation of insurance policies includes:
Answer: Making false statements about policy benefits, advantages, or
terms
19.Which of the following is considered an unfair or deceptive act in the
business of insurance?
Answer: Making false or misleading statements about dividends
previously paid
20.An insurance producer who misrepresents an insurance policy as being a
security is guilty of:
Answer: Misrepresentation
21.The Commissioner may revoke a temporary license if:
Answer: The interest of insureds or the public are endangered
22.A temporary license may NOT continue after:
Answer: The owner or personal representative disposes of the business
23.The Commissioner may require a temporary licensee to have:
Answer: A suitable sponsor who is a licensed producer or insurer
24.A person licensed as an insurance producer in another state who moves to
Colorado must apply for a resident license within:
Answer: 90 days
25.A nonresident producer who moves to Colorado is NOT required to take:
Answer: Prelicensing education or examination for lines previously held
26.The Commissioner may examine an insurance company:
Answer: As often as deemed necessary
27.Which of the following is an example of defamation?
Answer: A brochure including an untrue statement regarding a
competitor's ability to pay claims
28.Colorado law protects insurance consumers by identifying:
Answer: Illegal claim settlement practices
29.An insurer who knew or should have known about unfair business practices
of an insurance producer may be:
, Answer: Financially responsible for the producer's unfair business
practices
30.Defamation of another insurance company by an officer, director, or agent
is:
Answer: A petty offense
31.The Colorado Division of Insurance is part of which department?
Answer: Department of Regulatory Agencies
32.The Commissioner may issue a temporary license to a surviving spouse or
next of kin of a deceased producer for:
Answer: Up to 180 days without examination
33.A temporary license may be issued to the designee of a licensed producer
who:
Answer: Enters active service in the armed forces
34.The Commissioner may require the temporary licensee to have a suitable
sponsor who:
Answer: Assumes responsibility for all acts of the temporary licensee
35.A producer who makes false statements that harm the reputation of another
insurer is subject to:
Answer: Criminal penalties including fines and imprisonment
36.The maximum penalty for defamation by an insurance producer is:
Answer: A fine of up to $500 and imprisonment for up to 12 months
37.Unfair claim settlement practices are defined in:
Answer: C.R.S. § 10-3-1104
38.The Commissioner may issue a temporary license in any circumstance
where:
Answer: The public interest will best be served
39.A producer who is subject to continuing education requirements must
furnish proof of compliance:
Answer: In a form satisfactory to the Commissioner
