COLORADO LIFE AND HEALTH
COMPREHENSIVE STUDY GUIDE 2026
POLICY AND REGULATIONS SOLUTIONS
VERIFIED A+
◉ Alien Insurer.
Answer: An insurer domiciled in a country other than the United
States.
◉ Admitted Insurer.
Answer: An insurer to which a state insurance department has
granted a license to do business within that state.
◉ Broker.
Answer: represents themselves and the insured
◉ Captive Insurer.
Answer: an insurer owned by a parent firm for the purpose of
insuring the parent firm's loss exposures
◉ Certificate Authority.
,Answer: A license issued to an insurer by a department of insurance
(or equivalent state agency), which authorizes that company to
conduct insurance business in that particular state.
◉ Claims Department.
Answer: responsible for processing, investigating, and paying claims
◉ Divisible Surplus.
Answer: the amount of earnings paid to policyowners as dividends
after the insurance company sets aside funds required to cover
reserves, operating expenses, and general business purposes
◉ Domestic Insurer.
Answer: an insurer with its principal or home office in a state where
it is authorized
◉ Foreign Insurer.
Answer: insurer with its principal office or domicile location in a
state different from the state it is transacting insurance business
◉ Fraternal Benefit Society.
Answer: nonprofit benevolent organizations that provide insurance
to its members
, ◉ Industrial Insurer.
Answer: make up a specialized branch of the industry, primarily
providing policies with small face amounts with weekly premiums.
Other names for industrial insurers include home service or debit
insurers.
◉ insurance.
Answer: The transfer of risk through the pooling or accumulation of
funds.
◉ insured.
Answer: the customer receiving insurance protection under an
insurance policy
◉ insurer.
Answer: insurance company
◉ Lloyd's of London.
Answer: NOT an insurer, but a group of individuals and companies
that underwrite unusual insurance
◉ Multi-line insurer.
Answer: an insurance company or independent agent that provides
a one-stop shop for businesses or individuals seeking coverage for
COMPREHENSIVE STUDY GUIDE 2026
POLICY AND REGULATIONS SOLUTIONS
VERIFIED A+
◉ Alien Insurer.
Answer: An insurer domiciled in a country other than the United
States.
◉ Admitted Insurer.
Answer: An insurer to which a state insurance department has
granted a license to do business within that state.
◉ Broker.
Answer: represents themselves and the insured
◉ Captive Insurer.
Answer: an insurer owned by a parent firm for the purpose of
insuring the parent firm's loss exposures
◉ Certificate Authority.
,Answer: A license issued to an insurer by a department of insurance
(or equivalent state agency), which authorizes that company to
conduct insurance business in that particular state.
◉ Claims Department.
Answer: responsible for processing, investigating, and paying claims
◉ Divisible Surplus.
Answer: the amount of earnings paid to policyowners as dividends
after the insurance company sets aside funds required to cover
reserves, operating expenses, and general business purposes
◉ Domestic Insurer.
Answer: an insurer with its principal or home office in a state where
it is authorized
◉ Foreign Insurer.
Answer: insurer with its principal office or domicile location in a
state different from the state it is transacting insurance business
◉ Fraternal Benefit Society.
Answer: nonprofit benevolent organizations that provide insurance
to its members
, ◉ Industrial Insurer.
Answer: make up a specialized branch of the industry, primarily
providing policies with small face amounts with weekly premiums.
Other names for industrial insurers include home service or debit
insurers.
◉ insurance.
Answer: The transfer of risk through the pooling or accumulation of
funds.
◉ insured.
Answer: the customer receiving insurance protection under an
insurance policy
◉ insurer.
Answer: insurance company
◉ Lloyd's of London.
Answer: NOT an insurer, but a group of individuals and companies
that underwrite unusual insurance
◉ Multi-line insurer.
Answer: an insurance company or independent agent that provides
a one-stop shop for businesses or individuals seeking coverage for
