Colorado Life Insurance Final Exam Questions and Correct Answers 2025/2026

Colorado Life Insurance Final Exam Questions and Correct Answers 2025/2026 Return of premium - Answer -The life insurance rider that pays the face amount plus the total premiums paid into the policy is known as: Foreign or alien - Answer -What kind of company can the Commissioner file a complaint to enjoin and restrain from continuing violations of the insurance regulations of Colorado? Yes, the interest can be paid annually, or added to the loan. - Answer - Does a loan on the cash value of a life insurance policy accrue interest, and if so, how is the interest handled? Needs - Answer -What approach calculates the amount of money a family needs immediately upon the death of the insured to pay for their expenses and basic necessities? A 41 year old lawyer who wants a policy to pay his mortgage if he dies (decreasing term life generally is used as mortgage insurance) - Answer -A decreasing term life policy would be the most appropriate for: 30 days - Answer -A producer or business entity shall report to the Commissioner any administrative action taken against the producer within:Assignment - Answer -Richard is thinking about transferring some of the ownership rights of his policy to his brother Randy. What term is used for this type of transfer? Term policy - Answer -Jeff has limited financial resources, but finds himself in a position where he needs a good deal of protection. A __________would probably best suit his needs at this time. November 7 - Answer -On November 5, Zoe fills out an application for a life policy. On November 6, the agent accepts the premium for the policy. The policy is delivered on November 7. Which date does the Free Look period start?