Colorado Life & Health Insurance Exam Questions with Correct Answers

Colorado Life & Health Insurance Exam vv vv vv vv vv




Questions with Correct Answers 2025
vv vv vv vv vv




utilization review - CORRECT ANSWER - vv vv vv vv vv




a set of formal techniques to monitor the use or clinical necessity of health care, determining the appli
vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv




cation of exclusions, and the medical necessity of treatment.
vv vv vv vv vv vv vv vv vv




30 days for electronic; 45 days for paper - CORRECT ANSWER -
vv vv vv vv vv vv vv vv vv vv vv




With a clean claim, the insured has ? days for paying or denying electronic and ? days for paper claims.
vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv




Enforces - CORRECT ANSWER -The Commissioner vv vv vv vv vv vv laws and does not create them.
vv vv vv vv vv




5 years - CORRECT ANSWER -
vv vv vv vv vv




Every years, a licensed insurer must be examined by the state commissioner.
vv vv vv vv vv vv vv vv vv vv vv




Adverse selection - CORRECT ANSWER - vv vv vv vv vv




What is a major concern for Underwriters, especially during the open enrollment period?
vv vv vv vv vv vv vv vv vv vv vv vv




Conversion privilege - CORRECT ANSWER - vv vv vv vv vv




Allows individual policy conversion upon plan group termination
vv vv vv vv vv vv vv




Non-taxable - CORRECT ANSWER -Benefits are taxable or non-taxable (?) to employees. vv vv vv vv vv vv vv vv vv vv vv




20 - CORRECT ANSWER -
vv vv vv vv




Employers with + employees are required to offer COBRA for up to 18 months after an employee is
vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv




terminated.
vv




Master policy - CORRECT ANSWER - vv vv vv vv vv




In group health insurance a
vv type of policy is issued to the group sponsor.
vv vv vv vv vv vv vv vv vv vv vv vv




Impairment rider - CORRECT ANSWER - vv vv vv vv vv




Temporary or permanent rider added to a policy that includes specific conditions which would normally
vv vv vv vv vv vv vv vv vv vv vv vv vv vv




cause a policy to be declined.
vv vv vv vv vv vv

, Free Look Period - CORRECT ANSWER -
vv vv vv vv vv vv




The period of time for the insured to look over a policy after it is issued (10 days for health insurance, 1
vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv




5 for life)
v v vv vv




Class - CORRECT ANSWER -
vv vv vv vv




The guaranteed renewable provision states that premiums can only be increased by
vv vv vv vv vv vv vv vv vv vv vv vv .



Legal Actions Provision - CORRECT ANSWER -
vv vv vv vv vv vv




The vv states that one has 60 days after proof of loss with a 2-year limit on certain defenses. vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv




Insurers - CORRECT ANSWER -The insuring clause includes
vv vv vv vv vv vv vv vv 's promise to pay benefits.
vv vv vv vv




Proof of loss provision - CORRECT ANSWER -
vv vv vv vv vv vv vv




This provision states that the insured must provide proof of loss within 90 days, up to a 1-
vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv




year maximum.
vv vv




elimination period - CORRECT ANSWER - vv vv vv vv vv




waiting period after a loss occurs before benefit period begins (30, 90 days, up to 1 year)
vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv vv




Part C - CORRECT ANSWER -Medicare Advantage plan, substitution for original benefits (A & B)
vv vv vv vv vv vv vv vv vv vv vv vv vv vv




Medicare Part A - CORRECT ANSWER -Hospital insurance, covers inpatient and hospice
vv vv vv vv vv vv vv vv vv vv vv




Medicare Part B - CORRECT ANSWER - vv vv vv vv vv vv




Outpatient treatment, ER treatment, preventive care is looped under Part
vv vv vv vv vv vv vv vv vv vv




Supplement Part A - CORRECT ANSWER - vv vv vv vv vv vv




Also known as Medigap, this part covers core benefits, including hospice care; premiums vary.
vv vv vv vv vv vv vv vv vv vv vv vv vv




Guaranteed Insurability Rider - CORRECT ANSWER - vv vv vv vv vv vv




Optional rider that enables the policyowner to purchase additional amounts of coverage at predetermi
vv vv vv vv vv vv vv vv vv vv vv vv vv




ned times without proof of insurability
vv vv vv vv vv vv