Colorado Life & Health Insurance State Law Supplement Practice Exam questions with correct Answers

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Supplement Practice Exam
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questions with correct answers 2025 v v v v




What is the maximum amount the commissioner canfine an insurer for each violation of a cease-and- desist
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order? - CORRECT ANSWER -$10,000
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When appropriate the commissioner reports a violation of insurance law to - CORRECT ANSWER - The
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district attorney
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A company that has not been authorized to operate inColorado is known as -ZCORRECT ANSWER - AZnonadmitted
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insurer
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An insurer that terminates the producers appointmentmust informthe commissioner withinhow many
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days? - CORRECT ANSWER -30
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All of the following are duties of the commissioner except: a. keeping records of the insurers that he has
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examined b. adoptingZrules and regulations c. writingZinsurance laws d. submittingan annual report to th e
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General assembly -ZCORRECT ANSWER -See. Writing insurance laws
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When an insurer terminates a producer's appointment, the insurer must notify -ZCORRECT ANSWER - The
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commissioner and producer
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An insurance producer who solicits insurance on behalf of an insurer represents the -
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CORRECT ANSWER -Insurer
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Thecommissionermay...- CORRECT ANSWER -
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Conductinvestigations andsubpoenawitnesseswhenever he deems itZnecessary
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The commissioner gives approval to aninsurer to do business in Colorado in a certificate of - CORRECT
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ANSWER -Authority
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, In Colorado allofthe following are considered unfairtrade practices except: a.Misrepresentation b. Reba ting c..
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Replacement D. Coercion - CORRECT ANSWER -C. Replacement
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All of the following are violations of Colorado insurance law except: a. Charging individuals of the same cl ass
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different premium rates b. Offering tickets to a football game as an incentive to purchase a policy c. In formingZa
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new policy holder that his new policy, if lapsed for nonpayment of premium, could be reinstate d upon
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reapplication d. Having an arrangement to sell stock to a person contingent upon the purchase of an annuity -
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CORRECT ANSWER -
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C. In forming a new policy holder that his new policy, if lapsed for nonpayment of premium, could be rein stated
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upon reapplication
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All of the following insurance practices are illegal in Colorado except: A. Soliciting or procuring insurance
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without a license B. Paying a fee for services as an insurance producer to anyone who is not properly lice nsed
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C. Inquiring about an applicant sexual orientation in connection with an application D. ReplacingZon e
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lifeZinsurance policy with another - CORRECT ANSWER -
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D. Replacingone life insurance policy with another
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How many hours of continuing education must be in courses associated with the lines of insurance for wh ich
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the producer is licensed? - CORRECT ANSWER -18
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All of the followingare examples of unfair claims settlement practices except: A. Paying the claimwithout
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conducting an investigation B. Denying a claim promptly but without explaining the coverage or laws on
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which the denial is based C. Paying a claim promptly but without explaining the coverage or laws on whic h the
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payment is based D. Denying the claim without making an investigation - CORRECT ANSWER -
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A. Paying aclaim withoutconductingZan investigation
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A producer has how many days to file a written appeal to the commissioner afterhe has been terminated by his
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appointing insurer? - CORRECT ANSWER -30
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A fraternal benefit society representative need not be licensed as a producer if he sells life insurance with the
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face amount equal to or less than: - CORRECT ANSWER -50,000
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To be licensed to selllife, accident and health insurance inColorado, andapplicantZmust complete: -
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CORRECT ANSWER -100 hours of pre-licensing education
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