COLORADO LIFE INSURANCE EXAM REVIEW SHEET COMPLETE QUESTIONS ANSWERS
GRADED A PLUS
Question:
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?
Question:
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?
Question:
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?
Question:
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:
,Question:
30 days
Answer:
A producer or business entity shall report to the Commissioner any administrative action taken
against the producer within:
Question:
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?
Question:
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.
Question:
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?
Question:
24 hours
, Answer:
Insurance producers must complete how many hours of continuing education each licensing period?
Question:
Risk classification
Answer:
Jacob, James and Jonathan are triplets, and all applied for the same type of insurance coverage at the
same time. For James and Jonathan the rates were the same. Jacob's rate was quite a bit higher. What
is the most likely reason for this difference?
Question:
Variable annuity
Answer:
If the cash values of an annuity are invested in securities, it is a:
Question:
Defamation
Answer:
If an agent were to publish literature that is false or maliciously critical of another insurer calculated
to injure a person engaged in the business of insurance, the agent would be committing:
Question:
Other agents
Answer:
An agent has a fiduciary responsibility to all the following, EXCEPT:
Question:
GRADED A PLUS
Question:
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?
Question:
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?
Question:
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?
Question:
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:
,Question:
30 days
Answer:
A producer or business entity shall report to the Commissioner any administrative action taken
against the producer within:
Question:
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?
Question:
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.
Question:
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?
Question:
24 hours
, Answer:
Insurance producers must complete how many hours of continuing education each licensing period?
Question:
Risk classification
Answer:
Jacob, James and Jonathan are triplets, and all applied for the same type of insurance coverage at the
same time. For James and Jonathan the rates were the same. Jacob's rate was quite a bit higher. What
is the most likely reason for this difference?
Question:
Variable annuity
Answer:
If the cash values of an annuity are invested in securities, it is a:
Question:
Defamation
Answer:
If an agent were to publish literature that is false or maliciously critical of another insurer calculated
to injure a person engaged in the business of insurance, the agent would be committing:
Question:
Other agents
Answer:
An agent has a fiduciary responsibility to all the following, EXCEPT:
Question:
