COLORADO LIFE INSURANCE EXAM TEST BANK SOLVED QUESTIONS 100 PERCENT CORRECT

COLORADO LIFE INSURANCE EXAM TEST BANK SOLVED QUESTIONS 100 PERCENT
CORRECT ANSWERS




Question:
In Colorado, a life insurance applicant has __ days after policy delivery for a full refund of premium
if not satisfied for any reason.

Answer:
15



Question:
Which of the following is required for a life insurance lapse notice

Answer:
Reason stated why the policy will lapse



Question:
To be valid, a group life insurance policy

Answer:
May not be issued to a group formed solely for the purpose of obtaining insurance.



Question:
Colorado does not allow an insured to deny a life insurance claim due to Suicide after the policy has
been in force for one year

Answer:

, Question:
If an annuity application was not taken in person, An insurer must provide the applicant a buyers
guide

Answer:
within 5 business days of the insurer receiving the application



Question:
Which of the following statement is correct regarding Insurable interest in a life insurance contracts

Answer:
A person generally is considered to have an unlimited insurable interest in himself or herself



Question:
Which of the following statements regarding the notice regarding replacement of life insurance is

Answer:
A copy of the notice must be signed by the applicant and submitted with the application



Question:
When is it appropriate for a producers spouse to be the primary beneficiary on an applicant life
insurance policy?

Answer:
When insurable interest exists



Question:
Interest on Life Insurance Proceeds

Answer:
required if the claim was not paid within 30 days of the date insurer received the claim