COLORADO HEALTH INSURANCE
PRACTICE SET 2026 TESTED
QUESTIONS AND CORRECT
SOLUTIONS
◉ 30 days for electronic; 45 days for paper. Answer: With a clean claim,
the insured has ? days for paying or denying electronic and ? days for
paper claims.
◉ Enforces. Answer: The Commissioner ______ laws and does not
create them.
◉ 5 years. Answer: Every ____ years, a licensed insurer must be
examined by the state commissioner.
◉ Adverse selection. Answer: What is a major concern for
Underwriters, especially during the open enrollment period?
◉ Conversion privilege. Answer: Allows individual policy conversion
upon plan group termination
◉ Non-taxable. Answer: Benefits are taxable or non-taxable (?) to
employees.
,◉ 20. Answer: Employers with ___ + employees are required to offer
COBRA for up to 18 months after an employee is terminated.
◉ Master policy. Answer: In group health insurance a ______ type of
policy is issued to the group sponsor.
◉ Impairment rider. Answer: Temporary or permanent rider added to a
policy that includes specific conditions which would normally cause a
policy to be declined.
◉ Free Look Period. Answer: The period of time for the insured to look
over a policy after it is issued (10 days for health insurance, 15 for life)
◉ Class. Answer: The guaranteed renewable provision states that
premiums can only be increased by _________.
◉ Legal Actions Provision. Answer: The ___________ states that one
has 60 days after proof of loss with a 2-year limit on certain defenses.
◉ Insurers. Answer: The insuring clause includes ____________'s
promise to pay benefits.
◉ Proof of loss provision. Answer: This provision states that the insured
must provide proof of loss within 90 days, up to a 1-year maximum.
, ◉ elimination period. Answer: waiting period after a loss occurs before
benefit period begins (30, 90 days, up to 1 year)
◉ Part C. Answer: Medicare Advantage plan, substitution for original
benefits (A & B)
◉ Medicare Part A. Answer: Hospital insurance, covers inpatient and
hospice
◉ Medicare Part B. Answer: Outpatient treatment, ER treatment,
preventive care is looped under Part ___
◉ Supplement Part A. Answer: Also known as Medigap, this part covers
core benefits, including hospice care; premiums vary.
◉ Guaranteed Insurability Rider. Answer: Optional rider that enables
the policyowner to purchase additional amounts of coverage at
predetermined times without proof of insurability
◉ Accidental Death Benefit Rider. Answer: doubles the face amount of
life insurance if death occurs as a result of an accident
◉ Term Insurance Rider. Answer: Often added to a whole life policy to
increase coverage.
Coverage more affordable. Insured buys some whole life and some term
(TERM coverage may be level or decreasing).
PRACTICE SET 2026 TESTED
QUESTIONS AND CORRECT
SOLUTIONS
◉ 30 days for electronic; 45 days for paper. Answer: With a clean claim,
the insured has ? days for paying or denying electronic and ? days for
paper claims.
◉ Enforces. Answer: The Commissioner ______ laws and does not
create them.
◉ 5 years. Answer: Every ____ years, a licensed insurer must be
examined by the state commissioner.
◉ Adverse selection. Answer: What is a major concern for
Underwriters, especially during the open enrollment period?
◉ Conversion privilege. Answer: Allows individual policy conversion
upon plan group termination
◉ Non-taxable. Answer: Benefits are taxable or non-taxable (?) to
employees.
,◉ 20. Answer: Employers with ___ + employees are required to offer
COBRA for up to 18 months after an employee is terminated.
◉ Master policy. Answer: In group health insurance a ______ type of
policy is issued to the group sponsor.
◉ Impairment rider. Answer: Temporary or permanent rider added to a
policy that includes specific conditions which would normally cause a
policy to be declined.
◉ Free Look Period. Answer: The period of time for the insured to look
over a policy after it is issued (10 days for health insurance, 15 for life)
◉ Class. Answer: The guaranteed renewable provision states that
premiums can only be increased by _________.
◉ Legal Actions Provision. Answer: The ___________ states that one
has 60 days after proof of loss with a 2-year limit on certain defenses.
◉ Insurers. Answer: The insuring clause includes ____________'s
promise to pay benefits.
◉ Proof of loss provision. Answer: This provision states that the insured
must provide proof of loss within 90 days, up to a 1-year maximum.
, ◉ elimination period. Answer: waiting period after a loss occurs before
benefit period begins (30, 90 days, up to 1 year)
◉ Part C. Answer: Medicare Advantage plan, substitution for original
benefits (A & B)
◉ Medicare Part A. Answer: Hospital insurance, covers inpatient and
hospice
◉ Medicare Part B. Answer: Outpatient treatment, ER treatment,
preventive care is looped under Part ___
◉ Supplement Part A. Answer: Also known as Medigap, this part covers
core benefits, including hospice care; premiums vary.
◉ Guaranteed Insurability Rider. Answer: Optional rider that enables
the policyowner to purchase additional amounts of coverage at
predetermined times without proof of insurability
◉ Accidental Death Benefit Rider. Answer: doubles the face amount of
life insurance if death occurs as a result of an accident
◉ Term Insurance Rider. Answer: Often added to a whole life policy to
increase coverage.
Coverage more affordable. Insured buys some whole life and some term
(TERM coverage may be level or decreasing).
