Colorado Life Insurance Final Exam
Colorado Life Insurance Final Exam
Containing 95 Questions and Answers/
A+ Score Guide 2024.
The life insurance rider that pays the face amount plus the total premiums paid
into the policy is known as: - Answer: Return of premium
What kind of company can the Commissioner file a complaint to enjoin and
restrain from continuing violations of the insurance regulations of Colorado? -
Answer: Foreign or alien
, Colorado Life Insurance Final Exam
Does a loan on the cash value of a life insurance policy accrue interest, and if so,
how is the interest handled? - Answer: Yes, the interest can be paid annually, or
added to the loan.
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? - Answer:
Needs
A decreasing term life policy would be the most appropriate for: - Answer: 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)
A producer or business entity shall report to the Commissioner any administrative
action taken against the producer within: - Answer: 30 days
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? - Answer:
Assignment
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. - Answer: Term policy
Colorado Life Insurance Final Exam
Containing 95 Questions and Answers/
A+ Score Guide 2024.
The life insurance rider that pays the face amount plus the total premiums paid
into the policy is known as: - Answer: Return of premium
What kind of company can the Commissioner file a complaint to enjoin and
restrain from continuing violations of the insurance regulations of Colorado? -
Answer: Foreign or alien
, Colorado Life Insurance Final Exam
Does a loan on the cash value of a life insurance policy accrue interest, and if so,
how is the interest handled? - Answer: Yes, the interest can be paid annually, or
added to the loan.
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? - Answer:
Needs
A decreasing term life policy would be the most appropriate for: - Answer: 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)
A producer or business entity shall report to the Commissioner any administrative
action taken against the producer within: - Answer: 30 days
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? - Answer:
Assignment
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. - Answer: Term policy
