Colorado life Ins Master Exam 1-50
Colorado life Insurance Master Exam 1-
50 Questions with Certified Solutions
Updated 2024.
A person has inherited a sum of money. She is age 60 and desires to purchase an
annuity that will appreciate with market and economic conditions. Which of the
following types of annuities should she consider? - Answer: Variable
A statement that an applicant for life insurance makes on their application, that is
the truth to the best of their knowledge, is considered to be an - Answer:
Representation
, Colorado life Ins Master Exam 1-50
Which of the following is not true regarding the provisions of the federal Fair
Credit Reporting Act? - Answer: If adverse action is taken as a result of a report,
the insurer must give the customer a copy of the report
Which of the following statements about underwriting selection is/are true? -
Answer: Insurance companies may use family history to rate an applicant, if the
history reveals a family characteristic that also appears in the applicant
Which insuring substandard life insurance risks, provIsions arc usually made for
the expected higher death rate by: - Answer: Charging an extra premium
The waiver of premium benefit covers disabilities resulting from which of the
following? - Answer: Sickness or accident & Sudden and permanent non-
occupational injury
The survivor life annuity contract calls for the beneficiary to receive a - Answer:
Predetermined income for life
When a corporation establishes a contributory group term contract, what
percentage must be met for participation? - Answer: 75%
If a proposed insured has a hazardous occupation, the insurance company may: -
Answer: Rate the insured
Colorado life Insurance Master Exam 1-
50 Questions with Certified Solutions
Updated 2024.
A person has inherited a sum of money. She is age 60 and desires to purchase an
annuity that will appreciate with market and economic conditions. Which of the
following types of annuities should she consider? - Answer: Variable
A statement that an applicant for life insurance makes on their application, that is
the truth to the best of their knowledge, is considered to be an - Answer:
Representation
, Colorado life Ins Master Exam 1-50
Which of the following is not true regarding the provisions of the federal Fair
Credit Reporting Act? - Answer: If adverse action is taken as a result of a report,
the insurer must give the customer a copy of the report
Which of the following statements about underwriting selection is/are true? -
Answer: Insurance companies may use family history to rate an applicant, if the
history reveals a family characteristic that also appears in the applicant
Which insuring substandard life insurance risks, provIsions arc usually made for
the expected higher death rate by: - Answer: Charging an extra premium
The waiver of premium benefit covers disabilities resulting from which of the
following? - Answer: Sickness or accident & Sudden and permanent non-
occupational injury
The survivor life annuity contract calls for the beneficiary to receive a - Answer:
Predetermined income for life
When a corporation establishes a contributory group term contract, what
percentage must be met for participation? - Answer: 75%
If a proposed insured has a hazardous occupation, the insurance company may: -
Answer: Rate the insured
