Colorado Life Insurance Final Exam / Accurate
Expert Verified Actual Questions & Answers for
Guaranteed Pass | Newest Update, 2025-2026
Terms in this set (95)
Return of premium The life insurance rider that pays the face amount plus the total
premiums paid into the policy is known as:
Foreign or alien What kind of company can the Commissioner file a complaint to
enjoin and restrain from continuing violations of the insurance
regulations of Colorado?
Yes, the interest can be paid Does a loan on the cash value of a life insurance policy
annually, or added to the accrue interest, and if so, how is the interest handled?
loan.
Needs 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?
A 41 year old lawyer who A decreasing term life policy would be the most appropriate for:
wants a policy to pay his
mortgage if he dies
(decreasing term life
generally is used as
mortgage insurance)
30 days A producer or business entity shall report to the
Commissioner any administrative action taken against the
producer within:
Richard is thinking about transferring some of the ownership
Assignment rights of his policy to his brother Randy.
What term is used for this type of transfer?
, Term policy 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.
November 7 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?
24 hours Insurance producers must complete how many hours of
continuing education each licensing period?
Risk classification 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?
Variable annuity If the cash values of an annuity are invested in securities, it is
a:
Defamation 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:
Other agents An agent has a fiduciary responsibility to all the following,
EXCEPT:
Cash surrender Alex's life policy lapsed, which Nonforfeiture option would the
insurer send him the value of the policy?
Variable universal life Investment risk is completely taken by the policyowner is
what type policy?
The value of nonforfeiture Jennifer made an additional premium payment on her
options may decrease. Adjustable Life policy. Which of the following is not a way
that her policy is affected by this payment?
Contributory What type group plan requires 75% participation?
Expert Verified Actual Questions & Answers for
Guaranteed Pass | Newest Update, 2025-2026
Terms in this set (95)
Return of premium The life insurance rider that pays the face amount plus the total
premiums paid into the policy is known as:
Foreign or alien What kind of company can the Commissioner file a complaint to
enjoin and restrain from continuing violations of the insurance
regulations of Colorado?
Yes, the interest can be paid Does a loan on the cash value of a life insurance policy
annually, or added to the accrue interest, and if so, how is the interest handled?
loan.
Needs 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?
A 41 year old lawyer who A decreasing term life policy would be the most appropriate for:
wants a policy to pay his
mortgage if he dies
(decreasing term life
generally is used as
mortgage insurance)
30 days A producer or business entity shall report to the
Commissioner any administrative action taken against the
producer within:
Richard is thinking about transferring some of the ownership
Assignment rights of his policy to his brother Randy.
What term is used for this type of transfer?
, Term policy 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.
November 7 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?
24 hours Insurance producers must complete how many hours of
continuing education each licensing period?
Risk classification 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?
Variable annuity If the cash values of an annuity are invested in securities, it is
a:
Defamation 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:
Other agents An agent has a fiduciary responsibility to all the following,
EXCEPT:
Cash surrender Alex's life policy lapsed, which Nonforfeiture option would the
insurer send him the value of the policy?
Variable universal life Investment risk is completely taken by the policyowner is
what type policy?
The value of nonforfeiture Jennifer made an additional premium payment on her
options may decrease. Adjustable Life policy. Which of the following is not a way
that her policy is affected by this payment?
Contributory What type group plan requires 75% participation?
