COLORADO LIFE HEALTH INSURANCE STATE LAW SUPPLEMENT EXAM 2024-2025 ACTUAL EXAM
COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS
What is the maximum amount the commissioner can fine an insurer for each violation of a cease-and-
desist order? - (answer) $10,000
When appropriate the commissioner reports a violation of insurance law to - (answer) The district
attorney
A company that has not been authorized to operate in Colorado is known as - (answer) A nonadmitted
insurer
An insurer that terminates the producers appointment must inform the commissioner within how many
days? - (answer) 30
All of the following are duties of the commissioner except: a. keeping records of the insurers that he has
examined b. adopting rules and regulations c. writing insurance laws d. submitting an annual report to
the General assembly - (answer) See. Writing insurance laws
When an insurer terminates a producer's appointment, the insurer must notify - (answer) The
commissioner and producer
An insurance producer who solicits insurance on behalf of an insurer represents the - (answer) Insurer
The commissioner may... - (answer) Conduct investigations and subpoena witnesses whenever he
deems it necessary
The commissioner gives approval to an insurer to do business in Colorado in a certificate of - (answer)
Authority
In Colorado all of the following are considered unfair trade practices except: a. Misrepresentation b.
Rebating c.. Replacement D. Coercion - (answer) C. Replacement
All of the following are violations of Colorado insurance law except: a. Charging individuals of the same
class different premium rates b. Offering tickets to a football game as an incentive to purchase a policy c.
, COLORADO LIFE HEALTH INSURANCE STATE LAW SUPPLEMENT EXAM 2024-2025 ACTUAL EXAM
COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS
In forming a new policy holder that his new policy, if lapsed for nonpayment of premium, could be
reinstated upon reapplication d. Having an arrangement to sell stock to a person contingent upon the
purchase of an annuity - (answer) C. In forming a new policy holder that his new policy, if lapsed for
nonpayment of premium, could be reinstated upon reapplication
All of the following insurance practices are illegal in Colorado except: A. Soliciting or procuring insurance
without a license B. Paying a fee for services as an insurance producer to anyone who is not properly
licensed C. Inquiring about an applicant sexual orientation in connection with an application D. Replacing
one life insurance policy with another - (answer) D. Replacing one life insurance policy with another
How many hours of continuing education must be in courses associated with the lines of insurance for
which the producer is licensed? - (answer) 18
All of the following are examples of unfair claims settlement practices except: A. Paying the claim
without conducting an investigation B. Denying a claim promptly but without explaining the coverage or
laws on which the denial is based C. Paying a claim promptly but without explaining the coverage or laws
on which the payment is based D. Denying the claim without making an investigation - (answer) A.
Paying a claim without conducting an investigation
A producer has how many days to file a written appeal to the commissioner after he has been
terminated by his appointing insurer? - (answer) 30
A fraternal benefit society representative need not be licensed as a producer if he sells life insurance
with the face amount equal to or less than: - (answer) 50,000
To be licensed to sell life, accident and health insurance in Colorado, and applicant must complete: -
(answer) 100 hours of pre-licensing education
A fiduciary responsibility is defined as: - (answer) A relationship of special trust and confidence when a
person is entrusted with another's funds
A producer who has to write a majority of his insurance business on the employees and officers of a
restaurant owned by his wife is transacting: - (answer) Controlled business
COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS
What is the maximum amount the commissioner can fine an insurer for each violation of a cease-and-
desist order? - (answer) $10,000
When appropriate the commissioner reports a violation of insurance law to - (answer) The district
attorney
A company that has not been authorized to operate in Colorado is known as - (answer) A nonadmitted
insurer
An insurer that terminates the producers appointment must inform the commissioner within how many
days? - (answer) 30
All of the following are duties of the commissioner except: a. keeping records of the insurers that he has
examined b. adopting rules and regulations c. writing insurance laws d. submitting an annual report to
the General assembly - (answer) See. Writing insurance laws
When an insurer terminates a producer's appointment, the insurer must notify - (answer) The
commissioner and producer
An insurance producer who solicits insurance on behalf of an insurer represents the - (answer) Insurer
The commissioner may... - (answer) Conduct investigations and subpoena witnesses whenever he
deems it necessary
The commissioner gives approval to an insurer to do business in Colorado in a certificate of - (answer)
Authority
In Colorado all of the following are considered unfair trade practices except: a. Misrepresentation b.
Rebating c.. Replacement D. Coercion - (answer) C. Replacement
All of the following are violations of Colorado insurance law except: a. Charging individuals of the same
class different premium rates b. Offering tickets to a football game as an incentive to purchase a policy c.
, COLORADO LIFE HEALTH INSURANCE STATE LAW SUPPLEMENT EXAM 2024-2025 ACTUAL EXAM
COMPLETE 180 QUESTIONS AND CORRECT DETAILED ANSWERS
In forming a new policy holder that his new policy, if lapsed for nonpayment of premium, could be
reinstated upon reapplication d. Having an arrangement to sell stock to a person contingent upon the
purchase of an annuity - (answer) C. In forming a new policy holder that his new policy, if lapsed for
nonpayment of premium, could be reinstated upon reapplication
All of the following insurance practices are illegal in Colorado except: A. Soliciting or procuring insurance
without a license B. Paying a fee for services as an insurance producer to anyone who is not properly
licensed C. Inquiring about an applicant sexual orientation in connection with an application D. Replacing
one life insurance policy with another - (answer) D. Replacing one life insurance policy with another
How many hours of continuing education must be in courses associated with the lines of insurance for
which the producer is licensed? - (answer) 18
All of the following are examples of unfair claims settlement practices except: A. Paying the claim
without conducting an investigation B. Denying a claim promptly but without explaining the coverage or
laws on which the denial is based C. Paying a claim promptly but without explaining the coverage or laws
on which the payment is based D. Denying the claim without making an investigation - (answer) A.
Paying a claim without conducting an investigation
A producer has how many days to file a written appeal to the commissioner after he has been
terminated by his appointing insurer? - (answer) 30
A fraternal benefit society representative need not be licensed as a producer if he sells life insurance
with the face amount equal to or less than: - (answer) 50,000
To be licensed to sell life, accident and health insurance in Colorado, and applicant must complete: -
(answer) 100 hours of pre-licensing education
A fiduciary responsibility is defined as: - (answer) A relationship of special trust and confidence when a
person is entrusted with another's funds
A producer who has to write a majority of his insurance business on the employees and officers of a
restaurant owned by his wife is transacting: - (answer) Controlled business
