COLORADO LIFE AND HEALTH EXAM
SCRIPT 2026 QUESTIONS AND FULL
SOLUTIONS GRADED A+
⩥ Unilateral contract. Answer: Which contract is one in which only one
party is legally bound to contractual obligations after the premium is
paid?
⩥ Dividends issued by Mutual Insurance companies. Answer: Are non-
taxable refunds returns of unused or surplus premiums
⩥ Non-admitted Insurer. Answer: An insured not authorized to do
business within a state is considered what type of insurer?
⩥ An admitted insurer. Answer: An insure authorized to do business in
this state is known as?
⩥ When the applicant accepts policy delivery and pays the additional
premium. Answer: An insurer issues a policy, other than the policy
originally applied for requiring an additional premium of $100. When
would an agreement come into being?
⩥ Consideration. Answer: In a legal sense, premium functions as the
insured's
,⩥ Insurance companies. Answer: Manufactures and cells insurance
coverage in the form of insurance policies or contracts of insurance
⩥ Foreign. Answer: An insurer authorized to do business in state A
which was incorporated in state B is considered what type of insurer in
state A.
⩥ The individual states. Answer: For the most part, the highest authority
for insurance regulation is.
⩥ Existing. Answer: In a replacement transaction, which insurer has a
current policy being replaced with a new policy?
⩥ Insurers. Answer: The MIB obtains its information from?
⩥ Ensures may refuse to issue a policy to individuals based on positive
HIV test results. Answer: What is an insured permitted to do during the
underwriting process when a proposed insured test positive for HIV
⩥ Application. Answer: In life insurance, which of these is the earliest
point in time at which a buyers guide is required?
, ⩥ The guardian. Answer: If an applicant is a minor who signs the
application on the minors behalf?
⩥ The producers name and address. Answer: What information must
appear on the policy summary provided to a life insurance client?
⩥ Policy owner. Answer: Typically, the owner insured, and the applicant
would be the same person, but not always as in the case of a third-party
ownership, such as juvenile policies or key person policies in this case,
even though the owner is not the insured he or she is still controls every
right that the policy afford
⩥ A minor insured. Answer: Both the producer or agent and the
applicant insured must sign the application unless the guardian is signing
for a minor
⩥ The term payment mode refers to. Answer: The frequency of premium
payments
⩥ The insurer. Answer: When an insurer requires that an insured be
subjected to a medical examination who pays for the medical exam
⩥ Separate account. Answer: Owners of variable insurance products
may allocate their cash value into the insurer, separate account with sub
SCRIPT 2026 QUESTIONS AND FULL
SOLUTIONS GRADED A+
⩥ Unilateral contract. Answer: Which contract is one in which only one
party is legally bound to contractual obligations after the premium is
paid?
⩥ Dividends issued by Mutual Insurance companies. Answer: Are non-
taxable refunds returns of unused or surplus premiums
⩥ Non-admitted Insurer. Answer: An insured not authorized to do
business within a state is considered what type of insurer?
⩥ An admitted insurer. Answer: An insure authorized to do business in
this state is known as?
⩥ When the applicant accepts policy delivery and pays the additional
premium. Answer: An insurer issues a policy, other than the policy
originally applied for requiring an additional premium of $100. When
would an agreement come into being?
⩥ Consideration. Answer: In a legal sense, premium functions as the
insured's
,⩥ Insurance companies. Answer: Manufactures and cells insurance
coverage in the form of insurance policies or contracts of insurance
⩥ Foreign. Answer: An insurer authorized to do business in state A
which was incorporated in state B is considered what type of insurer in
state A.
⩥ The individual states. Answer: For the most part, the highest authority
for insurance regulation is.
⩥ Existing. Answer: In a replacement transaction, which insurer has a
current policy being replaced with a new policy?
⩥ Insurers. Answer: The MIB obtains its information from?
⩥ Ensures may refuse to issue a policy to individuals based on positive
HIV test results. Answer: What is an insured permitted to do during the
underwriting process when a proposed insured test positive for HIV
⩥ Application. Answer: In life insurance, which of these is the earliest
point in time at which a buyers guide is required?
, ⩥ The guardian. Answer: If an applicant is a minor who signs the
application on the minors behalf?
⩥ The producers name and address. Answer: What information must
appear on the policy summary provided to a life insurance client?
⩥ Policy owner. Answer: Typically, the owner insured, and the applicant
would be the same person, but not always as in the case of a third-party
ownership, such as juvenile policies or key person policies in this case,
even though the owner is not the insured he or she is still controls every
right that the policy afford
⩥ A minor insured. Answer: Both the producer or agent and the
applicant insured must sign the application unless the guardian is signing
for a minor
⩥ The term payment mode refers to. Answer: The frequency of premium
payments
⩥ The insurer. Answer: When an insurer requires that an insured be
subjected to a medical examination who pays for the medical exam
⩥ Separate account. Answer: Owners of variable insurance products
may allocate their cash value into the insurer, separate account with sub
