Colorado Life Insurance Final Exam questions
with expert verified correct detailed
solutions latest updated version 2025-2026
Variable universal life --- correct precise answer ---Investment risk is
completely taken by the policyowner is what type policy?
The value of nonforfeiture options may decrease. --- correct precise
answer ---Jennifer made an additional premium payment on her
Adjustable Life policy. Which of the following is not a way that her
policy is affected by this payment?
Contributory --- correct precise answer ---What type group plan
requires 75% participation?
Primary --- correct precise answer ---If more than one beneficiary is
named, who is the first in line?
In life insurance, insurable interest must be present at the time of: ---
correct precise answer ---Application
,MECs (Modified Endowment Contracts) --- correct precise answer ---
Over-funded life insurance policies where the proceeds are subject to
taxation are called:
First --- correct precise answer ---After what policy year of any life
insurance policy, can suicide of the policyowner not be used as
defense against the payment of benefits?
3 individuals --- correct precise answer ---In Colorado, what is the
minimum number of individuals a group life policy will cover?
Examining applications and issuing certificates of authority to
insurance companies to transact insurance business --- correct
precise answer ---Which of the following is a duty of the
Commissioner?
Dow Jones Industrial Average. --- correct precise answer ---Dylan is
looking at buying an equity-indexed life policy; it will likely be tied to:
The policyowner --- correct precise answer ---Who has the right to
change the beneficiary on a life policy?
, Fair Credit Reporting Act --- correct precise answer ---What
guarantees Jason the right to question the source and validity of
consumer information used to rate a policy?
Pay the death benefit based on the applicant's actual age. --- correct
precise answer ---If an applicant states their age is 30 on an
application for life insurance, when they were actually 37, what is the
insurer likely to do?
A consent form must be signed by the applicant prior to the test. ---
correct precise answer ---Which of the following must happen before
an HIV test is performed on an applicant?
Accelerated benefit rider --- correct precise answer ---Which rider on
Diane's life policy will help her out when she is confined to a nursing
home with a terminal illness?
Accelerated benefits --- correct precise answer ---Life insurance death
benefits that can be accessed tax-free when the insured is still alive
are called:
with expert verified correct detailed
solutions latest updated version 2025-2026
Variable universal life --- correct precise answer ---Investment risk is
completely taken by the policyowner is what type policy?
The value of nonforfeiture options may decrease. --- correct precise
answer ---Jennifer made an additional premium payment on her
Adjustable Life policy. Which of the following is not a way that her
policy is affected by this payment?
Contributory --- correct precise answer ---What type group plan
requires 75% participation?
Primary --- correct precise answer ---If more than one beneficiary is
named, who is the first in line?
In life insurance, insurable interest must be present at the time of: ---
correct precise answer ---Application
,MECs (Modified Endowment Contracts) --- correct precise answer ---
Over-funded life insurance policies where the proceeds are subject to
taxation are called:
First --- correct precise answer ---After what policy year of any life
insurance policy, can suicide of the policyowner not be used as
defense against the payment of benefits?
3 individuals --- correct precise answer ---In Colorado, what is the
minimum number of individuals a group life policy will cover?
Examining applications and issuing certificates of authority to
insurance companies to transact insurance business --- correct
precise answer ---Which of the following is a duty of the
Commissioner?
Dow Jones Industrial Average. --- correct precise answer ---Dylan is
looking at buying an equity-indexed life policy; it will likely be tied to:
The policyowner --- correct precise answer ---Who has the right to
change the beneficiary on a life policy?
, Fair Credit Reporting Act --- correct precise answer ---What
guarantees Jason the right to question the source and validity of
consumer information used to rate a policy?
Pay the death benefit based on the applicant's actual age. --- correct
precise answer ---If an applicant states their age is 30 on an
application for life insurance, when they were actually 37, what is the
insurer likely to do?
A consent form must be signed by the applicant prior to the test. ---
correct precise answer ---Which of the following must happen before
an HIV test is performed on an applicant?
Accelerated benefit rider --- correct precise answer ---Which rider on
Diane's life policy will help her out when she is confined to a nursing
home with a terminal illness?
Accelerated benefits --- correct precise answer ---Life insurance death
benefits that can be accessed tax-free when the insured is still alive
are called:
