COLORADO LIFE AND HEALTH FINAL
PAPER 2026 EXAM QUESTIONS AND
CORRECT ANSWERS
⩥ when do you report administrative actions. Answer: within 30 days
⩥ Penalty for license denial, suspension, or revocation. Answer: 3,000
⩥ Penalties for falsifying books/documents. Answer: maximum fine of
5,000 and between 2-12 months imprisonment
⩥ Unfair Trade Practices and methods of competition fines. Answer:
3000 maximum per violation
30,000 maximum aggregate
30,000 insurer maximum per
750,000 insurer maximum aggregate
⩥ Claims must be paid by insurers within. Answer: 60 days
⩥ Violation of Cease and Desist orders. Answer: 500$ maximum for the
individual
10,000 maximum for insurer
, ⩥ Emergency cease and desist order fine. Answer: 25,000$
⩥ Minimum age for license. Answer: 18
⩥ Change of address must be reported in. Answer: 30 days
⩥ Minimum hours required for industry ethics. Answer: 3 hours
⩥ Prelicensing Requirements. Answer: 50 hours
⩥ Terminating an appointment. Answer: the commissioner must be
notified in 30 days
Insurer has 15 days to notify the producer
⩥ Producer license renewal period. Answer: 2 years
⩥ After reciept producer must remit premiums to insurer within.
Answer: 45 days
⩥ A producer must return all premium to insured within. Answer: 30
days
PAPER 2026 EXAM QUESTIONS AND
CORRECT ANSWERS
⩥ when do you report administrative actions. Answer: within 30 days
⩥ Penalty for license denial, suspension, or revocation. Answer: 3,000
⩥ Penalties for falsifying books/documents. Answer: maximum fine of
5,000 and between 2-12 months imprisonment
⩥ Unfair Trade Practices and methods of competition fines. Answer:
3000 maximum per violation
30,000 maximum aggregate
30,000 insurer maximum per
750,000 insurer maximum aggregate
⩥ Claims must be paid by insurers within. Answer: 60 days
⩥ Violation of Cease and Desist orders. Answer: 500$ maximum for the
individual
10,000 maximum for insurer
, ⩥ Emergency cease and desist order fine. Answer: 25,000$
⩥ Minimum age for license. Answer: 18
⩥ Change of address must be reported in. Answer: 30 days
⩥ Minimum hours required for industry ethics. Answer: 3 hours
⩥ Prelicensing Requirements. Answer: 50 hours
⩥ Terminating an appointment. Answer: the commissioner must be
notified in 30 days
Insurer has 15 days to notify the producer
⩥ Producer license renewal period. Answer: 2 years
⩥ After reciept producer must remit premiums to insurer within.
Answer: 45 days
⩥ A producer must return all premium to insured within. Answer: 30
days
