©EVERLY 2025 ALL RIGHTS RESERVED
Colorado Life Insurance Final Exam
Questions And Answers 100% Pass
Return of premium - ANS The life insurance rider that pays the face amount plus the total
premiums paid into the policy is known as:
Foreign or alien - ANS 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 annually, or added to the loan. - ANS Does a loan on the cash
value of a life insurance policy accrue interest, and if so, how is the interest handled?
Needs - ANS 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 wants a policy to pay his mortgage if he dies (decreasing term life
generally is used as mortgage insurance) - ANS A decreasing term life policy would be the
most appropriate for:
30 days - ANS A producer or business entity shall report to the Commissioner any
administrative action taken against the producer within:
Assignment - ANS Richard is thinking about transferring some of the ownership rights of his
policy to his brother Randy. What term is used for this type of transfer?
, ©EVERLY 2025 ALL RIGHTS RESERVED
Term policy - ANS 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 - ANS 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 - ANS Insurance producers must complete how many hours of continuing education
each licensing period?
Risk classification - ANS 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 - ANS If the cash values of an annuity are invested in securities, it is a:
Defamation - ANS 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 - ANS An agent has a fiduciary responsibility to all the following, EXCEPT:
Cash surrender - ANS Alex's life policy lapsed, which Nonforfeiture option would the insurer
send him the value of the policy?
Variable universal life - ANS Investment risk is completely taken by the policyowner is what
type policy?
Colorado Life Insurance Final Exam
Questions And Answers 100% Pass
Return of premium - ANS The life insurance rider that pays the face amount plus the total
premiums paid into the policy is known as:
Foreign or alien - ANS 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 annually, or added to the loan. - ANS Does a loan on the cash
value of a life insurance policy accrue interest, and if so, how is the interest handled?
Needs - ANS 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 wants a policy to pay his mortgage if he dies (decreasing term life
generally is used as mortgage insurance) - ANS A decreasing term life policy would be the
most appropriate for:
30 days - ANS A producer or business entity shall report to the Commissioner any
administrative action taken against the producer within:
Assignment - ANS Richard is thinking about transferring some of the ownership rights of his
policy to his brother Randy. What term is used for this type of transfer?
, ©EVERLY 2025 ALL RIGHTS RESERVED
Term policy - ANS 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 - ANS 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 - ANS Insurance producers must complete how many hours of continuing education
each licensing period?
Risk classification - ANS 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 - ANS If the cash values of an annuity are invested in securities, it is a:
Defamation - ANS 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 - ANS An agent has a fiduciary responsibility to all the following, EXCEPT:
Cash surrender - ANS Alex's life policy lapsed, which Nonforfeiture option would the insurer
send him the value of the policy?
Variable universal life - ANS Investment risk is completely taken by the policyowner is what
type policy?
