COLORADO LIFE INSURANCE EXAM
PRACTICE SCRIPT 2026 QUESTIONS WITH
SOLUTIONS
⫸ In Colorado, a life insurance applicant has __ days after policy
delivery for a full refund of premium if not satisfied for any reason.
Answer: 15
⫸ Which of the following is required for a life insurance lapse notice
Answer: Reason stated why the policy will lapse
⫸ To be valid, a group life insurance policy Answer: May not be issued
to a group formed solely for the purpose of obtaining insurance.
⫸ Colorado does not allow an insured to deny a life insurance claim due
to Suicide after the policy has been in force for one year Answer:
⫸ If an annuity application was not taken in person, An insurer must
provide the applicant a buyers guide Answer: within 5 business days of
the insurer receiving the application
⫸ Which of the following statement is correct regarding Insurable
interest in a life insurance contracts Answer: A person generally is
considered to have an unlimited insurable interest in himself or herself
PRACTICE SCRIPT 2026 QUESTIONS WITH
SOLUTIONS
⫸ In Colorado, a life insurance applicant has __ days after policy
delivery for a full refund of premium if not satisfied for any reason.
Answer: 15
⫸ Which of the following is required for a life insurance lapse notice
Answer: Reason stated why the policy will lapse
⫸ To be valid, a group life insurance policy Answer: May not be issued
to a group formed solely for the purpose of obtaining insurance.
⫸ Colorado does not allow an insured to deny a life insurance claim due
to Suicide after the policy has been in force for one year Answer:
⫸ If an annuity application was not taken in person, An insurer must
provide the applicant a buyers guide Answer: within 5 business days of
the insurer receiving the application
⫸ Which of the following statement is correct regarding Insurable
interest in a life insurance contracts Answer: A person generally is
considered to have an unlimited insurable interest in himself or herself
