LAWS & RULES PERTINENT TO LIFE INSURANCE EXAM
QUESTIONS AND ANSWERS 100% GUARANTEED PASS
Employer noncontributory group life policies must allow for all of the following EXCEPT
conversion privilege
insured can determine the benefit amount
insured can name a beneficiary
minimum participation requirements
Insured can determine benefit amount
Colorado's replacement rules apply to all of the following types of insurance EXCEPT
1-year term
10-year term
20-year term
single premium whole life
Single premium whole life
Which of the following statements is true regarding the replacement of a life insurance policy in
Colorado?
The replacing insurer must maintain copies of all records regarding the replacement for at least 5 years
The producer must maintain copies of all records regarding the replacement for at least 5 years
The insurer whose policy is being replaced must keep all records regarding the replacement for at least
, 5 years
All parties must maintain copies of all records regarding the replacement for at least 10 years
The replacing insurer must maintain copies of all records regarding the replacement for at least 5 years
Which of the following words may be used in the advertisement of life insurance or annuities?
Risk-free
Guaranteed
Investment
Savings
Guaranteed
A producer must remit premiums to the insurer within ___ days after receipt.
10
15
30
45
45
Interest on life insurance proceeds is
required if the claim was not paid within 30 days of death
required if the claim was not paid within 30 days of the date insurer received the claim
8%
not required in this state
required if the claim was not paid within 30 days of the date insurer received the claim
QUESTIONS AND ANSWERS 100% GUARANTEED PASS
Employer noncontributory group life policies must allow for all of the following EXCEPT
conversion privilege
insured can determine the benefit amount
insured can name a beneficiary
minimum participation requirements
Insured can determine benefit amount
Colorado's replacement rules apply to all of the following types of insurance EXCEPT
1-year term
10-year term
20-year term
single premium whole life
Single premium whole life
Which of the following statements is true regarding the replacement of a life insurance policy in
Colorado?
The replacing insurer must maintain copies of all records regarding the replacement for at least 5 years
The producer must maintain copies of all records regarding the replacement for at least 5 years
The insurer whose policy is being replaced must keep all records regarding the replacement for at least
, 5 years
All parties must maintain copies of all records regarding the replacement for at least 10 years
The replacing insurer must maintain copies of all records regarding the replacement for at least 5 years
Which of the following words may be used in the advertisement of life insurance or annuities?
Risk-free
Guaranteed
Investment
Savings
Guaranteed
A producer must remit premiums to the insurer within ___ days after receipt.
10
15
30
45
45
Interest on life insurance proceeds is
required if the claim was not paid within 30 days of death
required if the claim was not paid within 30 days of the date insurer received the claim
8%
not required in this state
required if the claim was not paid within 30 days of the date insurer received the claim
