Life & Health Insurance State Law
Supplement Practice Colorado Exam
Questions Fully Solved.
What is the maximum amount the commissioner can fine an insurer for each violation of a
cease-and-desist order? - Answer $10,000
When appropriate the commissioner reports a violation of insurance law to - Answer The
district attorney
A company that has not been authorized to operate in Colorado is known as - Answer A
nonadmitted insurer
An insurer that terminates the producers appointment must inform the commissioner within
how many days? - Answer 30
All of the following are duties of the commissioner except: a. keeping records of the insurers
that he has examined b. adopting rules and regulations c. writing insurance laws d. submitting
an annual report to the General assembly - Answer See. Writing insurance laws
When an insurer terminates a producer's appointment, the insurer must notify - Answer The
commissioner and producer
An insurance producer who solicits insurance on behalf of an insurer represents the - Answer
Insurer
The commissioner may... - Answer Conduct investigations and subpoena witnesses whenever
he deems it necessary
The commissioner gives approval to an insurer to do business in Colorado in a certificate of -
Answer Authority
, All of the following are violations of Colorado insurance law except: a. Charging individuals of
the same class different premium rates b. Offering tickets to a football game as an incentive to
purchase a policy c. In forming a new policy holder that his new policy, if lapsed for nonpayment
of premium, could be reinstated upon reapplication d. Having an arrangement to sell stock to a
person contingent upon the purchase of an annuity - Answer C. In forming a new policy holder
that his new policy, if lapsed for nonpayment of premium, could be reinstated upon
reapplication
All of the following insurance practices are illegal in Colorado except: A. Soliciting or procuring
insurance without a license B. Paying a fee for services as an insurance producer to anyone who
is not properly licensed C. Inquiring about an applicant sexual orientation in connection with an
application D. Replacing one life insurance policy with another - Answer D. Replacing one life
insurance policy with another
How many hours of continuing education must be in courses associated with the lines of
insurance for which the producer is licensed? - Answer 18
All of the following are examples of unfair claims settlement practices except: A. Paying the
claim without conducting an investigation B. Denying a claim promptly but without explaining
the coverage or laws on which the denial is based C. Paying a claim promptly but without
explaining the coverage or laws on which the payment is based D. Denying the claim without
making an investigation - Answer A. Paying a claim without conducting an investigation
A producer has how many days to file a written appeal to the commissioner after he has been
terminated by his appointing insurer? - Answer 30
A fraternal benefit society representative need not be licensed as a producer if he sells life
insurance with the face amount equal to or less than: - Answer 50,000
To be licensed to sell life, accident and health insurance in Colorado, and applicant must
complete: - Answer 100 hours of pre-licensing education
A fiduciary responsibility is defined as: - Answer A relationship of special trust and confidence
when a person is entrusted with another's funds
A producer who has to write a majority of his insurance business on the employees and officers
of a restaurant owned by his wife is transacting: - Answer Controlled business
Supplement Practice Colorado Exam
Questions Fully Solved.
What is the maximum amount the commissioner can fine an insurer for each violation of a
cease-and-desist order? - Answer $10,000
When appropriate the commissioner reports a violation of insurance law to - Answer The
district attorney
A company that has not been authorized to operate in Colorado is known as - Answer A
nonadmitted insurer
An insurer that terminates the producers appointment must inform the commissioner within
how many days? - Answer 30
All of the following are duties of the commissioner except: a. keeping records of the insurers
that he has examined b. adopting rules and regulations c. writing insurance laws d. submitting
an annual report to the General assembly - Answer See. Writing insurance laws
When an insurer terminates a producer's appointment, the insurer must notify - Answer The
commissioner and producer
An insurance producer who solicits insurance on behalf of an insurer represents the - Answer
Insurer
The commissioner may... - Answer Conduct investigations and subpoena witnesses whenever
he deems it necessary
The commissioner gives approval to an insurer to do business in Colorado in a certificate of -
Answer Authority
, All of the following are violations of Colorado insurance law except: a. Charging individuals of
the same class different premium rates b. Offering tickets to a football game as an incentive to
purchase a policy c. In forming a new policy holder that his new policy, if lapsed for nonpayment
of premium, could be reinstated upon reapplication d. Having an arrangement to sell stock to a
person contingent upon the purchase of an annuity - Answer C. In forming a new policy holder
that his new policy, if lapsed for nonpayment of premium, could be reinstated upon
reapplication
All of the following insurance practices are illegal in Colorado except: A. Soliciting or procuring
insurance without a license B. Paying a fee for services as an insurance producer to anyone who
is not properly licensed C. Inquiring about an applicant sexual orientation in connection with an
application D. Replacing one life insurance policy with another - Answer D. Replacing one life
insurance policy with another
How many hours of continuing education must be in courses associated with the lines of
insurance for which the producer is licensed? - Answer 18
All of the following are examples of unfair claims settlement practices except: A. Paying the
claim without conducting an investigation B. Denying a claim promptly but without explaining
the coverage or laws on which the denial is based C. Paying a claim promptly but without
explaining the coverage or laws on which the payment is based D. Denying the claim without
making an investigation - Answer A. Paying a claim without conducting an investigation
A producer has how many days to file a written appeal to the commissioner after he has been
terminated by his appointing insurer? - Answer 30
A fraternal benefit society representative need not be licensed as a producer if he sells life
insurance with the face amount equal to or less than: - Answer 50,000
To be licensed to sell life, accident and health insurance in Colorado, and applicant must
complete: - Answer 100 hours of pre-licensing education
A fiduciary responsibility is defined as: - Answer A relationship of special trust and confidence
when a person is entrusted with another's funds
A producer who has to write a majority of his insurance business on the employees and officers
of a restaurant owned by his wife is transacting: - Answer Controlled business
